South and Central America Cryopreservation Equipment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Freezers, Sample Preparation Systems, and Accessories); Cryogen Type (Liquid Nitrogen, Oxygen, Liquid Helium, Argon, and Others); Application (Cord Blood Stem Cells, Sperms, Semen, & Testicular Tissues, Embryos & Oocytes, Cell and Gene Therapies, and Others); End User (Stem Cell Banks, Biotechnology & Pharmaceutical Organizations, Stem Cell Research Laboratories, and Others)
The cryopreservation equipment market in South and Central America is expected to grow from US$ 316.0 million in 2021 to US$ 565.0 million by 2028; it is estimated to grow at a CAGR of 8.7% from 2021 to 2028.
Cryopreservation has long been acknowledged as a valuable method for long-term genetic resource preservation. However, the outcomes of cryopreservation may vary sometimes due to inconsistencies in processes and freezing equipment. 3D printing is still being explored foe its suitability as a fabrication process for designing, prototyping, testing, and implementing cryopreservation procedures and phenomena. Such devices can offer quantitative data on temperature profiles and phase transitions, which can be utilized to reduce variations in the implementation of established cryopreservation techniques. As the 3D printing approach is becoming more prevalent worldwide and individual devices are being designed based on user requirements. Thus, customization is leading to ultimate standardization that could be an expected result of using this technology. Different user groups can become micro-manufacturers and undertake repeatable cryopreservation techniques, regardless of their location, by exchanging design files. Due to these advantages, 3D printing may be used to create a variety of standardized monitoring devices for cryopreservation applications for obtaining reliable results. A unique 3D printed sensing probe can detect electrical and thermal changes associated with phase-transition processes within a French straw. 3D printed probes can support more complex sensing systems, and printed circuitry can potentially be reduced. This could provide control over freezing and thawing. Further, the devices equipped with 3D printed sensing component can be enabled with Wi-Fi and Bluetooth connectivity for data transfer and utility expansion.
The market for cryopreservation equipment market is segmented into type, cryogen type, application, and end user. Based on type, the cryopreservation equipment market is segmented into freezers, sample preparation systems, and accessories. In 2020, the freezers segment held the largest share of the market, by type. Moreover, the same segment is estimated to grow at significant CAGR due to versatile nature of freezers to be used in various settings, easy to use, technological advances, increasing product launches, and high adoption of freezers in stem cell banks during the forecast period.
The cryopreservation equipment market in the South and Central America includes the Brazil, Argentina, and other South American countries. Considerable number of countries in South America have very underdeveloped healthcare infrastructure. In addition, the availability of cryopreservation equipment in the region is also significantly lower. Furthermore, supply chain disruption caused due to congestion of ports and disturbances in other transport means had substantial impact on the distribution of cryopreservation equipment and other accessories in the region. All these factors considerably deterred the growth of South and Central America cryopreservation equipment market.
The overall South and Central America cryopreservation equipment market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the South and Central America cryopreservation equipment market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the South and Central America Cryopreservation equipment market. Thermo Fisher Scientific Inc., Brooks Automation, Inc., Avantor, Inc., Hamilton Company, PHC Holdings Corporation, General Electric Company, Cryoport Systems, LLC., Antech Group Inc., BioLife Solutions, and ZhongkeMeiling Cryogenics Company Limited are among a few players operating in the South and Central America cryopreservation equipment market.
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