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Liquid Nitrogen Market is projected to showcase significant growth from pharmaceutical sector

Author : Ronak Bora | Published Date : 2019-04-17 

The size of Liquid Nitrogen Market was anticipated as 10 billion in the year 2018 and is predicted to touch 17 billion till 2025, rising with a CAGR of 5.8% between the years 2018 to 2025 as per the research done by Global Market Insights, Inc.

In the pharma industry, liquid nitrogen application has gained major headway especially with the use of the product in cryoablation, a process that destroys cancer cells through freezing. Cryoablation has gained momentum over other procedures like radiofrequency ablation in the electrophysiology market mainly because of the simplicity of the procedure as well as due to successful clinical trial results which have sowed that patients are faced with fewer post-procedural complications in cryoablation.

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Cryoablation is still a technology that can be said to be in its infancy with Medtronic being one of the only players in the cryoablation space of electrophysiology market. But recently Boston Scientific announced that it will be entering the cryoablation market as well which points that competition in the cryoablation as Boston Scientific has a much stronger portfolio. With other medical device and healthcare market players looking to expand their capabilities in early stage cancer treatment, it is predictable that liquid nitrogen market will register some major growth prospects through the increasing demand of the product in the medical space.

The liquid nitrogen market has been continually expanding over the last few years, ever since nitrogen was first liquified in 1883 and its usage in industrial processes surfaced. By 2025, the value of the liquid nitrogen market is estimated to be $17 billion, which does not come as a huge surprise, given the product’s deployment in the food, healthcare, manufacturing, oil and gas and various other sectors. In regions such as Europe and North America, the liquid nitrogen industry has reached maturation as the application of LN2 in these regions is much more widespread than in regions like Asia Pacific or South America where the liquid nitrogen market is gaining ground.

The food industry is one of the major beneficiaries of the widespread usage of liquid nitrogen and the growth of food freezing over the past 30 years has in turn added to the growth of the overall liquid nitrogen market. The food industry utilizes two kinds of freezing namely cryogenic freezing where freezing is achieved with the use of liquid nitrogen and mechanical freezing, where foods are frozen using traditional freezing devices like spiral freezers, bed freezers etc. Cryogenic freezing has been garnering greater traction due to its lower capital costs and cheap production prices. Food companies have been able to lower their capital cost almost to zero while gaining large refrigeration capacity by renting cryogenic storage tanks from gas companies and buying liquid nitrogen as required.

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For the liquid nitrogen market, the oil & gas industry is one of the most prominent end-use spaces. With a commendable boost in shale oil and gas sectors in recent years and spike in hydraulic fracturing, enhanced oil recovery, which greatly involves the use of nitrogen, has witnessed revived interest adding traction to the liquid nitrogen market.

Glimpse of Table of Content (ToC)

 

Chapter 3. Liquid Nitrogen Industry Insights

3.1.  Industry segmentation

3.2.  Industry size and forecast, 2014 - 2025

3.3.  Industry ecosystem analysis

3.3.1.   Manufacturing trends

3.3.2.   Profit margin

3.3.3.   Value addition

3.3.4.   Distribution channel analysis

3.3.5.   Vendor matrix

3.3.5.1.   List of key manufacturers/distributors

3.3.5.2.   List of key end-users

3.4.  Innovation & sustainability

3.4.1.   Patent analysis

3.4.2.   Technology landscape

3.4.3.   Future trends

3.5.  Industry impact forces

3.5.1.   Growth drivers

3.5.1.1.    Strong growth indicators in pharmaceutical industry

3.5.1.2.    Increasing automobile manufacturing in Asia Pacific

3.5.1.3.    Strong product demand in rubber & plastic manufacturing

3.5.2.   Industry pitfalls & challenges

3.5.2.1.   Increasing transportation cost

3.6.  Regulatory landscape

3.6.1.   U.S.

3.6.2.   China

3.6.3.   Europe

3.7.  Growth potential analysis

3.8.  Regional price trends

3.8.1.   Cost structure analysis

3.8.1.1.   R&D cost

3.8.1.2.   Manufacturing & equipment cost

3.8.1.3.   Raw material cost

3.8.1.4.   Distribution cost

3.8.1.5.   Operating cost

3.8.1.6.   Miscellaneous cost

3.8.2.   Price by transportation

3.8.3.   Price by end-user

3.9.  Competitive landscape, 2017

3.9.1.   Company market share analysis, 2017

3.9.2.   Brand analysis

3.9.3.   Key stakeholders

3.9.4.   Strategic dashboard

3.10.   Porter’s analysis

3.10.1.   Supplier end-user

3.10.2.   Buyer end-user

3.10.3.   Threat of new entrants

3.10.4.   Threat of substitutes

3.10.5.   Industry rivalry

3.11.   PESTEL analysis

 

Browse Full TOC @ https://www.gminsights.com/toc/detail/liquid-nitrogen-market

 

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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