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According to the cryopreservation systems market analysis, the global cryopreservation systems market will grow steadily at a CAGR of around 13% by 2021. One of the major drivers responsible for the growth of this market is the rise in the funding by governments in regenerative medicine. To encourage the development of regenerative medicines, many government organizations offer funding.
Governments in many countries have allocated funds and grants to encourage research in regenerative medicine and product development. This funding can help various vendors and research institutes innovate and develop regenerative medicine. Consequently, this increased government funding for regenerative medicine will necessitate the increased use of stem cell for research and the need to preserve them properly, which, in turn, will induce demand in the cryopreservation systems market during the forecast period.
One of the latest trends gaining traction in this market is the increase in outsourcing activities. With increased emphasis on R&D investments and drug discovery, several small companies have resorted to outsourcing their drug discovery process to subcontract laboratories while limiting themselves to manufacturing and marketing. The introduction of subcontract laboratories has enabled these companies to carry out research and testing to drive innovation. The presence of these laboratories allows companies to outsource their drug discovery processes at lower costs. The outsourcing of research and testing has gained enormous popularity over the past few years and is expected to augment growth for the global cryopreservation systems market in the coming years.
The global cryopreservation market is characterized by the presence of diversified international and regional vendors. The international players are consistently increasing their footprint in the market, as a result of this, the regional vendors are finding it increasingly difficult to compete with them, especially on features such as quality, pricing, market reach, and financial resources.
During 2016, the life science and healthcare facilities dominated the cryopreservation systems market and accounted for a major part of the overall market share. Factors such as the rising number of chronic diseases and conditions such as cancer coupled with demand for advanced diagnostics, drugs discovery, and treatments is the major contributor to the dominance of this segment in the global market.
In this market study, analysts have estimated the Americas to dominate the cryopreservation systems market during the forecast period. Factors such as the high prevalence of lifestyle disorders such as obesity and polycystic ovary syndrome (PCOS), which are constantly escalating the prevalence of infertility, this is the key attributor to the growth of the cryopreservation systems market in the region.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Global cryopreservation systems market by geography
PART 07: Global cryopreservation systems by end-users
PART 08: Decision Framework
PART 09: Drivers and challenges
PART 10: Market trends
PART 11: Vendor landscape
PART 12: Appendix
Tags: drug discovery, regenerative medicine, laboratory equipment suppliers, lab supplies, cryopreservation systems market research, lab equipment industry size,
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