Global cryostat market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 6% during the forecast period.
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A cryostat is a device or an instrument which is used to maintain low cryogenic temperatures of devices or samples located inside the cryostat. This low temperature is generally maintained by using different types of refrigeration methods such as cryogenic fluid bath.
An increasing significance of cryostat device in several applications within medicine, engineering and science is the major driving factor behind the growth of the market. A surge in the demand for efficient healthcare services across the globe, rising production of liquefied natural gas, high adoption of cryostats in numerous aerospace applications, growing use of natural gas pipelines and escalating requirement for cryostat in medical laboratories are expected to improve the growth of the market during the forecast period.
However, high power consumption by cryostat device and cryogen gases leakage issues are the major restraining factors that could impede the growth of the market.
Global Cryostat Market: Segmentation Analysis
By type, continuous-flow cryostats segment is projected to witness fast growth at a CAGR of XX% during the forecast period. A surge in the adoption of continuous flow cryostat in applications such as high spatial resolution photoluminescence, microscopy and imaging is accredited to the growth of the market. An increasing significance of these cryostats in multiple detector system, high resolution spectrograph an in-physics experiments with low-temperature are expected to expand growth of the market during the forecast period.
By application, magnetic resonance imaging (MRI) and research magnet types segment dominated the market in 2019 and is projected to witness high growth at a CAGR of XX% during the forecast period. MRI machines use cryogen gases, typically Helium, to cool down the magnets present in the MR scanner. Thus, rising use of cryostats in MRI machines to hold these cryogen gases, in a liquid state is attributed to the growth of the market. Alternatively, biological microtome type segment also expected to witness fast growth at a CAGR of XX% during the forecast period. A rising demand for cryostats in applications such as frozen section histology process and in medicine to cut histological slides is likely to improve market growth in the coming years.
Global Cryostat Market: Regional Analysis
Region-wise, North America held the largest market share in 2019 and is expected maintain its dominance at CAGR of XX% during the forecast period. The US and Canada are the major key contributors behind the growth of the market. The growth is attributed to the high adoption of cryostat device in various industries such as aerospace and energy for cooling application.
A rising investments in healthcare industry to develop healthcare services across the region, a surge in the demand for effective and advance healthcare procedures for diagnosis application, massive presence of medical and research laboratories and rising significance of cryostat in astronomy applications are driving the growth of the market in NA region.
The objective of the report is to present a comprehensive analysis of the Global Cryostat Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Cryostat Market dynamics, structure by analyzing the market segments and projects the Global Cryostat Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Cryostat Market make the report investor’s guide.
Scope of Global Cryostat Market
Global Cryostat Market, By Type
• Closed-cycle cryostats
• Continuous-flow cryostats
• Bath cryostats
• Multistage cryostats
Global Cryostat Market, By Application
• Magnetic resonance imaging and research magnet types
• Biological microtome type
Global Cryostat Market, By Industry
• Energy & power
• Forensic science
• Marine biology
Global Cryostat Market, By Region
• North America
• Asia Pacific
• South America
• Middle East and Africa
Global Cryostat Market, Key Players
• Leica Biosystems Nussloch GmbH
• Cryomech, Inc
• Advanced Medical and Optical Systems
• Bright Instruments
• Jinhua YIDI Medical Appliance Co., Ltd
• SLEE Medical GmbH
• Thermo Fisher Scientific Inc
• Janis Research Company, LLC
• Amos Scientific Pty Ltd
• Advanced Research Systems, Inc
• Atico Medical Pvt. Ltd.
• Hacker Instruments & Industries, Inc.
• Boeckeler Instruments, Inc
• Histo-Line Laboratories
• Lupetec – Tecnologia Aplicada
• SCILAB Co Ltd
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