The increasing demand for blood & blood components, rising government support for research activities and clinical trials, and technological advancements in freezers & refrigerators are the major factors driving the growth of the market. Untapped emerging regions are expected to offer new growth opportunities for players operating in this market in the coming years.
The global Laboratory Freezers market is projected to reach USD 3.76 Billion by 2021, at a CAGR of 4.6% from 2016 to 2021.
Laboratory Freezers Market by Product (Cryopreservation, Plasma Freezer, Explosion-Proof Freezer, Enzyme Freezer, Ultra-Low Freezer, Blood Bank Refrigerator, Pharmacy Refrigerator, Chromatography Refrigerator) & by End User – Global Forecast to 2021
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Global Laboratory Freezers Market is Segmented on:
2. End User
Laboratory Freezers Market is segmented into freezers, refrigerators, and cryopreservation systems. The freezers segment accounted for the largest share of the market in 2015, and is expected to grow at a significant CAGR during the forecast period. Technological advancements in freezers and increasing use of plasma freezers as a result of the growing demand for plasma from biopharmaceutical companies are driving the growth of this market segment.
The laboratory freezers market is segmented into hospitals, medical laboratories, pharmacies, academic & research institutes, blood banks, and pharmaceutical & biotechnology companies. The blood banks segment accounted for the largest share of the market in 2015.
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The geographical regions mapped in the report are:
1. North America
3. Asia-Pacific (APAC)
4. Latin America
4. Middle East and Africa
Geographical Growth Analysis:
The global laboratory freezers market is studied at regional and country levels. North America represented the largest regional market, followed by Europe. Although North America will continue to dominate the global market during the forecast period, the Asia-Pacific region is expected to register the highest market growth in the coming years.
Some key players mentioned in the research report are:
The major players in the global laboratory freezers market are Thermo Fisher Scientific Inc. (U.S.), Haier Biomedical (China), Eppendorf AG (Germany), Helmer Scientific (U.S.), VWR Corporation (U.S.), ARCTIKO A/S (Europe), Biomedical Solutions Inc. (U.S.), EVERmed S.R.L. (Italy), Philipp Kirsch GmbH (Germany), and Panasonic Healthcare Co., Ltd. (Japan).