Cryogenic Vials Market Growth Analysis | 2021-2026

Market Insights

The cryogenic vials market was estimated at USD 151.2 million in 2020 and is likely to grow at a CAGR of 4.1% during 2021-2026 to reach USD 191.2 million in 2026.

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What are cryogenic vials?

Cryogenic vials are primarily used to store samples for lengthy periods and are known to be the best and most leak-proof option. It is suitable for storing a wide variety of specimens and biological materials at extremely low temperatures. The vial’s innovative thread design helps in both removal & tightening. They are generally packaged in tamper-proof, exclusive safety-lock bags. Temperature-sensitive samples of animal tissues, proteins, and cells lose their chemical characteristics at ambient temperature, thus they are required to be stored at temperatures below sub-zero.

Covid-19 Impact Analysis

The outbreak of COVID-19 positively influenced the cryogenic vials industry as the pandemic resulted in a surge in the number of patients. This resulted in surge in the testing of blood and nose swab which requires proper vials for storage. Moreover, drug R&D boomed amid the pandemic for new drug discovery and vaccination production, thus augmenting the market growth.

Market Dynamics

The cryogenic vials market is propelled by the rapid growth & expansion of pharmaceutical enterprises across the globe. Also, the growing prevalence of chronic disorders such as diabetes, cancer, and communicable diseases are likely to boost the market growth. The growing geriatric population coupled with rapid industrialization further results in a large pool of patients. Moreover, the usage of cryogenic vials in drug research & development is expanding at a rapid pace. In addition, the government’s support and increasing funds further bolster the industry growth during the review period.

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Segments' Analysis

By End Use Type

Based on end-use, the cryogenic vials market has been divided into a research institute, healthcare organizations, and pharma / biotechnological manufacturers. The healthcare organizations segment held a significant market share in 2020. A rapid surge in global research and development activities, increasing funding by government authorities, rising patient pool, and well-equipped hospital facilities, further augment the market growth.

Regional Insights

By region, the North American market accounted for the largest share in 2020 and is expected to grow at a significant CAGR during the review period. The cryogenic vials market growth can be ascribed to the surging demand for cryopreservation of biomaterials such as nucleic acids, antibodies, proteins, cells, and tissue samples in biopharmaceutical research, coupled with an increase in cryopreserved sample volumes in the region.

The Asia-Pacific market is expected to grow at the highest CAGR during the review on account of the growth of the major end-use industries. This growth is mainly attributed to the rapid growth of the pharmaceutical & biotechnological sectors, global expansion of local & international companies, increased need for cells and biobanks, and strong proliferation of healthcare infrastructure.

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Critical Questions Answered in the Report

• What are the key trends in the global market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The cryogenic vials market is segmented into the following categories.

By Material Type

• Polypropylene
• Polyethylene

By End-Use Type

• Research Institute
• Healthcare Organizations
• Pharma/Biotechnological Manufacturer

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia and Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and Rest of Asia-Pacific
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

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Key Players

Key players operating in the market are-

• Thermo Fisher Scientific Inc. (US)
• Corning Incorporated (US)
• DWK Life Sciences GmbH (Germany)
• Sigma-Aldrich Corporation (US)
• VWR International LLC (US)
• BioCision LLC (US)
• Sumitomo Bakelite Co. Ltd (Japan)
• Starlab International GmbH (Germany)
• Capp ApS (Germany)
• Incell Technologies (India)

Target Audience

The target audience of Cryogenic Vials Market includes-

• Cryogenic Vials Vendors
• Cryogenic Vials Manufacturers
• Cryogenic Vials Distributors
• Organizations
• Government Bodies.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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