Cryogenic Freezers Market Size to grow by USD 181 million between 2024-2028

Technavio, a leading provider of market research reports, has released its latest study on Cryogenic Freezers Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges.

Key Highlights:

• Market Research Overview: The global life sciences tools and services market, a key segment of the larger healthcare industry, encompasses businesses involved in the research and development (R&D) of various product categories, including capital equipment, instruments, accessories, and consumables. These products are utilized in the research and production of pharmaceuticals, biotechnology products, and laboratory diagnosis of diseases. Additionally, this market includes life sciences-related services such as contract research, manufacturing, and sales. According to Technavio, the global healthcare market size is determined by the combined revenue generated by manufacturers of equipment, supplies, pharmaceuticals, biotechnology, and life science tools and services. Factors driving growth in the life science tools and services market include the increasing global population aging, with a predicted rise in those over 60 years old, and the subsequent demand for advanced healthcare solutions. - The Cryogenic Freezers Market is experiencing significant growth, fueled by the Growing demand from healthcare industry. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

• Major Findings:
  • Growing demand from healthcare industry
  • Favorable government support and increase in funding
  • Threat from faulty or loosely insulated cryogenic freezers
  • Growing demand for re-engineered cryogenic freezers
• Growth Projections

The market size is estimated to grow by USD 181 million, at a CAGR of 8.09% during the forecast period. The cryogenic freezers market is experiencing significant growth, driven primarily by the increasing demands from the biomedical and food industries. Vendors in this sector are implementing strategic initiatives to expand their market presence. For instance, Azenta Life Sciences expanded its product offerings by acquiring Abeyance Cryo in October 2021, integrating Abeyance Cryo Solutions' cryogenic freezers into its Automated Storage Solutions portfolio. Additionally, Linde and Bluefors formed a collaboration in March 2021, aiming to develop cooling solutions for large-scale quantum computers. This partnership not only advances the cryogenic industry but also strengthens the market for cryogenic freezers by ensuring advanced cooling capabilities, efficiency, and durability for the next generation of quantum computing technologies.

For insights on company offerings- Request a sample report!

• Regional Insights

The cryogenic freezers market represents a significant business opportunity for manufacturers, driven by the growing demand for long-term storage solutions in various industries, including biotechnology, pharmaceuticals, and research institutions. These freezers maintain extremely low temperatures, preserving samples and materials for extended periods. Market growth is fueled by advancements in technology, increasing research and development expenditures, and regulatory compliance requirements.

About Technavio                                                                        

Technavio is a global market research company offering comprehensive reports and insights on various industries. Our research helps businesses make informed decisions by providing actionable data and trends. Technavio is based on four simple principles: easy-to-access reports, robust industry coverage, a focus on new and emerging technologies, and competitive pricing. We believe in helping companies and executives become better equipped to make faster, sounder, and more effective decisions. Technavio is one of the most influential market research and advisory firms in the world. We work with business and technology leaders to provide cutting-edge market research and insights to companies. 

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/