The global cryogenic boxes market is expected to grow at a CAGR of 7.3% between 2022 and 2032. The market value is projected to increase from US$ 326.2 Million in 2022 to US$ 657.3 Million by 2032.
Cryogenic boxes have become an essential tool for biobanking, clinical laboratories, and research facilities. These containers are made of materials that can withstand extremely low temperatures, such as stainless steel, aluminum, and plastic. Cryogenic boxes come in various sizes and shapes, and they can hold different amounts of samples, depending on the type of box.
The global cryogenic box market is growing due to the increasing development of stronger antiviral medications, research into improved vaccine development, and immunity-boosting doses. Biodegradable, recyclable, and ecologically friendly materials are being developed by key stakeholders.
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Growth in the cryogenic boxes market might be hampered by downward cost pressure in the pharmaceutical and healthcare sectors. The difficulties of continual product development and manufacture of superior grade cryogenic boxes can drive up market selling prices, affecting product supply.
Polypropylene, for example, has a shorter life duration and takes 20-30 years to disintegrate, resulting in trash accumulation. Replacing polypropylene with cardboard and fiberboard raises product costs and does not deliver the same level of efficiency. This factor may limit the growth of the cryogenic box market.
The biodegradability and recyclability of materials are important factors in influencing the cryogenic box market dynamics. Eco-friendly material improvements are critical to the cryogenic box market’s success.
Cryogenic boxes made of cardboard and fiberboard is predicted to rise in popularity during the prediction period. COVID-19 vaccine development and distribution, on the other hand, remain the product’s most promising market development prospects.
Key Takeaways from Global Cryogenic Boxes Market
- Plastic cryogenic boxes are expected to increase at the 7.8% CAGR during the projection period (2022-2032).
- Paper & paperboard cryogenic box segment will witness fastest growth due to the easy biodegradable property of paper & paperboard cryogenic box
- The U.S. cryogenic boxes market is estimated to expand 2.1x of the current value, by 2032.
- The healthcare industry accounted for the 44% value share in 2021 and is poised to increase at a CAGR of 8% in the global market.
- India cryogenic boxes market is expected to grow at a CAGR of 8.1%. between 2022 and 2032.
Cryogenic Boxes Market: Drivers
Several factors are driving the growth of the Cryogenic Boxes Market. Let’s take a look at some of these drivers:
- Growing Demand for Cryopreservation- The increasing demand for cryopreservation of biological materials is one of the primary drivers of the Cryogenic Boxes Market. Cryopreservation is the process of preserving cells, tissues, and organs at very low temperatures (-80°C to -196°C). This process helps to prevent cell death and maintain the viability of biological materials. Cryogenic boxes are designed to maintain the low temperatures needed for cryopreservation.
- Advancements in Cryogenic Technology- Advancements in cryogenic technology have led to the development of new cryogenic boxes that are more efficient and cost-effective. The introduction of new materials, such as carbon fiber, has also helped to reduce the weight of cryogenic boxes, making them easier to handle and transport.
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“Cryogenic boxes are gaining traction in the pharmaceutical and healthcare sector. They are also gaining immense popularity as a result of the growing demand for shipping organic material at ultra-low temperatures.” –comments FMI Analyst
Global Cryogenic Boxes Market Landscape
With big global and local competitors, the cryogenic box market is fiercely competitive. Customers can choose their sizes thanks to the market’s leading companies. Cryogenic boxes lids are also being innovated by several manufacturers in order to gain market share. Market shares are projected to change as a result of overall innovation in material, size, and appearance.
Some of the market’s major companies are
- Tarsons,
- Thermo Fisher Scientific Inc.,
- Cole-Parmer Instrument Company, LLC,
- Merck KGaA,
- ratiolab,
- BIOLOGIX GROUP LTD,
- Heathrow Scientific,
- Bioline Technologies,
- TENAK A/S,
- Deluxe Scientific Surgico Private Limited,
- CAPP,
- GENAXXON bioscience,
- Glassco,
- AHN Biotechnologie GmbH
Global Cryogenic Boxes Market by Category
By Material:
- Plastic
- Paper & paperboard
- Metal
By Application:
- Vials
- Ampoules
- Tubes
By End Use Industry:
- Chemical
- Healthcare
- Personal Care
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