The size of the Asia Pacific Laboratory Freezers Market has been calculated at USD 0.65 billion in 2022. This value is estimated to grow at a CAGR of 4% and worth USD 0.8 billion by 2027.
APAC laboratory freezers market contributes the largest share to the worldwide marketplace due to the factors like the rise in the infrastructure of healthcare, the growth of investments in R&D activities, and the rapid developments in medical tourism. Additionally, the rapid growth of healthcare facilities, the surge in healthcare facilities like laboratories, diagnostic centers, and hospitals in emerging nations are also supporting this business growth. Moreover, the presence of economically developed countries such as India and China is propelling the market's development. The rise of chronic diseases and infectious diseases further leads to increased blood transfusions, drug discoveries, and plasma collection, which creates growth opportunities for players in the Asia Pacific laboratory freezers market.
On the other hand, the APAC Laboratory freezes market is facing some critical challenges. The primary challenge is the high expenditure cost of digitally equipped freezers. Additionally, minimizing energy consumptions, having the least potential equipment for global warming, and should have non-toxic and non-inflammable conditions are also limiting this industry boom.
This research report on the Asia-Pacific laboratory freezers market has been segmented and sub-segmented into the following categories:
By Product Type:
By End User:
Geographically, China and India are likely to increase the market because of the vast population. Also, Asia Pacific is the largest growing segment. Due to advanced technology with the coupling of development in drug products, the rapid rise of R&D's activities for the development of products, and the rise of demand for biomedical freezes to secure storage of biological samples, the Asia-Pacific is expected to witness the highest CAGR among various geographies of the global market. The government took many initiative steps in developing countries like India, China, and Japan with advanced technology. Moreover, designing with novel steps and ideas by having eco-friendly sustainability in China will offer growth potential for this industry.
Some of the promising companies leading in the APAC Laboratory Freezers Market profiled in the report are VWR Corporation (U.S.), ARCTIKO A/S (Europe), Biomedical Solutions Inc. (U.S.), EVERmed S.R.L. (Italy), Philipp Kirsch GmbH (Germany), Thermo Fisher Scientific Inc. (U.S.), Haier Biomedical (China), Eppendorf AG (Germany), Helmer Scientific (U.S.), and Panasonic Healthcare Co., Ltd. (Japan).
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