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Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthc.....
Cryogenic Vials Market: By Material By Capacity, By End User and Geography
Cryogenic Vials Market: By Material By Capacity, By End User and Geography
Cryogenic Vials Market Size was estimated at US$ 320.1 million in 2022 and is poised to grow at a significant CAGR of 6.2% from 2023-2029. Cryogenic vials are used to store samples for lengthy periods of time and are thought to be the best and most leak-proof option. It's ideal for storing a variety of specimens as well as biological materials at extremely low temperatures. The vial's rapid thread design aids in both removal and tightening. They're usually packaged in tamper-proof, unique safety-lock bags.Industry trends in the market are evolving, which will aid players in developing successful long-term strategies. Both established and emerging markets have implemented business growth techniques. COVID-19 is an unprecedented worldwide public health crisis that has impacted practically every business, and its long-term repercussions are expected to have an influence on industry growth during the projection period. Our continuous study is enhancing our research approach to guarantee that fundamental COVID-19 concerns and potential solutions are included. The research examines COVID-19 in light of changes in consumer behaviour and demand, purchasing patterns, supply chain re-routing, market dynamics, and government involvement. The Cryogenic Vials Market report considers the influence of COVID-19 on the market and includes insights, analysis, projections, and predictions.
Study Period
2024-2030Base Year
2023CAGR
6.2%Largest Market
North AmericaFastest Growing Market
Europe
The global cryogenic vials market is primarily driven by surge in demand for biobanking and growth in biotechnological industry. In addition, advancements in supply chain management lead to ease in the transport and storage of cryogenic products expected to fuel the global cryogenic vials market over the forecast period. Furthermore, rise in R&D segment may positively impact the growth of market share. However, cryogenic vials does not allow the frequent confirmation testing and chances of contamination are expected to hamper the global cryogenic vials market over the forecast period.
Geographically cryogenic vials market is divided into five key regions, i.e. North America, Asia Pacific, Europe, Latin America, and The Middle East and Africa.North America cryogenic vials market is projected to grow at significant rates owing to the factors such as well established pharmaceutical and biotech sector and increase in the R&D activities related to the biotechnology that requires the cryogenic storage products. Furthermore, growing demand for cell banks expected to boost the North America cryogenic vials market. Europe cryogenic vials market is expected to have notable market growth rate owing to the presence of the major market players and advancements in biotechnological industry leading to the rise in the research and development activities. Asia Pacific cryogenic vials market is expected to have promising growth opportunities owing to rapid development in Pharma and Biotechnological industries due to global expansion of the local and multinational players. In addition, increase in biotechnological research activities in the region due to low cost and rise in demand for the cell and biobanks are expected to boost the Asia Pacific cryogenic vials market.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2022 |
US$ 320.1 million |
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Market CAGR |
6.2% |
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By Material |
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By Capacity |
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By End User |
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The cryogenic vials market is projected to expand at a CAGR of 6.2% during the forecast period.
Thermo Fisher Scientific Inc. (U.S.), Wheaton Holding Corporation (U.S.), Santa Cruz Biotechnology, Inc. (U.S.), BioCision, LLC (U.S.), Starlab International GmbH, Argos Technologies, Inc. (U.S.)
North-America is the fastest-growing region for cryogenic vials market
Key opportunities for the cryogenic vials market include growing demand in biobanking, regenerative medicine, and vaccine storage, driven by advancements in life sciences and healthcare research.
Cryogenic Vials Market Size was estimated at US$ 320.1 million in 2022
Key Market Players
Author
Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthcare domain, encompassing pharmaceuticals, medical devices, and diagnostics. A graduate in Pharmacy, he possesses a strong foundation in the intricacies of the healthcare sector. He further enhanced his expertise by pursuing an MBA in Pharmaceuticals, equipping him with valuable business acumen. His analytical skills and market insights have contributed to strategic decision-making and enhanced market positioning for various healthcare organizations. Committed to driving innovation and excellence, Muni continues to seek opportunities to improve healthcare delivery through data-driven insights.