As per this study, the Global Laboratory Refrigerator And Oven Market was valued USD 4.14 BN (by revenue) in 2022 and is anticipated to reach USD 6.4 BN by 2030 with a CAGR of 5.6%.
Laboratory refrigerator is referred to an appliance used in the research laboratory to preserve the biological samples, chemical compounds, and specimens. It is mainly used for storing blood components, vaccines, pharmaceutical supplies, and other degradable compounds. Whereas laboratory oven or laboratory furnace refers to convection appliance, widely adopted for annealing, polymer curing, sterilizing biohazards, and sample testing.
Market Dynamics
The rising number of blood banks, growing need of food testing and increasing tissue transplantation is driving the market growth. Also, the increasing prevalence of chronic diseases resulting in higher demand for vaccines, blood and blood components is pushing the demand for laboratory refrigerators. Ongoing advancement in biomolecule refrigeration and sterilization techniques is further fueling the market growth. Rising count of hospitals, R&D laboratories, diagnostic centers and blood banks is again boosting the market growth. However, high cost of laboratory ovens & refrigerators along with increasing adoption of refurbished equipment is likely to hinder the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of laboratory refrigerator and oven.
Market Segmentation
The broad laboratory refrigerator and oven market has been sub-grouped into product, and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Type
By Sub-Type
- Upright
- Undercounter
- Explosion-proof
- Cryogenic
By Temperature
By Application
- Biotech
- Pharmaceutical
- Medical
- Life Science
- Research Labs
By Sub-Application
- Sample Storage
- Reagent Storage
- Temp. Controlled Testing
Regional Analysis
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for laboratory refrigerator and oven in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Laboratory Refrigerator And Oven Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the laboratory refrigerator and oven market include AGA Marvel, Azbil Telstar, S.L., Carbolite GERO Limited, Chart Industries, Cole-Parmer Instrument Company, Eppendorf AG, Haier Biomedical, Helmer Scientific, Labcold Ltd., NuAire Inc., Panasonic Healthcare Holdings, Philipp Kirsch GmbH, Sheldon Manufacturing, Thermo Fisher Scientific, Worthington Industries. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
In case you have any custom requirements, do write to us. Our research team can offer a customized report as per your need.