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), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: May 2020  |  Report ID: GMI4681  |  Authors: Sumant Ugalmugle, Rupali Swain

Report Format: PDF   |   Pages: 204   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry trends

Laboratory Temperature Control Units Market size was USD 550 million in 2019 and will grow at a CAGR of 5.2% from 2020 to 2026. Temperature controlling widely refers to a process that is specifically intended at sustaining the temperature in a given area at a certain maximum or minimum level or within a particular range.
 

Due to the current outbreak of COVID-19, different manufacturers operating in the laboratory temperature control units are aiming at introducing innovative solutions for better as well as effective patient care. For instance, Huber’s temperature control technology is widely used in the production of protective equipment and medical devices, for material & functional tests and quality assurance.
 

Laboratory Temperature Control Units Market

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Similarly, Huber’s temperature control units mark an imperative contribution to the production facilities of chemistry and research laboratories along with pharmaceutical and medical technology. Therefore, the COVID-19 impact is expected to drive the market and adoption of laboratory temperature control units.
 

Laboratory Temperature Control Units Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 569.8 Million
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 5.2% 2026 Value Projection: USD 810.2 Million
Pages: 204 Tables, Charts & Figures: 257
Geographies covered (16): U.S., Canada, Germany, UK, France, Italy, Spain, China, India, Japan, Australia, Brazil, Mexico, Argentina, South Africa, Saudi Arabia
Segments covered: Product type, Modality, End-use and Region
Companies covered (10): Bio-Rad Laboratories, Delta Electronics, Eurodifroid, FRYKA-Kältetechnik, IKA, JULABO, LAUDA DR. R. WOBSER, Peter Huber Kältemaschinenbau, PolyScience, Thermo Fisher Scientific
Growth Drivers:
  • Increasing demand for temperature control devices in various industries
  • Technological advancements
  • Rising R&D expenditure across the globe
  • Focus of industry players on developing novel laboratory products
Pitfalls & Challenges:
  • Lack of skilled healthcare professionals in developing and underdeveloped regions

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Surging demand for temperature control devices propel the business expansion

Laboratory temperature control units are specifically designed to maintain the desired temperature of specific samples throughout the entire process. The advent of the greenhouse effect, industrialization as well as globalization has further necessitated the need for temperature control applications in various sectors.
 

Numerous industries including healthcare and pharma & biotechnology industries are extensively using the laboratory equipment to maintain the accurate temperature for processes to work successfully. Also, the usage of laboratory temperature control units in research laboratories has surged in recent years to effectively maintain the stability of temperature.
 

Moreover, different types of laboratory temperature control units are routinely used in scientific research centers and universities. The usage of quality lab equipment would further ensure reliable results in laboratory procedures. Similarly, these laboratories are well-equipped with laboratory chillers and laboratory thermostats that secures the overall market progression.
 

However, the lack of skilled healthcare professionals in developing and underdeveloped economies may hamper the laboratory temperature control unit industry growth.
 

Laboratory Temperature Control Units Market Size

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Several advantages associated with the laboratory chillers over other products will foster the segmental expansion

The laboratory chillers segment was valued over USD 110 million in 2019 and is estimated to show a similar growth trend over the coming years. Chillers used in laboratories are air-cooled or water-cooled. These chillers are widely used in laboratories and medical research institutions for a variety of applications including blood cooling systems and radiation therapy machines among others that secures the market progression.
 

Similarly, chillers used in laboratories can be customized to meet the exact specifications as well as requirements for accurate temperature controlling that eventually fosters the overall market growth.
 

Presence of various manufacturers introducing novel products is anticipated to upsurge the laboratory temperature control units market growth

he standalone/benchtop segment of laboratory temperature control units captured around 73% market share in 2019. A standalone device can perform its function without the need of another device or connection. Also, increasing demand for standalone equipment in the laboratory setting provides several benefits including stability that will augment the market expansion. Moreover, various manufacturers operating in this industry offer several standalone devices that are widely utilized in the laboratories, thereby driving the overall segmental market growth.
 

Laboratory Temperature Control Units Market share

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Presence of skilled healthcare professionals in hospital settings prove beneficial for the segmental growth

The hospital segment of laboratory temperature control units accounted for more than 20% revenue share in 2019 and is estimated to progress during the analysis timeframe. The increasing number of patient samples requiring critical diagnosis in hospitals coupled with availability of sophisticated healthcare infrastructure will propel the market growth. In addition, the rising prevalence of various diseases has surged the demand for laboratory temperature control units in hospital settings.
 

Presence of industry players in Asia Pacific proves beneficial for the regional market growth

Asia Pacific laboratory temperature control units market held lucrative revenue share in 2019 and will witness around 5.5% CAGR during the forecast period. Growing healthcare expenditure in Japan and China along with rising investment in R&D activities to introduce innovative laboratory equipment will strengthen the market growth.
 

The presence of foremost market players coupled with surging healthcare facilities will propel the China market growth. Moreover, rising awareness and government support for better R&D facilities will propel the regional market expansion.
 

Growing focus on introduction of efficient and affordable equipment will eventually drive the market demand

Some of the eminent market players operating in the laboratory temperature control units industry share include Thermo Fisher Scientific, IKA, Polyscience, Lauda, Huber, JULABO, Delta Electronics and Bio-Rad, among others. These industry players are implementing various organic as well as in-organic growth strategies to maintain their market position and financial stability. 
 

  • In October 2019, IKA company launched Matrix thermoshaker. The new and innovative instrument makes mixing and temperature control easier in day-to-day laboratory operations. The launch was envisioned to expand the company’s product portfolio.
     
  • In March 2020, JULABO introduced PRESTO W56, a highly efficient model within the 1-stage, highly dynamic temperature control systems. With this inclusion, the firm expanded its product portfolio of temperature control systems. 
     

The laboratory temperature control unit’s market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and volume in Units from 2015 to 2026, for the following segments:
 

By Product

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

By Modality

  • Standalone/benchtop
  • Portable/handheld

By End-use

  • 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
    • Saudi Arabia
    • South Africa
       

Frequently Asked Questions (FAQ) :

Asia Pacific laboratory temperature control units market is expected to witness around 5.5% CAGR through 2026.
The standalone/benchtop segment of laboratory temperature control units captured around 73% market share in 2019.
Some of the eminent market players include Thermo Fisher Scientific, IKA, Polyscience, Lauda, Huber, JULABO, Delta Electronics and Bio-Rad, among others.

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Premium Report Details

  • Published Date: May 2020
  • Pages: 204
  • Tables: 240
  • Charts / Figures: 17
  • Companies covered: 10
  • Countries covered: 16

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