Cryogenic Vials Cap Market is driven by Increase in Growth of Pharmaceuticals Industries Across the Globe

A vial is a small cylindrical glass container which is used to hold liquid medicines. Cryogenic vials are designed to store and to transport biological material or samples such as human or animal cell, serum and antibody, at temperatures as low as -196°C, with the help of cap. Sterile cryogenic vials are developed to store biological material at extreme temperature. Cryogenic vials are manufactured from polypropylene and sterilized by gamma radiation. The cryogenic vials caps are manufactured from medical polyethylene (PE) and are co-molded with a layer of thermoplastic elastomer (TPE), which provides the leak-proof benefits of an o-ring to minimize the risk of contamination. Cryogenic vials caps (contains silicone packing inside for air tightness) come either in wide range of colors (generally red, blue, pink, white, green and yellow coded) or in natural color with cap inserts, which provides quick individual identification of cryogenic vials to simplify inventory maintenance. Cryogenic vials are sterile, non-cytotoxic and non-pyrogenic. Cryogenic vials come in a various range of volumes, usually from 1 to 5 ml, with suitable graduation marks and labeling areas for easy testing. A barcode is used for automated data collection, sample identity, and accurate sample inventory purpose. The global cryogenic vials cap market is expected to register significant CAGR during the forecast period.

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Global Cryogenic Vials Cap Market: Drivers and Restraints

The increase in growth of pharmaceuticals industries across the globe, is a key factor, which is majorly driving the demand for cryogenic vials cap. Moreover, the increasing prevalence of chronic diseases such as diabetes, cancer, and communicable diseases is expected to drive the growth of the global cryogenic vials cap market. Also, rise in aging population worldwide, and a rapid pace of industrialization are also expected to fuel the demand for global cryogenic vials cap market over the forecast period

However, high cost associated with cryogenic vials is a primary concern, which is hindering the growth of the global cryogenic vial cap market throughout the next decade.

Global Cryogenic Vials Cap Market: Segmentation

The global cryogenic vials cap market is segmented on the basis of cap type, bottom type, and end-use industry.

On the basis of cap type, the global cryogenic vials cap market is segmented into:

Outer Cap (External Threaded)
Inner Cap (Internal Threaded)

On the basis of bottom type, the global cryogenic vials cap market is segmented into:

Round (Elliptical) Bottom
Flat Bottom

On the basis of end use industry, the global cryogenic vials cap market is segmented into:

Medical Research Institution/Laboratory
Pharmaceutical
Biotechnology

Global Cryogenic Vials Cap Market: Regional Outlook

Based on the geographies, the global cryogenic vials cap market is segmented into five key regions, namely North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to account for the maximum revenue share among all the regions, this is due to the economic manufacturing conditions and favorable trade conditions. Asia Pacific is expected to remain the promising regional market during the forecast period, this is due to rapid pace of industrialization. Owing to the presence of major market player namely, Starlab International GmbH, the Europe cryogenic vials cap market is expected to register decent CAGR during the forecast period. On the other hand, Latin America and MEA are anticipated to exhibit modest growth rate for cryogenic vials cap market over the forecast period.

Global Cryogenic Vials Cap Market: Key Players

Some of the major players identified in the global cryogenic vials cap market are

Sumitomo Bakelite Co., Ltd.
Simport Scientific
Globe Scientific Inc.
Starlab International GmbH
Heathrow Scientific
VWR
Thermo Fisher Scientific Inc.
Lab Depot Inc.
Caesa-Labs Inc.
BioCision
Wheaton
E&K Scientific Products, Inc.

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This release was published on openPR.