Laboratory Freezers Market worth 3.76 Bn USD by 2021

Thursday 14 July 2016, Amsterdam

The report, now available on ASDReports, "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", 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 number of organs transplant procedures, growing demand for blood and blood components, and technological advancements in freezers and refrigerators are the key factors driving the growth of the laboratory freezers market. However, factors such as increasing use of refurbished equipment and intense pricing pressure on manufacturers are restraining the growth of this market.

In this report, the laboratory freezers market is segmented by product type, end user, and region. Based on product type, the market is segmented into freezers, refrigerators, and cryopreservation systems. The freezers segment accounted for the largest share in 2015, primarily due to the high demand for freezers for the storage of laboratory samples as a result of the growing number of laboratory tests globally, coupled with the growth in demand for blood and plasma for transfusion and plasma fractionation procedures. However, the cryopreservation systems segment is estimated to register a higher growth due to the growing use of cryopreservation techniques and equipment for the storage of cell lines.

In 2015, North America accounted for the largest share of the laboratory freezers market, followed by Europe. The growing awareness & adoption of advanced lab freezers & refrigerators, significant growth in the number of life sciences research activities for disease treatment, and growing R&D spending in pharmaceutical & biotechnology industries in the region are driving the growth of the North American market. The Asia-Pacific region, however, is expected to witness a higher growth in the coming years, primarily due to the improving healthcare infrastructure, rising awareness about technologically advanced devices, and growth in biotechnology research in this region. In addition, manufacturers are increasingly focusing on strengthening their presence in emerging APAC countries.

The global laboratory freezers market is consolidated in nature, with the top five companies accounting for a major market share in 2015. Some of the key players in this market 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). The leading players in this market have a major focus on new product launches, agreements, collaborations, partnerships, and expansion of their geographic presence in emerging markets. These are the widely adopted strategies by leading players to enhance their revenue streams and achieve sustainable growth in this competitive market.