Cryostat Market Worth $2.8 Billion by 2027

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CHICAGO, September 26, 2022 /PRNewswire/ — Cryostat market should reach $2.8 billion by 2027 from $2.2 billion in 2022; it is expected to grow at a CAGR of 4.9% from 2022 to 2027, according to a new report from MarketsandMarkets™. Rising applications of cryogenics in energy and electrical and aerospace applications are expected to drive the growth of the market.

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Cryostats are devices for maintaining extremely low temperatures. In medical and pathology laboratories, cryostats are used to keep tissue samples frozen; microtomes, a sharp tool mounted inside cryostats, cut tissue into pieces thin enough to be viewed under a microscope. Cryostats have applications in various applications, such as healthcare, energy and power, aerospace, metallurgy, biotechnology, and forensics. The aerospace applications market is expected to grow at the highest CAGR over the forecast period. However, factors such as cryogenic gas leaks, which may pose certain environmental risks, may negatively affect the growth of the market. Cryostat manufacturers are focusing on solving these problems. The cryostat is an enclosure capable of maintaining low temperatures. Medical laboratories and research centers use cryostats to keep tissue samples frozen; microtome, a sharp cutting tool mounted inside cryostats, cuts tissue into pieces fine enough to be viewed under a microscope. Cryostats have various applications in science, engineering and medicine. The market segmentation depicts various aspects of the market based on type, system component, cryogen, industry, and geography. Market dynamics elaborate on the driving factors, restraints, opportunities, and challenges regarding the cryostat ecosystem. These parameters are further described with appropriate market trends or supporting statistical information.

In type segment, continuous flow cryostat segment is expected to hold the highest market share in cryostat label market during the forecast period

Continuous flow cryostats are cooled by liquid cryogens, such as liquid helium or nitrogen, from storage dewars. As the cryogen boils in the cryostat, it is continuously replenished by a constant flow from the storage dewar. Controlling the temperature of the sample in the cryostat is usually done by controlling the flow of cryogen into the cryostat. In most of these systems, the cooling power available from a stream of cryogens, such as liquid helium or liquid nitrogen, is balanced by the power supplied electrically to a heater near the sample ( usually by a temperature controller). Helium accounted for the largest share of approximately 51% of the overall continuous flow cryostat market in 2021. Helium as a cryogen is commonly used in cryostats to maintain low temperatures and is produced commercially to meet a strong demand.

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North America Cryostats Market Expected to Have Largest Market Share in 2021

The North American cryostat market offers many opportunities owing to the advanced healthcare and aerospace applications in this region. Cryostats have many applications in the healthcare industry, such as MRI, frozen sectioning, exploratory surgeries, X-rays, and spectroscopy. In the fields of space and satellites, cryostats are used to cool various infrared sensors. In the National Aeronautics and Space Administration (NASA) Wide-field Infrared Survey Explorer (WISE) cryostat, a 2-stage solid hydrogen dewar is used to cool the WISE optics and detectors. North America held the maximum share of 34% of the global cryostat market in 2021. The market for North America is mainly driven by healthcare and aerospace applications in this region. Growing demand for cryostats for MRI machines, biopsy diagnostics, frozen section diagnostics, pathology, and clinical laboratories is fueling the growth of the cryostats market in this region. Rising demand for cryostats in the aerospace industry is another factor driving the growth of the cryostat market in this region. In the National Aeronautics and Space Administration (NASA) Wide-field Infrared Survey Explorer (WISE) cryostat, a 2-stage solid hydrogen dewar is used to cool the WISE optics and detectors.

Key Cryostats Market Players:

Leica Biosystems (Germany), Cryomech Inc. (USA), Amos Scientific (Australia), MEDITATE (Germany), Bright Instruments (UK), Dakewe Medical (China), Jinhua YIDI Medical Appliance Co., Ltd. (China), SLEE Medical GmbH (Germany), Advanced Research Systems (USA), Lake Shore Cryotronics (USA), Epredia (USA), SM Scientific Instruments (India), Medimea (India), Hacker Instruments & Industries (USA), Boeckeler Instruments Inc. (USA), Histo-line Laboratories (Italy), Lupetec (Brazil), SciLab Co. Ltd. (France), Cryofab, Inc. (USA), Precision Cryogenics (USA), attocube systems AG (Germany), AMETEK Scientific Instruments (USA), Mirion Technologies (Georgia), BIOBASE (Germany) and Sipcon Instrument Industries (India).

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