Cryogenic Vials Market to grow by USD 66.16 million from 2022 to 2027

Aug 17, 2023

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10 Jul, 2023, 05:15 ET

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NEW YORK, July 10, 2023 /PRNewswire/ -- The cryogenic vials market size is set to grow by USD 66.16 million between 2022 and 2027 and register a CAGR of 5.38%, according to Technavio's latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Technavio offers in-depth market insights that assist global businesses to obtain growth opportunities. Read Sample Report

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Abdos Labtech Pvt. Ltd., AHN Biotechnologie GmbH, Avantor Inc., Azer Scientific Inc., Biologix Group Ltd., Brooks Automation Inc., Cole Parmer Instrument Co. LLC, Corning Inc., DWK Life Sciences GmbH, EZ BioResearch LLC, LVL Technologies GmbH and Co. KG, Merck KGaA, Narang Medical Ltd., Pioneer Impex, SARSTEDT AG and Co. KG, Starlab International GMBH, Sumitomo Bakelite Co. Ltd., Thermo Fisher Scientific Inc., Wuxi NEST Biotechnology Co. Ltd., and Ziath Ltd. are some of the major market participants.

Cryogenic Vials Market 2023-2027: Segmentation

The market share growth by the internally threaded cryogenic vials segment will be significant during the forecast period. In 2022, internally threaded cryogenic vials will be the largest segment of the market and will persist to be the largest segment during the forecast period. It has screw threads on the inner or concave surface of the vials and cryogenic vials expand when exposed to extreme temperatures. However, the expansion range in such events is minute. They may expose the biomaterials to the risk of contamination. Due to the equal dimension outside the tube for caps and vials, to overcome such issues, internally threaded cryogenic vials offer efficient sealing capabilities, which expand evenly with a change in temperature. During extreme conditions, it prevents the risk of contamination and maintains the sterility of biomaterials.

Cryogenic Vials Market 2023-2027: Vendor Analysis and Scope

To help businesses improve their market position, the cryogenic vials market provides a detailed analysis of around 15+ vendors operating in the market. Some of these vendors include Abdos Labtech Pvt. Ltd., AHN Biotechnologie GmbH, Avantor Inc., Azer Scientific Inc., Biologix Group Ltd., Brooks Automation Inc., Cole Parmer Instrument Co. LLC, Corning Inc., DWK Life Sciences GmbH, EZ BioResearch LLC, LVL Technologies GmbH and Co. KG, Merck KGaA, Narang Medical Ltd., Pioneer Impex, SARSTEDT AG and Co. KG, Starlab International GMBH, Sumitomo Bakelite Co. Ltd., Thermo Fisher Scientific Inc., Wuxi NEST Biotechnology Co. Ltd., and Ziath Ltd.

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Cryogenic Vials Market – Market DynamicsKey factor driving market growth

The increasing adoption of cryopreservation procedures is the major factor notably driving the cryogenic vials market growth. The cryopreservation procedure uses ultra-low temperatures (<150°C) for preserving biological samples, and this procedure is finding extensive adoption in a range of applications, including preservation of cells and organs, molecular biology and biochemistry, cryosurgery, food sciences, and medical applications, among others. In storing samples for a long time and maintaining consistency and reproducibility in these applications, laboratory clinicians, researchers, and medical practitioners are finding the cryopreservation procedure to be extremely useful. The significant demand for artificial insemination has advanced cryopreservation practices among IVF centers and fertility clinics. They are efficient in maintaining optimum storage conditions and the sufficient retrieval of biological materials. Thus, the demand for cryogenic vials is increasing in tandem with the substantial increase in cryopreservation procedures, which, in turn, will fuel the growth of the global cryogenic vials market during the forecast period.

Major Trend

The increasing demand for stem cell cryopreservation is an emerging trend shaping market growth. Stem cell-based therapies and treatment options are experiencing improved adoption in pre-clinical and clinical settings. The evolution of stem cell-based therapies that vastly use hematopoietic stem cells, mesenchymal stem cells, and pluripotent stem cells is attaining traction due to their rising use in developing regenerative medicines and personalized treatment options. The emphasis on developing methods for cryopreserving induced pluripotent and embryonic stem cells is increasing. Furthermore, improvements in slow cooling protocols and the use of novel storage systems are providing efficient cryopreservation options, which are compliant with GMP requirements, regulations, automation, and scale-up productions. Such developments are supporting in driving the demand for cryogenic vials, specifically in stem cell-based research applications.

Significant Challenge

The cross-contamination issues related to poor manufacturing are a major challenge hindering market growth. The preservation of biomaterial integrity, which is dependent on their molecular and macroscopic aspects, is very important in the course of cryopreservation. The macroscopic factors involve active sealing capabilities of the manufacturing material of storage systems (including cryogenic vials) and their capability to maintain a consistent temperature. Nevertheless, the shift from glass to plastic cryogenic tubes has brought about substantial options for end-users by allowing them to freeze samples with less effort than in traditional vials. Strict rules on the prevention of contamination in preserved samples have forced end-users to emphasize majorly on aspects influencing the control of in-vitro conditions in cryopreservation operations. Manufacturing tubes with the efficient selection of materials and their capability of optimum performance in low-temperature conditions are vital requirements, ultimately creating a difficult situation for product manufacturers operating in this highly regulated market. Standard requirements negatively affect vendors' businesses by neutralizing their efforts and resources deployed in product development if they fail to certify the products.

Cryogenic Vials Market 2023-2027: Key Highlights

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Cryogenic Vials Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.38%

Market growth 2023-2027

USD 66.16 million

Market structure

Fragmented

YoY growth 2022-2023(%)

4.83

Regional analysis

North America, Europe, Asia, and the Rest of World (ROW)

Performing market contribution

North America at 36%

Key countries

US, Germany, UK, France, and Japan

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Abdos Labtech Pvt. Ltd., AHN Biotechnologie GmbH, Avantor Inc., Azer Scientific Inc., Biologix Group Ltd., Brooks Automation Inc., Cole Parmer Instrument Co. LLC, Corning Inc., DWK Life Sciences GmbH, EZ BioResearch LLC, LVL Technologies GmbH and Co. KG, Merck KGaA, Narang Medical Ltd., Pioneer Impex, SARSTEDT AG and Co. KG, Starlab International GMBH, Sumitomo Bakelite Co. Ltd., Thermo Fisher Scientific Inc., Wuxi NEST Biotechnology Co. Ltd., and Ziath Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Type

7 Market Segmentation by End-user

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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