Laboratory temperature control units are widely used to track the temperature to which diluents and vaccines are presented. This process is vital for maintaining the chemical and physical structure of the produced goods. The laboratory temperature control units also play a significant role in maintaining the temperature from the point of dispatch of vaccines to the point of use, thus, driving the laboratory temperature control units' market. Temperature controllers are used in any situation when a given temperature needs to be kept stable. Situations can vary according to the requirements such as heating, cooling, and both to prevail at the target temperature, despite the changing environment. Like the pharmaceutical industry, vaccines are organic products that can lose their potency if exposed to extreme freezing or heat. Furthermore, increased utilization of laboratory temperature control units in hospitals and research laboratories to ensure the efficacy and safety of units and experiments is expected to lead to an increased growth rate for the market.
MARKET SCOPE
The "Global Laboratory Temperature Control Units Market Analysis to 2028" is a specialized and in-depth study of the medical devices industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Laboratory temperature control units market with detailed market segmentation by product, modality, end use, and geography. The report provides key statistics on the market status of the leading Laboratory temperature control units market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on product, the global Laboratory temperature control units market is segmented into laboratory temperature controllers, laboratory thermostats, laboratory chillers, laboratory circulators, others.
- On the basis of modality, the market is segmented into standalone/benchtop, portable/handheld.
- On the basis of end use, the market is segmented into hospitals, pharma and biotech industry, chemical industry, food and beverage industry, others.
MARKET DYNAMICS
Drivers:
- Rise in the demand for temperature control equipment.
- Growing availability of various devices.
- Technological advancements.
- Increasing R&D expenditure.
Restraints:
- The lack of awareness regarding advanced temperature control units is the major restraining factor for this market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Laboratory temperature control units market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Laboratory temperature control units market in these regions.
IMPACT OF COVID-19ON LABORATORY TEMPERATURE CONTROL UNITS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the Laboratory temperature control units market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Laboratory temperature control units market are anticipated to lucrative growth opportunities in the future with the rising demand for Laboratory temperature control units in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Laboratory temperature control units market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- AutoMate Scientific
- Bio-Rad Laboratories, Inc.
- BMG Labtech
- Delta Electronics
- Gericke AG
- Grant Instruments
- Green Leaf Scientific
- Heidolph
- HiTec Zang GmbH
- Huber K?ltemaschinenbau AG