Global Medical Cryogenic Storage Equipment Market Size By Application (Hospitals, Medical Testing Centers), By Equipment (Tanks, Valves), By Type (Blood Refrigerators, Medical Freezers), By Geographic Scope And Forecast

Medical Cryogenic Storage Equipment Market Size And Forecast

Medical Cryogenic Storage Equipment Market size was valued at USD 2910.82 Million in 2024 and is projected to reach USD 4674.54 Million by 2031, growing at a CAGR of 6.10% from 2024 to 2031.

With the rising usage of cryogenic storage equipment in the healthcare sector and the advancement and development of cryogenic technology in healthcare and the medical field, the Global Medical Cryogenic Storage Equipment Market has seen substantial growth. The growing use of cryogenic storage equipment in healthcare and the medical area is driving the Global Medical Cryogenic Storage Equipment Market. Furthermore, the industry is being driven by the development of healthcare services in emerging economies. In the medical field, cryogenic storage equipment is often used to store medical gases such as oxygen, carbon dioxide, nitrogen, and nitrous oxide.

Global Medical Cryogenic Storage Equipment Market Definition

Cryogenic equipment? Think super cold! It's what we use to get things down to unbelievably low temperatures, whether we're making, keeping, or just working with them. The goal is to cool things down nice and slow, so nothing gets a thermal shock. At those chilly levels, stuff like natural gases turns to liquid, and even cooler, some amazing metals lose their electrical resistance. Where's the line between regular refrigeration and cryogenics? Most folks say it's around -180 degrees Celsius. You'll find containers, pressure vessels, cold traps, purifiers, and piping as standard cryogenic gear. What's it all used for? Freezing and cooling things, speeding up chemical reactions, stuff in medical, biomedical, and chemical storage, and even metal processing.

You'll find that cryogenic storage equipment plays a crucial role in medicine. Think of hospitals, clinics, and places like disease control centers and biopharmaceutical companies – they all rely on it to keep medical gases like oxygen, carbon dioxide, nitrogen, and nitrous oxide safe and sound. These gases are vital for helping patients get better! Even your dentist and the vet use cryogenic storage, mainly for oxygen and nitrogen. Your dentist uses a mix of nitrous oxide and oxygen to help you relax, and vets use the same blend to keep animals comfortable during procedures.

Global Medical Cryogenic Storage Equipment Market Overview

The Global Medical Cryogenic Storage Equipment Market is principally driven by the increasing use of cryogenic storage equipment in healthcare as well as the medical field. In addition, developing healthcare services in emerging economies is also driving market growth. The cryogenic storage equipment is highly used in the medical field for the storage of medical gases, such as oxygen, carbon dioxide, nitrogen, and nitrous oxide. The development in metal design has emerged in the development of improved techniques for handling liquids, which is expected to fuel market growth over the forecast period.

Looking ahead, the rising use of super-cold, cryogenic tech in hospitals and medicine should really boost the market for medical cryogenic storage gear. Think about itthis equipment lets us quickly freeze vaccines and safely store vital biological samples like blood, embryos, and tissue, all helping the market grow. But, even with all these benefits, some things might hold the market back. For example, if global steel production drops, that could definitely slow things down for the Medical Cryogenic Storage Equipment Market.

One thing that might hold back the Medical Cryogenic Storage Equipment Market is how expensive it is to turn cryogenic gases into liquid. Also, let's be real, there are some safety concerns that could slow things down. I mean, these cylinders can be seriously dangerous! A full cylinder that falls and breaks its valve? Forget about it – it can become like a rocket, causing serious injury and property damage. And even if the pressure isn't super high, a leaking valve can still cause some real problems. But hey, it's not all bad news! With healthcare constantly wanting better stuff, there's a good chance we'll see some cool opportunities pop up in the market down the road.

Global Medical Cryogenic Storage Equipment MarketSegmentation Analysis

The Global Medical Cryogenic Storage Equipment Market is segmented on the basis of Application, Equipment, Type, And Geography.

Medical Cryogenic Storage Equipment Market, By Application

• Hospitals• Medical Testing Centers• Disease Control and Prevention Centers• Biopharmaceuticals• Others

Based on Application, The market is bifurcated into Hospitals, Medical Testing Centers, Disease Control and Prevention Centers, Biopharmaceuticals, and Others. The Hospitals segment of the worldwide Medical Cryogenic Storage Equipment Market is predicted to develop at the fastest rate. The rising usage of cryogenic storage equipment in hospitals for the storage of medical gases is credited with the segment’s rise. In Hospitals and clinics, these gases are critical for patient health and recovery.

Medical Cryogenic Storage Equipment Market, By Equipment

• Tanks• Valves• Vaporizers• Pumps• Others

Based on Equipment, The market is bifurcated into Tanks, Valves, Vaporizers, Pumps, and Others. During the forecast period, the Tanks segment of the Global Medical Cryogenic Storage Equipment Market is predicted to develop at the fastest rate. The increasing usage of Tanks for storing and transporting liquefied gases such as oxygen, nitrogen, and nitrous oxide is credited with the segment’s expansion. It’s usually made to hold liquid gases at temperatures below -150°C.

It has a wide range of uses in medical technology. Because of the wide range of applications in freezing, such as manufacturing, distribution, and preservation of liquefied gases, the valve category has the second biggest market share. LNG liquefaction units, gas production factories, receiving terminals, and transport systems are all places where it’s employed. The growing use of vaporizers for LNG vaporization in base-load and peak shaving in refueling operations across end-use industries is expected to propel the market forward.

Medical Cryogenic Storage Equipment Market, By Type

• Blood Refrigerators• Medical Freezers• Medical Cryopreservation Box• Liquid Nitrogen Tanks• Medical Cryogenic Storage Box• Others

Based on Type, The market is bifurcated into Blood Refrigerators, Medical Freezers, Medical Cryopreservation Box, Liquid Nitrogen Tanks, Medical Cryogenic Storage Box, and Others. Liquid Nitrogen Tanks are predicted to grow at the fastest rate in the worldwide Medical Cryogenic Storage Equipment Market since they contain a big amount of gas at moderately low pressure compared to compressed gas cylinders and are easy to handle.

Medical Cryogenic Storage Equipment Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

On the basis of Regional Analysis, The Global Medical Cryogenic Storage Equipment Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The Asia-Pacific region is expected to be the world’s fastest-growing and largest medical cryogenic storage systems industry. The growing demands and many advancements in the healthcare area are attributable to the market’s rise in this region.

Furthermore, the presence of major steel-producing countries like Japan, China, India, and South Korea would be a key element in the region’s market expansion. The demand for Cryogenic Storage Equipment in Europe is predicted to increase significantly. The increasing use of industrial gases in the steel, oil and gas, metal and mining, and manufacturing and processing industries is driving up demand for the market in Europe. The Middle East and Africa is the most important region in the oil and gas industry, with 50 percent of the world’s known conventional gas reserves.

Key Players

The “Global Medical Cryogenic Storage Equipment Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Thermo Fisher Scientific, Inc., PHC Corporation, Vestfrost Solutions, B Medical Systems, Arctiko, Helmer Scientific Inc., Eppendorf AG, Haier Biomedical, Philipp Kirsch GmbH, and So-Low Environmental Equipment Co. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• Linde plc and BASF announced a deal in February 2022. Linde plc will deliver steam and hydrogen to BASF under this agreement.

• Air Liquide teamed up with Airbus, Korean Air, and Incheon in February 2022 to create the first hydrogen usage strategy in and around Incheon Airport and assist the growth of the hydrogen ecosystem.

• In December 2021, Chart Industries partnered with Howden to develop innovative hydrogen solutions and integrate Howden’s gas compression equipment into Chart Industries’ products.

Report Scope

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Reasons to Purchase this Report

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