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Research delivers insight into the Global laboratory freezers market to reach USD 3.5 billion by 2021

Medical Market Research

The Global Laboratory Freezers Market is worth USD 2.8 billion in 2016 and estimated to grow at a CAGR of 4.8%, to reach USD 3.5 billion by 2021. The global Laboratory Freezers market is developing at an exceptionally quick pace.

Laboratory refrigerators are used to cool samples or specimens for preservation. They are refrigeration units for storing blood plasma and other blood products, vaccines and other medical and pharmaceutical supplies.

They need to be totally hygienic and completely reliable and thus differ from standard refrigerators used in homes/restaurant. There are four types of laboratory refrigerators - Explosion proof refrigerators, Blood bank refrigerators, Chromatography refrigerators and Lab fridges.

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The significant drivers for Laboratory Freezers market are rising geriatric population, technical augmentation, infrastructural upgradation in healthcare facilities and research laboratories, and rise in medical tourism will drive the global biomedical refrigerators and freezers market size. Developments in regenerative medication, drug discovery and bio-banking techniques coupled with increasing research activities in the field of biomedical sciences should boost the development of advanced products.

Existence of big number of local players providing cheaper refurbished equipment, maintenance costs and energy costs of biomedical refrigerators and freezers limit this industry.

The Global market for Laboratory Freezers is segmented on the basis of Product, end user and region. Based on product, the market is segmented into Ultra-Low Freezer, Blood Bank Refrigerator, Pharmacy Refrigerator, Cryopreservation, Plasma Freezer, Explosion-Proof Freezer, Enzyme Freezer, and Chromatography Refrigerator.

Based on end user, the market is segmented into hospitals, medical laboratories, pharmacies, blood banks, academic & research institutes, and pharmaceutical and biotechnology companies. Blood bank refrigerators were most valued in 2016, because of rising government expenditure, growing number of surgical procedures and rising demand for blood bank refrigerators in scientific, medical and research sectors.

Laboratory refrigerators, freezers and ultra-low temperature freezers are also expected to witness substantial growth during the forecast period.

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Geographically, the Laboratory Freezers market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East Asia. North America is estimated to constitute the largest share in this market, while the Asia Pacific region is expected to witness the fastest growth and overtake North America, being the second largest shareholder for the market during the forecast period.

VWR Corporation (U.S.), ARCTIKO A/S (Europe), Biomedical Solutions Inc. (U.S.), EVERmed S.R.L. (Italy), Philipp Kirsch GmbH (Germany), Thermo Fisher Scientific Inc. (U.S.), Haier Biomedical (China), Eppendorf AG (Germany), Helmer Scientific (U.S.), and Panasonic Healthcare Co., Ltd. (Japan).are the leaders in the global Laboratory Freezers market.

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