The cryogenic vial market is projected to register a CAGR of 4.3% during the forecast period. The global market size is estimated to be valued at USD 165.3 million in 2024 and is projected to surpass USD 251.8 million by 2034.
The demand for cryogenic vials is envisioned to enrich due to the enlargement of pharmaceutical enterprises, automation in the production, and the geriatric population. Further, increased investment from both public and private sectors and innovative techniques are anticipated to helm market growth in the projected period.
Global Cryogenic Vial Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2023 | USD 157.9 million |
| Estimated Size, 2024 | USD 165.3 million |
| Projected Size, 2034 | USD 251.8 million |
| Value-based CAGR (2024 to 2034) | 4.3% |
As proteins, animal tissues, and temperature-sensitive samples of cells lose their chemical characteristics at normal temperatures and must be stored at temperatures well below sub-zero, cryogenic vials with the cryopreservation function are essential. Further upsurge in demand is anticipated for cryogenic vials because of their exceptional sealing performance, mobility, ease of sample collection, and virus preservation capabilities.
As producers promote cryogenic vials as storage bins and racks to better meet customer demands, sales of such containers are predicted to rise. A color-coded polypropylene cap and silicone washer, which are perfect for the cryogenic processing and conservation of animal cells, can also be beneficial in the cryogenic treatment of animal cell culture.
There are several benefits of cryogenic vials in the medical sector. This is because chronic illnesses such as diabetes, cancer, and infectious diseases are becoming more and more common. Additionally, barcoding cryogenic vials makes it easier to identify them and help to include data for later use, both of which are likely to advance their use in healthcare facilities.
Following the global pandemic, people tend to prioritize medical checkups, leading to improved awareness of health issues. This has increased the usage of several sample checkups for medical analysis, leading to an increased need for testing vials. As a result, demand for vials of various sizes has increased, resulting in increased production of sterile vials for medical checkups.
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The subsequent table projects the global market to report CAGRs based on various semi-annual periods from 2024 to 2034. The industry is projected to report a CAGR of 4.6% in the first half (H1) of the decade from 2023 to 2033 and 4.2% in the second half (H2) of the same decade, indicating the downfall in the requirement with 0.4%.
| Particular | Value CAGR |
|---|---|
| H1 | 4.6% (2023 to 2033) |
| H2 | 4.2% (2023 to 2033) |
| H1 | 4.1% (2024 to 2034) |
| H2 | 4.4% (2024 to 2034) |
The vial market’s growth trajectory is estimated to shift somewhat during the succeeding decade. Predictions indicate that the CAGR will drop slightly from 4.2% to 4.1% in the first half (H1) of the period. Nevertheless, the second half (H2) is predicted to have a hike in demand at a CAGR of 4.4%. Such an industry trajectory indicates a decline of 40 BPS in H1, following an upsurge of 30 BPS in CAGR in H2.
Industry analysts credit several variables for the change, including the necessity of vials for medical checkups in H1, which might have affected demand. On the other hand, improvements in the research and development techniques in the H2 industry may spike up the growth trajectory.
Novel Research in Neurology and Cardiology Boost the Demand for Cryopreservation
Research in neurology and cardiology frequently uses hepatocytes, cardiomyocytes, and neural cells, which raises the need for cryopreservation. Because these topics allow for the recovery of biological components and maintain optimal storage conditions, cryogenic vials are crucial to cryopreservation techniques.
The process of cryopreservation is used to preserve biological material at very low temperatures in a variety of areas, including surgery, food sciences, molecular biology, biochemistry, and medicine. Researchers, medical professionals, and laboratory physicians may all benefit from this strategy since it lowers the costs involved in routinely replenishing inventory while maintaining consistency and reproducibility.
The need for cryogenic vials is rising in tandem with the growth of cryopreservation techniques, which is expected to propel the industry to substantial growth during the forecast period.
Adoption of Digital Storage Solution for Cryogenic Tubes
The increasing use of automation and LIMS systems is increasing the need for supplies that are simple to manage and record with little human intervention. International vendors anticipated to respond to this by upgrading their products with cutting-edge tracking technology, such as cryogenic vials with 1D and 2D barcoding.
Biobanks and cell banks are using such vials for cryopreservation of various biomaterials. The vials with printed barcodes are more durable and easier to identify and track biomaterials and samples. Automated data storage ensures a reliable chain of custody, lowering human error, maintaining reproducibility, and promoting collaboration among sample batches.
Data may be easily shared across end users thanks to barcode scanning and digital information storage. The growth and rising use of such items are anticipated to propel global expansion.
Limitation in Expenditure Create Hurdles in the Industry Growth
The cryogenic vials market is estimated to face constraints due to high costs, despite increasing demand in the healthcare, pharmaceuticals, and biotechnology industries. The elevated expenditures may deter potential customers and limit widespread adoption, particularly in smaller research facilities and institutions with limited budgets, which could hinder the market's expansion.
The cost of cryogenic vials is high due to the need for specialized storage equipment and handling procedures, making it less accessible for some organizations. Therefore, developing cost-effective solutions, efficient production processes, and innovative materials is vital for unlocking its full potential.
While the demand for cryogenic vessels remains strong, addressing the cost concerns is essential for sustained market growth and accessibility.
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Cryogenic vial market size was estimated at USD 136.7 million in 2019 and is poised to register a CAGR of 2.9% from 2019 to 2023. Researchers are anticipated to utilize these vials, which are leak-proof, and ideal for long-term storage of specimens and biological materials at extremely low temperatures. Their rapid thread design facilitates removal, tightening and is typically packaged in tamper-proof, unique safety-lock bags.
Manufacturers are envisioned to boost the research and development on the features of cryo-tubes throughout the forecast timeframe. End users are spending an increasing amount of funds on specialized and sterile vials. By 2023, the market had grown to USD 157.9 million.
The evolving industry trends are guiding long-term strategies for businesses, both established and emerging. The global pandemic has significantly impacted the operations of these businesses, and its long-term effects are envisioned to impact industry growth. The demand of vials for research is continuously improving to address fundamental COVID-19 concerns and potential solutions.
With a projected CAGR of 4.3%, the industry is predicted to prosper in comparison to the previous market trajectory. Manufacturers are creating innovative designs based on practitioners’ demands. Among the few improvements that are anticipated to increase the global market are the installation of extra safety layers and advances in material science.
Firms with diverse product portfolios such as Thermo Fisher Scientific Inc, Corning Incorporated, Sigma-Aldrich Corporation, DWK Life Sciences GmbH, VWR International LLC, and others are renowned for their diverse product offerings and significant influence in their specialized markets. Tier 1 firms set the standard for unique solutions by offering a wide range of options across various industries.
Argos Technologies Inc., Azer Scientific Inc., E&K Scientific Products Inc., CELLTREAT Scientific Products, BIOLOGIX GROUP LTD., and Abdos Labtech Private Limited are companies in the Tier 2 category with a significant revenue share and strong regional presence. Despite not being as globally strong as companies in the Tier 1 category are, they remain competitive in the industry due to their specialized product offerings and regional influence.
Due to their niche product lines and little market presence, emerging players as well as companies with limited resources are categorized as firms in the Tier 3 category. Smaller or more specialized businesses with a narrower market focus or niche presence, sometimes catering to certain geographical markets or sectors, make up the Tier 3 companies.
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The section below discusses the country-level forecast for the cryogenic vial industry. The analysis of the regional industries is estimated to project the demand across the regions such as North America, Europe as well as Asia-Pacific.
In the North America, the demand is anticipated to surge from the United States exhibiting a CAGR of 2.7% by 2034.
On the contrary, the demand from emerging regions of Asia-Pacific such as India and China is projected to thrive in the forthcoming decade, highlighting the CAGR of 6.7% and 5.9%, respectively.
| Countries | Value CAGR (2024 to 2034) |
|---|---|
| United States | 2.7% |
| Canada | 2.3% |
| United Kingdom | 2.6% |
| Spain | 3.4% |
| China | 5.9% |
| India | 6.7% |
The industry in the United States is predicted to report a CAGR of 2.7% during the forecast period 2024 to 2034.
In the United States, improvements in medical science are envisioned to propel the need for customized vials tailored for cryogenic experiments. As research and development in the medical field continue to progress, there is a growing demand for specialized vials that can effectively preserve biological materials at ultra-low temperatures.
Bespoke vials play an essential role in ensuring the integrity and viability of various biological samples used in research, diagnostics, and medical treatments.
The demand for personalized treatment and gene therapies has led to a growing demand for innovative vial designs that meet the unique requirements of medical research and applications, which is anticipated to significantly influence cryogenic vial production and supply in the United States.
The industry in India is anticipated to register a CAGR of 6.7% by 2034. Government initiatives such as SERB International Research Experience (SIRE) and Promotion of University Research and Scientific Excellence (PURSE) are estimated to enlarge the consumer base for experimental vials for research purposes.
Research institutes in India such as the Indian Institute of Science (IISc) and IITs are anticipated to develop novel cures and solutions for the treatment of several issues, for that the demand for vials with temperature-adjustment features is estimated to boost in the forthcoming decade.
In the forthcoming decade, manufacturers in the industry are anticipated to develop standard vials, catering to the budding demand from the region.
The increased demand for genetic experimentation by institutions in China is predicted to increase the requirement for medical vials. The need for superior medical vials to preserve and transfer biological samples used in genetic research and experimentation is increasing as these studies proceed.
To satisfy the demands of Chinese institutions and research centers, manufacturers may decide to raise output, which might have a substantial influence on the worldwide medical vial supply chain. With improvements in the industry, the demand is anticipated to report a CAGR of 5.9% through 2034.
Improvements in vial technology and storage techniques that ensure the integrity and security of DNA material may also result from the initiative. China's growing involvement in cutting-edge scientific research is reflected in the rise in demand for medical vials there, which emphasizes the necessity of innovation and growth in the medical vial sector to support these initiatives.
The section contains information about the leading segments in the cryogenic vial industry. In terms of product, the self-standing bottom vail segment is estimated to account for a share of 67.4% in 2024. By end use, the research organization sector is projected to dominate by holding a share of 39.3% in 2024.
| Product | Self-Standing Bottom |
|---|---|
| Value Share (2024) | 67.4% |
In 2024, the demand for vials with self-standing bottoms is anticipated to cater to a revenue share of 67.4%. Over the subsequent decade, the global industry is anticipated to see an increase in demand for self-standing bottom vials, indicating a shift in consumer preferences and industry requirements, due to advancements in cryogenic technology and increased use of cryogenic applications.
The rise in demand for vials due to their self-standing bottoms could improve stability and ease of use, highlighting the need for innovation and adaptability in the sector. Manufacturers and suppliers must respond with tailored products and technical solutions.
| End Use | Research Organizations |
|---|---|
| Value Share (2024) | 39.3% |
The demand for cryogenic vials from research organizations is expected to experience substantial growth in 2024, attaining 39.3% of the industry share. Cryogenic containers are essential for maintaining low temperatures and controlling research environments in physics, chemistry, and materials science, with their need increasing with improvements.
Research organizations, including universities and laboratories, are increasingly recognizing the importance of cryogenic vials in their work, leading to a surge in demand for precise temperature control and material manipulation in extremely cold conditions. The demand is anticipated to increase orders and broaden the market reach for suppliers and manufacturers of vials.
Market players in the cryogenic vial market are estimated to push the limit of production by developing innovative product portfolios that can cater to multiple requirements of the users. The research and development of the novel and unique features of the vials are anticipated to help in the growing practices of research and development in other sectors.
Major players in the industry are envisioned to increase their market share on a global level by employing various strategic approaches. These may include engaging in mergers and acquisitions to consolidate their position, forming partnerships with niche markets to access new customer segments, and augmenting their footprint in different geographic regions to capture novel prospects.
Recent Industry Developments in Cryogenic Vial Market
In terms of material, the industry is bifurcated into plastic and glass.
In terms of products, the industry is divided into self-standing bottom and round bottom.
In terms of capacity, the industry is categorized as up to 1 ml, 1.1 to 2 ml, 2 to 4 ml, and above 4 ml.
End use industries of the sector are research organizations, drug manufacturers, and healthcare institutions.
Key countries of North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East and Africa (MEA), have been covered in the report.
The industry is projected to witness CAGR of 4.3% between 2024 and 2034.
The global industry stood at USD 157.9 million in 2023.
The global industry is anticipated to reach USD 251.8 million by 2034.
India is set to record the CAGR of 6.7% in the assessment period.
The key players operating in the global industry include Thermo Fisher Scientific Inc, Corning Incorporated, Sigma-Aldrich Corporation, DWK Life Sciences GmbH, VWR International LLC, and others.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034 6.1. Material 6.2. Product 6.3. Capacity 6.4. End Use 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Material 7.1. Plastic 7.2. Glass 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product 8.1. Self-Standing Bottom 8.2. Round Bottom 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Capacity 9.1. Upto 1 ml 9.2. 1.1 ml - 2 ml 9.3. 2 ml- 4 ml 9.4. Above 4 ml 10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End Use 10.1. Research Organizations 10.2. Drug Manufacturers 10.3. Healthcare Institutions 11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 11.1. North America 11.2. Latin America 11.3. Western Europe 11.4. South Asia and Pacific 11.5. East Asia 11.6. Middle East and Africa 12. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 13. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 14. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 15. South Asia and Pacific Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 16. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 17. Middle East and Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 18. Sales Forecast 2024 to 2034 by Material, Product , Capacity, and End Use for 30 Countries 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 20. Company Profile 20.1. Thermo Fisher Scientific Inc. 20.2. Corning Incorporated 20.3. DWK Life Sciences GmbH 20.4. Sigma-Aldrich Corporation 20.5. VWR International LLC 20.6. Argos Technologies Inc. 20.7. Azer Scientific Inc. 20.8. E&K Scientific Products Inc. 20.9. CELLTREAT Scientific Products 20.10. BIOLOGIX GROUP LTD. 20.11. Abdos Labtech Private Limited
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Cryogenic Vial Market
