increasing adoption of cryopreservation procedures is driving the Cryogenic Vials Market
Technavio analyzes that the Cryogenic Vials Market is expected to grow at a CAGR of 5.66% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 73.46 million.There are various factors that contribute to the growth of the market. The cryogenic vials market is experiencing significant growth due to the increasing adoption of cryopreservation techniques in various industries, including healthcare and biotechnology. Cryopreservation is a process that involves freezing biological materials, such as cells, tissues, and organs, to preserve their integrity and functionality for future use. The advancements in freezing technologies and the rising demand for long-term storage solutions are driving the growth of the cryogenic vials market. These vials are essential for safely storing and transporting the frozen samples, ensuring their viability and maintaining the integrity of the stored materials. The market is expected to continue its upward trend as research and development efforts in the field of cryopreservation continue to yield new applications and advancements.
In the dynamic and innovative biotechnological sector, the cryogenic vials market experienced substantial expansion in 2023, with research organizations leading the growth. This trend is anticipated to persist throughout the forecast period, driven by the escalating global research and development activities. Cryogenic vials are indispensable for the cryopreservation of temperature-sensitive biological samples, including cells, animal tissues, and proteins, which deteriorate at normal temperatures. These vials offer significant advantages, such as superior sealing performance, mobility, ease of sample collection, and viral protection, making them indispensable in research organizations, biopharmaceutical companies, diagnostic centers, and start-ups engaged in biotechnology and cell-culture.
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Cryogenic Vials Market Segmentation
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The cryogenic vials market caters to pharmaceutical companies, particularly those dealing with temperature-sensitive samples, such as blood, viruses, and biological materials from the geriatric population and those suffering from chronic diseases. Self-standing cryogenic vials offer superior sealing performance, ease of sample collection, and portability. Features like cryopreservation, super sealing, and safety-lock bags ensure the integrity of samples at ambient temperatures and sub-zero temperatures. Thread designs facilitate tightening, while tamper-proof bags add an extra layer of safety. These vials are essential for storing animal tissues and other biological specimens, maintaining their chemical characteristics at different temperatures for various applications.
The cryogenic vials market is a significant segment of the global life sciences tools and services industry, valued at USD132.53 billion in 2023. This market primarily focuses on self-standing cryogenic vials, which offer advanced features such as cryopreservation, virus preservation, and super sealing performance. These vials cater to the growing demand for storing and transporting biological samples, particularly from the geriatric population suffering from chronic diseases. The easy sample collection and portability features make cryogenic vials indispensable in laboratories, contributing to the market's moderate growth during the forecast period. Technavio classifies this market within the global life sciences tools and services industry, which encompasses R&D, manufacturing, and sales of various product categories, including consumables like cryogenic vials, and services such as contract research and contract manufacturing.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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