Key Takeaways From The Global Cryostat Market Forecast 2024

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON, UK, February 7, 2024 /EINPresswire.com/ — As per The Business Research Company’s Cryostat Global Market Report 2024, the cryostat market is expected to show significant growth in the forecast period.

Market Overview and Growth Projection
• The cryostat market has witnessed substantial growth recently.
• Market size is set to increase from $2.48 billion in 2023 to $2.63 billion in 2024, with a CAGR of 6.2%.
• Historic growth attributes to expanding biomedical research, cryo-electron microscopy (cryo-EM), biobanking, cancer research, diagnostics, drug discovery, tissue engineering, and cryonics services.
Anticipated Growth and Influential Factors
• Market poised to reach $3.42 billion by 2028, with a CAGR of 6.8%.
• Driving forces include roles in drug manufacturing, genomic research, biobanking expansion, pharmaceutical quality control, point-of-care diagnostics, and cryogenic storage systems.
• Anticipated trends encompass cryogenic technologies, imaging innovations, AI integration, research collaborations, and nanotechnology applications.
Rising Prevalence of Neuromuscular Diseases Fuels Market Growth
• Neuromuscular diseases’ prevalence surge propels cryostat market.
• Cryostats facilitate rapid diagnosis and treatment.
• Versus Arthritis report highlights over 20 million people in the UK affected by musculoskeletal disorders, driving demand for cryostats.

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Advancing Cryostat Automation and Experimental Quality
• Technological advancements drive market trends.
• Companies focus on innovative solutions.
• Montana Instruments introduces CryoAdvance, a high-precision, fully automated cryostat enhancing experimental quality.
Strategic Acquisition Strengthens Market Presence
• Atlas Copco acquires Montana Instruments Corporation in August 2022.
• Acquisition expands cryogenic market presence.
• Montana Instruments, a US-based cryostat manufacturer, enhances Atlas Copco’s reach into quantum technology-related markets.
Market Segmentation and Regional Dynamics
• Cryostat market segmented by type, system component, cryogen, and end-use industry.
• Types include closed-cycle, continuous-flow, bath, and multistage cryostats.
• System components encompass dewars, transfer tubes, gas flow pumps, temperature controllers, high vacuum pumps, and microtone bladed.
• Cryogens include helium and nitrogen.
• End-use industries range from healthcare to aerospace and biotechnology.
• North America led the cryostat market in 2023, with Asia-Pacific expected to witness the fastest growth during the forecast period.

Conclusion: Navigating Opportunities in a Dynamic Market
The cryostat market presents lucrative opportunities propelled by technological advancements, rising prevalence of neuromuscular diseases, and strategic acquisitions. As the market expands, stakeholders must embrace innovation and collaboration to meet evolving demands effectively. With projected growth across various industries and regions, the cryostat market offers avenues for research, diagnostics, and therapeutic advancements. By leveraging emerging trends and fostering partnerships, stakeholders can navigate the dynamic landscape and contribute to advancements in cryogenic technologies and experimental quality.

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Oliver Guirdham
The Business Research Company
20 7193 0708
[email protected]
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