Laboratory Temperature Control Units Market Report

Laboratory Temperature Control Units Market Insights

Laboratory Temperature Control Units Market is likely to witness an impressive CAGR of 5.1% during the forecast period. The COVID-19 impact is playing a crucial role in driving the growth of the laboratory temperature control units’ market, as various manufacturers operating in the laboratory temperature control units are introducing innovative solutions with the intention of providing better as well as more effective patient care. For example, Huber’s temperature control technology is being widely used to produce protective equipment and medical devices, for material & functional tests, and for quality assurance. Likewise, Huber’s temperature control units accounted for a major contribution to the production facilities of chemistry and research laboratories along with the medical and pharmaceutical technology.  

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Market Share Analysis

Laboratory Temperature Control Units Market Share: By Product Type

Based on the product type, the market is segmented as laboratory temperature controllers, laboratory thermostats, laboratory chillers, laboratory circulators, and others. Laboratory chillers are air-cooled or water-cooled and are widely used in laboratories and medical research institutions for different kinds of applications including the blood cooling system and radiation therapy machines among others that anchor the progress of the market. Also, for the accuracy of temperature controlling, chillers used in laboratories can be customized to achieve the target of meeting the exact specifications as well as requirements that eventually bolster the growth of the overall market.

Furthermore, various types of laboratory temperature control units are used in scientific research centers and universities on regular basis, which further ensure reliable results in laboratory procedures when used as a quality lab equipment. Moreover, these laboratories are well equipped with laboratory chillers and laboratory thermostats that secure the overall growth of the market. On the other hand, the shortage of skilled healthcare professionals in both of the developing and underdeveloped economies can hamper the growth and development of the laboratory temperature control unit industry during the forecast period.

Laboratory Temperature Control Units Market Share: By Modality Type

Based on the modality type, the laboratory temperature control units market is segmented as standalone/benchtop and portable/handheld. The standalone/benchtop segment accounted for the larger share of the market in the year 2019. A standalone device can perform its function and complete the task without being needy for any other device or connection. Furthermore, the growing demand for standalone equipment in laboratories offer various profitable features including stability that would be able to boost the expansion of the market during the forecast period. Also, various manufacturers operating in this industry offer several standalone devices that are being widely utilized in the laboratories, fueling the overall growth of the segment in the market.

Laboratory Temperature Control Units Market Share: By End-Use Type

Based on the end-use type, the market is segmented as hospitals, pharma & biotech industry, chemical industry, food & beverage industry, and others. The hospital segment held more than 20% share of the revenue in 2019, and is expected to witness a significant growth rate during the forecast period. Factors such as growing number of patient samples which require critical diagnosis in hospitals coupled with the accessibility of sophisticated healthcare infrastructure, increase in incidents causing various diseases are likely to fuel the demand for laboratory temperature control units in hospital settings of the market during the forecast period.

Laboratory Temperature Control Units Market Share: By Region

In terms of regions, Asia-Pacific is estimated to witness the highest growth during the forecast period, with China and Japan being the major countries with increase in R&D activities’ investment for introducing innovative laboratory equipment along with the increasing healthcare expenditure. The presence of key players of the industry coupled with surging healthcare facilities in China along with the rise in awareness and support from the government sector for better and improved R&D facilities is expected to ramp up the growth of the regional market during the forecast period. Europe and North-America are also expected to offer substantial growth opportunities during the forecast period.

Some of the key players in the laboratory temperature control units market are-

• Bio-Rad Laboratories
• Delta Electronics, Inc.
• Eurodifroid
• FRYKA-Kältetechnik GmbH
• IKA
• JULABO GmbH
• LAUDA DR.R. WOBSER Beteiligungs-GmbH
• Peter Huber Kältemaschinenbau AG
• PolyScience
• UFP TECHNOLOGIES, INC.

Market Scope & Segmentation

Laboratory temperature control units are specially designed in a way which maintain the desired temperature of particular samples throughout the process. Temperature controlling basically refers to a process which is intended to sustain the temperature in a given area within a specific range. Factors such as the advent of greenhouse effect, increasing industrialization have given a rise to the need for temperature control applications in different sectors of various industries.

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The laboratory temperature control units market is segmented into the following categories. 

Laboratory Temperature Control Units Market Size, Share, & Forecast, by Product Type:

• Laboratory Temperature Controllers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Laboratory Thermostats (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Laboratory Chillers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Laboratory Circulators (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Laboratory Temperature Control Units Market Size, Share, & Forecast, by Modality Type:

• Standalone/benchtop (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Portable/handheld (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Laboratory Temperature Control Units Market Size, Share, & Forecast, by End-Use Type:

• Hospitals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Pharma & Biotech Industry (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Chemical Industry (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Food & Beverage Industry (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Laboratory Temperature Control Units Market Size, Share, & Forecast, by Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the product types by end-use type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.