The study, conducted by Astute Analytica, predicts tremendous revenue growth for the Global cryostat market from US$2,081.24 million in 2021 to US$3,061.82 million in 2027. The market is expected to grow at a CAGR of 6.65% during the forecast period 2022-2027. In terms of volume, the market is expected to grow at a CAGR of 5.27% during the forecast period 2022-2027.

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A cryostat is a chamber that can keep temperatures extremely low. A cryostat is used in medical laboratories to keep frozen tissue samples frozen, while a microtome, a sharp cutting device positioned in cryostats, cuts the tissue into fragments thin enough to be viewed under a microscope. The chopped portion needs to look practically translucent. In addition, developments in healthcare, aerospace and biotechnology are other important market drivers for the industry. The higher demand for cryostats is the result of increased investments combined with an increasing demand for end products. In addition, the cryogenic equipment will see significant growth due to the growing demand for natural gas along with the positive outlook for the healthcare, chemical and food industries. In addition, ongoing technological advances coupled with rapid industrialization will positively complement product penetration. Also, increasing storage demand for cryogenic gases in shipping, agriculture and metals industry will drive the scenario of cryostat industry.

On the basis of type, the continuous cryostat segment is estimated to project the largest market share and highest CAGR in the global cryostat market during the forecast period. Furthermore, the medical sector dominated the cryostat market in 2021 and is also expected to grow at the highest CAGR during the forecast period as the cryostat market is mainly driven by the healthcare industry. In addition, through regional…