Cryogenic Vials Market size to record USD 73.46 mn growth from 2024-2028, Growing adoption of barcoded cryogenic vials is one of the key market trends, Technavio

NEW YORK, March 28, 2024 /PRNewswire/ -- The global cryogenic vials market size is estimated to grow by USD 73.46 mn from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of almost 5.66% during the forecast period.  The US market is experiencing an increase in generic epinephrine autoinjector launches due to government pressure. Companies like Bausch Health and ALK Abello, with European market shares, may enter the US market. Teva Pharmaceutical Industries launched AJOVY in YpsoMate 2. The cryogenic vials market involves manufacturers producing vials for temperature-sensitive samples, including drugs and vaccines, for cryopreservation in industrialization and research organizations. Key players include Cookregentec, Stemulate, Cell Seal, and Genepoint Biological Technology.

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Innovation Sparks Market Growth:

The Cryogenic Vials Market is experiencing significant growth due to increased demand for cryopreservation methods in drug research and biotechnology. With funds from pharmaceutical enterprises and research organizations pouring in, start-up companies and manufacturers are innovating new cryogenic storage solutions. Companies like Cookregentec, Stemulate, Cell Seal, Genepoint Biological Technology, VoloBio, Advance Bioscience, MVE Biological Solutions, and Labware are leading the way in producing high-quality cryogenic vials. These vials are essential for preserving temperature-sensitive samples, including biological samples and vaccines, at ultra-low temperatures. The market size is expected to expand as industrialization drives the need for cryopreservation in various industries, including healthcare and pharmaceuticals. Cryogenic freezers, such as aluminum dewars and cryogenic fuel-powered models, are crucial for maintaining the low liquid nitrogen temperatures required for cryopreservation. Cryogenic vials come in various closure types, ensuring super sealing performance and preventing cross contamination. End users, including drug manufacturers, health institutes, and research organizations, rely on the easy sample collection and portability features of cryogenic vials for their drug research and virus preservation needs. The market's revenue growth is driven by the increasing demand for cryopreservation in industrialization, the geriatric population's growing need for temperature-sensitive medication, and the advancements in animal cell culture technology.

Addressing Challenges:

The cryogenic vials market is a significant segment in the healthcare sector, serving various health institutes and drug manufacturers. Manufacturers utilize animal cell culture in producing self-standing cryogenic vials for the preservation of temperature-sensitive biological samples, including cells, animal tissues, proteins, and viruses. Cryopreservation methods employing liquid nitrogen are crucial for drug research and development, especially in the pharmaceutical enterprises that cater to the geriatric population and chronic diseases such as diabetes, cancer, and communicable diseases. Governments and research organizations invest heavily in this industry due to its importance in industrialization and the application industry. Self-standing cryogenic vials offer extra storage space, easy sample collection, portability, and super sealing performance. However, high costs and the need for specialized cryogenic racks and cryopreservation techniques pose challenges. Manufacturers must ensure seal integrity and prevent cross-contamination, employing color-coded polypropylene caps and silicone washers. The use of liquid nitrogen and cryogenic treatment necessitates stringent regulations and adherence to safety protocols. The market's revenue growth is driven by the increasing demand for cryopreservation in various industries and the ongoing research and development in this field.

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Market Overview

The Cryogenic Vials Market is a significant sector in the healthcare industry, particularly in the field of biotechnology and research. These vials are essential for storing and preserving biological samples at extremely low temperatures. The market for Cryogenic Vials is driven by the increasing demand for advanced medical treatments and research activities. The market is segmented based on material type, capacity, and end-users. Stainless Steel and Borosilicate Glass are the most commonly used materials in the production of Cryogenic Vials. The capacity range of these vials varies from a few milliliters to several liters. The major end-users of Cryogenic Vials include hospitals, research institutions, and biotechnology companies. The market for Cryogenic Vials is expected to grow at a significant rate due to the increasing demand for long-term storage solutions and the rising number of research activities in various fields. Additionally, the market is witnessing the entry of new players, leading to increased competition and innovation in the sector. Overall, the Cryogenic Vials Market is a dynamic and growing industry that plays a crucial role in the advancement of medical science and research.

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Key Companies:

Cryogenic Vials Market  is fragmented ; the companies are competing with competitors and are trying to get greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major companies have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products. Cryogenic Vials Market report includes information on the product launches, sustainability, and prospects of leading vendors including AHN Biotechnologie GmbH, Avantor Inc, Azenta Inc., Azer Scientific Inc., Biologix Group Ltd., Corning Inc., Merck KGaA, Pioneer Impex, SARSTEDT AG and Co. KG, Sumitomo Bakelite Co. Ltd., Thermo Fisher Scientific Inc., Abdos Labtech Private Limited, DWK Life Sciences GmbH, Wuxi NEST Biotechnology Co. Ltd., Antylia Scientific, Eppendorf SE, EZ BioResearch LLC, LVL Technologies GmbH and Co. KG, Narang Medical Ltd., Simport Scientific Inc.

Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
   

• End-user
• Research Organization
• Drug Manufacturers
• Healthcare Institutions
• Others
• Type
• Internally Threaded Cryogenic Vials
• Externally Threaded Cryogenic Vials
• Geography
• North America
• Europe
• Asia
• Rest Of World (ROW)

 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio