Cryostat Market worth $2.8 billion by 2027 - Exclusive Report by MarketsandMarkets™

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Sep 26, 2022, 09:30 ET

CHICAGO, Sept. 26, 2022 /PRNewswire/ -- Cryostat market is projected to reach USD 2.8 billion by 2027 from USD 2.2 billion in 2022; it is expected to grow at a CAGR of 4.9% from 2022 to 2027, according to a new report by MarketsandMarkets™. Increasing applications of cryogenics in energy & power and aerospace applications are expected to boost the market growth.

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Cryostats are apparatus to maintain extremely low temperatures. In medical laboratories and pathologies, cryostats are used to preserve frozen tissue samples; microtomes, a sharp cutting tool mounted inside the cryostats, slice the tissues into pieces thin enough to be observed under a microscope. Cryostats have applications in various applications, such as healthcare, energy & power, aerospace, metallurgy, biotechnology, and forensic science. The market for aerospace applications is expected to grow at the highest CAGR during the forecast period. However, factors such as leakage of cryogen gases, which may have some environmental hazards, can affect the market growth adversely. Manufacturers of cryostats are focusing on resolving such issues. The cryostat is a chamber that can maintain low temperatures. Medical laboratories and research centers use cryostats to preserve frozen tissue samples; microtome, a sharp cutting tool mounted inside the cryostats, slices the tissues into pieces thin enough to be observed under a microscope. Cryostats have various applications in science, engineering, and medicine. The market segmentation represents various aspects of the market on the basis of type, system component, cryogen, industry, and geography. The market dynamics elaborate on the driving factors, restraints, opportunities, and challenges with respect to the cryostat ecosystem. These parameters are further described with appropriate market trends or supporting statistical information.

In type segment, the continuous-flow cryostat segment is expected to hold the highest market share of the cryostat tags market during the forecast period

Continuous-flow cryostats are cooled by liquid cryogens, such as liquid helium or nitrogen, from the storage dewars. As the cryogen boils within the cryostat, it is continuously refilled by a steady flow from the storage dewar. Temperature control of the sample within the cryostat is typically performed by controlling the cryogen flow rate into the cryostat. In most of these systems, the cooling power available from a flow of cryogens, such as liquid helium or liquid nitrogen, is balanced by the power supplied electrically to a heater near the sample (usually by a temperature controller). Helium accounted for the largest share of ~51% of the overall continuous-flow cryostat market in 2021. Helium as a cryogen is commonly used in cryostats for maintaining low temperatures and is produced commercially to meet high demand.

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The North American cryostat market is projected to have the largest market share in 2021

The North American cryostat market holds ample opportunities due to this regions advanced healthcare and aerospace applications. Cryostats have wide applications in the healthcare industry, such as MRI, frozen sectioning, exploratory surgeries, X-ray, and spectroscopy. In the fields of space and satellite field, cryostats are used for cooling various infrared sensors. In the National Aeronautics and Space Administration (NASA)s Wide-field Infrared Survey Explorer (WISE) cryostat, a 2-stage solid hydrogen dewar is used to cool the WISE optics and detectors. North America held the maximum share of 34% of the global cryostat market in 2021. The market in North America is majorly driven by the healthcare and aerospace applications in this region. Increasing demand for cryostats for MRI machines, biopsy diagnosis, frozen section diagnosis, pathology, and clinical labs is fueling the growth of the market for cryostats in this region. The growing demand for cryostats in the aerospace industry is another factor driving the growth of the cryostat market in this region. In the National Aeronautics and Space Administration (NASA)s Wide-field Infrared Survey Explorer (WISE) cryostat, a 2-stage solid hydrogen dewar is used to cool the WISE optics and detectors.

Key Players of cryostat Market:

Leica Biosystems (Germany), Cryomech Inc. (US), Amos Scientific (Australia), MEDITE (Germany), Bright Instruments (UK), Dakewe Medical (China), Jinhua YIDI Medical Appliance Co., Ltd. (China), SLEE Medical GmbH (Germany), Advanced Research Systems (US), Lake Shore Cryotronics (US), Epredia (US), SM Scientific Instruments (India), Medimeas (India), Hacker Instruments & Industries (US), Boeckeler Instruments Inc. (US), Histo-line Laboratories (Italy), Lupetec (Brazil), SciLab Co. Ltd. (France), Cryofab, Inc. (US), Precision Cryogenics (US), attocube systems AG (Germany), AMETEK Scientific Instruments (US), Mirion Technologies (Georgia), BIOBASE (Germany), and Sipcon Instrument Industries (India).

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