Cryogenic Vials Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis and Forecast 2020-2027

Published Date : Nov 2020 | No. of Pages : 200 Pages | Category : Others

the global cryogenic vials market is expected to grow at a CAGR of 4% during the forecast period, the growing demand for sustainable yet appropriate and sturdy packaging solution is projected to drive the cryogenic vials market growth.

Globally, the revenue generated by the cryogenic vials market has been estimated to be US$ 148 Mn in 2019.

An Overview

The global cryogenic vials market is a million dollar market and is projected to have a steady growth through 2027. This steady growth can be attributed to the application of cryogenic vials for healthcare industry. The global demand for cryogenic vials is a large-scale phenomenon because it is considered the most suitable tool for conveying or processing extremely low temperature material. Customers as well as the inclinations of large-scale production firms have tied packaging manufacturers to increase the absorption of cryogenic vials and provide more safety benefits. Furthermore, cryogenic vials are considered as the best and most leak-resistant and moreover, are available for the long-term storage of samples expected to boost the sales of cryogenic vials across the globe. Besides this, the global cryogenic vials market is driven by surge in demand for disease-oriented biobanks and growth in biotechnological industry.

Key Findings

  • Based on capacity, 1ml-2ml segment dominates the cryogenic vials market, with a market value share of little over 55% by the end of forecast period. However, the 2ml-5ml segment is anticipated to witness high growth rate with a CAGR value of 3.5%, by value.
  • The self-standing cryogenic vials account for more than 50% of the global cryogenic vials market. Self-standing cryogenic vials are preferred because they eliminate the need of an extra storage space for putting them into cryogenic racks which is mandatorily required for round bottom cryogenic vials.
  • The prominent applications for the cryogenic vials are for research organizations, drug manufacturers, healthcare institutions and others. Research organization segment is the most attractive segment witness high CAGR of 4.2%, by value as global research and development activities are increasing rapidly.
  • North America and Europe cumulatively are expected to account for more than 65% of the global cryogenic vials market by 2027, as rising number of diagnostic centres, healthcare institutions and research organisations in the regions. These regions are expected to represent an incremental opportunity of nearly US$ 47 Mn by 2027.

Increasing Use of High-End Materials As Demanded By Institutes to Boost the Sales of Cryogenic Vials           

  • Manufacturers are selling cryogenic vial models as well as storage racks and bins to better suit consumer requirements. Color-coded polypropylene cap, silicone washer best suited for the cryogenic processing and conservation of animal cells and for the cryogenic treatment of animal cell culture.
  • Ultra-low temperature storage, super sealing performance, easy sample collection and viable for virus preservation and transport are some of the features incrementally improved the demand and sales for cryogenic vials in the past years.

Demand for Cryogenic vials Intensified by the Rising Demand for Storage of Temperature Sensitive Samples

  • The major factor that drives the cryogenic vials market is cryopreservation feature of cryogenic vials which is majorly required for temperature sensitive samples of proteins, animal tissues, cells as they lose their chemical properties at room temperature, therefore, they need to be preserved far below sub-zero temperature.
  • The cryogenic vials are safe for storing samples up to -196 degree centigrade. Countries such as U.S, Germany, and Japan account for a major chunk of the revenue share in the global cryogenic vials market due to high spending in research and development sector as these countries are majorly involved in new drug discovery research.

North America expected to be at the Forefront in the Cryogenic Vials Market Growth

As per VRR analysis, North America cryogenic vials market is projected to clock a CAGR of 4.2% through 2027.  North America cryogenic vials market is projected to grow at significant rates owing to the factors such as well-established pharmaceutical and biotech sector and increase in the R&D activities related to the biotechnology that requires the cryogenic storage products. Furthermore, growing demand for cell banks expected to boost the North America cryogenic vials market. In addition, cryogenic vials are expected to increase their appeal in the region over the next decade, as they are smaller than other packaging types, require less energy to ship, and do less environmental damage. The region expected to have notable market growth rate owing to the presence of the major market players involved in drug manufacturing, research and development activities. These factors are expected to create a sustained demand for cryogenic vials in the region.

Developed Consumer base of Europe to Represent a Continued Demand for Cryogenic vials

Geographically, the Europe region is estimated to account for ~30 % of the cryogenic vials market by the end of 2020.  The demand for cryogenic vials in Europe is primarily driven by the increasing demand for sample purity and traceability. Light-weight, easy to open and environment-friendliness are the key attributes possessed by cryogenic vials, which have been found to influence the purchase decisions of consumers in European markets. Front position countries like Germany, Italy, France, Spain, and UK are cumulatively expected to represent nearly 70% of the European cryogenic vials market share over the forecast period. Easy to reclaim, simple volume reference, automatic decapping, hassle-free handling are some of the other features expected to boost the demand for cryogenic vials in the region.

Competition Landscape

In the global market report for cryogenic vials, the competition landscape is discussed in detail. Key players profiled in the cryogenic vials market are Thermo Fisher Scientific Inc., Corning Incorporated, DWK Life Sciences GmbH, Sigma-Aldrich Corporation, VWR International LLC, BioCision, LLC, Sumitomo Bakelite Co., Ltd., Starlab International GmbH,  Capp ApS, Incell Technologies, Ziath Ltd, Argos Technologies, Inc., Azer Scientific, Inc., E&K Scientific Products, Inc., Evergreen Scientific, CELLTREAT Scientific Products, BIOLOGIX GROUP LTD, Abdos Labtech Private Limited, Simport Plastics Limited, and EZ Bio Research LLC.

According to VRR analysis, Thermo Fisher Scientific Inc., Corning Incorporated, DWK Life Sciences GmbH, Sigma-Aldrich Corporation, VWR International LLC and BioCision, LLC are the leading players operating in the global cryogenic vials market. However, several existing and new comer players in Asia Pacific are evolving as prominent regional players in the cryogenic vials market.

Market Segmentation

By Capacity Type

  • 0.5ml-1ml
  • 1ml-2ml
  • 2ml-5ml

By Product Type

  • Self-standing
  • Round bottom

By Material Type

  • Polypropylene
  • Polyethylene 

By End Use

  • Research organization
  • Drug manufacturers
  • Healthcare institutions
  • Others 

By Closure Type

  • External thread
  • Internal thread

Global Cryogenic Vials Market by Region

  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Europe
    • Germany
    • France
    • Italy
    • Spain
    • U.K.
    • BENELUX
    • Nordic Countries
    • Russia
    • Poland
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • ASEAN
    • Australia & New Zealand
    • Japan           
    • Rest of APAC
  • Middle East & Africa
    • GCC Countries
    • Northern Africa
    • South Africa
    • Rest of Middle East & Africa

Report Scope

The Cryogenic vials market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Cryogenic vials market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Cryogenic vials market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Cryogenic vials market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Cryogenic vials market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Cryogenic vials capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Cryogenic vials by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Cryogenic vials market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Cryogenic vials market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Cryogenic vials market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Cryogenic vials industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Cryogenic vials market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Cryogenic vials market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Cryogenic vials market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Cryogenic vials market. These factors have benefited the growth of the global market for Cryogenic vials. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Cryogenic vials. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Cryogenic vials are as follows:

  • History Year: 2016-2019
  • Base Year: 2020
  • Forecast Year 2020 to 2027

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

Featured Research Reports

  • Featured Research Reports

    Motion Control Components Market Size, Share, Growth, Trends, Revenue, Company Analysis, Regional Insights and Forecast 2021-2030

    Read more...
  • Featured Research Reports

    Embossed Film Market Size, Share, Growth, Trends, Revenue, Company Analysis, Regional Insights and Forecast 2021-2030

    Read more...
  • Featured Research Reports

    Construction Tape Market Size, Share, Growth, Trends, Revenue, Company Analysis, Regional Insights and Forecast 2021-2030

    Read more...
  • Featured Research Reports

    Vacuum Skin Packaging Market Size, Share, Growth, Trends, Revenue, Company Analysis, Regional Insights and Forecast 2021-2030

    Read more...
  • Featured Research Reports

    Plastic Corrugated Packaging Market Size, Share, Growth, Trends, Revenue, Company Analysis, Regional Insights and Forecast 2021-2030

    Read more...