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The Laboratory Freezers Market was valued at USD 4.97 Billion in 2023 and is projected to reach USD 7.88 Billion by 2032, growing at a compound annual growth rate (CAGR) of 5.31% from 2024 to 2032.
Many blood banks, academic institutions, pharmaceutical and biotechnological corporations, and others utilize laboratory freezers to store medical equipment, devices, organs, and other items. Thermal insulation technology is used in laboratory freezers to assist maintain a cold environment by converting heat from the surrounding environment.
One of the primary drivers driving the market's growth is an increase in public-private funding for target research initiatives, combined with an increase in the prevalence of infections. Another factor driving market expansion is the increasing demand for organ transplant treatments.
Increasing technological progress and innovation of new medical devices and instruments, an increase in the number of product launches, increased government support for research and testing, rising government funding, and the real potential of emerging markets will all contribute to lucrative market growth opportunities.
DRIVERS
The need for blood and blood components is increasing.
RESTRAINTS
Refurbished laboratory freezers are becoming increasingly popular.
OPPORTUNITIES
Developing vaccines for new infectious illnesses
CHALLENGES
Lack of knowledge about the importance of specialist laboratory freezers and refrigerators
There is a continuing slowdown in the healthcare business due to the global epidemic of COVID-19 and the forced lockout. The primary players were considering how to modify their strategy to the quickly changing circumstances. COVID-19 is projected to have substantial long-term consequences for the healthcare business, which is bad news. Countries and important actors would be forced to make significant healthcare changes until the situation is resolved. In the not-too-distant future, technological advancements, cost containment, and expanded access will all be part of healthcare reform. However, because many healthcare providers are experimenting with video conferencing and phone calls, this segment's growth will skyrocket in the next two years.
COVID-19 is thought to have had a rather beneficial and possibly long-term impact on the laboratory freezers market. Even if the COVID-19 vaccine proves successful without the need for repeated booster doses, demand for lab freezers would stay stable in this scenario, following a pattern similar to the pre-pandemic scenario. This could be due to the rise in vaccine trials fueled by rising investments, an increase in the number of surgical procedures performed (such as organ transplants), and an increase in global blood donations.
By Product:
Freezers, refrigerators, and cryopreservation equipment make up the laboratory freezer market. The freezers category held the greatest share of the market in 2020. A substantial proportion of this market can be ascribed to their use in pharmaceutical and biotechnology businesses, academic and research organizations, and medical laboratories and hospitals to support vaccine development and to store test samples.
By End User:
The increasing prevalence of blood illnesses such as sickle-cell anemia, blood cancer, and haemophilia primarily drives the demand for whole blood and blood components. Plasma freezers are in high demand in blood banks due to rising demand for plasma from biopharmaceutical companies for use in plasma fractionation operations.
By Products
Freezers
Ultra Low Temperature Freezers
Enzyme Freezers
Laboratory Freezers
Plasma Freezers
Explosion-proof Freezers
Flammable Material Freezers
Refrigerators
Laboratory Refrigerators
Chromatography Refrigerators
Flammable Material Refrigerators
Blood Bank Refrigerators
Pharmacy Refrigerators
Explosion-proof Refrigerators
Cryopreservation Systems
By End User
Pharmaceutical and Biotechnology Companies
Blood Bank
Others
REGIONAL ANALYSIS
North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa are just a few of the regions represented. In 2023, the Laboratory Freezers market was dominated by North America. The high healthcare spending in the United States and Canada, as well as the expanding R&D spending on pharmaceuticals and biotechnology in this region, account for the big proportion of this geographical category. The region's huge number of laboratory freezer and refrigerator producers additionally helps to drive market expansion.
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REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Ther are some of the major key players are as: Thermo Fisher Scientific, Haier Biomedical, PHC Corporation, Philipp Kirsch Gmbh, Cole-Parmer India Pvt. Ltd., Cryo Scientific Systems Pvt Limited, ACMAS Technologies (P) Ltd, Stericox Sterilizer Systems India, Cool Wind Scientific Systems, Nordic Lab, and other players.
| Report Attributes | Details |
| Market Size in 2023 | US$ 4.97 Billion |
| Market Size by 2032 | US$ 7.88 Billion |
| CAGR | CAGR of 5.31% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Products (Freezers, Refrigerators, Cryopreservation Systems) • By End User (Pharmaceutical and Biotechnology Companies, Blood bank, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Thermo Fisher Scientific, Haier Biomedical, PHC Corporation, Philipp Kirsch Gmbh, Cole-Parmer India Pvt. Ltd., Cryo Scientific Systems Pvt Limited, ACMAS Technologies (P) Ltd, Stericox Sterilizer Systems India, Cool Wind Scientific Systems, Nordic Lab, and other players. |
| DRIVERS | • The need for blood and blood components is increasing. |
| RESTRAINTS | • Refurbished laboratory freezers are becoming increasingly popular. |
Ans:- The Laboratory Freezers Market size was valued at 4.97 billion in 2023.
Ans:- The Laboratory Freezers Market size was valued at 5.31% over the forecast period 2024-2032.
Key drivers of the Laboratory Freezers Market is the need for blood and blood components is increasing.
Freezers, Refrigerators, and Cryopreservation Systems are the sub-segments of by-product.
Top-down, bottom-up, Quantitative, Qualitative Research, Descriptive, Analytical, Applied, Fundamental Research.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Laboratory Freezers Market Segmentation, by Products
8.1 Freezers
8.1.1 Low Temperature Freezers
8.1.2 Enzyme Freezers
8.1.3 Laboratory Freezers
8.1.4 Plasma Freezers
8.1.5 Explosion-proof Freezers
8.1.6 Flammable Material Freezers
8.2 Refrigerators
8.2.1 Laboratory Refrigerators
8.2.2 Chromatography Refrigerators
8.2.3 Flammable Material Refrigerators
8.2.4 Blood Bank Refrigerators
8.2.5 Pharmacy Refrigerators
8.2.6 Explosion-proof Refrigerators
8.3 Cryopreservation Systems
9. Laboratory Freezers Market Segmentation, By End User
9.1 Pharmaceutical and Biotechnology Companies
9.2 Blood Bank.
9.3 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 USA
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4 Asia-Pacific
10.4.1 Japan
10.4.2 South Korea
10.4.3 China
10.4.4 India
10.4.5 Australia
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.1 Israel
10.5.2 UAE
10.5.3 South Africa
10.5.4 Rest
10.6 Latin America
10.6.1 Brazil
10.6.2 Argentina
10.6.3 Rest of Latin America
11. Company Profiles
11.1 Thermo Fisher Scientific
11.1.1 Financial
11.1.2 Products/ Services Offered
11.1.3 SWOT Analysis
11.1.4 The SNS view
11.2 Haier Biomedical
11.3 PHC Corporation
11.4 Philipp Kirsch Gmbh
11.5 Cole-Parmer India Pvt. Ltd.
11.6 Cryo Scientific Systems Pvt Limited
11.7 ACMAS Technologies (P) Ltd
11.8 Stericox Sterilizer Systems India
11.9 Cool Wind Scientific Systems
11.10 Nordic Lab.
12. Competitive Landscape
12.1 Competitive Benchmark
12.2 Market Share analysis
12.3 Recent Developments
13. Conclusion
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