Cryoport provides temperature-controlled supply chain solutions for life sciences companies, with a primary focus on cell and gene therapies (CGT). CGT products — such as CAR-T cell therapies — are often derived from a patient's own cells and must be transported, stored, and handled with precise temperature control and rigorous regulatory documentation. Cryoport argues it is the only pure-play, end-to-end supply chain platform built specifically for this market, supporting approximately 70% of all active CGT clinical trials. The company operates two segments: Life Sciences Services (~55% of revenue) and Life Sciences Products (~45% of revenue). The services segment covers BioLogistics (per-shipment temperature-controlled transport), BioStorage (long-term cryogenic storage), BioServices (kitting, labeling, and fulfillment), and IntegriCell (cryopreservation of cellular starting materials upstream in the CGT manufacturing process). The products segment is built around MVE Biological Solutions, which manufactures cryogenic freezers, dewars, and transport vessels, and claims roughly 70% global market share in cryogenic systems. Services revenue is largely transactional and scales with CGT therapy approvals and patient volumes; once embedded in a therapy's supply chain, switching costs are high due to regulatory validation requirements. MVE revenue is more capital-equipment driven and tied to life sciences capex cycles. Cryoport's growth is tightly linked to the pace of CGT approvals — the company supported 20 commercially approved therapies at year-end 2025, up from 14 at end of 2023, and expects 9 more approvals in 2026.