A vial is a small cylindrical glass container which is used to hold liquid medicines. Cryogenic vials are designed to store and to transport biological material or samples such as human or animal cell, serum and antibody, at temperatures as low as -196°C, with the help of cap. Sterile cryogenic vials are developed to store biological material at extreme temperature. Cryogenic vials are manufactured from polypropylene and sterilized by gamma radiation. The cryogenic vials caps are manufactured from medical polyethylene (PE) and are co-molded with a layer of thermoplastic elastomer (TPE), which provides the leak-proof benefits of an o-ring to minimize the risk of contamination.
Cryogenic vials caps (contains silicone packing inside for air tightness) come either in wide range of colors (generally red, blue, pink, white, green and yellow coded) or in natural color with cap inserts, which provides quick individual identification of cryogenic vials to simplify inventory maintenance. Cryogenic vials are sterile, non-cytotoxic and non-pyrogenic. Cryogenic vials come in a various range of volumes, usually from 1 to 5 ml, with suitable graduation marks and labeling areas for easy testing. A barcode is used for automated data collection, sample identity, and accurate sample inventory purpose. The global cryogenic vials cap market is expected to register significant CAGR during the forecast period.
Global Cryogenic Vials Cap Market: Drivers and Restraints
The increase in growth of pharmaceuticals industries across the globe, is a key factor, which is majorly driving the demand for cryogenic vials cap. Moreover, the increasing prevalence of chronic diseases such as diabetes, cancer, and communicable diseases is expected to drive the growth of the global cryogenic vials cap market. Also, rise in aging population worldwide, and a rapid pace of industrialization are also expected to fuel the demand for global cryogenic vials cap market over the forecast period
However, high cost associated with cryogenic vials is a primary concern, which is hindering the growth of the global cryogenic vial cap market throughout the next decade.
Global Cryogenic Vials Cap Market: Segmentation
The global cryogenic vials cap market is segmented on the basis of cap type, bottom type, and end-use industry.
On the basis of cap type, the global cryogenic vials cap market is segmented into:
- Outer Cap (External Threaded)
- Inner Cap (Internal Threaded)
On the basis of bottom type, the global cryogenic vials cap market is segmented into:
- Round (Elliptical) Bottom
- Flat Bottom
On the basis of end use industry, the global cryogenic vials cap market is segmented into:
- Medical Research Institution/Laboratory
Global Cryogenic Vials Cap Market: Regional Outlook
Based on the geographies, the global cryogenic vials cap market is segmented into five key regions, namely North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to account for the maximum revenue share among all the regions, this is due to the economic manufacturing conditions and favorable trade conditions. Asia Pacific is expected to remain the promising regional market during the forecast period, this is due to rapid pace of industrialization. Owing to the presence of major market player namely, Starlab International GmbH, the Europe cryogenic vials cap market is expected to register decent CAGR during the forecast period. On the other hand, Latin America and MEA are anticipated to exhibit modest growth rate for cryogenic vials cap market over the forecast period.
Global Cryogenic Vials Cap Market: Key Players
Some of the major players identified in the global cryogenic vials cap market are
- Sumitomo Bakelite Co., Ltd.
- Simport Scientific
- Globe Scientific Inc.
- Starlab International GmbH
- Heathrow Scientific
- Thermo Fisher Scientific Inc.
- Lab Depot Inc.
- Caesa-Labs Inc.
- E&K Scientific Products, Inc.
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
- 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.