Blood Bank Refrigerators Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Canada, Germany, UK, China - Size and Forecast 2023-2027

Published: Oct 2023

Pages: 156

SKU: IRTNTR76432

Snapshot

Blood Bank Refrigerators Market Forecast 2023-2027

The Blood Bank Refrigerators Market size is estimated to grow by USD 403.05 million at a CAGR of 6.29% between 2022 and 2027. The rise in road accidents and sports injuries necessitates the availability of advanced medical devices for surgical procedures and blood transfusions. Additionally, the increasing number of hospitals and blood banks indicates a growing need for equipment used in dialysis and blood transfusion procedures, highlighting the importance of innovation and efficiency in this market. The surge in road accidents and sports-related injuries is a significant catalyst for market expansion. These incidents contribute prominently to the growing demand for surgeries that often require the utilization of donor blood for transfusions. Many of these injuries, such as dislocations or severe blood loss, necessitate surgical interventions that rely on stored blood. This underscores the critical need for advancements and innovation in healthcare infrastructure, particularly in developing nations, to effectively address the demand for blood bank refrigeration solutions.

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Market Segmentation

This report provides a detailed analysis of the market by product (Standard electric refrigerators, Solar-powered refrigerators, and Ice-lined refrigerators ), End-user (Hospitals and diagnostic centers, Stand-alone blood bank centers, and Others ), and Geography (North America, Europe, Asia, and Rest of World (ROW))

By Product

The standard electric refrigerators segment is estimated to witness significant growth during the forecast period. There is a significant growth in the standard electric refrigerators segment due to its easy availability when compared to solar-powered and ice-lined refrigerators. Additionally, this segment is able to function effectively and efficiently provided there is a stable electricity supply. In addition, it mainly operates on AC voltage of 110V/60Hz or 220V/50Hz mains supply.

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The standard electric refrigerators segment was the largest segment and was valued at USD 540.59 million in 2017. Some of the main advantages of the standard electric refrigerators segment include accurate temperature control, uniformity of refrigerated blood, safe blood storage, visual and audible alarms in case of power failure, low or high-temperature settings, and built-in temperature recorders. For example, the BR models offered by B Medical Systems incorporate all the abovementioned features. Furthermore, several market players are offering a wide range of standard electric refrigerators which is fuelling its adoption. For example, Helmer Scientific, one of the major companies in the market, offers a broad range of high-quality standard electric refrigerators. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth analysis during the forecast period.

By End-user

The growing need for medical support is significantly contributing to the growth of the hospital segment. This segment is rapidly expanding its services related to medical care due to an increase in their number and the convenience they provide. As these medical care facilities comprise surgical procedures requiring blood transfusions, it is fueling the demand for blood bank refrigerators in hospitals. Several large hospitals, including multi-specialty hospitals and hospital groups, work under government sponsorship or through private entities. Factors such as the increasing number of hospitals to serve the population globally, as well as the growing healthcare expenditure due to rising needs, are fueling the growth of this segment, which in turn will drive market growth during the forecast period.

By Region

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North America is estimated to contribute 41% to the growth of the global market forecasting during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. Some of the main factors that are significantly contributing to the growth of the market in North America include the rising number of road accidents and sports injuries, rapid growth of various surgical procedures, increasing number of donors, and rising prevalence of different types of cancer.

In addition, other factors such as the development of advanced products, the introduction of space-saving refrigerators by manufacturers, and the presence of global and regional market players are positively impacting market research and growth in the region. There is an increase in the number of hospitals and clinics in North America which provide organ transplants in the region. Furthermore, the increasing healthcare expenditures and a growing number of research activities with the growing requirement for blood components are expected to drive the market growth in the region during the forecast period.

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Key Market Players

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

Aegis Scientific: The company offers services such as GL RG 50M glacier series, GL RG 25M glacier series, and GL RF glacier series.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Dynamics and Customer Landscape

The market is essential for storing blood components in the immunohematology department. These refrigerators use a refrigeration system with components like an electrically powered compressor, condenser, capillary tube, expansion valve, evaporator, and thermostat to maintain the required temperature. They come in tabletop and floor units and often include an emergency power system. The market is driven by the demand for blood components due to road accidents, sports injuries, army injuries, and surgeries. Governments in developing countries are investing in healthcare infrastructure, contributing to market growth. Technological advancements and innovations in these refrigerators are also shaping the market. Analytical depictions of the global blood bank refrigerators market show current trends, future estimations, investment pockets, and the potency of buyers and suppliers, indicating competitive intensity.

Key Market Driver

The rise in number of road accidents and sports injuries is a key factor driving market growth. Road accidents and sports-related injuries are two major factors contributing to the increasing number of surgeries that necessitate the use of donor blood for transfusions in the country. Some of these injuries result in dislocations or significant blood loss, requiring patients to undergo surgeries that involve the use of stored blood. This highlights the importance of innovation and technological advancements in healthcare infrastructure, especially in developing countries, to meet the demand for blood bank refrigerators. Correction of dislocations and repair of blood vessels are among the reasons patients undergo these surgeries. The surgical process includes the transfusion of blood from blood bags stored in blood bank refrigerators to preserve them. Consequently, there will be a higher demand for blood bank refrigerators from hospitals, clinics, and blood banks to store blood and its components.

Significant Market Trends

A key factor shaping the market growth is the presence of value-added software and hardware products. Several market players are striving to dominate the market share by offering various additional software and hardware products to end-users. For example, B Medical Systems launched a Data Monitoring Network (DMM), which is software for the collection, long-term recording, and visualization of temperature data.

Moreover, the main advantage of this software is that it offers an integrated event and activity history of all appliance components as well as a graphical visualization of all temperature curves. Therefore, the emergence of such software facilitates end-users to access the data within the entire network via one central database along with savings in terms of money and time as it eliminates the requirement for frequent changes in recorder paper, ink, and battery. Hence, such factors are positively impacting the market which in turn will drive the market growth during the forecast period.

Major Market Challenges

The high cost of blood bank refrigerator equipment is one of the key challenges hindering the blood bank refrigerator market growth. The high cost associated with advanced products for storing and transporting blood units is limiting their acceptability and adoption among end-users, particularly small-scale blood banks and hospitals. For example, the blood bank refrigerators introduced by Thermo Fisher Scientific are in the price range of USD4,000-USD15,000.

Moreover, besides the high upfront cost, there is a significant cost associated with the regular maintenance of these refrigerators to ensure that they work efficiently without any breakdowns. In addition, the probability of replacement purchases is significantly low due to the equipment life of 8-10 years. Hence, such factors are negatively impacting the market, which in turn will hinder the market growth during the forecast period.

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Key Market Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.

Product Outlook
- Standard electric refrigerators
- Solar-powered refrigerators
- Ice-lined refrigerators
End-user Outlook
- Hospitals and diagnostic centers
- Stand-alone blood bank centers
- Others
Geography Outlook
- North America
  - The U.S.
  - Canada
- Europe
  - The U.K.
  - Germany
  - France
  - Rest of Europe
- Asia
  - China
  - India
- ROW
  - Australia
  - Argentina
  - Brazil

Market Analyst Overview

The market is crucial for storing reagents, blood cells, and plasma used in various medical procedures such as organ and bone marrow transplants, cardiovascular surgeries, and nephrology and dialysis. These refrigerators come in different types, including common indoor, transport, solar-powered, and ice-lined models. Market growth is driven by factors like healthcare industry advancements and the need for high-performance plasma freezers. Technological innovations such as external and wireless monitoring solutions enhance their efficiency. The market is influenced by government regulations, trade tariffs, and domestic and global brands competing to optimize value chains and meet the demand in emerging markets.

The market plays a critical role in the healthcare industry, storing blood and plasma in high-performance units equipped with temperature-alarm systems and monitoring capabilities. These refrigerators feature interconnecting tubing and insulated cabinets, ensuring safe storage. Governments of developing countries are key stakeholders, influencing market dynamics through regulations and tariffs. Tabletop units and cold storage devices are popular choices, with solar-powered and ice-lined systems emerging as sustainable options. Strategic growth analysis and value chain optimization are vital for companies to navigate emerging revenue pockets and address changes in market regulations.

Market Scope
Report Coverage	Details
Page number	156
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 6.29%
Market growth 2023-2027	USD 403.05 million
Market structure	Fragmented
YoY growth 2022-2023(%)	5.46
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 41%
Key countries	US, Canada, Germany, UK, and China
Competitive landscape	Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks
Key companies profiled	Aegis Scientific, ARCTIKO AS, Azenta Inc., BioLife Solutions Inc., Calibre Scientific Inc., Cardinal Health Inc., Climatic Testing Systems Inc., Eppendorf SE, Haier Smart Home Co. Ltd., LabRepCo LLC, Liebherr International Deutschland GmbH, Migali Industries Inc., Perley Halladay Associates Inc., PHC Holdings Corp., Philipp Kirsch GmbH, So Low Environmental Equipment Co. Inc., Stericox India Pvt. Ltd., The Middleby Corp., Thermo Fisher Scientific Inc., and Trane Technologies Plc
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the market between 2023 and 2027
Precise estimation of the market size and its contribution to the market in focus on the parent market
Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria
Companies landscape comparing criticality of inputs and factors of differentiation
Exclusive Matrix on companies position and classification
Accurate predictions about upcoming trends and changes in consumer behavior
Market growth and forecasting of the industry across North America, Europe, Asia, and the Rest of the World (ROW)
A thorough analysis of the market’s competitive landscape and detailed information about companies
Comprehensive analysis of factors that will challenge the growth of market companies

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Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 13: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global blood bank refrigerators market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on global blood bank refrigerators market 2017 - 2021 ($ million)

4.2 Product Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ million)

4.3 End-user Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ million)

4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

6.1 Market segments
- Exhibit 30: Chart on Product - Market share 2022-2027 (%)
- Exhibit 31: Data Table on Product - Market share 2022-2027 (%)

6.2 Comparison by Product
- Exhibit 32: Chart on Comparison by Product
- Exhibit 33: Data Table on Comparison by Product

6.3 Standard electric refrigerators - Market size and forecast 2022-2027
- Exhibit 34: Chart on Standard electric refrigerators - Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Data Table on Standard electric refrigerators - Market size and forecast 2022-2027 ($ million)
- Exhibit 36: Chart on Standard electric refrigerators - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Standard electric refrigerators - Year-over-year growth 2022-2027 (%)

6.4 Solar-powered refrigerators - Market size and forecast 2022-2027
- Exhibit 38: Chart on Solar-powered refrigerators - Market size and forecast 2022-2027 ($ million)
- Exhibit 39: Data Table on Solar-powered refrigerators - Market size and forecast 2022-2027 ($ million)
- Exhibit 40: Chart on Solar-powered refrigerators - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Solar-powered refrigerators - Year-over-year growth 2022-2027 (%)

6.5 Ice-lined refrigerators - Market size and forecast 2022-2027
- Exhibit 42: Chart on Ice-lined refrigerators - Market size and forecast 2022-2027 ($ million)
- Exhibit 43: Data Table on Ice-lined refrigerators - Market size and forecast 2022-2027 ($ million)
- Exhibit 44: Chart on Ice-lined refrigerators - Year-over-year growth 2022-2027 (%)
- Exhibit 45: Data Table on Ice-lined refrigerators - Year-over-year growth 2022-2027 (%)

6.6 Market opportunity by Product
- Exhibit 46: Market opportunity by Product ($ million)
- Exhibit 47: Data Table on Market opportunity by Product ($ million)

7 Market Segmentation by End-user

7.1 Market segments
- Exhibit 48: Chart on End-user - Market share 2022-2027 (%)
- Exhibit 49: Data Table on End-user - Market share 2022-2027 (%)

7.2 Comparison by End-user
- Exhibit 50: Chart on Comparison by End-user
- Exhibit 51: Data Table on Comparison by End-user

7.3 Hospitals and diagnostic centers - Market size and forecast 2022-2027
- Exhibit 52: Chart on Hospitals and diagnostic centers - Market size and forecast 2022-2027 ($ million)
- Exhibit 53: Data Table on Hospitals and diagnostic centers - Market size and forecast 2022-2027 ($ million)
- Exhibit 54: Chart on Hospitals and diagnostic centers - Year-over-year growth 2022-2027 (%)
- Exhibit 55: Data Table on Hospitals and diagnostic centers - Year-over-year growth 2022-2027 (%)

7.4 Stand-alone blood bank centers - Market size and forecast 2022-2027
- Exhibit 56: Chart on Stand-alone blood bank centers - Market size and forecast 2022-2027 ($ million)
- Exhibit 57: Data Table on Stand-alone blood bank centers - Market size and forecast 2022-2027 ($ million)
- Exhibit 58: Chart on Stand-alone blood bank centers - Year-over-year growth 2022-2027 (%)
- Exhibit 59: Data Table on Stand-alone blood bank centers - Year-over-year growth 2022-2027 (%)

7.5 Others - Market size and forecast 2022-2027
- Exhibit 60: Chart on Others - Market size and forecast 2022-2027 ($ million)
- Exhibit 61: Data Table on Others - Market size and forecast 2022-2027 ($ million)
- Exhibit 62: Chart on Others - Year-over-year growth 2022-2027 (%)
- Exhibit 63: Data Table on Others - Year-over-year growth 2022-2027 (%)

7.6 Market opportunity by End-user
- Exhibit 64: Market opportunity by End-user ($ million)
- Exhibit 65: Data Table on Market opportunity by End-user ($ million)

8 Customer Landscape

8.1 Customer landscape overview
- Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
- Exhibit 67: Chart on Market share by geography 2022-2027 (%)
- Exhibit 68: Data Table on Market share by geography 2022-2027 (%)

9.2 Geographic comparison
- Exhibit 69: Chart on Geographic comparison
- Exhibit 70: Data Table on Geographic comparison

9.3 North America - Market size and forecast 2022-2027
- Exhibit 71: Chart on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 72: Data Table on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 73: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 74: Data Table on North America - Year-over-year growth 2022-2027 (%)

9.4 Europe - Market size and forecast 2022-2027
- Exhibit 75: Chart on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 76: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 77: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 78: Data Table on Europe - Year-over-year growth 2022-2027 (%)

9.5 Asia - Market size and forecast 2022-2027
- Exhibit 79: Chart on Asia - Market size and forecast 2022-2027 ($ million)
- Exhibit 80: Data Table on Asia - Market size and forecast 2022-2027 ($ million)
- Exhibit 81: Chart on Asia - Year-over-year growth 2022-2027 (%)
- Exhibit 82: Data Table on Asia - Year-over-year growth 2022-2027 (%)

9.6 Rest of World (ROW) - Market size and forecast 2022-2027
- Exhibit 83: Chart on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
- Exhibit 84: Data Table on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
- Exhibit 85: Chart on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
- Exhibit 86: Data Table on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)

9.7 US - Market size and forecast 2022-2027
- Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)

9.8 Germany - Market size and forecast 2022-2027
- Exhibit 91: Chart on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 92: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 93: Chart on Germany - Year-over-year growth 2022-2027 (%)
- Exhibit 94: Data Table on Germany - Year-over-year growth 2022-2027 (%)

9.9 UK - Market size and forecast 2022-2027
- Exhibit 95: Chart on UK - Market size and forecast 2022-2027 ($ million)
- Exhibit 96: Data Table on UK - Market size and forecast 2022-2027 ($ million)
- Exhibit 97: Chart on UK - Year-over-year growth 2022-2027 (%)
- Exhibit 98: Data Table on UK - Year-over-year growth 2022-2027 (%)

9.10 Canada - Market size and forecast 2022-2027
- Exhibit 99: Chart on Canada - Market size and forecast 2022-2027 ($ million)
- Exhibit 100: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
- Exhibit 101: Chart on Canada - Year-over-year growth 2022-2027 (%)
- Exhibit 102: Data Table on Canada - Year-over-year growth 2022-2027 (%)

9.11 China - Market size and forecast 2022-2027
- Exhibit 103: Chart on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 104: Data Table on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 105: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 106: Data Table on China - Year-over-year growth 2022-2027 (%)

9.12 Market opportunity by geography
- Exhibit 107: Market opportunity by geography ($ million)
- Exhibit 108: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges
- Exhibit 109: Impact of drivers and challenges in 2022 and 2027

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape
- Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption
- Exhibit 111: Overview on factors of disruption

11.4 Industry risks
- Exhibit 112: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
- Exhibit 113: Vendors covered

12.2 Market positioning of vendors
- Exhibit 114: Matrix on vendor position and classification

12.3 Aegis Scientific
- Exhibit 115: Aegis Scientific - Overview
- Exhibit 116: Aegis Scientific - Product / Service
- Exhibit 117: Aegis Scientific - Key offerings

12.4 ARCTIKO AS
- Exhibit 118: ARCTIKO AS - Overview
- Exhibit 119: ARCTIKO AS - Product / Service
- Exhibit 120: ARCTIKO AS - Key offerings

12.5 Azenta Inc.
- Exhibit 121: Azenta Inc. - Overview
- Exhibit 122: Azenta Inc. - Business segments
- Exhibit 123: Azenta Inc. - Key offerings
- Exhibit 124: Azenta Inc. - Segment focus

12.6 BioLife Solutions Inc.
- Exhibit 125: BioLife Solutions Inc. - Overview
- Exhibit 126: BioLife Solutions Inc. - Product / Service
- Exhibit 127: BioLife Solutions Inc. - Key offerings

12.7 Cardinal Health Inc.
- Exhibit 128: Cardinal Health Inc. - Overview
- Exhibit 129: Cardinal Health Inc. - Business segments
- Exhibit 130: Cardinal Health Inc. - Key news
- Exhibit 131: Cardinal Health Inc. - Key offerings
- Exhibit 132: Cardinal Health Inc. - Segment focus

12.8 Climatic Testing Systems Inc.
- Exhibit 133: Climatic Testing Systems Inc. - Overview
- Exhibit 134: Climatic Testing Systems Inc. - Product / Service
- Exhibit 135: Climatic Testing Systems Inc. - Key offerings

12.9 Eppendorf SE
- Exhibit 136: Eppendorf SE - Overview
- Exhibit 137: Eppendorf SE - Product / Service
- Exhibit 138: Eppendorf SE - Key news
- Exhibit 139: Eppendorf SE - Key offerings

12.10 Haier Smart Home Co. Ltd.
- Exhibit 140: Haier Smart Home Co. Ltd. - Overview
- Exhibit 141: Haier Smart Home Co. Ltd. - Business segments
- Exhibit 142: Haier Smart Home Co. Ltd. - Key offerings
- Exhibit 143: Haier Smart Home Co. Ltd. - Segment focus

12.11 LabRepCo LLC
- Exhibit 144: LabRepCo LLC - Overview
- Exhibit 145: LabRepCo LLC - Product / Service
- Exhibit 146: LabRepCo LLC - Key offerings

12.12 Liebherr International Deutschland GmbH
- Exhibit 147: Liebherr International Deutschland GmbH - Overview
- Exhibit 148: Liebherr International Deutschland GmbH - Product / Service
- Exhibit 149: Liebherr International Deutschland GmbH - Key news
- Exhibit 150: Liebherr International Deutschland GmbH - Key offerings

12.13 PHC Holdings Corp.
- Exhibit 151: PHC Holdings Corp. - Overview
- Exhibit 152: PHC Holdings Corp. - Business segments
- Exhibit 153: PHC Holdings Corp. - Key offerings
- Exhibit 154: PHC Holdings Corp. - Segment focus

12.14 Stericox India Pvt. Ltd.
- Exhibit 155: Stericox India Pvt. Ltd. - Overview
- Exhibit 156: Stericox India Pvt. Ltd. - Product / Service
- Exhibit 157: Stericox India Pvt. Ltd. - Key offerings

12.15 The Middleby Corp.
- Exhibit 158: The Middleby Corp. - Overview
- Exhibit 159: The Middleby Corp. - Business segments
- Exhibit 160: The Middleby Corp. - Key offerings
- Exhibit 161: The Middleby Corp. - Segment focus

12.16 Thermo Fisher Scientific Inc.
- Exhibit 162: Thermo Fisher Scientific Inc. - Overview
- Exhibit 163: Thermo Fisher Scientific Inc. - Business segments
- Exhibit 164: Thermo Fisher Scientific Inc. - Key news
- Exhibit 165: Thermo Fisher Scientific Inc. - Key offerings
- Exhibit 166: Thermo Fisher Scientific Inc. - Segment focus

12.17 Trane Technologies Plc
- Exhibit 167: Trane Technologies Plc - Overview
- Exhibit 168: Trane Technologies Plc - Business segments
- Exhibit 169: Trane Technologies Plc - Key news
- Exhibit 170: Trane Technologies Plc - Key offerings
- Exhibit 171: Trane Technologies Plc - Segment focus

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist
- Exhibit 172: Inclusions checklist
- Exhibit 173: Exclusions checklist

13.3 Currency conversion rates for US$
- Exhibit 174: Currency conversion rates for US$

13.4 Research methodology
- Exhibit 175: Research methodology
- Exhibit 176: Validation techniques employed for market sizing
- Exhibit 177: Information sources

13.5 List of abbreviations
- Exhibit 178: List of abbreviations

growth due to the increasing number of tests for infectious and chronic diseases: The incidence of infectious and chronic diseases has increased over the past decade. The outbreak of the COVID-19 pandemic in 2020 has increased the demand for laboratory testing for COVID-19 across the world. An increase in demand for laboratory testing for infectious diseases, such as COVID-19 and chronic diseases, will be a driver for the life sciences tools and services industry in the future. The growth of the tools and services industry will continue to be strong in emerging markets such as China and India. Developed economies such as Japan and the EU will exhibit moderate growth rates.

product development to decrease prices: As the pricing pressure increases, life sciences tools manufacturers will have to rethink product development processes. A value first product design philosophy can help control costs and deliver what customers value the most.

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

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What are the factors influencing the growth of the parent market?

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