[250 Pages Report] According to the study, the global cryogenic boxes market is expected to grow at a CAGR of 7.3% between 2022 and 2032. The market value is projected to increase from US$ 326.2 Mn in 2022 to US$ 657.3 Mn by 2032. The cryogenic boxes market was valued at US$ 305 Mn at the end of 2021 and is anticipated to exhibit Y-o-Y growth of 7.0% in 2022
| Attribute | Details |
|---|---|
| Global Cryogenic Boxes Market Size (2022E) | US$ 326.2 Million |
| Projected Market Size (2032F) | US$ 657.3 Million |
| Value CAGR (2022 to 2032) | 7.3% |
| Top 3 Countries Market Share | 34.5% |
Newly released data from cryogenic boxes market analysis shows that global demand of overall plastic cryogenic boxes enjoyed year-on-year (YoY) growth of 6.8% in 2021. This growth is attributed to unprecedented outbreak of COVID-19 across the globe.
The need of cryogenic boxes exponentially increased for the transportation of COVID-19 vaccine vials, syringes, and several other healthcare products. Over the coming decade, the consumption of paper & paperboard based cryogenic boxes is estimated to increase at a growth rate of 8% amid rising sustainability concerns.
The consumption of cryogenic boxes in healthcare industry witnessed robust growth in 2021 with worldwide revenues up 12.6% year over year. A new forecast by Future Market Insights (FMI) estimates that cryogenic boxes revenues in the healthcare industry will nearly double between 2022 and 2032.
It is expected to reach a valuation of nearly US$ 309 Mn in 2032 with a ten-year compound annual growth rate (CAGR) of 8%. Regionally, in 2021, the U.S cryogenic boxes market grew by 5.5% year on year, the total demand/sales of cryogenic boxes in North America reached US$ 82.4 Mn.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
During the historic period (2015-2021), the cryogenic boxes market grew at a CAGR of 5.5% and valued at US$ 305 Mn in 2021. However, with the increase in manufacturing of vaccine and cosmetic products, the global market is estimated to increase 2.2x over the next decade.
Cryogenic boxes are used to store and transport organic material at ultra-low temperatures for short or long period of time. It is designed to keep cryogenic vials and tubes safe, utilizing modern technologies and products to give a boost to the cryogenic box market. Various market participants and product innovations helped to increase market penetration during this time period.
The market for cryogenic boxes observed exponential growth following the outbreak of COVID-19. Growth is also due to increasing research into better vaccine development, introduction of antiviral medications, and immunity-boosting shots.
Furthermore, increasing demand owing to non-fragile lab applications is another driving the cryogenic boxes market. Application of cryogenic boxes in healthcare sector is expected to create significant revenue creating opportunities for the manufacturers.
The biopharmaceutical sector is gaining immense traction in the pharmaceutical industry, and it has the potential to grow rapidly in the next years. Disruptive technologies, digitization, and a comprehensive approach to the treatment of incurable diseases are some of the factors boosting the market.
With the expansion of biopharmaceutical industry, cryogenic box applications are expected to surge. Cryovials could be utilized to store cancer, HIV, and Alzheimer's disease medications. According to the Pharmaceutical Research and Manufacturers of America (PhRMA), the biopharmaceutical business in the United States accounted for 3.2 percent of total GDP in 2017, with a value of US$ 625 billion. This is further expected to increase the sales of cryogenic boxes in upcoming decade.
Principal Consultant
The cryogenic boxes demand is increasing for storing and transporting vaccines, chemicals, and various other ingredients in different packaging formats such as vials, ampoules, and tubes. The demand for cryogenic boxes for storing powder or liquid ingredient in vials is surging across the globe.
However, due to increasing clinical research and drug research in India, the demand for cryogenic boxes for storing tubes is expected to rise in South Asia. As per FMI, South Asia market is expected to hold a market share of 44% during the forecast period.
Consumption and sales of cryogenic boxes in ampoules segment is estimated to hold a varying market share between 10-15% in all regions. Although this consist of low market share in Europe, it is expected to increase with the significant pace in 2022-2032.
Presence of Leading Cryogenic Boxes Manufacturers in the U.S. to Push the Sales
The U.S. is considered to have the lowest market barriers to new market entrants in the pharmaceutical industry. It also has the most favorable business climate for the research and sale of pharmaceutical equipment and medications.
According to FMI, the U.S. will reach a valuation of US$ 73 Mn in 2022, accounting for about 23% of the worldwide cryogenic box market.
As per the annual report published by Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, Government of India, India pharmaceutical industry is the world’s third largest by volume and 14th largest by value.
India is the largest provider of generic drugs globally. India supplies affordable and low-cost generic drugs to millions of people across the globe and operates a significant number of United States Food and Drug Administration (USFDA) and World Health Organization (WHO) Good Manufacturing Practices (GMP)-compliant plants.
India accounts for 60% of global vaccine production, contributing 40 to 70% of the WHO demand for Diphtheria, Tetanus and Pertussis (DPT) and Bacillus Calmette–Guérin (BCG) vaccines, and 90 percent of the WHO demand for the measles vaccine.
FMI team predicts that increasing exports and imports of vaccines and many other ingredients expected to create US$ 28.3 Mn revenue opportunity in next decade.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Growing Sustainability Concerns to Spur the Sales of Paper & Paperboard Cryogenic Boxes
Plastic cryogenic box accounts for over 50% of the whole cryogenic box market, according to FMI. Demand for plastic cryogenic boxes in humid areas for protection against rain, dampness, as well as other liquid contents, is increasing.
However, paper & paperboard cryogenic boxes are gaining traction due to the easy biodegradable property of paper & paperboard cryogenic box and government restrictions also prohibit the use of plastic cryogenic box in various countries.
Cryogenic Boxes Market to Benefit from Rising Application in Healthcare Industry
Among the end-use, healthcare accounted for the largest share in 2021 and is poised to maintain its reign during the forecast period. Healthcare is expected to accelerate with a CAGR of 8% in the global market is expected to attract investors.
As per the report published by World Health Organization, global spending on health more than doubled in real terms over the past two decades, reaching US$ 8.5 trillion in 2019, or 9.8% of global GDP.
With big global and local competitors, the cryogenic box market is fiercely competitive. Customers can choose their sizes thanks to the market's leading companies. Cryogenic box lids are also being innovated by several manufacturers in order to gain market share.
Market shares are projected to change as a result of overall innovation in material, size, and appearance. Some of the market's major companies are Tarsons, Thermo Fisher Scientific Inc., Cole-Parmer Instrument Company, LLC, Merck KGaA, ratiolab, BIOLOGIX GROUP LTD, Heathrow Scientific, Bioline Technologies, TENAK A/S, Deluxe Scientific Surgico Private Limited, CAPP, GENAXXON bioscience, Glassco, AHN Biotechnologie GmbH
Some of the key developments:
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2015 to 2021 |
| Market Analysis | US$ Million for Value and Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; and the Middle East & Africa |
| Key Countries Covered | USA, Brazil, Mexico, Germany, UK, China, India, Japan, Australia, and GCC Countries |
| Key Segments Covered | Material, Application, End Use Industry, Region |
| Key Companies Profiled | Tarsons; Thermo Fisher Scientific Inc.; Cole-Parmer Instrument Company; LLC, Merck KGaA, ratiolab; BIOLOGIX GROUP LTD; Heathrow Scientific; Bioline Technologies; TENAK A/S; Deluxe Scientific Surgico Private Limited; CAPP; GENAXXON bioscience; Glassco; AHN Biotechnologie GmbH |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The cryogenic boxes market was valued at US $ 305 Mn in 2021, and it is expected to grow at a CAGR of 7.3% from 2022 to 2032.
During the forecast period, plastic cryogenic boxes are estimated to grow at the fastest rate. However, paper & paperboard cryogenic boxes will gain traction on the back of rising sustainability concerns across the globe.
India is expected to reflect an incremental growth of 2.2x during the forecast period.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand Side Trends 1.3. Supply Side Trends 1.4. Technology Roadmap 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Key Market Trends 3.1. Key Trends Impacting the Market 3.2. Product Innovation / Development Trends 4. Key Success Factors 4.1. Product Adoption / Usage Analysis 4.2. Product USPs / Features 4.3. Strategic Promotional Strategies 5. Cryogenic Boxes Market Demand Analysis 2015–2021 and Forecast, 2022–2032 5.1. Historical Market Volume (Mn Units) Analysis, 2015–2021 5.2. Current and Future Market Volume (Mn Units) Projections, 2022–2032 5.3. Y-o-Y Growth Trend Analysis 6. Cryogenic Boxes Market - Pricing Analysis 6.1. Regional Pricing Analysis 6.2. Global Average Pricing Analysis Benchmark 7. Cryogenic Boxes Market Demand (in Value or Size in US$ Mn) Analysis 2015–2021 and Forecast, 2022–2032 7.1. Historical Market Value (US$ Mn) Analysis, 2015–2021 7.2. Current and Future Market Value (US$ Mn) Projections, 2022–2032 7.2.1. Y-o-Y Growth Trend Analysis 7.2.2. Absolute $ Opportunity Analysis 8. Market Background 8.1. Global Packaging Market Outlook 8.2. Global Rigid Packaging Market Outlook 8.3. Global Cold Chain Packaging Market Outlook 8.4. Macro-Economic Factors 8.5. Forecast Factors - Relevance & Impact 8.6. Value Chain 8.6.1. Raw Material Suppliers 8.6.2. Cryogenic Boxes Manufacturers 8.6.3. End Users / Brand Owners 8.7. COVID-19 Crisis – Impact Assessment 8.7.1. Current Statistics 8.7.2. Short-Mid-Long Term Outlook 8.7.3. Likely Rebound 8.8. Market Dynamics 8.8.1. Drivers 8.8.2. Restraints 8.8.3. Opportunity Analysis 8.9. Supply Demand Analysis 9. Global Cryogenic Boxes Market Analysis 2015–2021 and Forecast 2022–2032, By Material 9.1. Introduction / Key Findings 9.2. Historical Market Size (US$ Mn) and Volume Analysis, by Material, 2015–2021 9.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast, by Material, 2022–2032 9.3.1. Paper & Paperboard Cryogenic Boxes 9.3.2. Plastic Cryogenic Boxes 9.3.3. Metal 9.4. Market Attractiveness Analysis, by Material 10. Global Cryogenic Boxes Market Analysis 2015–2021 and Forecast 2022–2032, By Application 10.1. Introduction / Key Findings 10.2. Historical Market Size (US$ Mn) and Volume Analysis, by Application, 2015–2021 10.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast, by Application, 2022–2032 10.3.1. Vials 10.3.2. Ampoules 10.3.3. Tubes 10.4. Market Attractiveness Analysis, by Application 11. Global Cryogenic Boxes Market Analysis 2015–2021 and Forecast 2022–2032, By End Use 11.1. Introduction / Key Findings 11.2. Historical Market Size (US$ Mn) and Volume Analysis, by End Use, 2015–2021 11.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast, by End Use, 2022–2032 11.3.1. Chemical 11.3.2. Healthcare 11.3.3. Personal Care 11.4. Market Attractiveness Analysis, by End Use 12. Global Cryogenic Boxes Market Analysis 2015–2021 and Forecast 2022–2032, by Region 12.1. Introduction / Key Findings 12.2. Historical Market Size (US$ Mn) and Volume Analysis, by Region, 2015–2021 12.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast, by Region, 2022–2032 12.3.1. North America 12.3.2. Latin America 12.3.3. Europe 12.3.4. Middle East and Africa (MEA) 12.3.5. East Asia 12.3.6. South Asia 12.3.7. Oceania 12.4. Market Attractiveness Analysis, by Region 13. North America Cryogenic Boxes Market Analysis 2015–2021 and Forecast 2022–2032 13.1. Introduction / Key Findings 13.2. Historical Market Size (US$ Mn) and Volume (Mn Units) Analysis, by Market Taxonomy, 2015–2021 13.3. Current Market Size (US$ Mn) and Volume (Mn Units) Analysis and Forecast, by Market Taxonomy, 2022–2032 13.3.1. By Country 13.3.1.1. U.S. 13.3.1.2. Canada 13.3.2. By Material 13.3.3. By Application 13.3.4. By End Use 13.4. Market Attractiveness Analysis 13.4.1. By Country 13.4.2. By Material 13.4.3. By Application 13.4.4. By End Use 14. Latin America Cryogenic Boxes Market Analysis 2015–2021 and Forecast 2022–2032 14.1. Introduction / Key Findings 14.2. Historical Market Size (US$ Mn) and Volume (Mn Units) Analysis, by Market Taxonomy, 2015–2021 14.3. Current Market Size (US$ Mn) and Volume (Mn Units) Analysis and Forecast, by Market Taxonomy, 2022–2032 14.3.1. By Country 14.3.1.1. Brazil 14.3.1.2. Mexico 14.3.1.3. Argentina 14.3.1.4. Rest of Latin America 14.3.2. By Material 14.3.3. By Application 14.3.4. By End Use 14.4. Market Attractiveness Analysis 14.4.1. By Country 14.4.2. By Material 14.4.3. By Application 14.4.4. By End Use 15. Europe Cryogenic Boxes Market Analysis 2015–2021 and Forecast 2022–2032 15.1. Introduction / Key Findings 15.2. Historical Market Size (US$ Mn) and Volume (Mn Units) Analysis, by Market Taxonomy, 2015–2021 15.3. Current Market Size (US$ Mn) and Volume (Mn Units) Analysis and Forecast, by Market Taxonomy, 2022–2032 15.3.1. By Country 15.3.1.1. Germany 15.3.1.2. Italy 15.3.1.3. France 15.3.1.4. U.K. 15.3.1.5. Spain 15.3.1.6. BENELUX 15.3.1.7. Nordic 15.3.1.8. Russia 15.3.1.9. Poland 15.3.1.10. Rest of Europe 15.3.2. By Material 15.3.3. By Application 15.3.4. By End Use 15.4. Market Attractiveness Analysis 15.4.1. By Country 15.4.2. By Material 15.4.3. By Application 15.4.4. By End Use 16. Middle East & Africa Cryogenic Boxes Market Analysis 2015–2021 and Forecast 2022–2032 16.1. Introduction / Key Findings 16.2. Historical Market Size (US$ Mn) and Volume (Mn Units) Analysis, by Market Taxonomy, 2015–2021 16.3. Current Market Size (US$ Mn) and Volume (Mn Units) Analysis and Forecast, by Market Taxonomy, 2022–2032 16.3.1. By Country 16.3.1.1. GCC Countries 16.3.1.2. Turkey 16.3.1.3. Northern Africa 16.3.1.4. South Africa 16.3.1.5. Rest of Middle East and Africa 16.3.2. By Material 16.3.3. By Application 16.3.4. By End Use 16.4. Market Attractiveness Analysis 16.4.1. By Country 16.4.2. By Material 16.4.3. By Application 16.4.4. By End Use 17. East Asia Cryogenic Boxes Market Analysis 2015–2021 and Forecast 2022–2032 17.1. Introduction / Key Findings 17.2. Historical Market Size (US$ Mn) and Volume (Mn Units) Analysis, by Market Taxonomy, 2015–2021 17.3. Current Market Size (US$ Mn) and Volume (Mn Units) Analysis and Forecast, by Market Taxonomy, 2022–2032 17.3.1. By Country 17.3.1.1. China 17.3.1.2. Japan 17.3.1.3. South Korea 17.3.2. By Material 17.3.3. By Application 17.3.4. By End Use 17.4. Market Attractiveness Analysis 17.4.1. By Country 17.4.2. By Material 17.4.3. By Application 17.4.4. By End Use 18. South Asia Cryogenic Boxes Market Analysis 2015–2021 and Forecast 2022–2032 18.1. Introduction / Key Findings 18.2. Historical Market Size (US$ Mn) and Volume (Mn Units) Analysis, by Market Taxonomy, 2015–2021 18.3. Current Market Size (US$ Mn) and Volume (Mn Units) Analysis and Forecast, by Market Taxonomy, 2022–2032 18.3.1. By Country 18.3.1.1. India 18.3.1.2. Thailand 18.3.1.3. Indonesia 18.3.1.4. Malaysia 18.3.1.5. Rest of South Asia 18.3.2. By Material 18.3.3. By Application 18.3.4. By End Use 18.4. Market Attractiveness Analysis 18.4.1. By Country 18.4.2. By Material 18.4.3. By Application 18.4.4. By End Use 19. Oceania Cryogenic Boxes Market Analysis 2015–2021 and Forecast 2022–2032 19.1. Introduction / Key Findings 19.2. Historical Market Size (US$ Mn) and Volume (Mn Units) Analysis, by Market Taxonomy, 2015–2021 19.3. Current Market Size (US$ Mn) and Volume (Mn Units) Analysis and Forecast, by Market Taxonomy, 2022–2032 19.3.1. By Country 19.3.1.1. Australia 19.3.1.2. New Zealand 19.3.2. By Material 19.3.3. By Application 19.3.4. By End Use 19.4. Market Attractiveness Analysis 19.4.1. By Country 19.4.2. By Material 19.4.3. By Application 19.4.4. By End Use 20. Country wise Cryogenic Boxes Market Analysis 20.1. United States (US) Cryogenic Boxes Market Analysis 20.1.1. By Material 20.1.2. By Application 20.1.3. By End Use 20.2. Canada Cryogenic Boxes Market Analysis 20.2.1. By Material 20.2.2. By Application 20.2.3. By End Use 20.3. Brazil Cryogenic Boxes Market Analysis 20.3.1. By Material 20.3.2. By Application 20.3.3. By End Use 20.4. Mexico Cryogenic Boxes Market Analysis 20.4.1. By Material 20.4.2. By Application 20.4.3. By End Use 20.5. Germany Cryogenic Boxes Market Analysis 20.5.1. By Material 20.5.2. By Application 20.5.3. By End Use 20.6. Italy Cryogenic Boxes Market Analysis 20.6.1. By Material 20.6.2. By Application 20.6.3. By End Use 20.7. France Cryogenic Boxes Market Analysis 20.7.1. By Material 20.7.2. By Application 20.7.3. By End Use 20.8. U.K. Cryogenic Boxes Market Analysis 20.8.1. By Material 20.8.2. By Application 20.8.3. By End Use 20.9. Spain Cryogenic Boxes Market Analysis 20.9.1. By Material 20.9.2. By Application 20.9.3. By End Use 20.10. Russia Cryogenic Boxes Market Analysis 20.10.1. By Material 20.10.2. By Application 20.10.3. By End Use 20.11. China Cryogenic Boxes Market Analysis 20.11.1. By Material 20.11.2. By Application 20.11.3. By End Use 20.12. Japan Cryogenic Boxes Market Analysis 20.12.1. By Application 20.12.2. By Material 20.12.3. By End Use 20.13. India Cryogenic Boxes Market Analysis 20.13.1. By Material 20.13.2. By Application 20.13.3. By End Use 20.14. GCC Countries Cryogenic Boxes Market Analysis 20.14.1. By Material 20.14.2. By Application 20.14.3. By End Use 20.15. Australia Cryogenic Boxes Market Analysis 20.15.1. By Material 20.15.2. By Application 20.15.3. By End Use 21. Market Structure Analysis 21.1. Market Analysis, by Tier of Companies (Cryogenic Boxes ) 21.2. Market Share Analysis of Top Players 21.3. Market Presence Analysis 22. Competition Analysis 22.1. Competition Dashboard 22.2. Competition Benchmarking 22.3. Competition Deep Dive 22.3.1. Tarsons 22.3.1.1. Overview 22.3.1.2. Product Portfolio 22.3.1.3. Profitability by Market Segments (Product/Channel/Region) 22.3.1.4. Sales Footprint 22.3.1.5. Strategy Overview 22.3.2. Thermo Fisher Scientific Inc. 22.3.2.1. Overview 22.3.2.2. Product Portfolio 22.3.2.3. Profitability by Market Segments (Product/Channel/Region) 22.3.2.4. Sales Footprint 22.3.2.5. Strategy Overview 22.3.3. Cole-Parmer Instrument Company, LLC 22.3.3.1. Overview 22.3.3.2. Product Portfolio 22.3.3.3. Profitability by Market Segments (Product/Channel/Region) 22.3.3.4. Sales Footprint 22.3.3.5. Strategy Overview 22.3.4. Merck KGaA 22.3.4.1. Overview 22.3.4.2. Product Portfolio 22.3.4.3. Profitability by Market Segments (Product/Channel/Region) 22.3.4.4. Sales Footprint 22.3.4.5. Strategy Overview 22.3.5. Ratiolab 22.3.5.1. Overview 22.3.5.2. Product Portfolio 22.3.5.3. Profitability by Market Segments (Product/Channel/Region) 22.3.5.4. Sales Footprint 22.3.5.5. Strategy Overview 22.3.6. BIOLOGIX GROUP LTD 22.3.6.1. Overview 22.3.6.2. Product Portfolio 22.3.6.3. Profitability by Market Segments (Product/Channel/Region) 22.3.6.4. Sales Footprint 22.3.6.5. Strategy Overview 22.3.7. Heathrow Scientific 22.3.7.1. Overview 22.3.7.2. Product Portfolio 22.3.7.3. Profitability by Market Segments (Product/Channel/Region) 22.3.7.4. Sales Footprint 22.3.7.5. Strategy Overview 22.3.8. Bioline Technologies 22.3.8.1. Overview 22.3.8.2. Product Portfolio 22.3.8.3. Profitability by Market Segments (Product/Channel/Region) 22.3.8.4. Sales Footprint 22.3.8.5. Strategy Overview 22.3.9. TENAK A/S 22.3.9.1. Overview 22.3.9.2. Product Portfolio 22.3.9.3. Profitability by Market Segments (Product/Channel/Region) 22.3.9.4. Sales Footprint 22.3.9.5. Strategy Overview 22.3.10. Deluxe Scientific Surgico Private Limited 22.3.10.1. Overview 22.3.10.2. Product Portfolio 22.3.10.3. Profitability by Market Segments (Product/Channel/Region) 22.3.10.4. Sales Footprint 22.3.10.5. Strategy Overview 22.3.11. CAPP 22.3.11.1. Overview 22.3.11.2. Product Portfolio 22.3.11.3. Profitability by Market Segments (Product/Channel/Region) 22.3.11.4. Sales Footprint 22.3.11.5. Strategy Overview 22.3.12. Eppendorf SE 22.3.12.1. Overview 22.3.12.2. Product Portfolio 22.3.12.3. Profitability by Market Segments (Product/Channel/Region) 22.3.12.4. Sales Footprint 22.3.12.5. Strategy Overview 22.3.13. GENAXXON bioscience 22.3.13.1. Overview 22.3.13.2. Product Portfolio 22.3.13.3. Profitability by Market Segments (Product/Channel/Region) 22.3.13.4. Sales Footprint 22.3.13.5. Strategy Overview 22.3.14. Glassco 22.3.14.1. Overview 22.3.14.2. Product Portfolio 22.3.14.3. Profitability by Market Segments (Product/Channel/Region) 22.3.14.4. Sales Footprint 22.3.14.5. Strategy Overview 22.3.15. AHN Biotechnologie GmbH 22.3.15.1. Overview 22.3.15.2. Product Portfolio 22.3.15.3. Profitability by Market Segments (Product/Channel/Region) 22.3.15.4. Sales Footprint 22.3.15.5. Strategy Overview 23. Assumptions and Acronyms Used 24. Research Methodology
Explore Packaging Insights
View Reports
Cryogenic Boxes Market
