Laboratory Refrigerators and Freezers Market, by Product (Refrigerators (Stand alone and Portable) and Freezers (Low Temperature and Ultra Low Temperature)), by End User (Hospitals, Research Institutes, Blood Banks, and Others), by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2019 – 2027

  • To Be Published : Aug 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Laboratory refrigerators and freezers are used for preservation of specimen samples, blood samples, blood plasma, and other products including vaccines, syringes, etc. giving it a broad range of applications. These are highly sterilized and maintained at the required standards for prevention from bacterial or any other contamination. They are supposed to maintain a constant temperature, in order to minimize the risk of contamination and explosion (in case of volatile products). A refrigerator or freezer typically contains – condenser, compressor, evaporator, and expansion valve. Freezer is used when the products are to be maintained at a temperature below the freezing point.

Global Laboratory Refrigerators and Freezers Market Drivers

Adoption of strategies such as collaboration, partnerships, merger, and acquisitions by the key players is expected to drive the global laboratory refrigerators and freezers market growth. For instance, in May 2018, Phononic, Inc., partnered with Thermo Fischer Scientific, a biotechnology product development company for creating an exclusive product line in healthcare and life sciences. This agreement also includes development of Thermo Fischer Scientific‘s TSX 505 series of laboratory refrigerators. Hence, such partnerships are expected to accelerate the global laboratory refrigerators and freezers market growth.

Furthermore, key players are constantly introducing new product into the market, which is expected to propel the global laboratory refrigerators and freezers market growth. For instance, in June 2016, Phononic Inc. launched a product, medical grade under-counter refrigerator, which was added to its Evolve brand. It is used for storage of pharmaceutical drugs, vaccines, and medical devices. The refrigerator provides high stability in regulating temperature and a monitoring software. It also has batter back-up facility and noise producing level is very low (less than 35 decibels).

Furthermore, in February 2019, Panasonic Health Co. launched a new refrigerator, which is going to be used for preservation of pharmaceutical drugs, vaccine, high–value samples and specimens. It has – 300C freezer (free natural refrigerants used) and invertor compressor, which helps in reduction of power consumption. Hence, introduction of new products is expected to, drive the global laboratory refrigerators and freezers market growth.

Global Laboratory Refrigerators and Freezers Market Regional Analysis

North America is expected to hold a dominant position in the global laboratory refrigerators and freezers market, owing to increase in number of blood banks, influencing positively North America’s laboratory refrigerators and freezers market growth. According to Americas Blood Centers, there are over 600 blood collection centers present in the U.S., 2018, and these blood collection centers are expected to require more number of laboratory refrigerators and freezers for storing the blood plasma and other products. Hence, this may increase the demand for laboratory refrigerators and freezers in North America and thereby, driving the global laboratory refrigerators and freezers market growth.

Global Laboratory Refrigerators and Freezers Market Restraints

Manufacturers are constantly developing new products in laboratory refrigerators and freezers. This further adds up into final cost, making these products expensive, which may hinder the global laboratory refrigerators and freezers market growth. For instance, one TSX Series Ultra Low Temperature Freezer, a product of Thermo Fischer Scientific costs around US$ 21,908. Such high costs of laboratory refrigerators and freezers may lead to lesser adoption in emerging economies and thereby, restricting the global laboratory refrigerators and freezers market growth.

Global Laboratory Refrigerators and Freezers Market Key Players

Some of the major players operating in the global laboratory refrigerators and freezers market include, Thermo Fischer Scientific, Phononic Inc., Philipp Kirsch GmbH, Haier Biomedical, Panasonic Healthcare Co., Ltd., VWR Corporation, Eppendorf AG, Bionics Scientific Technologies Ltd., Helmer Scientific, and Aegis Scientific Inc.

Global Laboratory Refrigerators and Freezers Market Taxonomy

The global laboratory refrigerators and freezers market is segmented on the basis of product type, end user, and region. 

By Product Type

  • Refrigerator
  • Stand alone
  • Portable
  • Freezer
  • Low Temperature
  • Ultra Low Temperature

By End User

  • Hospitals
  • Research Institutes
  • Blood Banks
  • Others

By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Smiley face

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
Smiley face

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

Choose License Type

"How Can I Help You" ?

Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.

[email protected]

Key Benefits

  • Custom Research Solution

    Talk to our research consultant to design an exclusive report as per your research needs.

  • Customer Fulfilment

    We aim to fulfil client's research demands with tailored research solutions.

  • Quick Turnaround Time Reports

    We aim to provide research studies in quickest turnaround time and in a much cost effective manner.

  • 360-degree Approach

    We cover each industry from supply and demand side with an aim to provide a most holistic research study.

  • Assured Quality

    We strive to provide most accurate and reliable research findings in our research reports.