Laboratory Freezers Market Report Scope & Overview:

Laboratory Freezers Market Size was valued at USD 4.92 billion in 2023 and is expected to reach USD 7.48 billion by 2032, growing at a CAGR of 4.78% over the forecast period 2024-2032.

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The report provides distribution statistics and emerging trends in the Laboratory Freezers Market, including market demand, growth trends, and geographical distribution from 2020 to 2032. It examines the disease incidence and prevalence that bolsters demand for cold storage solutions in research and health care. The study also brings forth sales trends across important regions. The study provides the healthcare and research industry, as well as Laboratory Freezer manufacturers with valuable information on their sales and demand. Key insights might be critical for understanding market favorites, opportunities to invest, or the increasing demand for laboratory freezer solutions across different technologies. Increasing demand for advanced medical research & diagnostics, driven by government programs, is boosting the laboratory freezers market. For instance, the U.S. government has been investing heavily in healthcare infrastructure, with significant allocations for research and development.

Laboratory Freezers Market Dynamics

Driver

• Increasing demand for blood and blood components for transfusions and cancer therapies is boosting the need for laboratory freezers.

The rise in demand for blood and blood components, especially in cancer therapies, is a key factor driving the growth of the laboratory freezers market. Patients on cancer therapies routinely need large transfusions of blood. For instance, nearly 25% of the nation’s blood supply is used by cancer patients in the United States, highlighting the importance of blood products in oncology care. Emerging cancer treatments, especially CAR T-cell therapy, have also heightened the demand for blood products. Although these therapies have shown promising results, they also induce unwanted side effects such as cytokine release syndrome which often require additional blood support for the patients. For example, one CAR T-cell therapy for acute lymphoblastic leukemia, developed by a UK biotech company, is highly effective but poses logistical hurdles as well as high costs, in part because of a requirement for supportive blood products.

The demand for blood in India is also high. Approximately 2,760 blood banks make up the country’s blood transfusion service, which performs around 12 million annual collections of blood. With such a vast network in place, timely availability of safe blood at need remains a challenge in most areas emphasizing the need for efficient blood storage setup. In this context, laboratory freezers are key players capable of storing blood and blood components, to fulfil these increasing requests. “When patients undergo treatments like chemotherapy and have surgeries, the right blood products, when stored properly, are available to ensure patients have the right blood, and blood products, they need for a transfusion. Blood collections and transfusions in the U.S., which stabilized at about 11.78 million red blood cell units in 2021 and 10.76 million red blood cell units in 2021, demonstrates blood use plateaued but the need for reliable blood storage systems continues to be essential to ensure availability of blood products.

Restraints:

• The high cost of advanced laboratory freezers limits accessibility for smaller laboratories and research facilities.

The high cost of advanced laboratory freezers, particularly ultra-low temperature (ULT) models, poses significant challenges for smaller laboratories and research facilities. Essential for preserving sensitive biological material, these specialized freezers can cost anywhere from $10,000 to $25,000 per unit. Operators of these facilities are not only confronted with the high costs of upfront investment, but they also have to mitigate the ongoing expense. Players in the ULT freezer space are aware that domestic and commercial ULT freezers consume a lot of energy; one unit can consume as much energy as an average household and can often increase electricity bills. Furthermore, running these freezers constantly means that regular service is needed to maintain optimal performance, creating ongoing expenses throughout the ownership period.

Enabling framework to support clinical needs In developing areas where additional funding was not available, hospitals and research institutions were unable to afford such high-performance equipment. Limited funds for these laboratories delay healthcare infrastructure growth in these areas and limit them from investing in advanced laboratory freezers. To reduce costs, some facilities go for refurbished laboratory freezers, which can be 50% to 60% less expensive than new units. Yet, systems combining temperature and humidity may be riskier in terms of damping (for reliability) and temperature (for energy efficiency), since the concurrent control can be degrading and hamper the viability of samples.

Opportunities:

• Technological advancements in laboratory freezers, such as energy-efficient models, present growth opportunities for manufacturers.

Manufacturers are facing immense opportunities due to the advancement of lab freezers, especially ultra-low temperature (ULT) freezers, are presenting significant opportunities for manufacturers to meet the evolving needs of research and medical facilities. Traditional, ULT freezers powered by traditional coolants such as methane or ethyl alcohol operating at -80°C have not been known to be energy-efficient, leading to soaring operational costs. For example, in 2010 Stanford University owned more than 2000 ULT freezers, which required approximately 40 billion BTUs of energy and an $5.6 million annual cost. Manufacturers have been paying attention to making models that use less energy. These new ULT freezers are engineered to operate with lower energy consumption, without sacrificing performance. While specific consumption rates can vary based on factors such as freezer volume and usage frequency, newer models have been reported to start from approximately 11 kWh/day.

In addition to energy efficiency, there has been a shift towards optimizing storage temperatures. Some scientists have argued that ULT freezers should be set to -70°C rather than -80°C, an adjustment that both conserves energy and spares the freezer's compressor, which could help prolong the lifespan of the equipment. These advancements are allowing manufacturers to meet a growing demand for sustainability and cost control. Manufacturers can catalog innovative products that promote these ethical trends, helping to improve their competitiveness in the laboratory freezers market.

Challenges:

• Lack of awareness regarding the proper use and maintenance of specialized laboratory freezers can lead to sample contamination and distorted results.

Proper maintenance of laboratory freezers is crucial for preserving sample integrity and ensuring operational efficiency. A good ULT freezer can use as much energy as an average home, so regular maintenance is important. It's important to note that failing to carry out basic maintenance such as defrosting can result in considerable energy wastage. For example, 50mm of ice buildup can lead to a 30% increase in energy consumption. This not only saves energy by reducing the load on the cooling units but also keeps the freezer running longer and reduces the chance of losing precious samples due to freezer failure. Poor maintenance could lead to devastating sample losses. In fact, in 2012, 150 frozen brain samples at the Harvard Brain Tissue Resource Center were lost when an appliance was improperly monitored, and its alarm system was rendered obsolete by its method of storage. Incidents like this demonstrate the importance of proper maintenance and monitoring systems to mitigate the potential for such situations to ever happen again. Best practices, like cleaning door gaskets and condenser coils, can further increase the efficiency of freezers. Regular defrosting and cleaning can save about $280 per freezer each year. Also, being organized cuts the time that freezer doors stay open which helps keep internal temperatures down and saves energy.

Laboratory Freezers Market Segmentation Analysis

By Product

In 2023, the freezers segment held the largest market share, which could be attributed to its extensive usage in the pharmaceutical and biotechnology sectors for storing temperature-sensitive materials, including vaccines and biological samples. This dominance is driven by government statistics reporting increased funding for biomedical research, which necessitates reliable storage solutions. For instance, the National Institutes of Health (NIH) has been devoting a sizeable amount of funds towards research undertakings, which increases the need for premium freezers. Blood banks and medical labs are some of the end-users of freezers that drive this segment's revenue. Additionally, the latest developments in freezer technology, including ultra-low temperature freezers, have further increased their attractiveness by providing the precision temperature control needed for storing volatile biological materials.

Enhancing the demand for freezers is the surgical consumption of government regulations regarding the safe and effective preservation of samples. As a result, this facilitates wider adoption of advanced series freezer models that provide better temperature uniformity and remote supervision of the freezer, which guarantee strict legal requirements. Consequently, the freezers segment continues to dominate the market, owing to its significant impact in supporting medical research and diagnostics. Moreover, smart freezers use IoT and wireless technology to include real-time monitoring and data logging, essential features for maintaining the integrity of samples and ensuring regulatory compliance. The increasing demand for energy-efficient models due to surging energy costs and growing environmental concerns also favors the growth of this segment.

By End User

The Pharmaceutical & Biotechnology Companies Segment Accounted for Significant Revenue Share in 2023 owing to Increasing Demand for Biopharmaceutical Drugs and Vaccines This growth has been driven by government support for research and development in these sectors. As an example, government investments in biotechnology infrastructure have driven demand for laboratory equipment and freezers. In pharmaceutical research, laboratory freezers are becoming increasingly critical for the storage of biological samples and reagents that require exact temperature control. Moreover, the increasing emphasis on personalized medicine and precision healthcare increases the need for advanced storage solutions in this segment. However, the pharmaceutical industry holds sensitive materials like drugs during the clinical trial and drug development processes depend on laboratory freezers.

Government statistics highlight the significant investments in pharmaceutical and biotechnology research, which in turn drive the demand for specialized storage solutions. The demand for laboratory freezers is also increasing largely due to initiatives by the U.S. government to support biotechnology innovation, which has resulted in more funding for research projects. Moreover, the stringent regulatory environment in the pharmaceutical sector also demands a high-quality freezer that can maintain precise temperature control and ensure sample integrity, further contributing to their market share.

Regional Analysis

In 2023, North America held the largest share of the laboratory freezers market. The U.S. and Canada dominate in high healthcare spending and investments in pharmaceutical and biotechnology research. The region offers an extensive healthcare framework, and the region is home to a large number of research facilities, all of which drive demand for and installation of advanced laboratory freezers. the increasing demand for smart laboratory freezers in North America could be due to the integration of smart technologies and IoT in laboratory equipment, which offer enhanced efficiency and enable remote monitoring, thereby aligning with the technological advancements on the continent. The Asia-Pacific region is expanding the most with the highest CAGR, due to accelerated economic growth, and augmenting healthcare expenditure. The Asia-Pacific region accounted for a significant market share in 2023 owing to the government campaigns to improve healthcare infrastructure as well as Countries such as India and China are investing a lot in medical research and diagnostic, which paves the way for the growth of the laboratory freezers market. Increasing awareness of the need for proper sample storage and preservation is also fuelling growth in the Asia-Pacific region. Moreover, the rise of chronic diseases in the Asia-Pacific region is leading to enhanced medical research and diagnostics, which are contributing to the demand for laboratory freezers.

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Laboratory Freezers Market Key Players

Key Service Providers/Manufacturers

• Thermo Fisher Scientific (TSX Series Ultra-Low Freezers, Forma 900 Series Freezers)

• Eppendorf (CryoCube F740, Innova U101)

• Panasonic Healthcare (VIP ECO ULT Freezers, MDF-DU702VH-PA)

• Haier Biomedical (DW-86L828J Ultra-low Freezer, DW-40L508 Deep Freezer)

• Helmer Scientific (i.Series Ultra-Low Freezers, Horizon Series Plasma Freezers)

• Yatherm Scientific (Coolex 170 Vertical Deep Freezer, Coolex 185C Horizontal Deep Freezer)

• Labtron (-150°C Ultra Low Temperature Chest Freezer LCF-E10, -40°C Upright Freezer LUF-B10)

• Nu Tek Instruments Pvt. Ltd. (V-1500AB LN2 Storage System, Controlled Rate Freezer)

• Hi-Tech Lab Solutions (HR-DF20-90S Deep Freezer, HR-DF80-90S Deep Freezer)

• PHCbi (MDF-DU900VHA-PA VIP ECO ULT Freezer, MDF-U731M-PA Biomedical Freezer)

• Arctiko (ULUF 450 Ultra Low Temperature Freezer, MUF 40 Upright Freezer)

• Esco Lifesciences (HP Series Ultra-Low Temperature Freezer, Lexicon® II ULT Freezer)

• Bionics Scientific (-86°C Ultra-Low Temperature Freezer, -40°C Deep Freezer)

• Remi Elektrotechnik Ltd. (REMI Ultra-Low Temperature Freezer, Laboratory Deep Freezer)

• Vestfrost Solutions (ULF 390 Ultra Low Freezer, MF 114 Freezer)

• IlShin BioBase (Ultra Low Temperature Freezer ULT-90N, Cryogenic Freezer CS-80)

• So-Low Environmental Equipment Co. (Ultra Low Chest Freezer, Ultra Low Upright Freezer)

• Froilabo (ULT Freezer -86°C, Freezer -45°C)

• Binder GmbH (Ultra Low Temperature Freezer UF V 700, Freezer BF 720)

• Liebherr (LGPv 1420 MediLine Freezer, LGUex 1500 MediLine Freezer)

Recent Developments

• In August 2023, TeleVox (US) collaborated with Oracle (US) to deliver a better patient engagement solution over Oracle Cloud Infrastructure (OCI). TeleVox is a member of the Oracle PartnerNetwork (OPN) and offers robust health communication capabilities hosted on the OCI.

• In August 2023, Foxo introduced their new patient-specific module to further optimize the patient experience, offering a secure patient engagement interface enabling proactive communication between the patients and their care providers for sharing pertinent clinical information.