DUBLIN, 22 October 2021 / PRNewswire / – The report “Global Cryostat Market – Forecasts from 2021 to 2026” has been added to ResearchAndMarkets.com offer.
The global cryostats market is expected to grow at a CAGR of 5.27% during the forecast period to reach 2.879 billion US dollars by 2026, from 2.010 billion US dollars in 2019.
A cryostat is an artificial chamber that preserves the object stored in it by maintaining a very low temperature in the chamber. The low temperature freezes the contents and keeps them safe and intact. In addition, interference from environmental substances and microorganisms can be avoided through the use of cryostats. Robust growth in medical research and technology has dramatically increased the demand for cryostat, supporting the growth of the market during the forecast period. Key developments in various industry verticals are expected to create strong market potential. Moreover, technological advancements in the industry are expected to open up opportunities during the forecast period.
Helium Cryostat is expected to hold a remarkable market during the forecast period
Cryogen-based, the global cryostats market is distinguished by nitrogen cryostats and helium cryostats. It is expected that during the forecast period, the helium cryostat will hold a notable share of the market. Liquid helium cryostat is effective in undertaking target cooling, and hence is more widely adopted in various industrial sectors. ARS Liquid Helium Flow Cryostat is the most cryogen efficient flow cryostat with the ability to reach less than 2000K Temperature. This characteristic makes the ARS liquid helium cryostat the most suitable for several industry verticals. The liquid helium bath cryostat is the primary basis for cryostats manufactured for use in neutron scattering experiments. However, the limited availability of helium and environmental concerns are a constraint to the growth of the segment, limiting the market outlook.
Continuous-flow and bath cryostats are expected to hold a significant share of the global cryostats market
The global cryostats market, based on the type of cryostat, stands out as closed flow cryostat, continuous flow cryostat, bath cryostat and multistage cryostat. Continuous flow cryostat and bath cryostat are expected to hold a significant share of the market during the forecast period. The wide-neck bath cryostat with a vacuum chamber and a helium and / or nitrogen chamber is the standard cryostat with a temperature ranging from 1.2 to 4.2K. The Janis Bath cryostat is liquid helium, 4 dewars have DC field resistance, which makes it a superior technology in the cryostats industry. The company’s SuperTran continuous flow cryostat is also a market leader with less than 2K To 325 K operating range. The technology is able to use both liquid helium or liquid nitrogen, which gives the user a greater advantage.
Strong growth in several industry verticals is expected to increase end-user consumption of cryostat technology, creating significant demand in the cryostat industry in the coming years.
The global cryostats industry is divided, based on end user verticals, into healthcare, metallurgy, energy and power, aerospace, biotechnology, and others. These verticals are expected to show robust growth potential, creating significant demand for cryostats technology, thus driving the market growth. Demand from the power and power industry for cryostats technology is expected to grow at an exponential rate due to the increase in the number of construction projects, especially renewable energy projects, over the course of of the forecast period. Citing data from Our World in Data, renewable energy production has grown at an exponential rate. The share of primary energy from renewable sources globally has increased significantly from 8.29% in 2010 to 11.41% in 2019.
In addition, new renewable energy projects around the world are expected to further support the market growth. Wudongde Hydroelectric Project, China, Inga 3 in Congolese, Keeyask hydroelectric power station, Canada, Hornsea Project 2 in the UK and Leh and Kargil Solar Power Project in India, are key multi-billion dollar projects under construction in 2021. The development of these projects should open up new opportunities for the cryostats industry.
The development of healthcare, aerospace and biotechnology are other key market drivers for the industry. The higher demand for cryostat is the result of increased investments coupled with an increasing demand for end products. In addition, technological improvement in these industries is expected to increase the reach of the cryostats market.
The coronavirus pandemic has spurred the adoption of the cryostat industry in the healthcare and forensic science sectors. With the onset of the virus, medical research institutes began to develop remedies and vaccines. The research included increasing adoption of advanced technologies producing better results. This included the adoption of improved cryostat technology for superior storage and observation of tissue and / or virus. Additionally, the increase in medical testing of patients has led to greater adoption of cryostats technology. The tests, per 1000 people increased significantly in the UK from 2.69 July 30, 2020, at 13.74 the July 30, 2021. Other countries have also seen an increase in testing during this period.
april 2020, Innovation. Quantum Design, a specialist in cryogenics, has innovated a magneto-optical cryostat that combines a high magnetic field with cryogenic technology, in a dedicated optical environment.
June 2019, Acquisition. PHC Holding Corporation acquired the anatomical pathology business of Thermo Fisher Scientific, including the latter’s NX series of cryostats.
Main topics covered:
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1. Market factors
4.2. Market constraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining power of suppliers
4.3.2. Buyers’ negotiating powers
4.3.3. The threat of substitutes
4.3.4. The threat of new entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry value chain analysis
5. GLOBAL CRYOSTATS MARKET, BY PRODUCT TYPE
5.2. Closed cycle cryostat
5.3. Continuous flow cryostat
5.4. Bath cryostat
5.5. Multi-stage cryostat
6. GLOBAL CRYOSTATE MARKET, BY COMPONENT
6.3. Transfer tubes
6.4. Gas flow pumps
6.5. High vacuum pumps
7. GLOBAL CRYOSTATE MARKET, BY CRYOGEN
8. GLOBAL CRYOSTATE MARKET, BY INDUSTRY
8.2. Health care
8.4. Forensic Sciences
8.5. Energy & Power
9. WORLD CRYOSTATE MARKET, BY GEOGRAPHY
9.2. North America
9.2.1. United States
9.3. South America
9.5. Middle East and Africa
9.5.1. Saudi Arabia
9.5.2. United Arab Emirates
9.6. Asia Pacific
9.6.3. South Korea
10. COMPETITIVE ENVIRONMENT AND ANALYSIS
10.1. Major players and strategic analysis
10.2. Emerging players and lucrative market
10.3. Mergers, acquisitions, agreements and collaborations
10.4. Supplier competitiveness matrix
11. COMPANY PROFILES
11.1. Leica Biosystems Nussloch GmbH
11.2. Advanced search systems
11.4. Cryovac GmbH & Co. KG
11.5. Cryotech Inc.
11.6. Amos Scientific Pty Ltd
11.7. SLEE Medical GmbH
11.8. Jinhua Yidi Medical Appliance Co., Ltd.
11.9. Luminous Instruments Ltd.
11.10. Jains Research Company, LLC
For more information on this report visit https://www.researchandmarkets.com/r/v6xxpc
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