Laboratory Temperature Control Units Market Analysis

Laboratory Temperature Control Units Market Analysis

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.

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.

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.

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.
 

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.