LONDON–(BUSINESS WIRE)–#Biotechnology–The global cryogenic vials market size is poised to grow by USD 42.48 million during 2020-2024, according to a new report by Technavio, progressing at a CAGR of close to 5% during the forecast period. Request Free Sample Pages
Read the 152-page research report with TOC on “Cryogenic Vials Market Analysis Report by Type (Internally threaded cryogenic vials and Externally threaded cryogenic vials), and Geography (North America, Europe, Asia, and ROW) 2020-2024”.
The market is driven by the growing use of cryogenic vials in drug research and development. Also, the growing focus towards improving design and quality standards are anticipated to further boost the growth of the cryogenic vials market.
The demand for cryogenic vials is increasing significantly from biopharmaceutical companies and contract research organizations. Biopharmaceutical companies rely on long-term storage technologies such as cryopreservation for freezing and thawing biomaterials such as antibodies, cell suspensions, protein solutions, nucleic acid, and microorganisms, among others. Moreover, regulatory mandates pertaining to the efficient storage of biomaterials using ultra-low and cryogenic freezers have increased the adoption of cryogenic vials. Cryogenic vials are also utilized in biopharmaceutical supply chains for safe logistics and transport of vaccines, drug products, and raw materials. Thus, the growing demand for cryogenic vials in drug research and development will drive the market growth during the forecast period.
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Major Five Cryogenic Vials Companies:
Avantor Inc.
Avantor Inc. has business operations under various segments, which include materials and consumables, equipment and instrumentation, and services & specialty procurement. The company’s key offerings include cryogenic vials, and cryovials 2D barcoded.
BIOLOGIX GROUP Ltd.
BIOLOGIX GROUP Ltd. offers a wide range of products such as biobanking solutions, cryogenic vials, cryogenic boxes, freezer racks, scanners, software, freezers, liquid nitrogen containers, Smart-Cart vial handling cart, and CryoKING tube handling system through its CryoKING brand. The company offers cryogenic vials such as 2.0ml Internal Thread Cryovials with Multi Codes, 2.0ml External Thread Cryovials with Multi Codes and 2D Barcoded Cryogenic Vials with Side Barcodes.
Brooks Automation Inc.
Brooks Automation Inc. operates its business through two segments, namely Brooks Semiconductor Solutions Group, and Brooks Life Sciences. The company’s key offerings include TruCool Cryogenic Vials and Sample tubes.
Corning Inc.
Corning Inc. has business operations under various segments, which include display technologies, optical communications, environmental technologies, specialty materials, and life sciences. Some of the company’s key offerings include Corning Internal Thread Cryogenic Vials, Corning External Thread Cryogenic Vials, Corning Internal Thread Cryogenic Vials with CE Mark, and Corning External Thread Cryogenic Vials with CE Mark
DWK Life Sciences GmbH
DWK Life Sciences GmbH operates its business through three segments, namely DURAN, WHEATON, and KIMBLE. The company’s key offerings include WHEATON CryoELITE cryogenic Vials, and WHEATON ELITE packaging vials.
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Cryogenic Vials Type Outlook (Revenue, USD Million, 2020-2024)
- Internally threaded cryogenic vials
- Externally threaded cryogenic vials
Cryogenic Vials Regional Outlook (Revenue, USD Million, 2020-2024)
- North America
- Asia
- Europe
- ROW
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