The global Cryostat market size is expected to reach USD 3,467.9 million by 2030, according to a new study by Polaris Market Research. The report “Cryostat Market Share, Size, Trends, Industry Analysis Report, By Type; By System Component; By Cryogen (Helium, Nitrogen); By Application; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides an analysis of future market growth.
The growing demand for the product in healthcare, metallurgy, biotechnology, and forensic science is due to the ability to preserve samples with low thermal conductivity and reduced heat transfer. Furthermore, the increasing need for cryopreservation and tissue samplings is also expected to benefit the market. Moreover, the growing infectious diseases have created a demand for MRI that eventually has given rise to medical imaging to treat such illnesses, fueling the market growth.
Many key players are focusing on developing innovative products for particular applications and broadening their business scope, contributing to the market’s revenue growth. For instance, Bluefors provides low-temperature cryostats globally and customizes cryostats depending on client specifications. Recently, they have revolutionized cryogenic technology in quantum computing applications, contributing to market growth.
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In addition, rapid urbanization, industrialization, and changing lifestyles have increased chronic illness and the demand for healthcare facilities across developing nations. The growing government investments in developing and establishing a better infrastructure of the healthcare sector are expected to boost the market growth.
Moreover, the increasing demand for cryogenic technologies in the aerospace industry is an essential factor bolstering the market growth. The airplanes and aircraft equipment undergoes a lot of stress during landing and taking off; cryogenic hardening withstands all these forces and reduces malfunctions in the planes. Furthermore, cryogenic hardening helps strengthen metal parts in the navigation system, landing gear, and many more applications, which is projected to drive market growth.
The COVID-19 pandemic had a positive impact on the demand for the cryostat market. There was a massive demand for medical supplies and healthcare facilities during SARS-CoV-2. Additionally, the increasing preservation of samples and rising research & development in immunohistochemistry of various infected tissue has influenced the market during the pandemic.
Cryostat Market Report Highlights
- The growing demand for continuous-flow cryostat segment is due to its operation over low temperatures and continuous flow when incorporated with any cryogens. Additionally, it has a wide range of applications in high-resolution spectrographs and detector systems which is expected to drive market growth.
- The microtome blades accounted for the highest revenue share and are expected to continue their dominance owing to their high performance in pathological and laboratory tests. In addition, these blades cut specimens with desired thickness and have significant applications in histology, microscopy, and spectroscopy, propelling the market growth.
- The Healthcare industry anticipated the largest CAGR over the forecast period owing to the increasing infectious disease and rising cancer cases. In addition, the growing demand for frozen tissue sectioning and MRI supported the market growth.
- North America is the second largest region to dominate the market and is expected to grow over the forecast period owing to increasing demand from the healthcare and aerospace industry. In addition, technological advancement and growing awareness regarding cryostat technologies and equipment are also complementing the market growth.
- Major players operating in the industry include Advanced Research Systems, Adavnced Research Systems, AMETEK Scientific Instruments, Amos Scientific, Attocube Systems AG, BIOBASE, Boeckeler Instruments Inc., Bright Instruments, Cryofab Inc., Cryomech Inc., Dakewe Medical, Epredia, Hacker Instruments & Industries, Histo-Line Laboratories.
Polaris Market Research has segmented the cryostat market report based on type, system component, cryogen, application, and region:
Cryostat, Type Outlook (Revenue – USD Million, 2018 – 2030)
- Closed-Cycle Cryostats
- Continuous-Flow Cryostats
- Bath Cryostats
- Multistage Cryostats
Cryostat, System Component Outlook (Revenue – USD Million, 2018 – 2030)
- Transfer Tubes
- Gas Flow Pumps
- Temperature Controllers
- High Vacuum Pumps
- Microtome Blades
Cryostat, Cryogen Outlook (Revenue – USD Million, 2018 – 2030)
Cryostat, Application Outlook (Revenue – USD Million, 2018 – 2030)
- Energy & Power
- Forensic Science
- Marine Biology
Cryostat, Regional Outlook (Revenue – USD Million, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa