Laboratory Freezers Market

Laboratory Freezers Market

Laboratory Freezers Market Forecasts to 2028 - Global Analysis By Product Type (Freezers,Refrigerators, Cryopreservation Systems and Other Product types), End Users(Blood Banks, Biotech Companies, Laboratory equipment manufacturers, Laboratory freezer manufacturers, Pharmaceutical &, Biotechnology Companies, Academic & Research Institutes and Original equipment manufacturers) and By Geography

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Published: 2023 ID: SMRC23124

This report covers the impact of COVID-19 on this global market

Years Covered


Estimated Year Value (2022)

US $4.83 BN

Projected Year Value (2028)

US $7.46 BN

CAGR (2022 - 2028)


Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Highest Growing Market

Asia Pacific

According to Stratistics MRC, the Global Laboratory Freezers Market is accounted for $4.83 billion in 2022 and is expected to reach $7.46 billion by 2028 growing at a CAGR of 7.5% during the forecast period. A laboratory freezer is a carefully constructed piece of lab equipment with a thermally insulated compartment and a heat pump that transfers heat from the interior of the device to its surroundings. Depending on the substance being frozen, the interior of the freezer is cooled to a temperature that is at or much below the freezing point of water. For the preservation of various biological products like blood, tissues, serum, vaccine samples, and so forth, laboratory freezers are a common piece of equipment in blood banks, academic institutions, pharmaceutical companies, and biotechnology businesses. The biological samples that are being examined and used in experiments can be kept in the freezers.

According to the U.S. Department of Energy (DOE), laboratory freezers use approximately 3 billion kWh of electricity annually in the U.S., which is equivalent to approximately 2% of all electricity consumed in the country.

Market Dynamics:


Blood and blood components are in greater demand for transfusions and to support cancer treatment.

The demand for blood and blood components is growing on a global scale. Approximately 21 million blood components are transfused annually in the US alone, according to the American National Red Cross. The American Cancer Society estimates that there will be 1.8 million new cancer cases in the US in 2020. Patients undergoing cancer surgery and those with blood cancers like leukemia and lymphoma have a high need for blood and blood components. Additionally, the WHO reported that from 2013 to 2018, there was an increase of 7.8 million voluntary unpaid blood donations worldwide. The demand for lab freezers and refrigerators in blood banks will rise as a result of the rise in global blood donation and the demand for blood and blood products.


Increasing utilization of reconditioned laboratory freezers

Hospitals, laboratories, and blood banks all make significant capital expenditures for the cold storage of biomedical samples. Since the average cost of an ultra-low-temperature freezer is between $10,000 and $25,000, smaller blood banks, hospitals, and laboratories cannot afford them. Refurbished medical equipment typically costs between 50% and 60% less than brand-new equipment. The adoption of technologically advanced medical devices in healthcare systems throughout these countries is constrained by the inadequate public healthcare expenditure for infrastructure improvement in many emerging and underdeveloped countries. During the forecast period, the high demand for refurbished lab freezers and refrigerators will restrain the growth of the global laboratory freezer market to some extent.


Development of vaccines for new infectious diseases

Due to the COVID-19 pandemic, there has been a greater focus on developing vaccines for infectious diseases that are just starting to emerge. The growth of clinical research trials for vaccines in the upcoming years will be aided by the increased focus on and investments in vaccine development. As most vaccines must be stored at low temperatures during the development and distribution processes, this would in turn spur market growth for lab freezers and refrigerators. Therefore, players in the laboratory freezer market will have an opportunity in the years to come as a result of the growing investments in and attention to vaccine development for emerging infectious diseases.


Lack of knowledge regarding the benefits of specialized lab refrigerators and freezers

There are some clinics, laboratories, blood banks, and pharmacies where there is a lack of knowledge regarding how to use medical and lab refrigerators properly. Small chemist shops or blood bank providers might not be aware of the advantages of using particular refrigerators to store particular specimens. Domestic refrigerators don't offer the best temperature conditions for preserving things like DNA test samples, blood, and blood components. Domestic refrigerators are made with efficiency in mind, making some compromises in terms of temperature accuracy to allow for some temperature variability. This minimizes the amount of time and frequency the compressor needs to run to cool the storage chamber. However, precise temperature control, dependability, and storage capacity are major factors in the design of lab freezers. The samples could become contaminated, and the results could be skewed if they are not stored in the best possible conditions. As a result, the development of this market may be hindered by a lack of knowledge regarding the proper storage of medical specimens and the upkeep of laboratory refrigerators and freezers.

Covid-19 Impact:

The COVID-19 pandemic has had a very positive long-term effect on the market for laboratory freezers. The market for lab freezers and refrigerators initially experienced a decline in early 2020 as a result of lockdowns and quarantine measures. However, as the illness spread around the globe, there was a sharp increase in the number of labs, COVID-19 testing locations, and processing facilities in charge of handling SARS-CoV-2 samples, reagents, and vaccines. The need for laboratory refrigerators, freezers, and ultra-low-temperature freezers to support sample processing, testing, and vaccine development labs consequently increased.

The freezer segment is expected to be the largest during the forecast period

During the forecast period, the freezer segment is anticipated to contribute the largest revenue share. The best option for both industry and scientific research is an ultra-freezer, which is ideal for blood banks, transfusion facilities, hospitals, industrial research labs, and medical research institutions. The ability to store samples at low temperatures for extended periods of time is the fundamental benefit of an ultra-freezer; as a result, reference applications often involve very sensitive samples. The segment's revenue growth is being driven by these elements.

The blood banks segment is expected to have the highest CAGR during the forecast period

The segment of blood banks is anticipated to experience a significantly rapid revenue CAGR during the forecast period, which can be attributed to the increasing demand for whole blood and blood components as a result of the prevalence of sickle cell anemia, hemophilia, and blood cancer, as well as the need for plasma from biopharmaceutical producers for use in plasma fractionation techniques. So that they can be used most effectively based on the needs of the patient, blood banks divide the samples they receive into a variety of parts. To process samples quickly and precisely, blood banks employ teams of qualified laboratory experts. They work in anonymity and under generally calm circumstances, in stark contrast to their colleagues in busy hospitals. The segment's revenue is increasing due to these factors.

Region with highest share:

North America held the largest market share for laboratory freezers. The high healthcare costs in the US and Canada, as well as the rising R&D expenditure on pharmaceuticals and biotechnology in this region, are to blame for the large share of this regional segment. The proliferation of laboratory freezer and refrigerator producers in the area also significantly contributes to the market's expansion.

Region with highest CAGR:

The market in Asia Pacific is anticipated to experience the highest revenue CAGR over the course of the forecast period. This growth is attributed to increased government initiatives, the presence of numerous local businesses that sell branded goods, the increasing frequency of cell collection and cryopreservation for stem cell banks, and favorable funding conditions. For instance, the opening of Haier's new deep freezer production facility at its first industrial park in Pune, India, was announced in February 2022. Haier is the market leader in consumer electronics and home appliances worldwide. With this action, Haier has strengthened its support for the 'Make in India' program of the Indian Central Government, which seeks to promote domestic manufacturing by producing high-end goods to satisfy Indian consumers' needs. The investment would also strengthen Haier's position in India and increase its capacity to produce high-quality deep freezer equipment annually.

Key players in the market

Some of the key players in Laboratory Freezers market include Agilent Technologies, Inc , Antylia Scientific, ARCTIKO A/S, Arxspan a Bruker Company, Autoscribe Informatics., B Medical Systems, BioLife Solutions, Inc, Cerner Corporation, Changhong Meiling Co. Ltd., Dassault Systèmes, Glen Dimplex Medical Appliances, KW Apparecchi Scientifici SRL, LabVantage Solutions Inc., McKesson Corporation, PHC Holdings Corporation, Philipp Kirsch GmbH, Refrigerated Solutions Group, Scientific Equipment Repair, So-Low Environmental Equipment Co. Ltd., Standex International Corporation, Stericox India Private Limited, Thermo Fisher Scientific, Inc and Vestfrost Solutions A/S.

Key Developments:

In January 2022, Cryoport, Inc., which is a worldwide leader in temperature-controlled supply chain solutions for the life sciences industry, announced a strategic collaboration with Cell Matters, S.A. to provide end-to-end cryopreservation services for leukapheresis-derived therapies continuing to support both autologous and allogeneic cell therapies. The businesses will work together to devise a commercial strategy for promoting these services.

In March 2021, Stirling Ultracold, which is a privately owned ingenious development company of Ultra-low Temperature (ULT) freezers, announced a definitive agreement to merge with BioLife Solutions in order to combine expert knowledge and widen individual product offerings for biopharma research as well as life science clients. Following the closure of this deal in the early second quarter of 2021, BioLife wants to preserve the Stirling Ultracold brand and current team in Athens, Ohio - indicating business-as-usual for existing customers and partners.

In October 2021, EIN released an article on the laboratory freezer market, sourced from TBRC's Global Laboratory Freezers Market report. TBRC global laboratory freezers market report includes -20°C to -40°C, -40°C to -80°C, less than -80°C, bio-banks and blood banks, pharmaceutical.

Product Types Covered:
• Freezers
• Refrigerator
• Cryopreservation Systems
• Other Product types

End Users Covered:
• Blood Banks
• Biotech Companies
• Laboratory Equipment Manufacturers
• Biotechnology Companies
• Academic & Research Institutes
• Original Equipment Manufacturers
• Suppliers
• Distributors of Laboratory Freezers
• Medical Laboratories
• Hospitals
• Pharmacies
• Healthcare Service Providers
• Diagnostic Centers
• Medical Institutes
• Research and Consulting Firms
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Laboratory Freezers Market, By Product Type
5.1 Introduction
5.2 Freezers
5.2.1 Ultra Low Temperature Freezers
5.2.2 Laboratory Freezers
5.2.3 Plasma Freezers
5.2.4 Enzyme Freezers
5.2.5 Explosion-Proof Freezers
5.2.6 Flammable Material Freezers
5.3 Refrigerators
5.3.1 Laboratory Refrigerators
5.3.2 Blood Bank Refrigerators
5.3.3 Pharmacy Refrigerators
5.3.4 Flammable Material Refrigerators
5.3.5 Explosion-proof Refrigerators
5.3.6 Chromatography Refrigerators
5.4 Cryopreservation Systems
5.5 Other Product types

6 Global Laboratory Freezers Market, By End Users
6.1 Introduction
6.2 Blood Banks
6.3 Biotech Companies
6.4 Laboratory equipment manufacturers
6.5 Biotechnology Companies
6.6 Academic & Research Institutes
6.7 Original Equipment Manufacturers
6.8 Suppliers
6.9 Distributors of Laboratory Freezers
6.10 Medical Laboratories
6.11 Hospitals
6.13 Pharmacies
6.14 Healthcare Service Providers
6.15 Diagnostic Centers
6.16 Medical Institutes
6.17 Research and Consulting firms
6.18 Other End Users

7 Global Laboratory Freezers Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa

8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies

9 Company Profiling
9.1 Agilent Technologies, Inc
9.2 Antylia Scientific
9.4 Arxspan a Bruker Company
9.5 Autoscribe Informatics.
9.6 B Medical Systems
9.7 BioLife Solutions, Inc.
9.8 Cerner Corporation
9.9 Changhong Meiling Co. Ltd.
9.10 Dassault Systèmes
9.11 Glen Dimplex Medical Appliances
9.12 KW Apparecchi Scientifici SRL
9.13 LabVantage Solutions Inc.
9.14 McKesson Corporation
9.15 PHC Holdings Corporation
9.16 Philipp Kirsch GmbH
9.17 Refrigerated Solutions Group
9.18 Scientific Equipment Repair
9.19 So-Low Environmental Equipment Co. Ltd.
9.20 Standex International Corporation
9.21 Stericox India Private Limited
9.22 Thermo Fisher Scientific, Inc.
9.23 Vestfrost Solutions A/S

List of Tables
1 Global Laboratory Freezers Market Outlook, By Region (2020-2028) ($MN)
2 Global Laboratory Freezers Market Outlook, By Product Type (2020-2028) ($MN)
3 Global Laboratory Freezers Market Outlook, By Freezers (2020-2028) ($MN)
4 Global Laboratory Freezers Market Outlook, By Ultra Low Temperature Freezers (2020-2028) ($MN)
5 Global Laboratory Freezers Market Outlook, By Laboratory Freezers (2020-2028) ($MN)
6 Global Laboratory Freezers Market Outlook, By Plasma Freezers (2020-2028) ($MN)
7 Global Laboratory Freezers Market Outlook, By Enzyme Freezers (2020-2028) ($MN)
8 Global Laboratory Freezers Market Outlook, By Explosion-proof Freezers (2020-2028) ($MN)
9 Global Laboratory Freezers Market Outlook, By Flammable Material Freezers (2020-2028) ($MN)
10 Global Laboratory Freezers Market Outlook, By Refrigerators (2020-2028) ($MN)
11 Global Laboratory Freezers Market Outlook, By Laboratory Refrigerators (2020-2028) ($MN)
12 Global Laboratory Freezers Market Outlook, By Blood Bank Refrigerators (2020-2028) ($MN)
13 Global Laboratory Freezers Market Outlook, By Pharmacy Refrigerators (2020-2028) ($MN)
14 Global Laboratory Freezers Market Outlook, By Flammable Material Refrigerators (2020-2028) ($MN)
15 Global Laboratory Freezers Market Outlook, By Explosion-proof Refrigerators (2020-2028) ($MN)
16 Global Laboratory Freezers Market Outlook, By Chromatography Refrigerators (2020-2028) ($MN)
17 Global Laboratory Freezers Market Outlook, By Cryopreservation Systems (2020-2028) ($MN)
18 Global Laboratory Freezers Market Outlook, By Other Product types (2020-2028) ($MN)
19 Global Laboratory Freezers Market Outlook, By End Users (2020-2028) ($MN)
20 Global Laboratory Freezers Market Outlook, By Blood Banks (2020-2028) ($MN)
21 Global Laboratory Freezers Market Outlook, By Biotech Companies (2020-2028) ($MN)
22 Global Laboratory Freezers Market Outlook, By Laboratory equipment manufacturers (2020-2028) ($MN)
23 Global Laboratory Freezers Market Outlook, By Biotechnology Companies (2020-2028) ($MN)
24 Global Laboratory Freezers Market Outlook, By Academic & Research Institutes (2020-2028) ($MN)
25 Global Laboratory Freezers Market Outlook, By Original Equipment Manufacturers (2020-2028) ($MN)
26 Global Laboratory Freezers Market Outlook, By Suppliers (2020-2028) ($MN)
27 Global Laboratory Freezers Market Outlook, By Distributors of Laboratory Freezers (2020-2028) ($MN)
28 Global Laboratory Freezers Market Outlook, By Medical Laboratories (2020-2028) ($MN)
29 Global Laboratory Freezers Market Outlook, By Hospitals (2020-2028) ($MN)
30 Global Laboratory Freezers Market Outlook, By Pharmacies (2020-2028) ($MN)
31 Global Laboratory Freezers Market Outlook, By Healthcare Service Providers (2020-2028) ($MN)
32 Global Laboratory Freezers Market Outlook, By Diagnostic Centers (2020-2028) ($MN)
33 Global Laboratory Freezers Market Outlook, By Medical Institutes (2020-2028) ($MN)
34 Global Laboratory Freezers Market Outlook, By Research and Consulting firms (2020-2028) ($MN)
35 Global Laboratory Freezers Market Outlook, By Other End Users (2020-2028) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.

Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.

For more details about research methodology, kindly write to us at

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