Press release
Cryosystem Market Strategies and Forecasts, 2018 to 2028
Cryosystems are turnkey temperature control systems that provide the temperature of samples that are as low as 80K with the help of nitrogen gas. Cryosystems are designed for use in the freezing of macromolecular powder samples and as well as small molecule samples. Cryosystems can be used for applications from shock cooling to lengthy data sets that last for several weeks.
Cryosystems are also used to cool fluid streams, equipment, raw materials in industrial applications as well as food & beverages in commercial applications. The most important attributes of cryosystems are their durability, efficiency and low environmental impact. In the recent years, the global market for cryosystems has been driven by the rapid growth of industrialisation across the world and the booming pharmaceutical, chemicals, healthcare and food & beverages industries.
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Cryosystem Market: Dynamics
Storage and transportation in a heterogeneous medical industry and improved storage utilisation are among factors driving the cryosystem market. Cryosystems are also used for the storage and transportation of blood, blood samples and organs in the medical & healthcare industry. Moreover, cryosystems are used to store and transport vaccines, viruses and bacteria from one lab to another in the pharmaceutical industry.
As cryosystems are a crucial equipment in the healthcare and pharmaceutical industry, increase in their end use will have a positive impact on the cryosystem market. In addition, the R&D initiatives undertaken to decrease the consumption of coolant are expected to help increase the efficiency of cryosystems and make them more technologically advanced. This is expected to expand the end-use operations of cryosystems, which is expected to boost the cryosystem market over the forecast period.
However, factors such as the high cost of cryosystems, low awareness and the presence of cheaper alternatives, such as refrigerators and cool boxes, is likely to restrain the growth of the cryosystem market over the forecast period. However, the current trend to use better technology equipment for improved results is expected to contribute to the demand for cryosystems during the forecast period.
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Cryosystem Market: Regional Outlook
North America, followed by Europe, holds a significant share of the global cryosystem market owing to the presence of prominent manufacturers of healthcare equipment in the region. The Asia Pacific region is expected to witness robust growth over the forecast period owing to raising awareness among the general population as well as initiatives undertaken by the governments in the region to improve civic infrastructure and healthcare facilities in their respective economies.
Moreover, various government initiatives are estimated to increase foreign direct investments in countries such as China & India, which is also boosting the global demand for cryosystems during the forecast period. Europe, North America and the Asia Pacific are expected to hold more than half of the market share of the global cryosystem market. The rest of the world is estimated to account for a relatively small share of the cryosystem market.
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