According to the Market Statsville Group (MSG), the global cryostat market size is expected to grow around USD 3,355.2 million by 2033, at a CAGR of 4.62% from 2023 to 2033.
Cryostats are specialized equipment made up of a tissue microtome (cryotome) in a cooling chamber that enables continuous tissue cutting at extremely low temperatures and quick tissue freezing. Thermostatically precise automated electrical refrigeration systems are used in modern cryostats. Cryostats are used to keep tissue samples frozen, slice tissue sections thin enough for microscopic examination, and provide rapid diagnosis for a various of illnesses and medical disorders, including neuromuscular illnesses. They can also be used to investigate enzyme histochemistry. The entire procedure takes place in a cryogenic environment. The term "cryogenic temperature" refers to temperatures ranging from about -150°C (-238°F) to absolute zero (-273°C or -460°F). This temperature range is thought to be the closest to complete cessation of molecular mobility. A cryostat maintains its temperature by using a freezing chamber and cryogenic gas. Healthcare, energy & power, aerospace, metallurgy, biotechnology, and forensic science are a few potential end markets for cryostats. Amongst these, the rising application across energy & power, and aerospace is expected to accelerate the market growth.
The COVID-19 pandemic has significantly impacted the global economy, although the cryostat market survived the hit due to the accelerated demand in the healthcare sector. During the COVID-19 pandemic, millions of biospecimens were collected. In order to avoid laboratory-related illnesses, adequate biospecimen handling was essential, as was discovered in severe acute respiratory syndrome (SARS). All biospecimens gathered during the pandemic were handled and kept in a safe environment by the scientific community. The use of cryostat was essential in preserving the tissues and diagnosing the illness rapidly. Preserving tissues was essential for experts to work in groups to discuss the present and future handling, storage, and use of these biospecimens to identify the root cause of the virus. Hence with the rise in the spread of coronavirus disease, the demand for cryostats also accelerated.
Cryostats are widely used in various medical applications, majorly in storing tissue specimens. It is used to retain specimens after the tissue has been cut into slices using a microtome for medical use. The preservation of tissue architecture and cell density benefits cryostat-cut frozen sections. It is crucial for detecting neurosurgical materials, particularly when a tumor is diffusely invading. Two key benefits of cryostat sectioning above conventional histology microtome sectioning. First, there is a substantially shorter turnaround between fixation and tissue section. Cryostat sections are ideal for immunofluorescence labeling several proteins in the same tissue segment as protein antigenicity is retained better.
Along with urbanization and industrialization, developing nations have been attempting to raise their standard of living. In order to provide facilities for the use of advanced medical devices, such as Computerized Tomography (CT) simulators, mammography equipment, CT scanners, MRI machines, and Computerized Axial Tomography (CAT) scanners, these countries have been investing in the development of hospitals, clinics, biotechnology, and research. Cryostat usage by healthcare service providers and equipment manufacturers is anticipated to rise in response to the increase in demand for modern medical equipment.
In general, while assessing the overall performance, the cooling capacity of a cryostat must be considered. One of the most important factors considered while developing cryostats is power usage. The heating load and operating temperature greatly impact how much input power a cryostat uses. Nevertheless, breakthroughs in cryostat technology have resulted in a significant reduction in input power requirements, depending on the kind of refrigerant utilized and the system's overall thermal efficiency. Thus, heavy energy consumption may restrain the market growth over the forecast period.
Cryogenic is a term that is frequently mentioned while talking about aeronautical applications. Besides the "suspended animation" or cryogenic sleep references in popular culture, cryogenic technology has several beneficial uses in the aerospace sector. This covers the storage of rocket fuel at extremely low cryogenic temperatures, cryogenic fluids to cool jet engines and other in-flight components, and the cryogenic sampling of stratospheric gases.
Over the past ten years, cryogenic Fluid Management (CFM) technology has been a focus of NASA's efforts. It is a crucial component of the exploration systems for earth-to-orbit transportation, human-crewed missions to the moon and mars, planetary exploration, and in-situ resource utilization (ISRU). For its work on the FACET program, creating a cryostat that complied with the Shuttle Hitchhiker program, and providing a platform for microgravity experiments, Janis Research Company, LLC (US) received its second NASA Public Service Group Achievement Award in 2000.
The study categorizes the cryostat market based on system component, type, cryogen, and vertical at the regional and global levels.
By System Component (Sales, USD Million, 2019-2033)
Based on the system components, the market is bifurcated into dewars, transfer tubes, gas flow pumps, temperature controllers, high vacuum pumps, and microtome blades. In 2022 dewar segment accounts for the largest market share. An essential component of a cryostat from which liquid cryogen is taken is a Dewar. A Dewar typically comprises one or more reservoirs separated from room temperature by a vacuum jacket. These are constructed from aluminum, glass, or stainless steel. Due to stainless steel's durability, low thermal conductivity, and ease of joining with other metals like copper and brass via silver soldering or inert gas welding, it is thought to be the most reliable material for Dewars.
Based on the regions, the global cryostat market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Asia Pacific is expected to grow at the highest CAGR in the forecasted period. The developed economies of China and Japan dominate this market, followed by India, South Korea, and the rest of Asia Pacific. Cryogenic technology is in high demand in the area as a result of recent increases in investments in the healthcare and energy sectors. China, the world’s second-largest healthcare market, had 35,394 hospitals, which offered over 7.1 million beds, indicated by the Chinese-language website of the National Health Commission. Additionally, the import of natural gas by a number of these nations has contributed to expanding the cryogenics business in this area. Along with several other emerging countries in the region, Japan is the region's biggest buyer of LNG. These elements are fueling the Asia Pacific cryostat market's expansion.
The global cryostat market is quite competitive, with key industry players adopting strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions.
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