Cryo Box Market to Grow with a CAGR of 7.25% through 2028
Rising biobanking activities and increasing focus on bio
preservation are factors driving the Global Cryo Box market in the forecast
period 2024-2028.
According to TechSci Research report, “Cryo Box
Market – Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Cryo Box Market stood at USD 127.35 million
in 2022 and is anticipated to grow with a CAGR of 7.25% in the forecast period,
2024-2028. The global cryo box market has witnessed significant
growth in recent years, driven by various factors that cater to the needs of
research laboratories, biotechnology companies, and pharmaceutical
manufacturers. Cryo boxes are essential tools in the field of cryopreservation,
enabling the safe storage and transportation of sensitive biological samples,
including cells, tissues, and DNA. One of the primary drivers of the global
cryo box market is the rapid advancements in biotechnology and life sciences.
As research in these fields continues to expand, the demand for
cryopreservation solutions has grown substantially. Cryo boxes provide a
reliable and efficient method for storing biological samples at ultra-low
temperatures, preserving their integrity for future experiments and analysis. Biobanks play a crucial role
in the storage and retrieval of biological specimens, which are essential for
various medical and research purposes. The rise in biobanking activities,
driven by the need for large-scale epidemiological studies, genetic research,
and personalized medicine, has led to a surge in demand for cryo boxes. These
boxes help biobanks maintain the quality and viability of stored samples.
Stem cell research has gained
significant attention in recent years for its potential in regenerative
medicine and disease treatment. Cryo boxes are essential for the preservation
of stem cells, which require extremely low temperatures to remain viable. The
growing investment in stem cell research worldwide has driven the demand for
cryo boxes, as they provide a secure storage solution for these valuable cells. The pharmaceutical industry relies
heavily on cryopreservation techniques for storing drug candidates, vaccine
components, and biological reagents. The expansion of the pharmaceutical
sector, driven by an aging global population and the ongoing development of
novel therapeutic drugs, has contributed to the steady growth of the cryo box
market. Pharmaceutical companies need reliable cryo boxes to maintain the
stability and efficacy of their products.
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The Global Cryo Box Market is segmented into material type, end user and company. Based on material
type, the polypropylene
segment
has emerged as the predominant market leader. Polypropylene is a lightweight
material, which is advantageous for ease of handling and transportation of cryo
boxes, especially when they are filled with samples. In comparison to
alternative materials like stainless steel or aluminum, polypropylene is more
cost-effective to manufacture, making cryo boxes more affordable for
laboratories and research facilities with budget constraints. Polypropylene
cryo boxes are available in various sizes and configurations, allowing users to
choose the most suitable option for their specific needs. They can also be
customized with dividers, racks, and labeling options, further enhancing their
versatility. Based on region,
North America segment is expected to grow during the forecast
period. North America has stringent regulations governing the
storage and transportation of biological samples. These regulations ensure the
safety and quality of stored samples, pushing organizations to invest in
reliable cryo box solutions that meet the necessary compliance standards. As a
result, cryo box manufacturers in North America focus on developing products
that not only meet but exceed these regulatory requirements. The Asia Pacific region is experiencing rapid market
growth. The biotechnology and pharmaceutical sectors in Asia Pacific are
experiencing significant growth, with companies actively engaged in research,
development, and manufacturing. Cryo boxes play a crucial role in the storage
of raw materials, intermediates, and finished products in these sectors. The
expansion of these industries further bolsters the demand for cryo boxes in the
region.
Major companies operating in Global Cryo Box Market
are:
- Abdos Labtech Pvt. Ltd
- AHN Biotechnologie GmbH
- Aritech Chemazone Pvt. Ltd.
- Biologix Group Ltd.
- Corning Inc.
- Hospital Equipment
Manufacturing Co.
- JaincoLab, National
Analytical Corp.
- Thermo Fisher Scientific Inc.
- Wildcat Wholesale LLC
- Wuxi NEST Biotechnology Co.
Ltd
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“The global cryo box market is poised for continued
growth, thanks to a confluence of factors, including advancements in
biotechnology, biobanking activities, stem cell research, pharmaceutical
industry expansion, personalized medicine, the rising importance of bio
preservation, and stringent regulatory requirements. As research and healthcare
applications continue to evolve, cryo boxes will remain essential tools for the
safe storage and transportation of valuable biological samples, supporting
advancements in science and medicine.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Cryo Box Market By Material Type
(Polypropylene, Polycarbonate, Laminated cardboard, Moisture-repellent
fibreboard), By End User (Chemical Industry, Healthcare Industry, Personal Care
Industry), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Cryo Box Market and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Cryo Box Market.
Contact
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Techsci Research LLC
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