Laboratory Refrigerators and Freezers Market

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2. LABORATORY REFRIGERATORS AND FREEZERS MARKET ANALYSIS Laboratory Refrigerators and Freezers Market, by Product (Refrigerators (Stand alone and Portable) and Freezers (Low Temperature and Ultra Low Temperature)), by End User (Hospitals, Research Institutes, Blood Banks, and Others), by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2019 – 2027

3. Market – Dynamics Laboratory refrigerators and freezers are used for preservation of specimen samples, blood samples, blood plasma, and other products including vaccines, syringes, etc. giving it a broad range of applications. These are highly sterilized and maintained at the required standards for prevention from bacterial or any other contamination. 

4. Global Laboratory Refrigerators and Freezers Market Drivers Adoption of strategies such as collaboration, partnerships, merger, and acquisitions by the key players is expected to drive the global laboratory refrigerators and freezers market growth. For instance, in May 2018, Phononic, Inc., partnered with Thermo Fischer Scientific, a biotechnology product development company for creating an exclusive product line in healthcare and life sciences. This agreement also includes development of Thermo Fischer Scientific‘s TSX 505 series of laboratory refrigerators. Hence, such partnerships are expected to accelerate the global laboratory refrigerators and freezers market growth.

5. Global Laboratory Refrigerators and Freezers Market Regional Analysis North America is expected to hold a dominant position in the global laboratory refrigerators and freezers market, owing to increase in number of blood banks, influencing positively North America’s laboratory refrigerators and freezers market growth. According to Americas Blood Centers, there are over 600 blood collection centers present in the U.S., 2018, and these blood collection centers are expected to require more number of laboratory refrigerators and freezers for storing the blood plasma and other products. 

6. Global Laboratory Refrigerators and Freezers Market Restraints Manufacturers are constantly developing new products in laboratory refrigerators and freezers. This further adds up into final cost, making these products expensive, which may hinder the global laboratory refrigerators and freezers market growth. For instance, one TSX Series Ultra Low Temperature Freezer, a product of Thermo Fischer Scientific costs around US$ 21,908. 

7. Global Laboratory Refrigerators and Freezers Market Key Players Some of the major players operating in the global laboratory refrigerators and freezers market include, Thermo Fischer Scientific, Phononic Inc., Philipp Kirsch GmbH, Haier Biomedical, Panasonic Healthcare Co., Ltd., VWR Corporation, Eppendorf AG, Bionics Scientific Technologies Ltd., Helmer Scientific, and Aegis Scientific Inc.

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