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Cryostats Market Size Worth US$ 3,061.82 Million by 2027| CAGR: 6.65%

In the sphere of medical applications, Magnetic resonance imaging (MRI), frozen tissue sections, X-ray, spectroscopy and other pathological studies are few of the applications for cryostats in the healthcare sector. According to the study undertaken by Astute Analytica, the global cryostats market is anticipated to register a CAGR of 6.65% during the forecast period 2022-2027. The global cryostats market was valued at US$ 2,081.24 Million in 2021 and is forecasted to reach US$ 3,061.82 Million by 2027. In terms of volume, the market is expected to register a CAGR of 5.27% during the forecast period 2022-2027. 

A cryostat is an artificial chamber that can keep temperatures extremely low and therefore, preserves the object stored in it. The low temperature maintained within the chamber freezes the content and keeps it secure and intact. Moreover, interference of environmental substances and microorganisms can be prevented through the use of cryostats. Furthermore, they also provide a quick diagnosis for a number of diseases and medical conditions including neuromuscular diseases. The preservation of cell density and tissue architecture is one of the advantages of cryostat frozen section which are important in the diagnosis of neurosurgical materials. In addition to this, the demand for cryostat technology in the energy and power industry is expected to develop at an exponential rate over the forecast period due to an increase in the number of construction projects, particularly renewable energy projects in the marketplace. Also, dewar is an essential insulated container system of a cryostat from which liquid cryogen is drawn. 

Factor such as rising demand from healthcare industry drives the growth in the global cryostats market over the forecast period. 

A cryostat is used in medical laboratories to keep frozen tissue samples frozen while a microtome, a sharp cutting device positioned within cryostats, cuts the tissue into thin enough fragments in order to be seen under a microscope. Moreover, the growing trends and increasing number of projects in the quantum computing are analysed to create a significant growth opportunity for the cryostats market. However, high power consumption is the major restraining factor in the cryostats market. The global cryostats market is restrained by temperature inconstancy and operational time constraints.

COVID-19 has positively impacted the cryostats market. Anatomic pathology is a specialty of pathology that studies organ tissues and fluids to determine accurate illness diagnosis. The effects of the covid-19 have been analyzed with the employment of the cryostats. The research included increasing the adoption of advanced technology that yields better results. This included the adoption of enhanced cryostat technology for superior storage and observation of the tissues and virus.

Market Insights 

Global Cryostats Market Insights by Type

Based on type, closed-flow cryostats, continuous-flow cryostats, bath cryostats and multistage cryostats are the four types of cryostats available in the global cryostat market. The continuous-flow cryostats segment is estimated to project the largest market share and highest CAGR in the global cryostats market over the forecast period. The continuous-flow cryostats are cooled by liquid cryogens (typically liquid helium or nitrogen) from a storage dewar. As the cryogen boils within the cryostat, it is continuously replenished by a steady flow from the storage dewar. Moreover, continuous-flow cryostats are commonly employed in high-resolution spectrographs and multiple detector systems, among other applications. Because of their straightforward operation over a wide temperature range, they are also often utilized in low-temperature physics experiments.

Global Cryostats Market Insights by Application

On the basis of application, the cryostats market is segmented into medical field, research laboratories and industrial. Among all, the medical field dominated the cryostats market in 2021 and is also projected to grow at the highest CAGR over the forecast period as the cryostat market is majorly driven by the healthcare industry. Moreover, in 2021, the MRI applications accounted for the greatest share of the cryostat market, and this trend is projected to continue in the future years also. Furthermore, in cryostats, helium is widely employed as a cryogen. Helium is critical for cooling cryogenic detectors and other instruments that require a lengthy hold time, optical access and easy access to the cold plate.

Global Cryostats Market Insights by Regional Outlook

Based on region, North America is anticipated to hold the largest share in the global cryostats market over the forecast period owing to the presence of leading companies and strong demand for cryostats in the medical field. Moreover, the growth of the cryostat market in North America is driven by the increasing adoption of cryogenic systems for cooling in multiple industrial sectors such as energy and aerospace. In addition, the significant developments in advanced healthcare services in North America region have led to the widespread use of cryostats. 

Strategic Outlook of the Key Players in the Global Cryostats Market 

  • Bright Instruments is putting its users at the forefront of its operations. They strive to be the supplier of choice for their customers by accepting no less than excellent quality by creating the most advanced and reliable products supported by excellent customer service. Moreover, Bright Instruments has built up a brand-leading reputation in the medical sectioning industry for its high-quality products, reliable services and adaptability. 
  • Montana Instruments Corporation has established a Quantum Economic Development Consortium (QEDC) member to realize and grow a strong commercial quantum-based industry and associated supply chain in the United States. Moreover, the company is innovating so that scientists can move faster towards more discoveries.
  • Thermo Fisher Scientific Inc (Thermo Fisher) is a provider of medical devices, analytical instruments, reagents, consumables, software, and services that solve complex analytical challenges in research, diagnostics, and clinical laboratories. Moreover, they focus primarily on three growth strategies to gain market share. Innovation, scalability in emerging markets and providing value proposition to customers. It continues to bring improved and innovative products to the market.
  • With a focus on research & development, Advanced Research Systems cryogenic equipment evolves with the ever-changing world of scientific research to provide with the tools need for experiments. They are dedicated to designing and manufacturing cryogenic equipment that assists in achieving research goals. Furthermore, they are committed to innovating with new products & superior manufacturing. They recognize that the quality of both their product and customer relationships determines their future success in this competitive world.

Competitive Insight

Global Cryostats Market is highly competitive in order to increase their presence in the marketplace. Some of the key players operating in the global cryostats market include Janis Research Company, LLC, Jinhua Yidi Medical Equipment Co., Ltd., SLEE medical GmbH, Amos Scientific Pty Ltd, Advanced Research Systems, Thermofisher Scientific Inc., Montana Instruments Corporation, Cryomech Inc., Bright Instruments and Leica Biosystem Nussloch GmbH among others.

Segmentation Overview 

Global Cryostats Market is segmented based on type, application and region. The industry trends in the global cryostats market are sub-divided into different categories in order to get a holistic view of the global marketplace. 

Following are the different segments of the Global Cryostats Market:

By Type segment of the Global Cryostats Market is sub-segmented into:

  • Bath Cryostats
  • Closed-Cycle Cryostats
  • Multistage Cryostats
  • Continuous-Flow Cryostats

By Application segment of the Global Cryostats Market is sub-segmented into:

  • Medical Field
  • Research Laboratories
  • Industrial

By Region segment of the Global Cryostats Market is sub-segmented into:

  • North America
    • The U.S.
    • Canada
  • Europe
    • The UK
    • Germany
    • France
    • Italy
    • Russia 
    • Rest of Europe 
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • Taiwan
    • Malaysia
    • Indonesia
    • Thailand
    • Philippines
    • Vietnam
    • Rest of Asia Pacific
  • Latin America
    • Argentina
    • Brazil
    • Mexico 
    • Rest of Latin America
  • Middle East & Africa
    • Turkey
    • Saudi Arabia
    • UAE
    • Rest of MEA

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