Laboratory Freezers Market worth USD 6.9 Bn. by 2029 Growth, Size, Trends, Share, Forecast, Supply Demand to 2029
Pune 6, Dec 2022: According to Maximize Market Research, the Laboratory Freezers Market is expected to reach USD 6.9 billion by 2029, growing at a CAGR of 5.5%. The market price report’s recovery-based survey includes critical information on growth strategy, market dynamics, innovations, business opportunities, and the competitive environment for 2021.
Laboratory Freezers Market Scope and Research Methodology
The research report makes extensive use of primary and secondary data sources. During the research process, government policy, the market environment, the competitive landscape, historical data, current market trends, technological innovation, upcoming technologies, and the technical progress in related industries are all investigated, as are market risks, opportunities, market barriers, and challenges. In order to provide the final quantitative and qualitative data, all conceivable factors influencing the markets included in this research study were considered, thoroughly examined, validated through primary research, and evaluated. The impact of inflation, economic downturns, regulatory and policy changes, and other variables is factored into the market forecast for top-level markets and sub-segments. This information is included in the report, as well as detailed inputs and analysis.
To estimate market size and analyze global market trends, bottom-up approaches were used. To obtain accurate inferences, data was collected from a large sample using both primary and secondary research methods. Surveys, questionnaire distribution, and phone interviews with industry experts, market leaders, entrepreneurs, and marketing professionals were the primary methods used. Secondary data was meticulously gathered from a carefully selected set of sources to ensure the accuracy of the conclusions. There are paid databases, industry journals, white papers, annual reports, product manufacturer and supplier releases, official databases of numerous organizations, and government websites with addition to white papers and annual reports. PESTLE analysis was used to understand various market factors, whereas SWOT analysis was used to understand the strengths and weaknesses of major corporations. As a result, the report goes into great detail about the Laboratory Freezers Market.
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Laboratory Freezers Market Overview
A laboratory freezer is a precisely designed piece of laboratory equipment with a thermally insulated compartment and a heat pump that transmits heat from the inside of the device to its external environment, so that the inside of the freezer is cooled to a temperature below the freezing point of water at a minimum or much below it, depending on the substance being frozen. Laboratory freezers are commonly used equipment in blood banks, academic institutions, and pharmaceutical and biotechnology enterprises for the preservation of various biological products such as blood, tissues, serum, and vaccine samples, among others. The freezers can be used to store biological samples that are being studied and used in experiments.
Laboratory Freezers Market Dynamics
The laboratory freezers market has grown significantly in recent decades, owing to a variety of factors including an increase in manufacturers’ focus on producing unique products for preserving diverse cells and an increase in FDA approvals for cell treatments. BioLife Solutions, for example, released “High-Capacity Controlled Rate Freezers” in April 2021. (HCRF). In addition, Kite announced in July 2020 that its Tecartus (previously known as KTE-X19) CAR-T cell treatment had been approved by the US FDA. Adults with relapsed mantle cell lymphoma benefit from the therapy (MCL).
Furthermore, Juno Therapeutics’ Breyanzi CAR-T therapy received FDA approval in February 2021. It is given to adults who have relapsed large B cell lymphoma. Novartis received approval from Singapore’s “Health Sciences Authority” to commercialize Kymriah in April 2021. This initial CAR-T therapy is said to be a one-time procedure performed specifically for each patient. The treatment was approved under the new cell, tissue, and gene therapy regulatory framework.
Laboratory Freezers Market Regional Insights
North America have a market share of more than 55% in 2021, thanks to strict regulations, high standards, and significant investment in hospital and healthcare infrastructure in the United States. Because the United States spends nearly 22.1% of its GDP on healthcare, improving patient care and reducing pharmaceutical and biological component waste are top priorities. The increasing incidence of chronic illnesses and the growing elderly population have a significant impact on the frequency of blood transfusion procedures and the consumption of various pharmaceutical goods. As a result, the demand for laboratory freezers is increasing across all end-use categories.
Laboratory Freezers Market Segmentation
- Plasma Freezers
- Enzyme Freezers
- Flammable Material Freezers
By End User
- Blood Banks
- Medical Laboratories
- Pharmaceutical & Biotechnology Companies
Laboratory Freezers Market Key Competitors:
- Eppendorf AG
- Haier Biomedical
- Thermo Fisher Scientific, Inc.
- Helmer Scientific
- PHC Holdings Corporation
- Middleby Corporation
- Felix Storch, Inc.
- BioLife Solutions, Inc.
- Blue Star Limited
- B Medical Systems
- Philipp Kirsch GmbH
- Avantor, Inc.
- Standex International Corporation
- Vestfrost Solutions A/S
- Changhong Meiling Co. Ltd.
- EVERmed S.R.L.
- ARCTIKO A/S
- Glen Dimplex Medical Appliances
- So-Low Environmental Equipment Co. Ltd.
- KW Apparecchi Scientifici SRL
- Jeio Tech
- Refrigerated Solutions Group
- Stericox India Private Limited
- Thalheimer Kühlung
- Antylia Scientific
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Key questions answered in the Laboratory Freezers Market are:
- What are Laboratory Freezers?
- What will be the growth rate of the Laboratory Freezers Market over the forecast period?
- What is the nature of competition in the Laboratory Freezers industry in developed and developing economies?
- Who are the key players in the Laboratory Freezers market?
- Who are the European Laboratory Freezer market leaders?
- Who are the Laboratory Freezer market leaders in the United States and Canada?
- Who are the Laboratory Freezer market leaders in India, China, Japan, and South Korea?
- What factors are influencing growth in the Laboratory Freezers Market?
- Who commanded the greatest market share in the Laboratory Freezers Market?
- What are the factors driving growth in the Asia-Pacific Laboratory Freezers Market?
- Market Trends, Statistics, Challenges & Forecast by Revenue | 2022−2029
- Market Dynamics – Technological Growth, Future Growth and Business Opportunities 2029
- Market Segmentation – A detailed analysis by Type, End-User, and Region
- Competitive Landscape – Top Key Players and Other Prominent Vendors
Maximize Market Research is leading research firm in Medical Devices Domain, has also published the following reports:
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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