Global Cryogenic Vials Market: Snapshot
Rising spends on research and development of new drugs by governments in major economies is providing a major fillip to demand for cryogenic vials. Apart from that, cryopreservation feature of cryogenic vials, mainly needed to preserve proteins, animal tissues, and cells at far below subzero temperature, is also boosting their demand. The cryogenic vials can safely store samples up to -196 degree centigrade.
A couple of drawbacks of cryogenic vials, on the flipside, are dealing a blow to their demand. For instance, their seal integrity may sometimes get damaged upon immersion in liquid nitrogen, resulting in cross contamination of liquid nitrogen with the biological sample. Also, prolonged storage of cryogenic vials in the liquid nitrogen may cause explosion.
A Transparency Market Research study expects the global cryogenic vials market to become worth US$199.3 mn by 2027-end from US$131.8 mn in 2016 by rising at a CAGR of 3.9% from 2017 to 2027.
Self-standing Cryogenic Vials See Greater Demand Since They Do Not Need Extra Storage Space
The different types of products in the global cryogenic vials market are self-standing and round-bottom.
Of them, the segment of self-standing cryogenic vials hold over half the share in the market. They are sought after since they do away with the need for extra storage space in the form cryogenic racks, which are mandatory for round bottom cryogenic vials.
Depending upon end use, the key segments of the global cryogenic vials market are research organizations, drug manufacturers, healthcare institutions, etc. Of them, the segment of research organizations accounts for a leading share in the market. Currently it holds about 56.2% share in the market. In the years ahead too, the segment is predicted to retain its dominant share by rising at a CAGR of 4.1% from 2017 to 2027. The segment of drug manufacturers is expanding at a healthy clip too owing to their thrust on discovery of antibiotic drugs that require cryogenic vials for cryopreservation of tissues, proteins, RNA, and DNA at a very low temperature.
Thrust on New Drug Development Makes North America Dominant Region
From a geographical standpoint, at present North America dominates the market with maximum share both in terms of value and volume because of the substantial allocations for research and development of new drugs. The region is projected to consume 1,420.6 million units of cryogenic vials by 2027-end. The region is also expected to account for a share of 37.3% by the end of forecast period on the back of economic manufacturing processes and conducive trade environment.
The market in Europe is predicted to clock a CAGR of 3.8%, over the forecast period, rising from an estimated US$42.1 mn in 2017 to US$61.1 mn by the end of the forecast period. Europe currently accounts for about 30.9% of the global cryogenic vials market, in terms of value.
Asia Pacific is considered a promising region in the global cryogenic vials market, which is expected to grow at a CAGR of 3.7%, in terms of value. The market was valued at US$30.6 mn in 2016 and is expected to reach US$45.6 mn by the end of 2027.
Some of the key players in the global cryogenic market are Thermo Fisher Scientific Inc., Corning Incorporated, Sigma-Aldrich Corporation, VWR International LLC, BioCision, LLC, Sumitomo Bakelite Co., Ltd., Starlab International GmbH, Incell Technologies, Ziath Ltd, Argos Technologies, Inc., Azer Scientific, Inc., E&K Scientific Products, Inc., Evergreen Scientific, BIOLOGIX GROUP LTD, Abdos Labtech Private Limited, Simport Plastics Limited, and EZ Bio Research LLC.
Global Cryogenic Vials Market: Overview
This report provides forecast and analysis of the cryogenic vials market on global level. It provides actual data of 2016 along with estimated data of 2017, and forecast data up to 2027 in terms of revenue (US$ Mn) and volume (Mn Units). The report also includes macroeconomic indicators along with an outlook on cryogenic vials consumption pattern across the globe. It includes drivers and restraints of the global cryogenic vials market and their impact on each region during the forecast period. The report also comprises the study of current issues with end users and opportunities for cryogenic vials manufacturers. It also includes value chain and pricing analysis.
In order to provide users of this report with comprehensive view of the market, we have included detailed competitiveness analysis and company players with their SWOT analysis and strategy overview. The dashboard provides detailed comparison of cryogenic vials manufacturers on parameters such as operating margin, total revenue, and product portfolio. The study encompasses market attractiveness analysis by capacity type, by product type, by material type, by end use, by closure type, and by region.
TMR triangulates the data via different analysis based on supply side, demand side, as well as dynamics of cryogenic vials market.
TMR not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
Global Cryogenic Vials Market: Segmentation
The report includes consumption of cryogenic vials and the revenue generated from sales of cryogenic vials across the globe and key countries. By capacity type, cryogenic vials market is segmented as 0.5ml-1ml, 1ml-2ml, 2ml-5ml. By product type, cryogenic vials market is segmented into self-standing and round bottom. By material type, cryogenic vials market is segmented as polypropylene and polyethylene. By end use, cryogenic vials market is segmented into research organization, drug manufacturers, healthcare institution and others segment. By closure type, cryogenic vials market is segmented into external thread and internal thread segment.
Global Cryogenic Vials Market: Research Methodology
Market numbers have been estimated based on extensive secondary and primary research, average pricing of cryogenic vials by capacity size and the revenue is derived through regional pricing trends. Market size and forecast for each segment have been provided in the context of global and regional markets. The cryogenic vials market has been analyzed based on expected demand. Prices considered for the calculation of revenue are average regional prices obtained through primary quotes from numerous regional cryogenic vials manufacturers.
All key end users have been considered and potential applications have been estimated on the basis of secondary sources and feedback from primary respondents. Country demand patterns have been considered while estimating the market for various end users of cryogenic vials in the different regions. Bottom-up approach has been used to estimate the cryogenic vials market by regions. Global market numbers by capacity type, by product type, by material type, by end use, by closure type, have been derived using the bottom-up approach, which is cumulative of each country’s demand. The same has also been validated from top-down approach. Company-level market share has been derived on the basis of revenues reported by key manufacturers. The market has been forecast based on constant currency rates.
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, FAO, Packaging Digest, and Hoover’s, and company annual reports and publications.
Global Cryogenic Vials Market: Competitive Analysis
The report provides detailed competitive and company profiles of key participants operating in the Global market. Key Players of the cryogenic vials market are Thermo Fisher Scientific Inc., Corning Incorporated, DWK Life Sciences GmbH, Sigma-Aldrich Corporation, VWR International LLC, BioCision, LLC, Sumitomo Bakelite Co., Ltd., Starlab International GmbH, Capp ApS, Incell Technologies, Ziath Ltd, Argos Technologies, Inc., Azer Scientific, Inc., E&K Scientific Products, Inc., Evergreen Scientific, CELLTREAT Scientific Products, BIOLOGIX GROUP LTD, Abdos Labtech Private Limited, Simport Plastics Limited, EZ Bio Research LLC.
Cryogenic vials market segmentation is below
Global Cryogenic Vials Market, by Capacity
Global Cryogenic Vials Market, by Product
- Round bottom
Global Cryogenic Vials Market, by Material
Global Cryogenic Vials Market, by End Use
- Research organization
- Drug manufacturers
- Healthcare institutions
Global Cryogenic Vials Market, by Closure Type
- External thread
- Internal thread
Global Cryogenic Vials Market, by Region
- North America
- Latin America
- Asia Pacific (APAC)
- Middle East and Africa (MEA)