Cryogenic containers are used for cryopreservation, a method used to preserve living tissues and cells at very low temperature. Cryopreservation offers various advantages such as indefinite preservation of biological samples and prevention of contamination of bacterial and fungal origin. Cryogenic containers are used to store or transfer biological samples at cryogenic temperature. These containers are also called cryo-cans. These are vacuum insulated containers used to store cryogenic liquids. Vacuum reduces heat transfer, which in turn reduces the vaporization of cryogenic liquid stored inside the cryogenic container. It is a set of two containers separated by vacuum. Cryogenic container’s inner pressure vessel is made up of borosilicate or stainless steel. Inner pressure vessel has the capacity to bear cryogenic temperature. Outer vessel is made up of carbon steel or stainless steel. It is never exposed to cryogenic temperature. There is an insulating material in the space between inner pressure vessel and outer vessel. Cryogenic containers are used to store liquid nitrogen, liquid oxygen, liquid argon, and liquid helium.
Features such as maximum coolant retention, user-friendly, and durability, increase in usage of cryosurgery in cancer treatment, rise in awareness about cryopreservation of cells or organs, and surge in the number of research activity in developed and developing countries are the major factors projected to drive the global cryogenic containers market during the forecast period. Stringent regulatory guidelines and 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 segmented based on product, end-user, and region. In terms of product, the cryogenic containers market can be classified into vials, cryoboxes, containers, cryo tubes & vials, and cryogenic supply tanks. The containers segment dominated the global cryogenic containers market, as large volume of liquid nitrogen can be stored in these containers for longer duration. The containers segment can be categorized into portable containers, storage containers, and transport containers. The storage containers segment dominated the cryogenic containers market, as liquid nitrogen has the tendency to evaporate at a faster rate and the evaporation rate can be controlled using storage containers. Cryo tubes & vials was the second largest segment of the cryogenic containers market. Large number of players offer different color-coded vials for sorting and storing different types of biological sample.
In terms of end-user, the global cryogenic containers market can be divided into hospitals, pharmaceutical companies, research institutes, and others. Research institutes was the largest segment of the global cryogenic containers market, as liquid nitrogen is used in bulk to store multiple biological samples in research organizations. The pharmaceutical companies segment is also expected to witness strong growth during the forecast period.
In terms of region, the global cryogenic containers market can be segmented into North America, Europe, Asia Pacific, Lain America, and Middle East & Africa. North America was the leading market for cryogenic containers because of presence of well-established research and development infrastructure. Europe was the second leading cryogenic containers market due to large number of extensive research projects being conducted in the region. The cryogenic containers market in Asia Pacific is expected to grow at a rapid pace during the forecast period, as research organizations in developing countries engage in international collaborations which is providing these organizations funding to improve and equip their laboratory infrastructure.
Key players operating in the global cryogenic containers market include Thermo Fisher Scientific, Inc., INOX India Pvt. Ltd., Axcel Gases, Cryo Diffusion S.A.S, Cryofab, VRV S.p.A., and Corning Incorporated.
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The following regional segments are covered comprehensively:
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1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
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