Laboratory Freezers Market Expected to Reach US ~$7.20 billion and CAGR 5.4% by 2030 – Polaris Market Research
The global Laboratory Freezers Market size is expected to reach USD 7.20 billion by 2030 according to a new study by Polaris Market Research.
The key factors responsible for the market growth include the rapidly rising demand for lab freezers due to their proper temperature-controlled storage of COVID-19 vaccines. The range of laboratories, COVID-19 trying-out locations, and processing centers handling SARS-CoV-2 samples, reagents, and vaccinations increased exponentially as the COVID-19 spread worldwide. As a result, the need for laboratory refrigerators, freezers, and low-temperature freezers has risen to aid pattern processing, checking out, and vaccine improvement laboratories.
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New general-purpose laboratory refrigerators and freezers provide reliable refrigeration capabilities while promoting a quiet working environment for clinical and industrial laboratories looking for technologies that can meet sustainability goals and maintain material safety. The TSG Series is designed to protect general research and clinical materials in a consistent manner, with temperature ranges that meet both short- and long-term storage requirements, including COVID-19 vaccine storage regulations.
Based on end-use, the blood banks segment accounted for the leading share in the market in 2021. The increasing prevalence of blood disorders including sickle-cell anemia, blood cancer, and hemophilia, is driving demand for whole blood and blood components, which is driving growth in this end-use sector. The majority of patients with hemophilia in the US are diagnosed when they are very young.
As per the Centers for Disease Control and Prevention(CDC), the median age at diagnosis for persons with mild hemophilia is 36 months, eight months for moderate hemophilia, and one month for severe hemophilia. Hemophilia is diagnosed using a particular blood test, and most babies can be screened shortly after delivery. The rising vaccine development for the emerging infectious disease and rising cases of organ transplantations is driving the laboratory freezers industry during the forecast period.
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In the future, this increased focus and expenditure on vaccine development will fuel the growth of clinical research trials for vaccines. Organ transplantation procedures are becoming more common, demanding the preservation of organs under precise cooling settings to keep them healthy, make them available for treatments, and promote market growth. According to Organdonor.gov, around 39,000 transplants will be performed in 2020.
Market players such as Middleby Corporation, Avantor, Inc, Felix Storch, Inc., BioLife Solutions, Inc., Helmer Scientific, Blue Star Limited, ChanghongMeiling Co. Ltd., Evermed s.r.l., Arctiko A/S, Haier Biomedical, Liebherr, Philipp Kirsch Gmbh, Standex International Corp., PHC Holdings Corp, and Thermo Fisher Scientific, Inc. are some significant players operating in the global market.
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Polaris Market Research has segmented the laboratory freezers market report on the basis of product, end-use, and region
Laboratory Freezers, Product Outlook (Revenue – USD Billion, 2018 – 2030)
- Ultra-Low Temperature
- Flammable Material
- Laboratory Refrigerators
- Blood Bank Refrigerators
- Pharmacy Refrigerators
- Flammable Material Refrigerators
- Explosion-proof Refrigerators
- Chromatography Refrigerators
Laboratory Freezers, End-Use Outlook (Revenue – USD Billion, 2018 – 2030)
- Blood Banks
- Pharmaceutical & Biotechnology Companies
- Academic & Research Institutes
- Medical Laboratories
Browse detailed report with in-depth TOC – Laboratory Freezers Market
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