Cryogenic Capsules Market to Surpass a Valuation of US$ 12.4 Billion by 2033 Due to its Rising Utilization As Long-Term Storage for Biological Materials | Future Market Insights, Inc.

Published Via 11Press : NEWARK, Del: The global cryogenic capsules market is anticipated to register opulent growth opportunities throughout the forecast period by exhibiting a CAGR of 5.7% from 2023 to 2033. The global market is likely to be valued at US$ 7.1 billion in 2023 and surpass a valuation of US$ 12.4 billion by 2033. According to the historic analysis conducted by Future Market Insights, the global cryogenic capsules market reflected a CAGR of 4.2% from 2018 to 2022.  

Cryogenic capsules are some of the best and most leak-proof choices for efficient storage of samples for a longer duration of time. In order to preserve a range of specimens and biological materials, capsules are best suitable. Furthermore, the quick threading of the vial makes tightening and removal easier. For efficient cryopreservation, the biological samples are stored at extremely low temperatures. The widespread expansion of pharmaceutical industries and ongoing developments in the sector is expected to create robust growth in the market.   

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Animal tissues, proteins, and cell samples are expected to be sensitive to extreme temperatures and are kept safely in freezers because they easily lose their chemical properties when kept at room temperature. This aspect is expected to drive market growth for cryogenic vials. In addition to that, the surging prevalence of chronic illnesses including diabetes, cancer, and communicable diseases is supporting the market’s growth. With the apparent growth in the world’s elderly population and rapid industrialization, the demand for cryo capsules will also increase in the forecast period. 

Compelling Market Trends

The strategy of storing samples at a very low temperature is massively adopted in food sciences, cryo surgery, cell and organ preservation, molecular biology, and biochemistry, as well as medical applications. This has resulted in accelerated demand for cryo capsules in sync with the surge in cryopreservation techniques. This will drive market growth during the forthcoming period. 

The propelling usage of hepatocytes, cardiomyocytes, and neuronal cells in neuroscience and cardiology research is offering the necessary stimulus for the product demand. Cryogenic vials are crucial for cryopreservation procedures because they are considered best for maintaining perfect storage conditions and allowing the sufficient retrieval of biological components. 

Demand for supplies is not just simple to track but also record with minimum manpower involvement and is anticipated to be fueled by the surging use of laboratory information management systems (LIMS) and automation technology. Various inventory management programs and services of LIMS allow ending users to easily track and preserve records and other crucial data.  

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Growth Drivers

Key vendors operating in the global market are focusing on enhancing their product offerings with cutting-edge tracking technologies including 1D and 2D barcoded cryogenic vials considering such aspects. This is anticipated to drive the market growth even further.

Cryopreservation of biomaterials consisting of antibodies, nucleic acids, proteins, cells, and tissue samples in biopharmaceutical research would increase during the forecast, thereby driving growth. The market for cryogenic vials has expanded as a result of technological and scientific advancements.

Restraints

The growth of cryogenic capsules is on the rise in the global market because of its propelling benefits of storing several specimens and various biological materials under the said temperature, there is also a restraint in the growth of this market which is the price. The cryogenic capsule is expected to be highly expensive particularly because the capsules cannot be used twice for different materials. In a way, this makes the capsule a one-time-use packaging. 

Competitive Landscape

Key players in the Cryogenic capsules market are VRV Asia Pacific Pvt Ltd, Lab Depot Inc., Globe Scientific Inc., Heathrow Scientific, BioCision, Sumitomo Bakelite Co., Ltd., Starlab, International GmbH, E&K Scientific Products, Inc., Caesa-Labs Inc., Catalent, Cryolor, Wheaton, Globe Scientific Inc., Thermo Fisher Scientific Inc, Argos Technologies, Sigma, Aldrich Corporation, Capp ApS, Corning Inc., etc.

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Key Segments of the Cryogenic Capsules Market Covered in the Report

Based on the Material Used:

• Polypropylene
• Polyethene

Based on the Capacity:

• 0.5ml to 1ml
• 1ml to 2ml
• 2ml to 5ml

Based on the Cap Closure Type:

• Inner cap (Internal thread)
• Outer cap (External thread)

Based on Region:

• Europe
• North America
• Latin America
• South Asia
• East Asia
• Oceania
• Middle East and Africa

Based on End-use:

• Medical Research Institution/Laboratory
• Pharmaceutical
• Biotechnology
• Healthcare Institution
• Drug manufacturers

Valuable Insights into the Cryogenic Capsules Market

The North American region is anticipated to dominate the global cryogenic capsules market throughout the assessment period as it is likely to account for 42.8% of the market. Large portions of revenue growth in this region are driven by developed economies like the United States.  

The Asia Pacific region is predicted to reflect the fastest growth by accounting for over 5.6% throughout the evaluation period. The growth of the region is attributed to a rapid expansion of the pharmaceutical and biotechnology industries, as well as the globalization of international and local organizations.  

Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

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