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.
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.
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 to 2021
What Drives the Market?
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.
Laboratory Freezer Manufacturers
Laboratory Equipment Manufacturers
Suppliers and Distributors of Laboratory Freezers
Healthcare Service Providers (including Hospitals, Laboratories, Diagnostic Centers, and Blood Banks)
Research and Consulting Firms
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The laboratory freezers market studied in this report is segmented by product type, end user, and region. Based on end user, the market is segmented into hospitals, medical laboratories, pharmacies, blood banks, academic & research institutes, and pharmaceutical and biotechnology companies.
The geographical regions mapped in the report are:
1. North America
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.
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