Medical Cryogenic Storage Containers Market size was estimated at $5,979.3 Million in 2019 and is expected to reach $8,357.6 Million by 2027, growing at a CAGR of 4.9% during the forecast period of 2020 to 2027.
Cryogenic containers are used for cryopreservation which is essentially a process used to conserve living tissues and cells at low temperatures. They are also used to store or transfer biological samples at cryogenic temperatures. These containers are also known as cry-o-cans. Development in technology, for example, coolant retention, friendly usage, and durability, increasing awareness about cryopreservation of organs and cells, and rise in the research activities in countries across the globe, are anticipated to cause a rise in the market for medical cryogenic storage containers. Strict regulation and rules and the leakage risk that comes with these cans in case of manufacturing defects can cause a hindrance in the market.
Stringent regulatory guidelines and the risk of leakage due to manufacturing defects are anticipated to restrain the cryogenic containers market during the forecast period. Fabrication of cryogenic containers according to end-user requirements by players is expected to propel the global cryogenic containers market during the forecast period.
The global cryogenic containers market can be divided on the basis of product, end-user, and locality. These containers have been dominating the market as it can store a large volume of liquid nitrogen for many hours. The storage containers are considered the best as the evaporate rate of the liquid nitrogen can be regulated in it.
r is basically an antiseptic product usually available in the form of liquid, gel, or foam and is mostly used to decrease infectious agents on the hands. In most scenarios, hand washing with soap and water is preferred over hand sanitizers. It is used widely, by everyone from medical settings to households and every regular setting. It is used to prevent the transfer of infection, which is the most caused through hand transmission, moreover leading to several diseases such as nosocomial foodborne diseases and other illnesses. The global hand sanitizer market size is anticipated to grow at a Combined annual growth rate of 9.9% from 2020 to 2027.
Factors like consumer’s liking towards health and wellness and product market creation such as the addition of fragrances, or coloring in the sanitizers are projected to lead a rise in the market for sanitizers. Furthermore, with the better living conditions, the increasing health expenditure, people becoming more aware of the hand hygiene and support from world health organizations, have augmented the growth of the sanitisers market worldwide. But another flip side of the coin is that the health hazards associated with the chemical ingredients like alcohol drying up hands are also predicted to hinder the growth of the market during the forecast period.
Medical Cryogenic Storage Containers Market Growth and Trends
The medical cryogenic storage containers market is anticipated to experience high growth because of a high demand due to its unique features such as maximum coolant retention, durability, user-friendliness, and durability. An increase in the usage of cryosurgery in treatment of cancer, rise in awareness about cryopreservation of cells or organs, and increase in research activity in developed and developing countries are major factors expected to drive the global cryogenic containers market in the forthcoming years. The containers segment dominates the global cryogenic containers market, as heavy volumes of liquid nitrogen can be stored in them for a longer duration. Of the segments they can be categorised into, the storage containers segment dominates the cryogenic containers market as liquid nitrogen tends to evaporate at a faster rate and its evaporation rate can be controlled using storage containers. There are various color-coded vials for sorting and storing different categories of biological sample, which widens the utility of these containers. End-user segments, where the global cryogenic containers market can be divided into hospitals, pharmaceutical companies, research institutes, and so forth, are directly impacting the market as their demand for cryogenic containers is soaring high. In fact, research institutes were the biggest segment of the global cryogenic containers market, as liquid nitrogen is used in heavy quantities to store a host of biological samples in research organizations. The pharmaceutical segment is also predicted to witness high levels of growth. Standard equipment used in cryogenic applications consist of containers, purifiers, cold traps, pressure vessels, and piping, where proper insulation is essential to the effectiveness of cryogenic elements because it ensures proper maintenance of temperature within the equipment which protects users while they handle materials in dangerous temperatures.
Stringent regulatory principles and the risk of leakage for manufacturing defects may restrain the cryogenic containers market.
Medical Cryogenic Storage Containers Market Competition
Key companies operating in this industry are Thermo Fisher, PHC Corporation, Haier Biomedical, B Medical Systems, Vestfrost Solutions, Helmer Scientific, KIRSCH, Eppendorf, Arctiko, Follett, Nihon Freezer, Angelantoni Life Science, Zhongke Meiling, Felix Storch, Aucma, So-Low, FIOCCHETTI, Labcold, Custom Biogenic Systems, Lec Medical, Statebourne Cryogenics, KW Apparecchi Scientifici, KRYOTECH, and Thalheimer Kühlung.
• Medical Cryogenic Storage Containers Market Revenue Estimation and Forecast (2020 – 2027)
• Production Estimation and Forecast (2020 – 2027)
• Sales/Consumption Volume Estimation and Forecast (2020 – 2027)
• Breakdown of Revenue by Segments (2020 – 2027)
• Breakdown of Production by Segments (2020 – 2027)
• Breakdown of Sales Volume by Segments (2020 – 2027)
• Gross Margin and Profitability Analysis of Companies
• Business Trend and Expansion Analysis
• Import and Export Analysis
Medical Cryogenic Storage Containers Market Segmentation
Product Outlook (Revenue, USD Million, 2020 - 2027)
• Medical Refrigerators (2℃-8℃)
• Blood Refrigerator (4℃-±1℃)
• Biomedical Freezer (-10℃--50℃)
• Ultra Low Freezers (-50℃--150℃)
• Liquid Nitrogen Tank (-150℃--196℃)
Application Outlook (Revenue, USD Million, 2020 - 2027)
• Medical Testing Center
• Disease Control and Prevention Center
Country (Revenue, USD Million, 2020 - 2027)
• United States
• South Korea
• Rest of Asia Pacific
• Rest of Europe
• Rest of South America
The Middle East and Africa
• Saudi Arabia
Medical Cryogenic Storage Containers Market Companies
• Thermo Fisher
• PHC Corporation
• Haier Biomedical
• B Medical Systems
• Vestfrost Solutions
• Helmer Scientific
• Nihon Freezer
• Angelantoni Life Science
• Zhongke Meiling
• Felix Storch
• Custom Biogenic Systems
• Lec Medical
• Statebourne Cryogenics
• KW Apparecchi Scientifici
• Thalheimer Kühlung
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