Cryosleep is a procedure involving a deep cryogenic sleep state for medical and experimental purposes. It involves extreme lowering of body temperature to very low non-lethal temperatures in order to delay ageing and various diseases such as cancer. The procedure aims to preserve cognitive abilities and muscle memory in a cryonic suspension. Over time, as technology advances, the frozen person could theoretically be revived when a cure is found for whatever killed or disabled them. The cryosleep market comprises of cryopreservation systems, cryoprobes, cryoablation devices, and accessories and consumables. Cryosleep is gaining popularity for preserving terminally ill patients for future revival. The global need for palliative treatments of neurological disorders is also propelling the cryosleep market growth.
The Global Cryosleep Market is estimated to be valued at US$ 3.67 Mn in 2024 and is expected to exhibit a CAGR of 8.9% over the forecast period 2024 to 2030.
The global rise in geriatric population suffering from neurodegenerative diseases such as Alzheimer's and Parkinson's is a key factor driving the demand for cryosleep procedures. Cryosleep offers hope for terminally ill patients by preserving their body and brain until a cure is found.
Key Takeaways
Key players operating in the Cryosleep market are Ipsen Pharma, Allergan, Acorda Therapeutics, Inc., Merz Pharma, Teva Pharmaceutical Industries Ltd., Novartis AG, Sun Pharmaceutical Industries Ltd., Beximco Pharmaceuticals Ltd., Johnson & Johnson Private Limited, Zydus Cadila, F. Hoffmann-La Roche Ltd., and Elite Pharmaceuticals Inc. These players are focusing on developing advanced cryosleep systems and technologies to gain a competitive edge in the market.
The growing prevalence of cancer and neurological disorders globally presents lucrative opportunities for cryosleep procedures. According to the World Health Organization, neurological disorders affect over 1 billion people worldwide with Alzheimer's and other dementias affecting over 55 million people. The number is anticipated to rise to 78 million by 2030 and 139 million by 2050.
North America holds a significant share in The Cryosleep Market owing to high awareness and adoption of advanced medical technologies. However, Asia Pacific is witnessing rapid growth and is emerging as a major market. This can be attributed to rising medical tourism, increasing healthcare expenditures, and growing geriatric population in countries such as China and India.
Market drivers
Growing geriatric population prone to neurodegenerative diseases is a key driver as cryosleep offers hope for future treatment to terminally ill patients. According to the United Nations, the number of people aged 60 years and above is expected to double by 2050 to reach around 2 billion. Additionally, advancements in cryopreservation technologies are enabling smoother operational procedures and rendering the process safer which is encouraging adoption rates.
Market Restrains
High costs associated with cryosleep procedures restrict patient access and adoption rates. Current adult human whole-body cryopreservation costs over $200,000 while brain-only cryopreservation costs around $80,000 in the US which many cannot afford. Ethical concerns regarding the legal and medical technical challenges of possible human revival from cryopreservation also hinder the market growth to a certain extent. Strict regulations governing the process present another challenge for market players.
Segment Analysis
The cryosleep market can be segmented into two major sub segments - cryopreservation and cryosleep services. The cryopreservation sub segment holds the dominant market share currently due to the increasing number of people opting for cryopreservation of their sperm, eggs and embryos. Cryopreservation helps preserve reproductive cells and tissues for future use by individuals undergoing cancer treatments or reproductive medicine procedures. Though cryosleep services for human long term preservation is still at a nascent stage, the interest and research around it is steadily growing.
Global Analysis
Regionally, North America holds the largest share in the cryosleep market currently due to factors such as presence of major players, developed healthcare infrastructure, more awareness and higher adoption rate of cryopreservation services in the region. Europe is the second largest market due to similar reasons. However, Asia Pacific region is expected to witness the highest growth during the forecast period owing to growing medical tourism, rapidly developing healthcare infrastructure and increasing fertility and cancer rates in developing countries such as India and China in the region. Moreover, rising awareness about reproductive and storage biotechnologies coupled with growing disposable income levels is also anticipated to drive the demand for cryosleep services in Asia Pacific region.
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