The report “Laboratory Freezers Market” by Product (Freezers, Refrigerators, Cryopreservation Systems), by End User (Blood Banks, Pharmaceutical & Biotechnology Companies, Academic & Research Institutes, Medical Laboratories, Hospitals , Pharmacies , and Others) and by region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America) is expected to reach US$ 4.29 Bn by 2026, at a CAGR of 4.6 % during a forecast period.
Laboratory freezers are electrical devices used to store chemicals, and important reagents used in medical laboratory, pharmaceutical industries and blood banks. There are different type of freezers like plasma freezers, Ultra-low Temperature Freezers, enzyme freezers, Flammable Material and Explosion-Proof Freezers. The growth in the market is also poised to benefit advancement in technology innovation and the ensuing launch of energy efficient refrigerators and oven with different designs, and microprocessor PID control.
Toxic and flammable material and explosion-proof freezers are safe for storage of the flammable and volatile materials to prevent from the explosion. These are designed as per the US Pharmacopeia standards for drug storage as well as NFPA and OSHA standards. While plasma freezers are designed are per the FDA, ANRC and AABB.
Rising number of organs transplant process is the leading reason that has focused the growth of the global market. Further, growing demand for blood components and blood is also boosting the growth of the global laboratory freezers market during the forecast period. Additionally, factors such as increasing use of refurbished equipment is the foremost reason hindering the growth of global laboratory freezers market. Strong pricing pressure on key players is one of the reasons that are decreasing the growth of the global market.
Freezers segment are rapidly increasing during the forecast period.
The freezers segment holds the largest share of the market in 2017, and is likely to grow at a significant CAGR during the forecast period. Technological advancements and innovation in freezers and increasing use of plasma freezers, and enzyme freezers as a result of the growing demand for plasma from biopharmaceutical companies are driving the growth of this market segment. The plasma freezers segment in freezers segment market is expected to dominate the biomedical freezers industry during the forecast period. This is due to the increase in number of apheresis procedures and increase in demand for the storage of fresh frozen plasma. These freezers with new technology advancement effectively reduce energy consumption, prevent crystallization and even minimize temperature.
This is expected to boost the use of freezers in the market during the forecast period.
The Laboratory Freezers Market in North America region is expected to hold the largest share during the forecast period.
North America is estimated the largest share in this market, while the APAC region is likely to witness the fastest growth and overtake North America, being the second largest shareholder for the market during the forecast timeframe.
Key players operating in the global laboratory freezers market are Thermo Fisher Scientific Inc., Haier Biomedical, Eppendorf AG, Helmer Scientific, VWR Corporation, ARCTIKO A/S, Biomedical Solutions Inc., VERmed S.R.L., Philipp Kirsch GmbH, and Panasonic Healthcare Co., Ltd. Key players and manufactures are focusing on entering the new market by producing and launching technically advance and cost-effective products in the market. Production capacity expansion, brand portfolio expansion, mergers, collaborations, joint ventures and acquisitions of innovative businesses is the key trend to foot hold and penetrate market.
Maximize market research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about global laboratory freezers market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for taking in product strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global laboratory freezers market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global laboratory freezers market positioning of competitors.
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