image

Laboratory Freezers Market Report Scope & Overview:

Laboratory Freezers Market Size was valued at USD 4.83 billion in 2023 and is expected to reach USD 7.13 billion by 2031, and grow at a CAGR of 5% over the forecast period 2024-2031.

Many blood banks, academic institutions, pharmaceutical and biotechnological corporations, and others utilize laboratory freezers to store medical equipment, devices, organs, and other items. Thermal insulation technology is used in laboratory freezers to assist maintain a cold environment by converting heat from the surrounding environment.

Laboratory Freezers Market Revenue Analysis

Get more information on Laboratory Freezers Market - Request Sample Report

One of the primary drivers driving the market's growth is an increase in public-private funding for target research initiatives, combined with an increase in the prevalence of infections. Another factor driving market expansion is the increasing demand for organ transplant treatments.

Increasing technological progress and innovation of new medical devices and instruments, an increase in the number of product launches, increased government support for research and testing, rising government funding, and the real potential of emerging markets will all contribute to lucrative market growth opportunities.

MARKET DYNAMICS

DRIVERS

  • The need for blood and blood components is increasing.

RESTRAINTS

  • Refurbished laboratory freezers are becoming increasingly popular.

OPPORTUNITIES

  • Developing vaccines for new infectious illnesses

CHALLENGES

  • Lack of knowledge about the importance of specialist laboratory freezers and refrigerators

IMPACT OF COVID-19

There is a continuing slowdown in the healthcare business due to the global epidemic of COVID-19 and the forced lockout. The primary players were considering how to modify their strategy to the quickly changing circumstances. COVID-19 is projected to have substantial long-term consequences for the healthcare business, which is bad news. Countries and important actors would be forced to make significant healthcare changes until the situation is resolved. In the not-too-distant future, technological advancements, cost containment, and expanded access will all be part of healthcare reform. However, because many healthcare providers are experimenting with video conferencing and phone calls, this segment's growth will skyrocket in the next two years.

COVID-19 is thought to have had a rather beneficial and possibly long-term impact on the laboratory freezers market. Even if the COVID-19 vaccine proves successful without the need for repeated booster doses, demand for lab freezers would stay stable in this scenario, following a pattern similar to the pre-pandemic scenario. This could be due to the rise in vaccine trials fueled by rising investments, an increase in the number of surgical procedures performed (such as organ transplants), and an increase in global blood donations.

By Product:

Freezers, refrigerators, and cryopreservation equipment make up the laboratory freezer market. The freezers category held the greatest share of the market in 2020. A substantial proportion of this market can be ascribed to their use in pharmaceutical and biotechnology businesses, academic and research organizations, and medical laboratories and hospitals to support vaccine development and to store test samples.

By End User:

The increasing prevalence of blood illnesses such as sickle-cell anemia, blood cancer, and haemophilia primarily drives the demand for whole blood and blood components. Plasma freezers are in high demand in blood banks due to rising demand for plasma from biopharmaceutical companies for use in plasma fractionation operations.

MARKET SEGMENTATION:

By Products

  • Freezers

    • Ultra Low Temperature Freezers

    • Enzyme Freezers

    • Laboratory Freezers

    • Plasma Freezers

    • Explosion-proof Freezers

    • Flammable Material Freezers

  • Refrigerators

    • Laboratory Refrigerators

    • Chromatography Refrigerators

    • Flammable Material Refrigerators

    • Blood Bank Refrigerators

    • Pharmacy Refrigerators

    • Explosion-proof Refrigerators

  • Cryopreservation Systems

By End User

  • Pharmaceutical and Biotechnology Companies   

  • Blood Bank                                 

  • Others

Laboratory Freezers Market Segmentation Analysis

REGIONAL ANALYSIS

North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa are just a few of the regions represented. In 2023, the Laboratory Freezers market was dominated by North America. The high healthcare spending in the United States and Canada, as well as the expanding R&D spending on pharmaceuticals and biotechnology in this region, account for the big proportion of this geographical category. The region's huge number of laboratory freezer and refrigerator producers additionally helps to drive market expansion.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

KEY PLAYERS:

Ther are some of the major key players are as: Thermo Fisher Scientific, Haier Biomedical, PHC Corporation, Philipp Kirsch Gmbh, Cole-Parmer India Pvt. Ltd., Cryo Scientific Systems Pvt Limited, ACMAS Technologies (P) Ltd, Stericox Sterilizer Systems India, Cool Wind Scientific Systems, Nordic Lab, and other players.

Haier Biomedical,-Company Financial Analysis

Company Landscape Analysis

Laboratory Freezers Market Report Scope:
Report Attributes Details
Market Size in 2023 US$ 4.83 Billion
Market Size by 2031 US$ 7.13 Billion
CAGR CAGR of 5% From 2024 to 2031
Base Year 2023
Forecast Period 2024-2031
Historical Data 2020-2022
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Products (Freezers, Refrigerators, Cryopreservation Systems)
• By End User (Pharmaceutical and Biotechnology Companies, Blood bank, Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Thermo Fisher Scientific, Haier Biomedical, PHC Corporation, Philipp Kirsch Gmbh, Cole-Parmer India Pvt. Ltd., Cryo Scientific Systems Pvt Limited, ACMAS Technologies (P) Ltd, Stericox Sterilizer Systems India, Cool Wind Scientific Systems, Nordic Lab, and other players.
DRIVERS • The need for blood and blood components is increasing.
RESTRAINTS • Refurbished laboratory freezers are becoming increasingly popular.

Frequently Asked Questions

Ans:- The Laboratory Freezers Market size was valued at 4.83 billion in 2023.

Ans:- The Laboratory Freezers Market size was valued at US$ 5% over the forecast period 2024-2031.

Key drivers of the Laboratory Freezers Market is the need for blood and blood components is increasing.

Freezers, Refrigerators, and Cryopreservation Systems are the sub-segments of by-product.

Top-down, bottom-up, Quantitative, Qualitative Research, Descriptive, Analytical, Applied, Fundamental Research.

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7.  PEST Analysis

8. Laboratory Freezers Market Segmentation, by Products

8.1 Freezers

8.1.1 Low Temperature Freezers

8.1.2 Enzyme Freezers

8.1.3 Laboratory Freezers

8.1.4 Plasma Freezers

8.1.5 Explosion-proof Freezers

8.1.6 Flammable Material Freezers

8.2 Refrigerators

8.2.1 Laboratory Refrigerators

8.2.2 Chromatography Refrigerators

8.2.3 Flammable Material Refrigerators

8.2.4 Blood Bank Refrigerators

8.2.5 Pharmacy Refrigerators

8.2.6 Explosion-proof Refrigerators

8.3 Cryopreservation Systems

9. Laboratory Freezers Market Segmentation, By End User

9.1 Pharmaceutical and Biotechnology Companies

9.2 Blood Bank.

9.3 Others

10. Regional Analysis

10.1 Introduction

10.2 North America

10.2.1 USA

10.2.2 Canada

10.2.3 Mexico

10.3   Europe

10.3.1 Germany

10.3.2 UK

10.3.3 France

10.3.4 Italy

10.3.5 Spain

10.3.6 The Netherlands

10.3.7 Rest of Europe

10.4   Asia-Pacific

10.4.1 Japan

10.4.2 South Korea

10.4.3 China

10.4.4 India

10.4.5 Australia

10.4.6 Rest of Asia-Pacific

10.5   The Middle East & Africa

10.5.1 Israel

10.5.2 UAE

10.5.3 South Africa

10.5.4 Rest

10.6   Latin America

10.6.1 Brazil

10.6.2 Argentina

10.6.3 Rest of Latin America

11. Company Profiles

11.1 Thermo Fisher Scientific

11.1.1 Financial

11.1.2 Products/ Services Offered

11.1.3 SWOT Analysis

11.1.4 The SNS view

11.2 Haier Biomedical

11.3 PHC Corporation

11.4 Philipp Kirsch Gmbh

11.5 Cole-Parmer India Pvt. Ltd.

11.6 Cryo Scientific Systems Pvt Limited

11.7 ACMAS Technologies (P) Ltd

11.8 Stericox Sterilizer Systems India

11.9 Cool Wind Scientific Systems

11.10 Nordic Lab.

12. Competitive Landscape

12.1 Competitive Benchmark

12.2 Market Share analysis

12.3 Recent Developments

13. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.

 

The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.

Data Bank Validation

Step 4: QA/QC Process

After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.

Step 5: Final QC/QA Process:

This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.

Start a Conversation

Hi! Click one of our member below to chat on Phone