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Cryostat Market Segmentation By Type (Closed-Cycle Cryostats, Continuous-Flow Cryostats, Bath Cryostats, and Multi-stage Cryostats), By System Component (Dewars, Transfer Tubes, Gas Flow Pumps, Temperature Controllers, High Vacuum Pumps, Microtome Blades, and Others), By Cryogen (Helium, Nitrogen, and Others), and By Industry (Healthcare, Energy & Power, Aerospace, Metallurgy, Biotechnology, Forensic Science, Marine Biology, and Others) Industry Forecast | 2022 to 2027

Published: March, 2023
ID: 10445
Pages: 170
Formats: report pdf report excel report power bi report ppt

Cryostat Market Size, Share & Trends (2022 - 2027)

The Global Cryostat Market is anticipated to develop in a considerable manner over the outlook period. It is estimated that the target market will value around USD 2341.5 million by 2026 from USD 2059.8 million in 2021, registering a CAGR of 3.3% over the period of 2022 - 2027.

Cryostats are majorly employed for offering low cryogenic temperatures of samples or devices that are mounted within the cryostat. In these devices, temperatures are maintained in low condition by using numerous refrigeration methods, whereas, the most commonly used method is the cryogenic fluid bath like liquid helium.

The most influential factor of the Cryostat Market is the constant growth of the application of continuous flow cryostat systems in high-resolution spectrograph & multiple detector systems. Moreover, advantages like faster cool downtime with nominal temperature stability of continuous flow cryostat systems are growing with the adoption of these cryostats. Thus, the nominal cryogen consumption rate and broad temperature ranges of constant flow cryostat systems are playing a crucial role in the Global Cryostat Market.

Recent Developments

  • Larsen & Toubro (L&T) Heavy Engineering has announced that they are has manufactured the Cryostat base that was 1,250 tonne and the single largest section of the world's largest nuclear fusion reactor, which has been recently added to a reactor building in France for advancements in the nuclear engineering world.
  • Schrödinger has announced that they are into a strategic collaboration with Thermo Fisher Scientific, one of the key players in the Global Cryostat Market, for extending the utilization of cryo-EM in connection within silicon compound screening for accelerating the drug discovery.

Drivers and Restraints of Cryostat Market

The growing demand for advance and effective healthcare procedures for diagnosis all around the world especially in emerging economies, the requirement for storing & maintaining tissue samples for research & diagnosis purposes in medical facilities and laboratories are driving the growth of the Global Cryostat Market. Also, the large-scale adoption of cryostat systems in the target market owing to the growing healthcare industry and enhancing diagnostics in healthcare procedures is boosting the growth of the Cryostat Market across the globe. Furthermore, growing demand for superconducting system in the energy sector because of the massive adoption of natural gas pipelines for transmission, companies emphasizing on the advancements of cryostat machines for enhancing the efficiency to provide fast & accurate diagnostics thereby boosting the demand for the Cryostat, worldwide, are the other key factors that are driving the growth of the target market.

However, complexities such as the occurrence of freeze artefacts in the frozen section procedure during the tissue diagnosis of cryostat systems are the major restraint that was hampering the growth of the Global Cryostat Market. In addition, issues such as frequent heat losses in a cryostat and the need for high input power are the other key factors that are challenging the growth of the target market.

Nonetheless, growing demand for cryogenic systems among the aerospace and astronomy are creating lucrative opportunities for the expansion of the players in the Global Cryostat Market.

Impact of COVID-19 on the Cryostat Market

The impact of the COVID-19 pandemic on the Global Cryostat Market is in a very negative way. This effect of the pandemic on the market is due to the fact that the situation is forcing various companies in the Cryostat market to halt their business operations for complying with the new government regulations that are implemented for restraining the spread of the coronavirus. This slump in operations of the market is directly impacting the revenue flow of the Global Cryostat market.

Market Segmentation of Cryostat Market

Based on the type of Cryostat, the global Cryostat market is segmented into Closed-cycle cryostats, Continuous-flow cryostats, Bath cryostats, and Multi-stage cryostats.

Depending on the system component, the global Cryostat market is divided into Dewars, Transfer tubes, Gas Flow pumps, Temperature controllers, High vacuum pumps, Microtome blades, and others.

On the Cryogen Outlook, the global Cryostat market is segmented into Helium, Nitrogen, and others.

In the Industry Outlook, the global Cryostat market is segmented as Healthcare, Energy & power, Aerospace, Metallurgy, Biotechnology, Forensic science, Marine biology, and others.

Region wise analysis

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle-East & Africa

In the regional analysis of the Global Cryostat Market, North America held the major share in the worldwide market. The growth in the demand for cryostats in the countries of the Asia-pacific region that includes China, Japan, and others is the major factor that was driving the growth of the target market in this region. Moreover, growing imports of natural gases in various countries, which is fuelling the trade as well as the growth of the market for cryogenics in the area are the other key factors that is boosting the growth of the Asia-Pacific Cryostat Market. Also, it is expected that the target market of Asia-Pacific is going to maintain its dominance over the outlook period owing to the on-going advancements in this region.

Key Players of Market

The key players in the Global Cryostat Market include Advanced Medical & Optical Systems (Amos) (Belgium), Advanced Research Systems, Inc., (Australia), Atico Medical Private Limited, Bright Instruments Ltd. (U.K.), Cryomech, Inc. (U.S.), Janis Research Company, LLC. (U.S.), Jinhua Yidi Medical Appliance Co., Ltd. (China), Leica Biosystems Nussloch GmbH (Germany), SLEE Medical GmbH (Germany), and Thermo Fisher Scientific, Inc. (U.S.) among others.

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