The global 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%. Growth in the market is driven by the increasing demand for blood and blood components for transfusion and for support in cancer therapy.
Laboratory Freezers Market Insight:
Laboratory Freezers market size, segment size (primarily including product type, application, and geography), competitor analysis, recent status, and development trends are all covered in this research. The study also includes a full cost analysis and supply chain. Technological advancements will improve the product’s performance even more, allowing it to be utilized in additional downstream applications. Furthermore, understanding the Laboratory Freezers market requires a thorough understanding of consumer behaviour and market dynamics (drivers, restraints, and opportunities).
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Global Laboratory Freezers Market Vendor Analysis
The laboratory freezers market has shown a significant rise in demand in 2020 and 2021 due to the utility of these products for appropriate temperature-controlled storage of COVID-19 vaccines. This demand is expected to decline after 2021 and remain steady from 2022, fueled by pre-pandemic growth drivers. However, the laboratory freezers market during 2022–2026 may show growth if booster doses of COVID-19 vaccines are made mandatory during the forecast period. The market growth is restrained by the growing use of refurbished laboratory freezers. In this report, the global lab freezers market is segmented by product, end user, and region.
The global laboratory freezers market is fairly consolidated. Prominent players in the laboratory freezers market include Eppendorf AG (Germany), Haier Biomedical (China), Thermo Fisher Scientific, Inc. (US), Helmer Scientific (US), and PHC Holdings Corporation (Japan). Companies in the laboratory freezers market adopted strategies such as partnerships, agreements, acquisitions, product launches & upgrades as well as expansions to enhance their presence in the laboratory freezers market.
Thermo Fisher Scientific (US) is a leading player in the laboratory freezers market and accounted for the largest share of the market. The company’s products in the laboratory freezers market include laboratory refrigerators, cryopreservation systems, ultra-low-temperature freezers, flammable materials refrigerator, explosion-proof refrigerators, and chromatography refrigerators. In June 2020, the company launched the upgraded TSX Series of ultra-low-temperature freezers to include additional functionalities to deliver environmentally sustainable protection of materials
Haier Biomedical (US) is one of the prominent players in the laboratory freezers market. It is one of the leading manufacturers of durable goods throughout the globe. Haier Biomedical is engaged in designing, manufacturing, and marketing quality laboratory equipment and refrigerated products for the life science and clinical industry. The company’s products include cryopreservation systems, ultra-low-temperature freezers, laboratory refrigerators, laboratory freezers, pharmacy refrigerators, and vaccine refrigerators.
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