The global laboratory temperature control units market was valued at US$ 542.7 Mn in 2022 and is projected to expand at a moderate CAGR 5.4%. from 2022 to 2030.
The global laboratory temperature control units market was valued at US$ 542.7 Mn in 2022 and is projected to expand at a moderate CAGR 5.4%. from 2022 to 2030.
Industries Need to Manage, Regulate Temperature Constantly Growing
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 (setpoint), despite the changing environment around it. Similar to the pharmaceutical industry, vaccines are organic products that can lose their potency, if exposed to extreme freezing or heat. 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 point of dispatch of vaccines to the point of use, thus, driving the laboratory temperature control units market during the forecast period. Furthermore, increased utilization of laboratory temperature control units in hospitals and research laboratories for ensuring efficacy and safety of units and experiments are expected to lead toward increased growth rate for the market.
Download Sample @ https://qyresearchmedical.com/sample/111519
Temperature controllers in medical and pharmaceutical industries work in the same way as they do in usual household applications. A usual temperature controller allows control of industrial or laboratory heating and cooling processes. In a standard application, sensors measure the exact temperature. Furthermore, the sensing of temperature is constantly compared to a user setpoint. When the actual temperature varies from the setpoint, the controller creates an output signal to activate other temperature regulating devices such as heating components or refrigeration elements to bring the temperature back to the setpoint. Moreover, laboratory temperature control units are also used in the life science studies and the biotechnology industry. The increasing use of these units in various sectors is expected to boost the laboratory temperature control units market in the upcoming future.
Popularity of Temperature Control Devices Rises amid COVID-19 Pandemic
In the past 18 months, the outbreak of COVID-19 has created an unprecedented global health crisis. Multiple governments across the world have inflicted lockdowns to contain the community transmission of the coronavirus. In addition, restrictions have led to a huge decline in business and industrial operational processes in the year 2020. On the contrary, businesses operating in laboratory temperature control units are taking initiatives to fight against the pandemic of coronavirus disease. While scientists were studying for the cure, researchers are using the studies to manufacture coronavirus test reagents. These initiatives led to the growth of the global laboratory temperature control units market. This can be attributed to the increased demand for store chemicals and reagents, and to maintain the lab temperature. Besides, many organizations and institutions came forward with innovations to fight the challenges created by the COVID-19 outbreak.
As laboratory temperature control units help pharmaceutical and biotech companies control the temperature of their reactors, they are majorly used for the manufacturing of COVID-19 vaccines. Moreover, the cold chain temperature monitoring solutions were used while manufacturing vaccines, which contributed to the increased demand for laboratory temperature control units amidst the pandemic. As the pandemic is nearing its end with the rise in vaccination drives, the global market is expected to restore soon. Increased health awareness and expected rise in clinical visits will ensure a constant demand for temperature control units post COVID-19 pandemic. All these factors are anticipated to help generate remarkable revenues for the global market during the forecast period.
Growing Need to Maintain Hospital Facilities Boosts Global Market
Medical facilities need to maintain a proper level of air quality and temperature control for patients as well as staff. Maintaining proper temperature will restrain the airborne disease from spreading. Thus, temperature control units and ventilation management are vital for patient and staff health and safety. Moreover, some hospitals use negative pressure rooms to operate on patients with contagious diseases. The purpose of these and the temperature units they use is to keep the air from these rooms from escaping the rest of the facility. If air is reduced in the contagious area of a hospital and pumped out, negative pressure is formed in the rooms of the area. The increase in the demand for temperature controllers in research laboratories and hospitals is likely to boost the global laboratory temperature control units market during the projected period.
The implementation of supportive government schemes about laboratory safety is expected to fuel the demand for laboratory temperature controllers. Moreover, technological advancements in developing laboratory systems will have an important impact on the laboratory temperature control units market evolution. Presently, the most preferable method of temperature monitoring is wireless monitoring solutions that can offer daily and continuous monitoring and alarm notification, even during a power outage. These types of units are scalable, so they can be produced to monitor one lab or an entire enterprise with multiple locations and multiple brands of equipment. Medical technologies, including high-quality temperature controllers and other methods for research practice are further allowing laboratory experts to reduce the overall time of the processes, thus favoring the growth of the laboratory temperature control units market.
Quick Buy This Premium Report From Here: https://qyresearchmedical.com/report/checkout/111519/2900
North America to Lead Laboratory Temperature Control Units Market
North America holds the highest share of the laboratory temperature control units market, owing to the rise in awareness about innovative temperature control products, mergers and acquisitions among domestic players, and focus on research & development.
The Europe laboratory temperature control units market is anticipated to witness moderate growth in the upcoming future. European nations are increasingly investing in academic and medical research conducted across several institutes and laboratories. Thus, the rising adoption for laboratory temperature control units in the region is proving propitious for the global market.
Overall, the global laboratory temperature control units market is projected to expand at a moderate CAGR of 5.4% from 2022 to 2030.
Analysts’ Viewpoint
Technological advancements, rise in demand for temperature control equipment for COVID-19 testing, availability of various devices, and key players providing low-cost products are some of the major factors that are expected to drive the laboratory temperature control units market. Moreover, the growing availability of laboratory products that offer higher quality and ongoing research in units & devices are anticipated to lead to a potential rise of the laboratory temperature control units market. Besides hospitals, diagnostic laboratories and biotechnology companies are also likely to emerge as key end users of laboratory temperature control units during the forecast period.
Laboratory Temperature Control Units Market: Overview
Launch of innovative laboratory temperature control products, awareness about companies providing laboratory temperature control units, strong distributorship in emerging markets, and prevalence of COVID-19 and other infectious diseases are anticipated to boost the growth of the global laboratory temperature control units market during the forecast period
Laboratory temperature control units are used in regulating temperature, controlling, safety, and monitoring of the laboratory instruments. Chillers, circulators, and temperature regulators are laboratory temperature products widely preferred and used in laboratories. Clinical laboratories, reference laboratories, and independent laboratories adopt innovative products for various clinical applications.
Demand for laboratory temperature control products has increased, owing to rise in cases of COVID-19 across the globe. Technological advancements and availability of new products propel the global laboratory temperature control units market.
Laboratory Temperature Control Units: Market Segmentation
The global laboratory temperature control units market has been segmented based on product, modality, end user, and country/region
In terms of product, the global laboratory temperature control units market has been classified into chillers, circulators, temperature controllers, and others. The chillers segment accounted for major market share in 2020, owing to availability of chillers in various capacities, which provide advanced temperature control solutions. New chillers serve as innovative platform and provide optimum cooling quality, configurable design, and outstanding performance for clinical applications. This is anticipated to boosts the segment growth during forecast period.
Based on modality, the global laboratory temperature control units market has been bifurcated into benchtop and standalone. The benchtop segment is likely to account for significant share of the global laboratory temperature control units market due to the availability of benchtop models of various laboratory temperature control products.
In terms of end user, the global laboratory temperature control units market has been divided into hospitals, diagnostic laboratories, pharmaceutical & biotechnology companies, and others. The hospitals segment accounted for the largest market share in 2020, ascribed to the increase in presence of public and private hospitals with well-equipped laboratories across regions.
Laboratory Temperature Control Units Market: Regional Segmentation
In terms of region, the global laboratory temperature control units market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
North America dominated the global laboratory temperature control units market in 2020. This can be ascribed to surge in investment in research & development, availability of new laboratory temperature control units, presence of key players, increase in focus on novel drug development, and rise in investments by pharmaceutical and biotechnology companies. Moreover, surge in COVID-19 cases in the region drives demand for digital and innovative temperature regulators in laboratories.
The market in Asia Pacific is anticipated to grow at a rapid pace during the forecast period. Rise in prevalence of chronic diseases, including COVID-19, increase in awareness about diagnostic tools & procedures, surge in focus and investment in research & development, and rise in focus on investment by pharmaceutical & biotechnology companies are projected to augment the laboratory temperature control units market in Asia Pacific during the forecast period. Entry of distributors and local players offering laboratory temperature control units is likely to boost the growth of the laboratory temperature control units market in the region over the next few years.
Laboratory Temperature Control Units Market: Major Players
Key players operating in the global laboratory temperature control units market are
- AutoMate Scientific
- Bio-Rad Laboratories, Inc.
- BMG Labtech
- Delta Electronics
- Gericke AG
- Grant Instruments
- Green Leaf Scientific
- Heidolph
- HiTec Zang GmbH
- Huber Kältemaschinenbau AG
- IKA
- Julabo GmbH
- Lauda
- Polyscience
- Thermo Fisher Scientific
These players focus on adopting various strategies to launch innovative products to expand their product offerings and strengthen geographic presence. Amid the ongoing COVID-19 pandemic, key players are adopting various strategies to maintain their position and expand the product portfolio of laboratory temperature control units. Mergers & acquisitions and collaborations among small and local companies are expected to boost the development of laboratory temperature control units.
Key Questions Answered in Laboratory Temperature Control Units Market Report
- What are the sales/revenue generated by laboratory temperature control units across the globe during the forecast period?
- What are the key trends in the global laboratory temperature control units market?
- What are the major drivers, restraints, opportunities, and threats in the market?
- Which product segment will have the highest revenue by 2031 and which segment will grow at the highest CAGR during the forecast period?
- Strengths and weakness of major players in 2020
- Competitive analysis of major players in 2020
Laboratory Temperature Control Units Market – Segmentation
Product
- Chillers
- Circulators
- Temperature Controllers
- Others
Modality
- Benchtop
- Standalone
End User
- Hospitals
- Diagnostic Laboratories
- Pharmaceutical & Biotechnology Companies
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Quick Buy This Premium Report From Here: https://qyresearchmedical.com/report/checkout/111519/2900
You can place an order or ask any questions, please feel free to contact sales@qyresearchmedical.com | +1 9197 992 333
About Us
QYResearch Medical, focuses on custom research, management consulting, IPO consulting, industry chain research, and data base & seminar services. The company owns large basic databases (such as National Bureau of Statistics Database, Customs Import and Export Database, Industry Association Database, etc.), expert resources (including industry experts who own more than 10 years experiences on marketing or R&D in industries of healthcare services, medical technology & devices, etc.), professional survey team (the team members obtained more than 3 years market survey experience and more than 2 years deep expert interview experience), and excellent data analysis team (SPSS statistics and PPT graphics process team).
QYResearch Medical has more than 4000 global well-known customers, covering more than 30 industries including pharmaceuticals, medical technology & devices, healthcare services etc. Company services cover one-stop solution as Data-Analysis-Suggestion-Consulting Implementation. Research regions cover China, US, EU, Asia, Middle East and Africa, South America, Australia, and other regions in the world.
For Latest Update Follow Us:
URL – http://www.qyresearchmedical.com/
https://www.linkedin.com/company/qyresearch-medical/
https://www.facebook.com/QYResearch-Medical-108186514228917/