(PharmaNewsWire.Com, July 08, 2020 ) According to the new market research report "Laboratory Freezers Market by Product (Cryopreservation, Plasma Freezer, Explosion-Proof Freezer, Enzyme Freezer, Ultra-Low Freezer, Blood Bank Refrigerator, Pharmacy Refrigerator, Chromatography Refrigerator) & by End User – Global Forecast " published by MarketsandMarkets™
The global laboratory freezers market is projected to reach USD 3.76 Billion by 2021, at a CAGR of 4.6% from 2016 to 2021.
The increasing demand for blood & blood components, rising government support for research activities and clinical trials, and technological advancements in freezers & refrigerators are the major factors driving the growth of the market. Untapped emerging regions are expected to offer new growth opportunities for players operating in this market in the coming years.
1. Increasing Demand for Blood and Blood Components for Transfusion and Production of Biopharmaceuticals 2. Growing Number of Organ Transplant Procedures 3. Rising Government Support for Research Activities and Clinical Trials 4. Technological Advancements in Laboratory Freezers and Refrigerators
The increasing demand for blood & blood components and growing number of organ transplant procedures are the key factors driving the growth of the global market. However, the availability of low-cost products from a large number of local players and increasing use of refurbished equipment are some of the major factors restraining the growth of this market.
Based on end user, the laboratory freezers market is segmented into hospitals, medical laboratories, pharmacies, academic & research institutes, blood banks, and pharmaceutical & biotechnology companies. The blood banks segment accounted for the largest share of the market in 2015. The large share of this segment can be attributed to the rising demand for whole blood and blood components, owing to the increasing prevalence of blood disorders such as sickle cell anemia, blood cancer, and hemophilia.
The geographical regions mapped in the report are: 1. North America 2. Europe 3. Asia-Pacific (APAC) 4. Latin America 5. Middle East and Africa
Geographically, 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.
Some key players mentioned in the research report are:
Thermo Fisher Scientific Inc. (U.S.), Haier Biomedical (China), Eppendorf AG (Germany), Helmer Scientific (U.S.), VWR Corporation (U.S.), ARCTIKO A/S (Europe), Biomedical Solutions Inc. (U.S.), EVERmed S.R.L. (Italy), Philipp Kirsch GmbH (Germany), and Panasonic Healthcare Co., Ltd. (Japan).
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