The major players in the global laboratory freezers 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 global laboratory freezers market is studied at regional and country levels. In 2015, North America represented the largest regional market, followed by Europe. Although North America will continue to dominate the global market during the forecast period, the Asia-Pacific region is expected to register the highest market growth in the coming years. A majority of the growth in this region is driven by the improving healthcare infrastructure, increasing investments by government agencies, growth in biotechnology research, and rising focus of key market players on emerging Asia-Pacific countries.
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The global laboratory freezers market is estimated to reach USD 3.76 Billion by 2021, at a CAGR of 4.6% during the forecast period. The increasing demand for blood & blood components and growing number of organ transplant procedures are the key factors driving the growth of the global market. However, the availability of low-cost products from a large number of local players and increasing use of refurbished equipment are some of the major factors restraining the growth of this market.
The laboratory freezers market is segmented by product type, end user, and region. This research report discusses the key market drivers, restraints, opportunities, and challenges in the global market and its submarkets. Based on product type, the market is segmented into freezers, refrigerators, and cryopreservation systems. The freezers segment accounted for the largest share of the market in 2015, and is expected to grow at a significant CAGR during the forecast period. Technological advancements in freezers and increasing use of plasma freezers as a result of the growing demand for plasma from biopharmaceutical companies are driving the growth of this market segment.