Cryostat Market Size and Share Analysis by Type (Closed-Cycle, Continuous-Flow, Bath, Multi-Stage), Component (Dewars, Transfer Tubes, Gas Flow Pumps, Temperature Controllers, High-Vacuum Pumps, Microtome Blades), Cryogen (Helium, Nitrogen), Application (Healthcare, Energy & Power, Aerospace, Metallurgy, Biotechnology, Forensic Sciences, Marine Biology) - Global Industry Demand Forecast to 2030

Cryostat Market Size & Share

The global cryostat market will generate estimated revenue of USD 2,205.4 million by the end of 2023, which is expected to witness a CAGR of 5.0% during 2024–2030, reaching USD 3,047.8 million by 2030. The growth of this market can be ascribed to the advancements in various medical fields, such as MRI and tissue sampling. Essentially, the demand for cryostats is rising due to the low temperatures they create, shorter turnaround for sample freezing, and better preservation of protein antigenicity.

With the rising prevalence of infectious and neuromuscular diseases, these machines are rapidly being adopted for diagnosis, due to their ability to preserve tissue samples. Additionally, they can be utilized for examining the enzyme histochemistry. Furthermore, technical advancements have resulted in the development of cryosurgery, which is used for the treatment of cancer. This treatment is gaining attention as it does not require a long hospital stay and will replace standard therapeutic approaches. It only requires a minute incision or puncture to insert the cryoprobe to freeze the tissues, which saves patients’ time, along with offering all the usual advantages of MISs.

Many key players are heavily investing in the manufacturing of such equipment owing to the rising prevalence of chronic diseases. For instance, Healthcare Technologies has developed a cryosurgical instrument, named CryoAlfa, which can be applied in the fields of dermatology, aesthetic surgery, urogynecology, oncology, proctology, dentistry, veterinary medicine, cosmetics, chiropody, and auriculotherapy. The advantages of this equipment include a constant temperature of up to −89 degrees Celsius usage of liquid nitrogen gas, small and lightweight design, and the possibility of liquid-freezing and contact-freezing.

Additionally, for process automation and suitability for additional applications, companies offer function-rich cryostats, automation-ready consumables, sample management services, and solutions for process automation in ultra-cold environments.

Additionally, the increasing utilization of cryogenics in the power & energy and aerospace industries is expected to boost the market.

Growing Demand for Enhanced Healthcare Infrastructure in Emerging Economies

Cryostats are widely used in healthcare, such as in MRI machines and for storing tissue samples. In MRI devices, they are used to maintain a cryogen, especially helium, in a liquid state with little evaporation loss. In the era of technological advancements in the field of healthcare, modern MRI cryostats use a mechanical refrigerator to re-condense the helium gas and return it to a bath, to maintain the cryogenic condition and conserve the gas. Cryostats are also utilized to slice tissue using a microtome and then, preserve the samples for use in clinical and scientific purposes. The advantage of the cryostat-cut-frozen section is the preservation of the cell density and tissue architecture.

Moreover, these devices are essential for identifying neurological diseases and materials, especially in the case of diffusely infiltrating gliomas. Therefore, the demand for the, will increase as emerging economies increasing their expenditure on their healthcare sector. Additionally, there are other many benefits to using cryostats for sectioning rather than the standard histology microtome sectioning method, such as a reduction in the turnaround time between fixation and tissue sectioning. As a result, cryostat-cut sections are suitable for labeling several proteins with an immunofluorescence kit in the same tissue segment.

Furthermore, rapid urbanization and industrialization are being witnessed by the growing economies. In turn, the need for healthcare facilities is rising in many nations as living standards rise. Thus, over the last decade, the number of hospitals, clinics, and research centers in LMICs has risen, and many of them are heavily investing in advanced medical devices, such as mammography equipment, MRI machines, and CT scanners. Eventually, healthcare providers and companies that produce medical devices are likely to use cryostats more as the need for new, critical pieces of medical equipment grows.

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Growing Demand in Aerospace Applications

The adoption of cryostats is expanding in the aerospace industry with a race among the major developed countries to expand their national space vehicle fleets. The utilization of these machines is growing in sophisticated adiabatic demagnetization refrigerators and other essential components crucial for cooling communication devices, satellite bodies, and X-ray spectrometers.

Moreover, NASA’s Cryogenic Fluid Management (CFM) technology is an integral part of exploration systems for manned missions to Mars and the moon, transportation of equipment from the earth to the orbit, planetary exploration, and in-situ resource utilization. CFM plays a crucial role in infrared and X-ray astronomy, biological sciences, and fundamental investigation into the origins of the universe.

Continuous-Flow Cryostats Have Largest Revenue Share

Based on type, the continuous-flow category accounts for the largest revenue share, of 40%, in 2023, and it is further expected to maintain its dominance during the forecast period. Continuous-flow cryostats are rapidly being adopted for various applications over mechanical cryocoolers as they are free from vibrations and utilize liquid nitrogen gas. Moreover, these variants are not affected by power failure, as they utilize continuously circulating liquid nitrogen provided from an external tank.

Furthermore, these machines allow for an easy and safe cryogen flow. Imaging, microscopy, and high-spatial-resolution photoluminescence require low vibrations, which are only provided by these variants. Additionally, these machines provide better temperature stability and have the efficiency to quickly cool the sample, which increases the demand for them in various medical (especially diagnostics), biological, and industrial applications.

Moreover, a growing demand for continuous-flow cryostats is being seen in the aerospace industry, as this machine helps control the temperature of various pieces of equipment during high-speed and high-altitude flights, using helium. Moreover, the increasing utilization of this machine for cooling infrared sensors at research centers, medical facilities, and power plants is driving the market growth.

Dewars Will Hold Largest Market Share

Based on component, the Dewars category accounts for the largest revenue share, of 25%, in 2023, and it is further expected to maintain its dominance during the forecast period. The Dewar is one of the most-important components of a cryostat; it is used to store solid and liquid cryogens. Dewars are built of glass, stainless steel, or aluminum and comply with the implemented safety standards. A Dewar is an internal component of a cryostat, from which the cryogen flows. It generally has one or more reservoirs, which are surrounded by a vacuum jacket, which protects these reservoirs from exposure to room temperature.

The microtome blades category will display the fastest growth during the forecast timeframe, owing to the appreciable performance of these components in pathological and laboratory tests. These blades cut specimens with the desired thickness and thus, have significant applications in histology, microscopy, and spectroscopy.

Helium Holds Larger Market Share

Helium accounts for the larger revenue share, of 70%, in 2023, and it is further expected to maintain its dominance during the analysis period. This is owing to its superfluidity and lower boiling point. The rising demand for helium in its liquid form in cryostats is due to its ability to ionize and low operating temperature and pressure.

Moreover, the rising volume of processes that depend on superior semiconductors, such as magnetic resonance imaging, has driven the need for helium as a cryogen owing to its high thermal conductivity and specific heat.

North America Is Prime Revenue Contributor

North America captured the largest revenue share of the market, of around 55%, in 2023, attributed to the expanding healthcare industry, along with the advancements in diagnostic technologies. Moreover, the demand for cryostats is set to increase as a result of the growing natural gas imports into the region. Further, the surging demand for superconducting systems in the energy industry, enabled by the extensive network of natural gas pipelines for transporting helium, is contributing to the market advance.

Additionally, one of the biggest industries in the U.S. is aerospace. With U.S.-based aerospace companies supplying aircraft and defense equipment to countries around the globe, the demand for cryostats continues to burgeon in the region.

Additionally, Canada is increasingly contributing to the regional cryostat market revenue owing to the presence of many manufacturers of these systems and their various components and the growing healthcare industry, with visible enhancements in diagnostics. In this regard, the rising cases of neuromuscular diseases and cancer are driving the usage of cryostats for diagnosis in Canada.

Top Providers of Cryostats Are:

• Leica Biosystems Nussloch GmbH
• Amos Scientific Pty. Ltd.
• Advanced Research Systems Inc.
• Precision Cryogenics Systems Inc.
• Cryo Scientific Systems Pvt. Ltd.
• Precision Cryogenics Systems Inc.
• Jinhua Yidi Medical Equipment Co. Ltd.
• Bright Instrument Co. Limited
• Chase Research Cryogenics Limited
• MEDITE Medical GmbH

Market Size Breakdown by Segment

This report offers deep insights into the cryostat market, with size estimation for 2017 to 2030, the major drivers, restraints, trends and opportunities, and competitor analysis.

Based on Type

• Closed-Cycle
• Continuous-Flow
• Bath
• Multi-Stage

Based on Component

• Dewars
• Transfer Tubes
• Gas Flow Pumps
• Temperature Controllers
• High-Vacuum Pumps
• Microtome Blades

Based on Cryogen

• Helium
• Nitrogen

Based on Application

• Healthcare
• Energy & Power
• Aerospace
• Metallurgy
• Biotechnology
• Forensic Sciences
• Marine Biology

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
• Asia-Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • U.A.E.