Vitrification Market to Grow with a CAGR of 9.17% through 2028
Biobanking and tissue engineering and growing cryonics and
life extension are factors driving the Global Vitrification Market in the
forecast period 2024-2028.
According to TechSci Research report, “Vitrification
Market – Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Vitrification Market stood at USD 7.02 billion in 2022 and is anticipated to grow with a CAGR of 10.06% in the forecast
period, 2024-2028. Vitrification, the process of converting a substance
into glass or a glass-like solid, has found its applications in various
industries, from cryopreservation in the medical field to the production of
artistic glassware. The Global Vitrification Market is experiencing significant
growth, driven by a multitude of factors that have propelled its expansion. Assisted
reproductive technology, including in vitro fertilization (IVF), has witnessed
a surge in demand worldwide. Vitrification plays a pivotal role in ART by
offering a highly efficient method for cryopreserving embryos, oocytes, and
sperm. The increasing prevalence of infertility issues, delayed pregnancies,
and the desire for family planning are fueling the growth of this market.
Vitrification's ability to improve the success rates of ART procedures is
driving its adoption across fertility clinics globally.
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One of the primary drivers of the Global Vitrification
Market is the remarkable progress in biomedical sciences and the increasing
demand for cryopreservation techniques. Vitrification has become a crucial tool
in preserving cells, tissues, and even organs for transplantation. This is
especially important in the field of regenerative medicine, where the ability
to freeze and thaw biological material without causing damage is vital. The
growth of this market is intrinsically linked to advancements in stem cell
research, assisted reproductive technology, and the increasing need for organ
transplantation.
Biobanking and tissue engineering are
other domains where vitrification has established its significance. The growing
interest in personalized medicine and the need for a ready supply of
high-quality biological samples have led to the expansion of biobanking
facilities. Vitrification enables long-term storage of these samples without
compromising their integrity, ensuring they remain valuable for research and
diagnostics. In the field of tissue engineering, vitrification facilitates the
storage and transportation of engineered tissues and organs, contributing to
advancements in regenerative medicine. Beyond its biomedical applications,
vitrification has found uses in various industrial processes and the creation
of artistic glassware. In the manufacturing sector, vitrification is employed
for the production of ceramics, glass fibers, and other advanced materials.
Additionally, artisans and craftsmen have harnessed vitrification techniques to
create intricate glass art, contributing to the market's diversity.
Environmental considerations have also
played a role in boosting the Global Vitrification Market. Vitrification
processes can be more environmentally friendly compared to traditional methods
in certain applications, such as waste management. The encapsulation of
hazardous waste materials in vitrified forms reduces the risk of contamination
and contributes to a cleaner environment, which aligns with global
sustainability goals.
The Global Vitrification Market is segmented into specimen,
end-use, company and region
Based on end-use, the IVF clinics segment has
emerged as the predominant market leader. IVF clinics are subject to strict regulatory oversight
and quality assurance standards, ensuring that they follow best practices in
vitrification and cryopreservation. Patients tend to trust clinics that adhere
to these regulations. The IVF industry has seen consolidation over the
years, with larger clinics and fertility networks having a significant market
presence. These organizations are often better positioned to invest in advanced
vitrification technologies and expand their services.
Based on region, Europe segment is expected to grow
during the forecast period. Europe has a
diverse and robust industrial base across various sectors, including nuclear
energy, pharmaceuticals, and ceramics. Many of these industries require
vitrification for waste management, product development, and other
applications. The proximity of vitrification companies to these industrial
sectors has facilitated collaboration and business opportunities Europe's
geographic location provides convenient access to both domestic and international
markets. The European Union, in particular, offers a large internal market and
trade agreements that make it easier for European companies to export their
vitrification products and technologies to neighboring countries and beyond. The
Asia Pacific region is experiencing rapid market growth. The governments often
provide financial support, grants, and incentives for research and development
activities in advanced technologies like vitrification. This support has helped
companies in the region invest in cutting-edge research and scale up their
production capabilities.
Major companies operating in Global Vitrification Market
are:
- Vitrolife
Inc.
- Genea
Biomedx inc.
- NidaCon
International AB
- Minitube
International
- IMV
Technologies Group (Cryo Bio System)
- The
Cooper Companies, Inc. (A CooperSurgical Fertility Company)
- FUJIFILM
Corporation (FUJIFILM Irvine Scientific)
- Biotech,
Inc.
- Kitazato
Corporation
- Shenzhen
VitaVitro BiotechAGEN N.V.
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“The Global Vitrification Market is on an upward
trajectory, driven by a combination of biomedical advancements, increased
demand for assisted reproductive technology, growth in biobanking and tissue
engineering, emerging markets like cryonics, and diverse industrial and
artistic applications. As technology continues to advance and the need for
effective preservation methods grows, the vitrification market is likely to
remain a dynamic and vital sector of various industries, benefiting both human
health and the environment.,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“Vitrification Market By Specimen (Oocytes(Devices, Kits & Consumables) ,Embryo(Devices,
Kits & Consumables), Sperm), By End-use (IVF Clinics, Biobanks), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Vitrification Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Vitrification Market.
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