Cryogenic Boxes Market on the Rise: Anticipated Growth at a CAGR of 7.3% by 2032 | FMI

Anticipated to experience a robust Compound Annual Growth Rate (CAGR) of 7.3% from 2022 to 2032, the global cryogenic boxes market is set for substantial growth. Projections indicate a significant increase in market value, surging from US$ 326.2 million in 2022 to a notable US$ 657.3 million by 2032. This growth trajectory reflects the increasing demand for efficient and reliable cryogenic storage solutions across diverse industries, underlining the critical role of cryogenic boxes in preserving and safeguarding sensitive materials, biological samples, and other temperature-sensitive substances in scientific, medical, and industrial applications.

Designed to store and transport organic material at ultra-low temperatures, cryogenic boxes play a pivotal role in preserving cryogenic vials and tubes for both short and extended durations. The market for cryogenic boxes has experienced heightened penetration and growth, attributed to ongoing innovations in technologies and products by diverse market participants. These advancements have contributed to enhancing the overall efficiency and safety of cryogenic storage, fostering a positive trajectory for the cryogenic box market. The continuous evolution of products in response to the dynamic needs of scientific, medical, and industrial applications has further propelled the market’s expansion.

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As the world’s largest supplier of generic drugs, India plays a crucial role in providing affordable and high-quality pharmaceuticals to millions worldwide. The country boasts a substantial number of United States Food and Drug Administration (USFDA) and World Health Organization (WHO) Good Manufacturing Practices (GMP)-compliant facilities. Notably, India holds a dominant position in global vaccine production, accounting for 60% of the market. The nation is a key contributor, meeting 40 to 70% of the WHO demand for vaccines like Diphtheria, Tetanus, and Pertussis (DPT) and Bacillus Calmette–Guérin (BCG), and fulfilling 90% of the global demand for the measles vaccine.

Key Takeaways from Global Cryogenic Boxes Market 

• Plastic cryogenic boxes are expected to increase at the 7.8% CAGR during the projection period (2022-2032).  
• Paper & paperboard cryogenic box segment will witness fastest growth due to the easy biodegradable property of paper & paperboard cryogenic box 
• The U.S. cryogenic boxes market is estimated to expand 2.1x of the current value, by 2032. 
• The healthcare industry accounted for the 44% value share in 2021 and is poised to increase at a CAGR of 8% in the global market. 
• India cryogenic boxes market is expected to grow at a CAGR of 8.1%. between 2022 and 2032. 

“Cryogenic boxes are gaining traction in the pharmaceutical and healthcare sector. They are also gaining immense popularity as a result of the growing demand for shipping organic material at ultra-low temperatures.” –comments FMI Analyst

Global Cryogenic Boxes Market Landscape 

With big global and local competitors, the cryogenic box market is fiercely competitive. Customers can choose their sizes thanks to the market’s leading companies. Cryogenic boxes lids are also being innovated by several manufacturers in order to gain market share. Market shares are projected to change as a result of overall innovation in material, size, and appearance.

Some of the market’s major companies are

• Tarsons,
• Thermo Fisher Scientific Inc.,
• Cole-Parmer Instrument Company, LLC,
• Merck KGaA,
• ratiolab,
• BIOLOGIX GROUP LTD,
• Heathrow Scientific,
• Bioline Technologies,
• TENAK A/S,
• Deluxe Scientific Surgico Private Limited,
• CAPP,
• GENAXXON bioscience,
• Glassco,
• AHN Biotechnologie GmbH 

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Market Drivers-

1. Biomedical Research: Increasing research in fields like genomics, proteomics, and regenerative medicine necessitates the use of cryogenic boxes for storing biological samples at ultra-low temperatures.
2. Rising Demand for Cryopreservation: Cryogenic boxes play a vital role in cryopreserving biological materials, such as stem cells, tissues, and cord blood, for medical and research purposes.
3. Pharmaceutical Advancements: The pharmaceutical industry relies on cryogenic boxes for the safe storage of vaccines, drugs, and clinical trial samples at extremely low temperatures, ensuring product integrity.
4. Biobanking Expansion: The growth of biobanks, tissue banks, and cord blood banks increases the demand for cryogenic boxes for the long-term preservation of biological specimens.
5. Regenerative Medicine: The development of regenerative medicine therapies and personalized medicine approaches drives the need for cryogenic storage solutions.
6. Material Science: Cryogenic boxes are used in material science research and industrial applications, particularly for storing superconductors and specialty materials.
7. Government and Academic Research: Government-funded research projects, as well as academic research, contribute to the demand for cryogenic storage solutions.

Key Features of Cryogenic Boxes:

• Insulation: Cryogenic boxes are equipped with high-quality insulation materials that minimize heat transfer and maintain ultra-low temperatures inside the containers.
• Robust Construction: They are manufactured using durable materials, such as stainless steel and high-grade plastics, ensuring their resilience to extreme conditions.
• Inventory Management: Cryogenic boxes often feature a well-organized grid system or numbering scheme, facilitating efficient inventory management and sample tracking.
• Secure Sealing: A tight and secure sealing mechanism prevents the leakage of cryogenic liquids, safeguarding both the samples and the users.
• Stackable Design: The stackable design of these boxes optimizes storage space, allowing for better organization and easier access to stored samples.

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