The global cryostat market is projected to witness a compound annual growth rate of 5.48% during the forecast period to reach a total market size of US$2.470 billion by 2023, increasing from US$1.793 billion in 2017. Healthcare, metallurgy, energy & power, and aerospace are the major industries that are driving the growth of cryostats market. With the ongoing research & development in all these key industries, the demand for cryostats is expected to surge during the projected period. Healthcare industry has witnessed the highest usage of cryostats with their application in a wide range of advanced technologies. While North America holds the largest market share in global cryostats market, Asia-Pacific is expected to show the highest CAGR during the forecast period. The emerging economies of Asia-Pacific region like China, India, and Japan are predicted to be some of the very high-potential markets for cryostats in the next five years.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the Cryostat value chain. Last step involves complete market engineering which includes analysing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Major industry players profiled as part of the report are Cryomech, Inc., Advanced Mechanical and Optical Systems, Advanced Research Systems and Leica Biosystems Nussloch GmbH among others.
The Global Cryostat market has been analysed through following segments:
Gas Flow Pumps
High Vacuum Pumps
Energy & Power
Europe Middle East and Africa