Global Cryostat Market Opportunities And Strategies 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s cryostat market report forecasts the cryostat market size to grow to $3.07 Billion by 2027, with a CAGR (compound annual growth rate) of more than 5%.
Learn More On The Cryostat Market Report 2023 – https://www.thebusinessresearchcompany.com/report/cryostat-global-market-report
Cryostat Market Size Forecast
The global cryostat market is expected to grow from $2.34 billion in 2022 to $2.48 billion in 2023 at a compound annual growth rate (CAGR) of 5.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global cryostat market size is expected to reach $3.07 billion in 2027 at a CAGR of 5.4%.
North America held the largest cryostat market share, and Asia-Pacific was the fastest-growing region in 2022.
Key Cryostat Market Driver – Rise In The Prevalence Of Neuromuscular Diseases
According to Versus Arthritis, a UK-based charity committed to assisting people with arthritis, there are over 20 million people in the UK suffering from musculoskeletal illnesses such as arthritis, according to The State of Musculoskeletal Health 2021 study. One in every three people suffers from chronic pain, with half of them experiencing it on a daily basis. As a result, the growing prevalence of neuromuscular illnesses is propelling the cryostat market forward.
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Key Cryostat Market Trend – Technological Advancement
To enhance their position in the cryostat market, major businesses are focusing on developing innovative technological solutions. For example, Montana Instruments, a cryogenic equipment developer based in the United States, will launch “CryoAdvance,” the world’s first high-precision, fully automated, closed-cycle optical cryostat with a touchscreen user interface and intuitive control technology, in September 2021. The device is built specifically for fluctuating temperature conditions, has a low vibration level, a fully integrated control architecture, and is fully adjustable for quick and high-quality experimental results. The cryostat, with all of its control electronics and vacuum pumps, can automate temperature regulation across the entire range.
Cryostat Market Segment
1) By Type: Closed-Cycle Cryostats, Continuous-Flow Cryostats, Bath Cryostats, Multistage Cryostats
2) By System Component: Dewars, Transfer Tubes, Gas Flow Pumps, Temperature Controllers, High Vacuum Pumps, Microtone Bladed
3) By Cryogen: Helium, Nitrogen
4) By End-Use Industry: Healthcare, Energy and Power, Aerospace, Metallurgy, Biotechnology, Forensic Science, Marine Biology
Cryostat Market Major Players and Strategies
Major players in the cryostat market are Advanced Research Systems Inc., Lake Shore Cryotronics Inc., Cryomech Inc., Dakewe Biotech Co Ltd., Epredia, Hacker Instruments & Industries Inc., Histo-Line Laboratories Srl, Jinhua YIDI Medical Appliance Co Ltd., SLEE Medical GmbH, Leica Biosystems, Lupetec Technologies, Medimeas Instruments, MEDITE Medical GmbH, SM Scientific Instruments Pvt Ltd., Boeckeler Instruments Inc., Bright Instruments Ltd., Precision Cryogenics Systems Inc., Atico Medical Pvt Ltd., Attocube Systems AG, Mirion Technologies Inc., Biobase Biodusty Co Ltd., AMETEK Scientific Instruments, and Cryofab Inc.
Lake Shore Cryotronics, a US-based provider of cryogenic temperature and magnetic solutions, bought Janis Research Laboratory Cryogenics for an unknown sum in August 2020. The combined capabilities of Lake Sore and Janis increase and strengthen the application expertise and product portfolio in the cryogenic sector as a result of this purchase. Lake Shore is intended to offer a comprehensive portfolio of product solutions, including cryogenic research equipment, as a result of the acquisition. Janis scientific is a manufacturer and provider of cryogenic equipment for all scientific applications situated in the United States.
The Cryostat Global Market Report 2023 covers regional data on cryostat market size, cryostat market trends and drivers, opportunities, strategies, and cryostat market competitor analysis. The countries covered in the cryostat market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
A cryostat is a piece of medical equipment that maintains tissue sections at a constant low temperature while slicing them into thin slices for microscopic examination, enabling for the diagnosis of a variety of diseases and maladies. It is used to keep frozen tissue samples safe.
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