Laboratory Freezers Industry Overview
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%.
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The growth of this market is driven by increasing demand for blood and blood components for transfusion and cancer treatment support. Technological advances in laboratory freezers are also driving the growth of this market.
COVID-19 Impact on the Laboratory Freezers Market
To assess the impact of COVID-19 and provide market forecasts, scenario-based approaches are considered. In the optimistic scenario, the COVID-19 pandemic has had a significantly positive long-term impact on the laboratory freezers market. Initially, as a result of lockdowns and quarantine measures, there was a dip in the lab freezers/refrigerators market in early
Laboratory Freezers Market Segmentation
The freezers segment holds the highest market share, by product, in the laboratory freezers market, in the forecast period.
the freezers segment accounted for the largest share of the laboratory freezers market. The large share of this segment can be attributed to their utility in pharmaceutical and biotechnology companies and academic and research institutes to support vaccine development and in medical laboratories and hospitals for storing test samples.
In the freezers segment, the ultra-low-temperature freezers segment is expected to grow at the highest CAGR in the forecast period.
The ultra-low-temperature freezers segment is expected to grow at the highest CAGR in the forecast period. The large share of this segment can be attributed to their utility in pharmaceutical and biotechnology companies and academic and research institutes to support vaccine development and in medical laboratories and hospitals for storing test samples.
The laboratory refrigerators segment holds the highest share in the refrigerators segment
Based on type, the refrigerators market is segmented into blood bank refrigerators, chromatography refrigerators, explosion-proof refrigerators, flammable material refrigerators, laboratory refrigerators, and pharmacy refrigerators.
North America dominated the global laboratory freezers market in 2015. The large share of this regional segment can be attributed to the presence of developed healthcare systems in the U.S. & Canada and growing R&D spending on pharmaceuticals & biotechnology in this region. However, the Asia-Pacific region is expected to register the highest growth in the coming years, due to a growth in research activities & pharmaceutical manufacturing and increasing investments by leading players and respective government agencies in emerging APAC countries.
Key Companies Profile & Market Share Insights
Key players in the Laboratory Freezers market include 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), and Antylia Scientific (US).
Thermo Fisher Scientific (US) is a leading player in the laboratory freezers market and accounted for the largest share of the market
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