The Market of Biomedical Cryogenic Storage Continues to Expand: By Biosafety Legislation and Epidemic Catalysis

Biomedical cryogenic storage equipment is a specialized product of cryogenic storage equipment in the biomedical field, widely used in hospitals, disease control centers, testing centers, biopharmaceutical companies, and scientific research institutes for biological samples, blood products, vaccines, and medicines to store for long-term or temporary, by controlling the temperature to reduce the internal biochemical reaction of the storage, and ensuring the biomolecule and cell activity of the storage for scientific research, disease diagnosis or treatment. With the development of biomedical technology, it has gradually become one of the important infrastructures in the biomedical field.

The global biomedical cryogenic storage market reached 2.747 billion US dollars in 2018, which is expected to reach 3.647 billion US dollars in 2025, with an average annual compound growth rate of 4.13%. And the domestic biomedical cryogenic storage market scale was 146 million US dollars in 2018 and is expected to be in 2025 It is expected to reach 207 million US dollars, with an average annual compound growth rate of 5.22%.

Biomedical cryogenic storage equipment is mainly used in five scenarios, of biological sample libraries, drug and reagent safety, vaccine safety, blood safety, and laboratory safety. Under the events such as the promotion of biosafety to the height of national safety and the improvement of major epidemic prevention and control systems, the demand for bio-repositories, laboratory safety, reagent safety, and drug safety is expected to accelerate growth, thereby boosting the overall demand for biomedical cryogenic storage equipment.

The Implementation of Biosafety Law Accelerates Industry Development

With the continuous progress of modern biotechnology and the expansion of the scope of application, biomedicine has made historic progress, but the existence of biosafety incidents reminds countries of the importance of timely regulation and correct guidance of the industry. The legislative work of the biosafety law in China has been officially launched in 2019, in which the draft of the biosafety law covers eight categories of applications, covering the prevention and control of major emerging infectious diseases, biological data and human genetic resources, laboratory biosafety, and biological weapons threats defense, and other aspects. A government work proposed that it is significant to promote the promulgation of the biosafety law as soon as possible and accelerate the establishment of a national biosafety legal and regulatory system and institutional guarantee system. Biosecurity has been elevated to the level of national security, in which industry legislation has accelerated and is expected to be launched in the near future, thereby promoting the overall demand for biomedical cryogenic storage equipment.

The Epidemic Promotes Growth in Demand for Cryogenic Storage Equipment

With the improvement of China's major epidemic prevention and control system and the national emergency management system, the competent authorities are expected to continue to increase investment in medical and health services, especially the improvement of the detection capabilities of disease control centers and medical institutions at all levels. Since biomedical cryogenic storage equipment is used as the infrastructure of medical testing centers, which is essential for the storage and transportation of test, and a wave of procurement may be ushered in.

Technology and Brand Build High Industry Barriers

Low-temperature storage equipment is mainly used in household refrigeration, commercial refrigerators, industrial production, and biomedical fields. Compared with other applications, biomedical low-temperature storage products are generally of higher value, sensitive to temperature fluctuations, some of which are unique, rare, and irreparable. In view of the special characteristics of storage products, the biomedical cryogenic storage industry has high barriers in technology and brand.

Technically, it is mainly reflected in three aspects. First, biological samples are required to maintain biomolecules and cell viability during long-term storage to reduce the biochemical reaction and improve the stability of various components in the sample through the lowest possible temperature. And to meet the storage requirements of minus 50 to minus 150 degrees Celsius, biomedical cryogenic storage equipment often adopts core technologies such as cascade refrigeration systems and low-temperature insulation of the cabinet. Second, as biological samples are sensitive to temperature, biomedical cryogenic storage device not only achieves precise control of temperature but also maintains the temperature constant during long-term stable operation. Third, to ensure the safety of stored samples, biomedical cryogenic storage devices often integrate series of safety alarm functions, including temperature alarms, system pressure alarms, and power failure alarms, and sensor failure alarm to maintain the internal environment stable for a period in emergencies. It can be seen the overall manufacturing difficulty of the biomedical cryogenic storage surpasses other storage equipment in technology.

Besides, there is the brand barrier. The institutions that use biomedical cryogenic storage equipment are usually highly professional and regards product performance as the first consideration, which tends to choose well-known products that have been tested for a long time. Thus, the industry leader possesses a high brand premium and customer stickiness, in which new entrants in the industry can hardly complete brand building and reputation precipitation in the short term.

In the global market, foreign companies such as Thermo Fisher Scientific and Sanyo Electric have taken the lead in achieving technological breakthroughs with complete product lines. At the same time, they have established an extensive sales network worldwide, with a relatively high market share. The top five manufacturers in 2017 accounted for over 70% of the market share.

China's strength in the global biomedical cryogenic storage market is also significant. Domestic companies represented by Haier Biology, Aucma, and Zhongke Meiling have successively broken through core technologies and gradually started import substitution. In 2017, domestic manufacturers accounted for more than 60% of the market share, and the top five manufacturers accounted for more than 80% of the market.

Haier Biology is in a leading position in the domestic and global biomedical cryogenic storage industry. With nearly 20 years of R&D and key technology, Haier Biotechnology is one of the first companies to achieve large-scale production of cryogenic storage equipment in China, which will lead the field of medical low-temperature storage to develop steadily.

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