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.
What Drives the Market?
1. Increasing Demand for Blood and Blood Components for Transfusion and Production of Biopharmaceuticals
2. Growing Number of Organ Transplant Procedures
3. Rising Government Support for Research Activities and Clinical Trials
4. Technological Advancements in Laboratory Freezers and Refrigerators
The increasing demand for blood & blood components and growing number of organ transplant procedures are the key factors driving the growth of the global market. However, the availability of low-cost products from a large number of local players and increasing use of refurbished equipment are some of the major factors restraining the growth of this market.
Based on end user, the laboratory freezers market is segmented into hospitals, medical laboratories, pharmacies, academic & research institutes, blood banks, and pharmaceutical & biotechnology companies. The blood banks segment...Read More
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