Laboratory Temperature Control Units Market Size By Product (Laboratory Temperature Controllers, Laboratory Thermostats, Laboratory Chillers, Laboratory Circulators), By Modality (Standalone/Benchtop, Portable/Handheld), By End-use (Hospitals, Pharma & Biotech Industry, Chemical Industry, Food & Beverage Industry), COVID19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Published Date: Jun 2021  |  Report ID: GMI4681  |  Authors: Sumant Ugalmugle, Rupali Swain

Report Format: PDF   |   Pages: 190   |   Base Year: 2020




Summary Table of Contents Industry Coverage Methodology

Industry trends

Laboratory Temperature Control Units Market size exceeded USD 514 million in 2020 and is expected to grow at 6% CAGR from 2021 to 2027.
 

Laboratory Temperature Control Units Market Overview

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Rising necessity and demand for temperature control units in numerous industries including pharma and biotech, chemical, and food processing among others will boost the market growth. Besides this, increasing R&D expenditure, and technological advancement by several market contributors in temperature control unit industry will propel the market expansion during the forecast timeline.
 

The impact of COVID-19 on laboratory temperature control units market is observed to be substantial. According to a survey conducted by science advisory board in association with bioinformatics company COVID-19 lab tracker, many academic and pharma/biotech labs were shut down due to the growing concerns about the COVID-19 outbreak. Owing to these actions, the work of scientists was heavily affected in terms of loss of experiments and wastage of funding.
 

Laboratory temperature control units are the equipment used to regulate the temperature conditions during laboratory experiments. Laboratory temperature control units involve a variety of devices that regulate the temperature by either providing heat or removing the heat from the object.
 

Technological advancements in laboratory temperature control units will create growth opportunities

Technological improvements in developing the laboratory systems will have a significant impression on the laboratory temperature control units market evolution. Progression in health sciences have allowed innumerable healthcare professionals as well as scientists to introduce innovative ways for monitoring the overall temperature range throughout several practices. Medical technologies including high-quality temperature controllers and other systems for research practice are further enabling laboratory practitioners to reduce overall time of the processes, thus favouring the industry growth.
 

Assimilation of laboratory system technology includes programmed temperature monitoring during the complete process. In addition, use of advanced laboratory temperature control units minimizes the need for human intervention during experiments. Moreover, in-house research and development activities have also created growth opportunities for laboratory temperature control units, thus accelerating the overall industry expansion.
 

Rising utilization of chillers in various laboratories will spur the market progression

The laboratory chillers segment in the laboratory temperature control units market is projected to witness a 6% growth rate through 2027. The chillers used in laboratories are water-cooled or air-cooled. Chillers used in laboratory and medical research institutions have wide applications in blood cooling systems, radiation therapy machines as well as sample preservation among others that raises the market demand for chillers. Furthermore, the laboratory chillers can be customized based on specific requirement, and this operational flexibility helps in boosting the overall market value.
 

Wide availability of standalone devices in different industries will stimulate the laboratory temperature control units market revenue

The standalone/benchtop segment was valued at more than USD 380 million in 2020. Availability of variety of standalone/benchtop temperature control units and its surging demand will augment the industry progression. Similarly, numerous businesses are continuously using different temperature control units to maintain the exact temperature for procedures to work efficiently that will prove beneficial for the segment growth.
 

Large application of laboratory temperature control units in pharma and biotech companies will propel the market growth

Laboratory Temperature Control Units Market Share

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The pharma & biotech industry captured around 36% of laboratory temperature control units market share in 2020 led by increasing necessity for laboratory temperature control units in pharma as well as biotech business. The pharma and biotechnology business extensively need medical-grade temperature control units to check the integrity of delicate samples and further other specimens. Also, in order to produce accurate test results in the research experiments, the samples must be stored at a specific temperature range to avoid any further alteration.
 

Increasing R&D expenses will enhance the industry demand in the North America region

North America Laboratory Temperature Control Units Market

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North America laboratory temperature control units market will exhibit over 6% CAGR through 2027. Better healthcare expenditure along with rising investment in research and developmental activities to introduce innovative laboratory products will further strengthen the industry revenue. Moreover, the presence of sophisticated healthcare facilities in hospitals along with rising government support for the development of innovative laboratory products is likely to help the market gain a significant momentum. Similarly, presence of large number of manufacturers in the North America region will further drive the industry value.
 

Ongoing innovation by leading companies have helped them capture the larger market share

Some of the prominent leaders operating in the laboratory temperature control units market include Bio-Rad Laboratories, Delta T Systems, Eurodifroid, FRYKA-Kältetechnik, IKA, JULABO, LAUDA, Peter Huber Kältemaschinenbau, PolyScience and Thermo Fisher Scientific. These industry participants are implementing numerous growth strategies to sustain market competition in market.
 

Some of the recent industry developments:

  • In April 2021, Delta T Systems launched Combination Process Heater and Chiller Systems that feature single and dual zone temperature control heater. This system is fully configurable, easy to use and compact that can log data to estimate future concerns and offer continued operation at stable speed. This launch will help the company to strengthen its temperature control product portfolio.
     
  • In March 2021, IKA announced that it is launching a new device under its recirculating chillers portfolio, the RC 2 lite. This device is compact, powerful and extremely economical. This launch will strengthen the product portfolio of IKA.
     

The laboratory temperature control units market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027, for the following segments:

Market, By Product, 2016-2027 (USD Million)

  • Laboratory temperature controllers
  • Laboratory thermostats
  • Laboratory chillers
  • Laboratory circulators
  • Others

Market, By Modality, 2016-2027 (USD Million)

  • Standalone/benchtop
  • Portable/handheld

Market, By End-use, 2016-2027 (USD Million)

  • Hospitals
  • Pharma & biotech industry
  • Chemical industry
  • Food & beverage industry
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
       

Frequently Asked Questions (FAQ) :

Laboratory temperature control units market size hit USD 514 million in 2020 and is estimated to expand at a 6% CAGR up to 2027.
The demand for laboratory chillers could increase at a CAGR of 6% through 2027.
The standalone/benchtop laboratory temperature control units industry garnered more than USD 380 million in annual revenue in 2020.
Pharma & biotech sector captured about 36% of the market share in 2020 and will witness growth due to growing need for temperature control units in pharmaceutical and biotech laboratories.
North America laboratory temperature control units industry size could grow at a 6% CAGR through 2027 owing to robust healthcare expenditure and R&D investments.

Premium Report Details

  • Published Date: Jun 2021
  • Pages: 190
  • Tables: 240
  • Charts / Figures: 16
  • Companies covered: 10
  • Countries covered: 16

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