North America Laboratory Freezers Market estimated to grow at a CAGR of 5% from

Posted by rohan on January 19th, 2018

The North America Laboratory Freezers Market is worth USD 0.98 billion in 2016 and estimated to grow at a CAGR of 5%, to reach USD 1.25 billion by 2021. The North America Laboratory Freezers market is developing at a remarkably quick speed.

Laboratory freezers are used to provide indispensable storage space for everything from reagents to tissue samples. Lab freezers can be chest format or upright. They are usually equipped with adjustable shelves designed to store various types of sample containers. Some of the common features are programmable thermostats and temperature monitor systems, as well as alarms that sound in cases of power failure. Standard freezers usually maintain a temperature just below freezing low whereas laboratory freezers are capable of temperatures of -80 degrees Celsius or lower.

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The significant drivers for Laboratory Freezers market are rising geriatric population, technical augmentation, infrastructural upgradation in healthcare facilities and research laboratories, and rise in medical tourism will drive the North America biomedical refrigerators and freezers market size. Developments in regenerative medication, drug discovery and bio-banking techniques coupled with increasing research activities in the field of biomedical sciences should boost the development of advanced products. Existence of big number of local players providing cheaper refurbished equipment, maintenance costs and energy costs of biomedical refrigerators and freezers limit this industry.

The North America market for Laboratory Freezers is segmented on the basis of Product, end user and region. Based on product, the market is segmented into Ultra-Low Freezer, Blood Bank Refrigerator, Pharmacy Refrigerator, Cryopreservation, Plasma Freezer, Explosion-Proof Freezer, Enzyme Freezer, and Chromatography Refrigerator. Based on end user, the market is segmented into hospitals, medical laboratories, pharmacies, blood banks, academic & research institutes, and pharmaceutical and biotechnology companies. Blood bank refrigerators were most valued in 2016, because of rising government expenditure, growing number of surgical procedures and rising demand for blood bank refrigerators in scientific, medical and research sectors. Laboratory refrigerators, freezers and ultra-low temperature freezers are also expected to witness substantial growth during the forecast period.

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The North America market has been geographically segmented into segmented into US, Canada and Mexico. North America has the highest no. share in this market .USA has the highest demand followed by Canada and Mexico. The North America region is largely driven by medical concerns.

VWR Corporation (U.S.), ARCTIKO A/S (Europe), Biomedical Solutions Inc. (U.S.), EVERmed S.R.L. (Italy), Philipp Kirsch GmbH (Germany), Thermo Fisher Scientific Inc. (U.S.), Haier Biomedical (China), Eppendorf AG (Germany), Helmer Scientific (U.S.), and Panasonic Healthcare Co., Ltd. (Japan).are the leaders in the North America Laboratory Freezers market.

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