Press Release

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.


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