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.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

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?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Cryogenic Containers Market

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