The cryogenic vials market is poised for substantial growth, with projected sales rising at a commendable Compound Annual Growth Rate (CAGR) of 4.2% over the forecast period. The market’s estimated valuation in 2022 stands at a significant US$ 158.1 million, and it is expected to experience robust expansion, ultimately surpassing US$ 238.6 million by the year 2032.
Among the various closure types available for cryogenic vials, two prominent categories take the spotlight: internally threaded cryogenic vials and externally threaded cryogenic vials. Notably, internally threaded cryogenic vials claim the lion’s share, contributing to a substantial 55% of the total revenue. This dominance reflects their widespread use and preference across various applications.
Furthermore, when considering the primary application industry for cryogenic vials, the research sector emerges as the frontrunner, accounting for a significant share of over 35%. This underscores the indispensable role cryogenic vials play in preserving and safeguarding precious research samples, contributing significantly to their widespread adoption and market growth.
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Major Factors and Applications Driving the Demand for Cryogenic Vials
The cryopreservation function of cryogenic vials plays a pivotal role in safeguarding temperature-sensitive samples, including cells, animal tissues, and proteins. These valuable specimens are highly susceptible to the alteration of their chemical properties when exposed to room temperature. Hence, the cryogenic vials are indispensable for preserving them well below sub-zero temperatures. Furthermore, the demand for cryogenic vials is poised for continued growth, thanks to their proficiency in virus preservation, exceptional sealing performance, user-friendly sample collection, and portability.
Cryogenic vials find a multitude of applications within the healthcare sector. This burgeoning utilization can be attributed to the escalating prevalence of chronic diseases such as diabetes, communicable diseases, and cancer. Additionally, the integration of barcoding technology with cryogenic vials not only allows for the incorporation of vital data for future reference but also streamlines the process of easy identification. These features are expected to propel the adoption of cryogenic vials in healthcare institutions, further underlining their significance in modern healthcare and research settings.
Market Drivers:
- Biobanking and Research: The growth of biobanking, genomics, and life sciences research has driven the demand for cryogenic vials for the long-term storage of biological samples, DNA, and cell cultures.
- Pharmaceutical and Healthcare: Cryogenic vials are used in pharmaceutical and healthcare applications, including the storage of vaccines, stem cells, and tissues, which have seen increased demand.
- Drug Discovery and Development: Cryogenic vials are essential in drug discovery and development processes, including the storage of high-throughput screening samples and compound libraries.
- COVID-19 Vaccine Distribution: The distribution and storage of COVID-19 vaccines at ultra-low temperatures have boosted the need for cryogenic vials and related storage solutions.
- Technological Advancements: Innovations in materials and designs of cryogenic vials have improved sample integrity, reducing the risk of contamination and sample degradation.
- Biomedical Research: Cryogenic vials play a crucial role in various biomedical research areas, such as regenerative medicine and personalized healthcare.
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Top 5 Key Companies Revamping the Cryogenic Vials Market Space
The cryogenic vials market share is expected to increase as manufacturers are looking to expand their production and presence in the market, through various collaborations and partnerships. Furthermore, the industry is becoming highly competitive amongst market players in terms of product variation and pricing.
- In January 2022, Schreiner MediPharm, a Germany-based global provider of innovative functional label solutions for the healthcare industry, developed Freeze-Lock, a cryo label that permanently withstands the sub-zero storage and transport temperatures needed for many cell and gene therapy medications or clinical trials – including those for COVID-19 mRNA vaccines. The new solution comprises two interlocking label layers that ensure reliable adhesive strength and product information readability.
Key Market Players
- 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
Key Segments Profiled in the Cryogenic Vials Market Survey
By Product Type:
- Self-Standing
- Round Bottom
By Capacity Type:
- 0.5ml-1ml
- 1ml-2ml
- 2ml-5ml
By Material Type:
- Polypropylene
- Polyethylene
By Closure Type:
- External Thread
- Internal Thread
By End User:
- Research Organization
- Drug Manufacturers
- Healthcare Institutions
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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