Cryostat Market Analysis 2024 – Estimated Market Size And Key Drivers

The Cryostat by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Cryostat, The cryostat market size has grown strongly in recent years. It will grow from $2.48 billion in 2023 to $2.63 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%.  The growth in the historic period can be attributed to expansion of biomedical research, rise of cryo-electron microscopy (cryo-em), biobanking and biorepository development, cancer research and diagnostics, drug discovery and development, tissue engineering advancements, increase in cryonics services.

The cryostat market size is expected to see strong growth in the next few years. It will grow to $3.42 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.  The growth in the forecast period can be attributed to expanding role in drug manufacturing, growing importance of genomic research, global expansion of biobanking activities, quality control in pharmaceuticals, shift towards point-of-care diagnostics, advancements in cryogenic storage systems.. Major trends in the forecast period include advancements in cryogenic technologies, technological innovations in imaging, integration with artificial intelligence, collaborations for research and development, applications in nanotechnology.

The rising prevalence of neuromuscular diseases is expected to propel the cryostat market going forward. Neuromuscular diseases refer to conditions that involve injury or dysfunction of the peripheral nervous system. Progressive muscle weakness is one of the predominant problems with these disorders. The cryostat is used to offer a rapid diagnosis for a number of illnesses and medical disorders that include neuromuscular illnesses, so rising rates of neuromuscular diseases increase demand for the cryostat market. For instance, according to The State of Musculoskeletal Health 2021 report, published by Versus Arthritis, a UK-based charity dedicated to supporting people with arthritis, there are over 20 million people in the UK suffering from musculoskeletal disorders such as arthritis. One in three people, with half of those living in pain every day. Therefore, the rising prevalence of neuromuscular diseases is driving the growth of the cryostat market.

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The cryostat market covered in this report is segmented –
1) By Type: Closed-Cycle Cryostats, Continuous-Flow Cryostats, Bath Cryostats, Multistage Cryostats
2) By System Component: Dewars, Transfer Tubes, Gas Flow Pumps, Temperature Controllers, High
Vacuum Pumps, Microtone Bladed
3) By Cryogen: Helium, Nitrogen
4) By End-Use Industry: Healthcare, Energy and Power, Aerospace, Metallurgy, Biotechnology, Forensic Science, Marine Biology

Top Major Players:

• Lake Shore Cryotronics Inc.
• Cryomech Inc.
• Epredia
• Hacker Instruments & Industries Inc.
• Histo-Line Laboratories Srl

North America was the largest region in the cryostat market in 2023.

Technological advancements are a key trend gaining popularity in the cryostat market. Major companies operating in the cryostat market are focused on developing new technological solutions to strengthen their position. For instance, in September 2021, Montana Instruments, a US-based developer of cryogenic equipment, introduced CryoAdvance, the world’s first high-precision, fully automated, closed-cycle optical cryostat with a touchscreen user interface and intuitive control technology. The product is specially designed for variable temperature environments, has a low vibration level, a fully integrated control architecture, and is fully configurable for quick and high-quality experimental results. With all the control electronics and vacuum pumps, the cryostat can automate temperature control across the entire range.

The cryostat market report table of contents includes:
1. Executive Summary
2. Cryostat Market Characteristics
3. Global Cryostat Market Trends And Strategies
4. Cryostat Market – Macro Economic Scenario
5. Global Cryostat Market Size and Growth
…….
26. Global Cryostat Market Competitive Benchmarking
27. Global Cryostat Market Competitive Dashboard
28. Key Mergers and Acquisitions In Cryostat Market
29. Cryostat Market Future Outlook and Potential Analysis
30. Appendix

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