Storage Dewar and Dry Shipper Market Overview
Storage Dewar and Dry Shipper Market Size was estimated at 20.41 (USD Billion) in 2022. The Storage Dewar and Dry Shipper Market Industry is expected to grow from 21.37(USD Billion) in 2023 to 32.2 (USD Billion) by 2032. The Storage Dewar and Dry Shipper Market CAGR (growth rate) is expected to be around 4.67% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Storage Dewar and Dry Shipper Market Trends Highlighted
There is an increase in the need for cryogenic storage and transport systems which are mostly critical in the healthcare and research industries. There is a greater use of dry shippers in the air freight transportation of pharmaceuticals, biologics, and vaccines. There have been improvements in the concurrent refrigeration technologies and the materials for such equipment, leading to better performance and energy conservation. Increased activity within the healthcare sector and the increasing demand for cryogenic storage systems. There has been a significant improvement in the designs and materials of dry shippers to fit particular application needs. There are new developments in the fields of biotechnology and nanotechnology. Furthermore, there is a rise in the use of combination or hybrid storage systems that utilize both liquid and dry storage technologies. Increased attention to the preservation of the environment and the use of cheaper materials.
Storage Dewar and Dry Shipper Market Drivers
Growing Demand for Temperature-Controlled Logistics
One of the significant factors propelling the growth of the Storage Dewar and Dry Shipper Market Industry is the rising requirement for efficient and reliable temperature-controlled logistics. With the increasing expansion of the pharmaceutical and healthcare sectors, storing and shipping solutions need to prevent damage and contamination of temperature-sensitive products. Thus, the storage dewar and dry shipper can guarantee a controlled and stable environment for these products.
The demand for these solutions will continue to grow because the pharmaceutical and healthcare segments will only continue to extend ly.
Advancements in Technology
Technological advancements also drive the growth of the Storage Dewar and Dry Shipper Market Industry. The development of new materials and better processes for manufacturing have enabled the creation of safer and more durable storage dewars and dry shippers. The thermal performance and reliability have been thereby enhanced to the point that storage dewars and dry shippers have become highly suitable for a wide variety of applications.
Furthermore, sensors and monitoring devices integrated into these systems allow tracking the temperature and other parameters with greater precision throughout the transportation and storage phases.
Increasing Regulatory Compliance
Yet another aspect that fuels the development of the Storage Dewar and Dry Shipper Market Industry is stringent regulatory demands concerning the storage and transfer of temperature-sensitive products. Nowadays, various regulatory bodies across the globe enhance their guidelines, demanding even more of the safety and efficacy of temperature-sensitive products. Therefore, large organizations that manufacture and transfer said products increasingly use storage dewars and dry shippers to meet the newly introduced requirements and reduce the chances of the product getting spoiled or contaminated during the transfer.
Storage Dewar and Dry Shipper Market Segment Insights
Storage Dewar and Dry Shipper Market Product Type Insights
The Storage Dewar and Dry Shipper Market is segmented into two primary product types, namely Storage Dewar and Dry Shipper. The Storage Dewars are containers specifically designed to store cryogenic liquids, such as liquid nitrogen or liquid helium, at ultra-low temperatures. Such containers are mainly used in scientific research and medical applications in addition to industrial applications. These products are also known as cryogenic storage containers. On the other hand, Dry Shippers are containers specifically designed to carry temperature-sensitive materials, such as biological samples and pharmaceuticals or medical materials, under controlled temperatures.
Dry shippers are commonly used in the healthcare and pharmaceutical industries. Generally, the Storage Dewars segment generated a higher revenue share in the market. It will account for more market share throughout the forecast period due to the increasing use of cryogenic liquids across the healthcare, research, and manufacturing industries. A greater number of cryogenic technologies like cryosurgery and cryopreservation demand these containers. However, the Dry Shippers segment is also expected to grow, supported by the increasing demand for healthcare and pharmaceutical materials.
The usage of biologics in vaccines calls for temperature-controlled transportation, which will promote the sales of dry shippers. However, both segments will grow as the market for cryogenic liquids and various other materials is expected to grow across several industries.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Storage Dewar and Dry Shipper Market Capacity Insights
The Storage Dewar and Dry Shipper Market is segmented by capacity into Below 10 Liters, 10-50 Liters, 50-100 Liters, and Above 100 Liters. The 10-50 Liters segment is expected to hold the largest market share in 2023, owing to the increasing demand for mid-sized storage dewars and dry shippers for the transportation and storage of biological samples, pharmaceuticals, and other temperature-sensitive materials. The Below 10 Liters segment is also expected to witness significant growth, driven by the rising adoption of compact and portable storage dewars and dry shippers for personal use and small-scale research applications.
The 50-100 Liters and Above 100 Liters segments are projected to grow at a steady pace, supported by the growing demand for large-capacity storage solutions in the healthcare, biotechnology, and pharmaceutical industries.
Storage Dewar and Dry Shipper Market Material Insights
The Material segment of the Storage Dewar and Dry Shipper Market is segmented into Stainless Steel, Aluminum, and Composite Materials. Stainless steel is the most commonly used material in the production of storage dewars and dry shippers, owing to its durability, corrosion resistance, and ability to withstand extreme temperatures. Aluminum is another popular material, offering advantages such as lightweight and high strength. Composite materials, such as fiberglass and carbon fiber, are gaining traction due to their excellent insulation properties and resistance to impact and wear.
In 2023, the Stainless Steel segment accounted for a significant market share of around 62%, followed by Aluminum at 25% and Composite Materials at 13%. The market for Stainless Steel is expected to continue its dominance in the coming years, driven by its widespread use in the healthcare and pharmaceutical industries. Aluminum is projected to witness steady growth, while Composite Materials are anticipated to gain significant traction due to technological advancements.
Storage Dewar and Dry Shipper Market Application Insights
The Storage Dewar and Dry Shipper Market is segmented based on Application into the Biomedical Industry, Pharmaceutical Industry, Chemical Industry, and Food Industry. Among these segments, the Biomedical Industry segment is expected to hold the largest market share in 2023, owing to increasing demand for the storage and transportation of biological samples, vaccines, and other temperature-sensitive medical products. The Pharmaceutical Industry segment is also expected to witness significant growth, driven by the growing need for safe and efficient storage and transportation of pharmaceutical products.
The Chemical Industry segment is expected to hold a moderate market share due to the increasing demand for the storage and transportation of chemicals, solvents, and other hazardous materials. The Food Industry segment is expected to witness steady growth, owing to the increasing demand for storage and transportation of perishable food items and beverages.
Storage Dewar and Dry Shipper Market End-User Insights
End-user segments the Storage Dewar and Dry Shipper Market into Hospitals, Clinics, Laboratories, and Research Institutes. Hospitals held the largest market share in 2023, accounting for over 45% of the revenue. This is due to the increasing number of surgical procedures and the growing demand for cryopreservation of biological samples. Clinics are the second largest segment, with a market share of over 25%. Laboratories and Research Institutes account for the remaining market share. The Storage Dewar and Dry Shipper Market for Hospitals is expected to register a CAGR of 5.5% from 2024 to 2032, reaching a market size of USD 12.5 billion by 2032. The growth of this segment is attributed to the increasing demand for storage of vaccines, blood products, and other medical supplies.
Storage Dewar and Dry Shipper Market Regional Insights
The Storage Dewar and Dry Shipper Market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, North America is expected to hold the largest market share in 2023, owing to the presence of major market players and increasing demand for storage dewars and dry shippers in the healthcare and pharmaceutical industries. Europe is projected to be the second-largest market, followed by APAC. The APAC region is expected to witness significant growth in the coming years due to the rising demand from emerging economies such as China and India.
South America and MEA are expected to contribute a smaller share to the market. However, these regions are expected to grow at a steady pace in the coming years.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Storage Dewar and Dry Shipper Market Key Players And Competitive Insights
Major companies operating in the Storage Dewar and Dry Shipper Market are continuously engaging in the Storage Dewar and Dry Shipper Market growth via research and developments on products and new technologies. Not to mention, the leading Storage Dewar and Dry Shipper Market players are aiming to spread their geographical footprint and are also looking to dominate the market. The Storage Dewar and Dry Shipper Market competitive landscape is likely to remain intense over the coming years, with prominent companies vying to capture a substantial portion of the market share. It is important to mention that the Storage Dewar and Dry Shipper Market competitive landscape will witness numerous key developments in the Storage Dewar and Dry Shipper Market over the forthcoming years to enhance its reach and strengthen its industry chain.
Most companies would also take ample advantage of opportunities that have materialized in the Storage Dewar and Dry Shipper Market over the Storage Dewar and Dry Shipper Market forecast period. It is also likely that the Storage Dewar and Dry Shipper Market players would engage in creating awareness among consumers regarding the benefits of the product category. Strategic alliances and partnership agreements would be essential to forge a Storage Dewar and Dry Shipper Market supply chain network.
One of the known suppliers of Storage Dewar and Dry Shipper Market products and services is Thermo Fisher Scientific Inc. The company has been providing a wide range of Storage Dewar and Dry Shipper Market products, such as cryogenic storage tanks, dry shippers, and cryogenic freezers. The company also delivers additional services, such as cryogenic storage consulting, training, and technical support. The Storage Dewar and Dry Shipper Market products and services have their applications across the healthcare, life sciences, and research industries.
Another company that can also be regarded as the major provider of Storage Dewar and Dry Shipper Market in the industry is Air Liquide. The company has been offering a broad range of Storage Dewar and Dry Shipper Market products, namely cryogenic tanks, dry shippers, and cryogenic freezers. Air Liquide also provides additional services, such as cryogenic storage consulting, training, and technical support. The Storage Dewar and Dry Shipper Market operating divisions have applications across the healthcare, life sciences, and research industries.
Key Companies in the Storage Dewar and Dry Shipper Market Include
Storage Dewar and Dry Shipper Market Industry Developments
The Storage Dewar and Dry Shipper Market size is expected to reach USD 32.2 billion by 2032, exhibiting a CAGR of 4.67% during the forecast period. The market growth is attributed to the increasing demand for cryogenic storage and transportation solutions in various industries, including healthcare, biotechnology, and manufacturing. Key industry participants are focusing on product innovation and strategic partnerships to strengthen their market position. Recent developments include collaborations between manufacturers and healthcare providers to develop specialized storage and transportation solutions for sensitive medical products, such as vaccines and biologics.
Storage Dewar and Dry Shipper Market Segmentation Insights
Storage Dewar and Dry Shipper Market Product Type Outlook
- Storage Dewars
- Dry Shippers
Storage Dewar and Dry Shipper Market Capacity Outlook
- Below 10 Liters
- 10-50 Liters
- 50-100 Liters
- Above 100 Liters
Storage Dewar and Dry Shipper Market Material Outlook
Storage Dewar and Dry Shipper Market Application Outlook
- Biomedical Industry
- Pharmaceutical Industry
- Chemical Industry
- Food Industry
Storage Dewar and Dry Shipper Market End-User Outlook
- Hospitals
- Clinics
- Laboratories
- Research Institutes
Storage Dewar and Dry Shipper Market Regional Outlook
- North America
- Europe
- South America
- Asia-Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
20.41(USD Billion) |
| Market Size 2023 |
21.37(USD Billion) |
| Market Size 2032 |
32.2(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
4.67% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2022 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Messer Group, The Linde Group, Chart Industries, Praxair, Iwatani Corporation, Messer, Taiyo Nippon Sanso Corporation, Airgas, Brooks Automation, Linde plc, Worthington Industries, Matheson, Air Liquide S.A., Cryo Industries |
| Segments Covered |
Product Type, Capacity, Material, Application, End-User, Regional |
| Key Market Opportunities |
Biotechnology Healthcare and Pharmaceutical Cryogenics |
| Key Market Dynamics |
Increasing demand for biopharmaceuticals, technological advancements, government regulations, rising healthcare expenditure and growth in the logistics industry |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Storage Dewar and Dry Shipper Market is projected to register a CAGR of 4.67% from 2024 to 2032.
Key factors driving the growth of the Storage Dewar and Dry Shipper Market include increasing demand for temperature-controlled storage and transportation of biological samples, pharmaceuticals, and other sensitive materials.
Major applications of Storage Dewar And Dry Shippers include the storage and transportation of biological samples, pharmaceuticals, vaccines, and other temperature-sensitive materials.
North America is expected to hold the largest market share in the Storage Dewar And Dry Shipper Market.
Key competitors in the Storage Dewar and Dry Shipper Market include Chart Industries, Inc., Brooks Automation, Inc., and Taylor-Wharton.
Challenges faced by the Storage Dewar and Dry Shipper Market include stringent regulatory requirements and the high cost of manufacturing and maintaining storage dewars and dry shippers.
Opportunities for growth in the Storage Dewar and Dry Shipper Market include the increasing demand for temperature-controlled storage and transportation in the pharmaceutical and biotechnology industries.
Key trends in the Storage Dewar and Dry Shipper Market include the adoption of advanced technologies such as IoT and the use of sustainable materials.
The Storage Dewar and Dry Shipper Market is projected to reach USD 32.2 billion by 2032.
