Laboratory Freezers Market is Expected to Reach $5.7 billion | MarketsandMarkets.
Chicago, Oct. 10, 2023 (GLOBE NEWSWIRE) -- The laboratory freezers industry is poised for significant advancements in the near future, driven by rapid technological innovation and the growing demand for cutting-edge storage solutions in the fields of healthcare, pharmaceuticals, and scientific research. As the need for reliable temperature-controlled storage of sensitive samples and specimens continues to expand, manufacturers are expected to introduce more energy-efficient and environmentally friendly freezer models, incorporating features like advanced temperature monitoring, remote accessibility, and improved sample organization. Furthermore, the integration of smart sensors and data analytics will enable laboratories to optimize their freezer operations, reducing energy consumption and ensuring sample integrity. With these advancements on the horizon, the laboratory freezers industry is on the brink of revolutionizing sample preservation and management, facilitating groundbreaking discoveries and breakthroughs in scientific research.
*Laboratory Freezers market* in terms of revenue was estimated to be worth $4.7 billion in 2022 and is poised to reach $5.7 billion by 2026, growing at a CAGR of 6.3% from 2022 to 2026 according to a latest report published by MarketsandMarkets™. Market growth drivers include the increasing demand for blood and blood components for transfusion and for support in cancer therapy.
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*Laboratory Freezers** Market** Scope:*
*Report Coverage* *Details*
Market Revenue in 2022 $4.7 billion
Estimated Value by 2026 $5.7 billion
Growth Rate Poised to grow at a CAGR of 6.3%
Market Size Available for 2019-2026
Forecast Period 2022-2026
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Laboratory freezers Market: Products, End Users
Geographies Covered · North America
· US
· Canada
· Europe
· Germany
· France
· UK
· Italy
· Spain
· Rest of Europe(RoE)
· Asia Pacific
· China
· Japan
· India
· Rest of Asia Pacific (RoAPAC)
· Latin America
· Brazil
· Mexico
· Rest of Latin America
· Middle East & Africa
Report Highlights Updated financial information / product portfolio of players
Key Market Opportunities Vaccine development for emerging infectious diseases
Key Market Drivers Increasing demand for blood and blood components for transfusion and for support in cancer therapy
*Laboratory Freezers market major players covered in the report, such as:*
· Eppendorf AG (Germany)
· Haier Biomedical (China)
· Thermo Fisher Scientific, Inc. (US)
· Helmer Scientific (US)
· PHC Holdings Corporation (Japan)
· Liebherr (Switzerland)
· Middleby Corporation (Follett Products, LLC)
· Felix Storch, Inc. (US)
· BioLife Solutions, Inc. (Stirling Ultracold) (US)
· Blue Star Limited (India)
· B Medical Systems (Luxembourg)
· Philipp Kirsch GmbH (Germany)
· Avantor, Inc. (US)
· Standex International Corporation (US)
· Vestfrost Solutions A/S (Denmark)
· Changhong Meiling Co. Ltd. (China)
· EVERmed S.R.L. (Italy)
· ARCTIKO A/S (Denmark)
· Glen Dimplex Medical Appliances (LEC Medical) (Ireland)
· So-Low Environmental Equipment Co. Ltd. (US)
· KW Apparecchi Scientifici SRL (Italy)
· Jeio Tech (Republic of Korea)
· Refrigerated Solutions Group (US)
· Stericox India Private Limited (India)
· Thalheimer Kühlung (Germany)
· Antylia Scientific (US)
· and Among Others
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*The research report categorizes the market into the following segments and subsegments: *
*By Products*
· Freezers
· Ultra Low Temperature Freezers
· Laboratory Freezers
· Plasma Freezers
· Enzyme Freezers
· Explosion-proof Freezers
· Flammable Material Freezers
· Refrigerators
· Laboratory Refrigerators
· Blood Bank Refrigerators
· Pharmacy Refrigerators
· Flammable Material Refrigerators
· Explosion-proof Refrigerators
· Chromatography Refrigerators
· Cryopreservation Systems
*Laboratory Freezers Market, by region*
· North America
· US
· Canada
· Europe
· Germany
· France
· UK
· Italy
· Spain
· Rest of Europe (RoE)
· Asia Pacific
· China
· Japan
· India
· Rest of Asia Pacific (RoAPAC)
· Latin America
· Brazil
· Mexico
· Rest of Latin America
· Middle East & Africa
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*The key stakeholders in the Laboratory Freezers market include:*
· Manufacturers and Suppliers: These companies design, produce, and distribute laboratory freezers to the market. They play a pivotal role in determining the technology, features, and quality of the freezers available.
· Laboratories and Research Institutions: Laboratories in various fields, including healthcare, pharmaceuticals, biotechnology, and scientific research, are the primary end-users of laboratory freezers. They rely on these freezers to store sensitive samples, reagents, and specimens.
· Hospitals and Healthcare Facilities: Healthcare institutions, such as hospitals and clinics, utilize laboratory freezers for storing medical samples, vaccines, and pharmaceuticals, ensuring the safe preservation of critical materials.
· Pharmaceutical Companies: Pharmaceutical manufacturers use laboratory freezers for storing drug compounds, test samples, and clinical trial materials, contributing to drug development and quality control.
· Biotechnology Companies: Biotech firms rely on laboratory freezers to store biological materials, including DNA, RNA, proteins, and cell cultures, crucial for their research and development activities.
· Government and Regulatory Authorities: Regulatory bodies and government agencies set standards and guidelines for the storage of certain materials, including vaccines and clinical samples, influencing the demand for specialized laboratory freezers that meet compliance requirements.
· Distributors and Resellers: These entities bridge the gap between manufacturers and end-users by distributing and selling laboratory freezers to various customers. They provide valuable logistics and support services.
· Scientists and Researchers: Scientists and researchers are the individuals who work directly with laboratory freezers, making them key stakeholders as their needs and feedback drive innovation and product development.
· Environmental Organizations: Given the focus on energy efficiency and environmental impact, environmental organizations have an interest in ensuring that laboratory freezers comply with sustainability standards and regulations.
· Investors and Financial Institutions: Investors and financial institutions provide funding and capital for manufacturers and startups in the laboratory freezers industry, influencing its growth and development.
· Maintenance and Service Providers: Companies that offer maintenance, repair, and servicing of laboratory freezers play a crucial role in ensuring the continuous and reliable operation of these devices.
· Academic Institutions: Academic institutions, such as universities and research universities, utilize laboratory freezers for various research purposes, making them important stakeholders in the market.
· International Organizations: Global organizations and associations focused on science, research, and healthcare may set guidelines and standards related to laboratory freezer usage and sustainability.
These stakeholders collectively shape the laboratory freezers market, driving innovation, influencing regulations, and meeting the diverse storage needs of different industries and sectors.
*Recent Developments:*
· In March 2021, Eppendorf AG (Germany) redesigned and upgraded CryoCube F570 to be equipped with future-proof green cooling liquids, green insulation foam, and better performance.
· In March 2021, Helmer Scientific (US) launched the GX Solutions Laboratory & Plasma Freezers for vaccines, medications, blood therapies, and sample storage using the Global Warming Potential (GWP) Technology In January 2021, UnitedHealth Group (US) launched virtual primary care for employees for wellness and routine and chronic condition management.
· In June 2021, B Medical Systems (Luxembourg) partnered with Dr. Reddy’s Laboratories (India) to provide cold chain solutions for the Sputnik V vaccine roll-out in India.
· In May 2021, BioLife Solutions, Inc. (US) acquired Stirling Ultracold (US), a private manufacturer of ultra-low-temperature freezers.
· In February 2021, Follett Products, LLC. (US) entered into a partnership with PHC Corporation of North America (US) to market and sell the PHCbi line of ultra-low-temperature freezers, pharmaceutical-grade refrigerators, and biomedical freezers to Follett’s healthcare customers.
*Frequently Asked Questions (FAQs) of Laboratory Freezers Market:*
*Which are the top players in the global Laboratory Freezers market?*
The top market players in the global Laboratory Freezers market include Thermo Fisher Scientific, Inc. (US), Eppendorf AG (Germany), Haier Biomedical (China), Helmer Scientific (US), PHC Holdings Corporation (Japan), and Avantor, Inc. (US).
*Which geographical region is dominating in the Laboratory Freezers market?*
The Laboratory Freezers market is segmented into North America, Europe, Asia Pacific, and Rest of the World. North America accounted for the largest share in the Laboratory Freezers market in 2020. The large share of this regional segment can be attributed to the
*Which is the leading segment in the Laboratory Freezers market, by end user? *
The pharmaceutical and biotechnology companies segment commanded the Laboratory Freezers market, by end user, in the forecast period. The large share of this segment can be attributed to the growing research activities focused on developing vaccines and biological molecules, coupled with the growth in the manufacturing of biologics and other temperature-sensitive drugs in both developed and developing countries.
*What is the current size of the global Laboratory Freezers market?*
The laboratory freezers market is projected to reach USD 5.7 billion by 2026 from USD 4.7 billion in 2022, at a CAGR of 4.9%.
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*Report Objectives:*
· To define, describe, analyze, and forecast the size of the laboratory freezers market on the basis of service offering, end user, and region.
· To provide detailed information on the major factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
· To strategically analyze the micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market
· To forecast the size of the market segments with respect to North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
· To profile key players and comprehensively analyze their product portfolios, market positions, and core competencies.
· To track and analyze competitive developments such as product launches, expansions, partnerships, agreements, collaborations, acquisitions and other developments in the market.
· To benchmark players within the laboratory freezers market using the Competitive Leadership Mapping framework which analyzes market players on various parameters within the broad categories of business and product strategy.
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