The rising demand for blood and blood components is one of the major factors driving the laboratory freezer rack market growth. Blood and blood components are required for the treatment of various trauma, bleeding disorders, and blood loss due to surgery. As the demand for blood and blood components is on a rise, there has been an increase in demand for freezer rack as well. Additionally, freezer racks made of corrosion resistant steel allows handling and identification of cardholders and storage of large quantities of blood tubes conveniently. It also facilitates tube retrieval without removing the whole rack from the freezer. Such advantages are driving the demand for laboratory freezer racks.
The growth in stem cell research is one of the major trends which will further drive the laboratory freezer rack market growth. Stem cell research is growing in countries like China and India encouraged by the allocation of funds and grants. Laboratory freezer rack is widely used by researchers to preserve stem cells in ultra-low temperature. With the rise in stem cell research, the need for laboratory freezer rack is also expected to grow. This market forecast report predicts that fueled by these factors, the laboratory freezer rack market size will grow at a CAGR of over 5% during the forecast period.
Top laboratory freezer rack companies covered in this market research report
The laboratory freezer rack market is moderately fragmented. As the market continues to grow it is becoming increasingly concentrated. To help clients improve their market position, this report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this laboratory freezer rack market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make most of the upcoming growth opportunities and consequently augment the laboratory freezer rack market size.
The report offers a complete analysis of various companies including:
Avantor Performance Materials
Qingdao COMBI Medical and Laboratory Products
Thermo Fisher Scientific
Laboratory freezer rack market segmentation based on geographic regions
Global laboratory freezer rack market analysis reveals that the Americas will lead the laboratory freezer rack market share, while the APAC region will account for the highest growth of this market throughout the forecast period.
Laboratory freezer rack market segmentation based on end users
Pharmaceutical and biotechnology companies
Academic institutes and research laboratories
The pharmaceutical and biotechnology segment will dominate the laboratory freezer rack market share during the forecast period. Other users, which include biobanks and hospitals, will account for the highest laboratory freezer rack market growth in the market. Additionally, the report also provides an accurate prediction of the contribution of the various end-user segments to the growth of the laboratory freezer rack market size.
Key highlights of the global laboratory freezer rack market for the forecast years 2018-2022:
CAGR of the market during the forecast period 2018-2022
Detailed information on factors that will accelerate the growth of the laboratory freezer rack market during the next five years
Precise estimation of the global laboratory freezer rack market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the laboratory freezer rack industry across the Americas, APAC, and EMEA
A thorough analysis of the market’s competitive landscape and detailed information on several vendors
Comprehensive details on the factors that will challenge the growth of laboratory freezer rack companies
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