According to the new market research report “Laboratory Freezers Market by Product (Cryopreservation, Plasma Freezer, Explosion-Proof Freezer, Enzyme Freezer, Ultra-Low Freezer, Blood Bank Refrigerator, Pharmacy Refrigerator, Chromatography Refrigerator) & by End User – Global Forecast to 2021„, published by MarketsandMarkets™,The Global Laboratory Freezers Market is projected to reach USD 3.76 Billion by 2021 at a CAGR of 4.6% from 2016 to 2021.
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The increasing number of organs transplant procedures, growing demand for blood and blood components, and technological advancements in freezers and refrigerators are the key factors driving the growth of the laboratory freezers market. However, factors such as increasing use of refurbished equipment and intense pricing pressure on manufacturers are restraining the growth of this market.
In this report, the laboratory freezers market is segmented by product type, end user, and region. Based on product type, the market is segmented into freezers, refrigerators, and cryopreservation systems. The freezers segment accounted for the largest share in 2015, primarily due to the high demand for freezers for the storage of laboratory samples as a result of the growing number of laboratory tests globally, coupled with the growth in demand for blood and plasma for transfusion and plasma fractionation procedures. However, the cryopreservation systems segment is estimated to register a higher growth due to the growing use of cryopreservation techniques and equipment for the storage of cell lines.
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Thermo Fisher Scientific Inc. is one of the top players in the market. The company operates in more than 180 countries across North America, Europe, Asia, and Latin America. It offers HCS instruments and software among other products. The company focuses on product launches as its key business strategy. In May 2016, the company launched the Invitrogen Evos FL Auto 2 Imaging System to provide rapid capture and analysis of higher-quality images in live-cell imaging experiments. In addition, in January 2016, Thermo Fisher Scientific launched the Cell Insight CX7 high-content analysis platform. This strengthened the company’s hold in the HCS market.
The key strategies adopted by major players in the global high-content screening market are agreements, partnerships & collaborations, acquisitions, product launches, and geographic expansions. In this competitive market, global players aim to maintain their market position through continuous investments in R&D with a focus on developing innovative solutions or enhancing their existing solutions.
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