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The cryogenic freezers market size is forecast to increase by USD 181 million, at a CAGR of 8.09% between 2023 and 2028. The market is experiencing significant growth due to the increasing demand from the healthcare industry for preserving biological samples and pharmaceutical products at extremely low temperatures. Another trend driving the market is the growing emphasis on developing eco-friendly cryogenic freezers, which use less energy and reduce carbon emissions. However, the market faces challenges from faulty or loosely insulated cryogenic freezers, which can lead to sample damage and increased operational costs. To mitigate these challenges, manufacturers are focusing on improving insulation materials and developing advanced monitoring systems to ensure optimal freezer performance. Overall, the market is expected to witness steady growth in the coming years, driven by these factors and the increasing adoption of cryogenic freezers in various end-use industries.
The market is witnessing significant growth due to the increasing prevalence of medical illnesses requiring cryopreservation for organ and cell storage in the medical sector. Cryogenic freezers are essential for preserving biological samples, including organs, cells, and genomic research materials, at extremely low temperatures. These freezers play a crucial role in food safety by preserving perishable food items using cryogenic refrigeration systems and insulation materials like liquid carbon dioxide. Cryogenic freezers are designed with temperature consistency, hygienic design elements, and mechanical systems to ensure specimen integrity. Tunnel freezers and cryogenic refrigerators are popular cooling technologies used in the market.
Moreover, the integration of Internet of Things (IoT) and cold chain management systems further enhances the efficiency and reliability of these freezers. Viruses and other biological agents require stringent preservation conditions, making cryogenic freezers an indispensable tool for bio banking sectors and research institutions. The market growth is driven by the increasing demand for advanced cooling technologies and insulation materials to maintain optimal temperature consistency for various applications.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The tunnel freezer segment is estimated to witness significant growth during the forecast period. Cryogenic freezers, specifically tunnel freezers, play a significant role in various industries, including medical sector and food preservation. In medical illnesses, cryopreservation of organs, cells, tissues, and even organelles is crucial for future use. Tunnel freezers, with their hygienic design elements, are ideal for such applications due to their ability to maintain temperature consistency. These freezers utilize liquid nitrogen or other cryogenic gases, such as helium, hydrogen, or electronic gases like nitrogen, to create extremely low temperatures. In the medical sector, cryogenic refrigerators are essential for storing temperature-sensitive medications, responsive cells, vaccines, and biopharmaceuticals. Tunnel freezers offer high throughput and continuous processing capabilities, making them indispensable for blood banks and research institutions.
Similarly, in the food industry, tunnel freezers are used for food and beverages preservation, employing technologies like IQF (Individual Quick Freezing), immersion freezing, or spiral freezing. Food safety is paramount, and tunnel freezers ensure that viruses and bacteria are eliminated during the freezing process. Industrial gas providers offer a range of gases, including carbon dioxide, atmospheric gases, and oxygen, to fuel these freezers. Tunnel freezers' versatility extends to corporate laboratories and the pharmaceutical business, where they are used to preserve temperature-sensitive materials.
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The tunnel freezer segment was valued at USD 89.80 million in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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Cryogenic freezers are essential equipment in various industries, including healthcare, manufacturing, petroleum refining, and research sectors. These freezers utilize argon as a cryogenic refrigerant to maintain extremely low temperatures, making them indispensable for storing and preserving sensitive materials such as biological samples, skin disinfectants, antiseptics, and pharmaceuticals in the bio banking sector. In addition, cryogenic freezers play a crucial role in industries like beverage carbonation, fiber optics, steel production, aerospace, chemicals and energy, electronics, water treatment, hydrogen and carbon dioxide plants, food processing, automotive, and processing facilities. The refrigeration system of these freezers relies on insulation materials and cooling technologies like liquid carbon dioxide to maintain the required temperature.
Moreover, the mechanical systems and energy-efficient solutions ensure optimal performance and temperature control. The integration of smart features such as Internet of Things (IoT), cold chain management, remote monitoring, and data logging ensures specimen integrity, enabling applications in organ transplants, personalized medicine, and biotechnology firms. Cryogenic freezers' versatility and advanced technologies make them an indispensable asset for various industries, ensuring the safe and efficient storage and transportation of temperature-sensitive materials.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Growing demand from the healthcare industry is the key driver of the market. The medical sector, including healthcare and pharmaceuticals, relies heavily on cryogenic freezers for preserving and storing temperature-sensitive medical specimens and pharmaceutical products. Cryopreservation, a process used for medical illnesses such as cancer and genetic disorders, involves freezing organs, cells, tissues, organelles, and blood samples using cryogenic refrigerators. These freezers maintain consistent temperatures, ensuring the integrity of the stored materials. In food safety, cryogenic freezers are essential for food preservation, particularly for food and beverages that require quick freezing and temperature consistency. Tunnel freezers, IQF freezers, immersion freezers, and spiral freezers are commonly used for food preservation. Similarly, in the pharmaceutical business, cryogenic freezers preserve temperature-sensitive medications, responsive cells, vaccines, and biopharmaceuticals.
Moreover, cryogenic freezers operate using various gases, including liquid nitrogen, carbon dioxide, helium, hydrogen, electronic gases, acetylene, and atmospheric gases like oxygen and nitrogen. These gases provide the low temperatures necessary for cryopreservation. In addition, hygienic design elements are crucial for maintaining the purity and sterility of the stored materials. Corporate laboratories and medical and healthcare facilities use cryogenic freezers to ensure optimal preservation and storage conditions.
The growing trend toward the development of eco-friendly cryogenic freezers is the upcoming trend in the market. The market is witnessing significant growth due to its increasing application in various sectors, including medical illnesses and cryopreservation in the medical sector, food safety and preservation in the food and beverages industry, and the pharmaceutical business. Cryogenic refrigerators maintain temperature consistency essential for preserving organs, cells, tissues, organelles, and blood banks, as well as temperature-sensitive medications, responsive cells, vaccines, and biopharmaceuticals. In the medical sector, cryopreservation plays a crucial role in preserving biological samples for future use. The hygienic design elements of cryogenic freezers ensure the purity and safety of these samples. In the food industry, cryogenic freezers such as IQF freezers, immersion freezers, spiral freezers, and tunnel freezers are used for food preservation, maintaining the quality and texture of food products.
Moreover, the pharmaceutical business relies on cryogenic freezers for storing and preserving temperature-sensitive medications and biopharmaceuticals. Liquid nitrogen-based tunnel freezers and cryogenic refrigerators are widely used for this purpose. Industrial gas providers offer various gases, including carbon dioxide, helium, hydrogen, electronic gases, acetylene, and atmospheric gases, to support the cryogenic industry. Collaborations and partnerships are common strategies adopted by companies to gain market share in the market. For instance, in October 2021, Azenta Life Sciences acquired Abeyance Cryo, expanding its portfolio with Abeyance Cryo Solutions' cryogenic freezer products. In March 2021, Linde and Bluefors collaborated to develop cooling solutions for large-scale quantum computers, contributing to the cryogenic industry's growth by ensuring advanced cooling power and efficiency.
Threat from faulty or loosely insulated cryogenic freezers is a key challenge affecting the market growth. Cryogenic freezers play a crucial role in various industries, including medical sector and food preservation, by maintaining extremely low temperatures for cryopreservation of organs, cells, tissues, organelles, and blood banks. These freezers utilize gases such as liquid nitrogen, helium, hydrogen, electronic gases, acetylene, atmospheric gases, and oxygen for cooling. Proper storage and insulation of these gases are essential to prevent leakage, which can pose health hazards and impact food safety, especially for temperature-sensitive medications, responsive cells, vaccines, and biopharmaceuticals. In the medical sector, cryogenic freezers ensure temperature consistency for storing and preserving organs and cells for future use. Hygienic design elements are integral to these freezers to maintain a clean environment.
However, in contrast, for food and beverages, cryogenic refrigerators like IQF freezers, immersion freezers, spiral freezers, and tunnel freezers are used for food preservation, maintaining the extracellular matrix's structure and preventing viruses' growth. Corporate laboratories in the pharmaceutical business, chemicals, and industrial gas providers rely on cryogenic freezers for storing and transporting temperature-sensitive materials. However, faulty or loosely insulated cryogenic freezers can pose health risks due to gas leakage. For instance, inhaling argon can cause suffocation, stinging sensation in the eyes, vomiting, dizziness, rapid breathing, excitation, headaches, excess salivation, stinging of the nose and throat, and may result in unconsciousness.
Ensuring proper insulation and maintenance of cryogenic freezers is essential to mitigate these risks and maintain a safe working environment.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ACMAS Technologies Pvt. Ltd. - The company offers cryogenic freezers such as medicine and food industry.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is witnessing significant growth due to the increasing prevalence of medical illnesses requiring cryopreservation of organs, cells, tissues, and organelles. In the medical sector, cryogenic freezers are extensively used for preserving organs and cells for future transplantation and research purposes. The food safety sector also utilizes cryogenic freezers for food preservation, particularly for temperature-sensitive items such as vaccines and biopharmaceuticals. Cryogenic refrigerators, including tunnel freezers, IQF freezers, immersion freezers, and spiral freezers, maintain the lowest temperatures using liquified gases like nitrogen, helium, hydrogen, and electronic gases. These freezers ensure temperature consistency, which is crucial for preserving the structure and functionality of responsive cells, organs, and tissues.
Moreover, the pharmaceutical business relies on cryogenic freezers to store temperature-sensitive medications and vaccines, while blood banks use them to maintain the extracellular matrix for long-term storage. Corporate laboratories in industries like food and beverages, medical and healthcare, pharmaceuticals, chemicals, and industrial gas providers use cryogenic freezers for various applications, including storing gases like carbon dioxide, helium, hydrogen, atmospheric gases, and oxygen.
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Market Scope |
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Report Coverage |
Details |
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Page number |
181 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.09% |
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Market growth 2024-2028 |
USD 181 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
7.32 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 35% |
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Key countries |
US, Germany, France, China, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
ACMAS Technologies Pvt. Ltd., AIR WATER INC., ARCTIKO AS, Aucma Co. Ltd, Avantor Inc., Azenta Inc., BioLife Solutions Inc., Chart Industries Inc., Eppendorf SE, Froilabo, Haier Biomedical, Helmer Scientific Inc., Messer SE and Co. KGaA, PHC Holdings Corp., Scientific Research Instruments Co Pvt Ltd, Stericox India Pvt. Ltd., Taylor Wharton, Thermo Fisher Scientific Inc., and ZHONGKE MEILING CRYOGENICS CO. LTD. |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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