by The global Cryosleep Market is estimated to be valued at US$ 3.18 Bn in 2023 and is expected to exhibit a CAGR of 22% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Cryosleep involves placing a person whose medical condition cannot be reversed by contemporary medicine into a state of deep cryonic suspension with the specific hope that repair or resuscitation may be possible in the future using more advanced medical or nanotechnological techniques. Cryogenic preservation has emerged as one of the most promising and fastest growing segments of the cryosleep market owing to its unique ability to indefinitely suspend biological aging and maintain the possibility of future revival.
Market Overview:
The cryosleep market comprises products and services involved in cryopreservation of human beings or pets in liquid nitrogen or other cryoprotectant solutions through cryonic suspension technology. Cryosleep offers the possibility of life extension by preventing further aging and cellular degeneration during deep hypothermic state and hoping to revive the individuals in future when advanced medical technologies are available.
Market key trends:
One of the key trends fueling growth in the cryosleep market is the rising preference for cryonic preservation over traditional burial or cremation methods among those who want to take advantage of future medical advances. As the costs of cryopreservation have declined significantly over the past decade and more private companies offer such services, many individuals view cryopreservation as a smarter investment than conventional funeral arrangements that offer no option of future revival. The ability of cryosleep to potentially extend human lifespan indefinitely continues to appeal to a growing number of people, thereby driving increased adoption of cryopreservation and growth of the overall cryosleep industry.
Segment Analysis
The Global Cryosleep Market is segmented by type, cryochamber, end use industry and region. Based on type, the market is divided into static cryosleep and dynamic cryosleep. The static cryosleep segment dominated the market in 2022 and is expected to continue its dominance during the forecast period due to its affordability and ease of operation as compared to dynamic cryosleep chambers.
Key Takeaways
The global cryosleep market is expected to witness high growth, exhibiting a CAGR of 22.% over the forecast period, due to increasing demand for medical cryopreservation.
Regional analysis:
North America is expected to dominate the cryosleep market during the forecast period. This is attributed to high adoption of advanced healthcare technologies in the region. The Asia Pacific region is expected to witness the fastest growth owing to rising medical tourism and increasing healthcare expenditure in emerging economies such as China and India.
Key players:
Key players operating in the cryosleep market are HyperSleep Corporation, CryoLife Innovations, AstraNap Solutions, EternaRest Cryonics, StasisTech Enterprises, NeuroFreeze Inc., FrozeLife Biotech, CryoDream Systems, TimeCapsule Cryogenics, StarHibernation Technologies, FreezeTech Innovations, EonCryo Dynamics, IceBound Ventures, FrozenEra Solutions, CryoRevive Inc. HyperSleep Corporation held the largest market share in 2022 due to its efficient static cryochambers.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
