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    Cryogenic Vials Market Report

    Cryogenic Vials Market Report
    Report code - SR1702 Delivery - 2 Weeks
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    Cryogenic Vials Market Size, Share, Trend, Forecast, & Industry Analysis: 2021-2026
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    Market Insights

    What is 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.

    The Cryogenic Vials Market is estimated to grow from USD 151.2 million in 2020 to USD 191.2 million by 2026 at a healthy CAGR of 4.1% during the forecast period.

    Cryogenic Vials Market- Research Scope

    Base Year of Study

    2020

    Trend Period

    2015-2019

    Forecast Period

    2021-2026

    Market Size in 2020

    US$ 151.2 million

    Market Size in 2026

    US$ 191.2 million

    Market Growth (2021-2026)

    4.1% CAGR

     

    Figure: Cryogenic Vials Market Size, 2020-2026 (USD Million)

    Cryogenic-Vials-Market-Forecast

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    Market Drivers

    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.

    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, the drug R&D boomed amid the pandemic for new drug discovery and vaccination production, thus augmenting the market growth.

    Segments' Analysis

    End Use Trends

    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 augments the market growth.

    Regional Trends

    By region, the North American Cryogenic Vials 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 Cryogenic Vials 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.

    Critical Questions Answered in the Report

    This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global cryogenic vials market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026. Following are the critical questions answered in the report.

    • What are the key trends in the cryogenic vials 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 cryogenic vials market?
    • What are the key strategies adopted by the major vendors to lead in the cryogenic vials market?
    • What is the market share of the top vendors?

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    Key Players

    Key players operating in the Cryogenic Vials 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.

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The cryogenic vials market is expected to witness an impressive growth of 4.1% CAGR in the coming years.

    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) are among the key players in the cryogenic vials market.

    The cryogenic vials market size is expected to reach USD 191.2 million in the foreseeable future.

    The healthcare organizations segment held a significant share in the cryogenic vials market in 2020.

    North America accounted for the largest share in the cryogenic vials market in 2020.

    Asia-pacific is expected to grow at the highest CAGR in the cryogenic vials market in the next five years.