As per our report, the size of the North America Laboratory Freezers Market is forecasted to worth USD 1.45 billion by 2027 from USD 1.13 billion in 2022, registering a CAGR of 5.02% between 2022 to 2027. North America had the highest no. Share in the global market in 2019 and is mostly driven by medical concerns. The USA has the highest demand, followed by Canada and Mexico in North America.
An estimated 95 organ transplants are happening in the United States every day. The number of organ transplantation methods is also simultaneously increasing, as per the U.S. Department of Health and Human Services data. The requirement levels of the blood components are rising year-by-year, and this factor is estimated to provide a substantial boost to the growth rate of the market in North America.
Y-O-Y growth in the incidence of blood-related disorders in the North American countries is estimated to drive growth to the market during the forecast period. This particular segment is receiving government support from North American countries to enhance technologically updated products, which is a positive sign to the market to hike further.
Increasing awareness of having laboratory freezers in this region is a supporting factor in market growth. Many government schemes and growing awareness about blood donation add fuel to the increase in demand for laboratory freezers in the United States and Canada.
The cost of the laboratory freezers is high and is an essential factor that may limit the growth rate of the market to reach its heights. An increase in the utilization of refurbished equipment is hampering market growth to a small extent. Lack of skilled labor and experienced professionals required to perform transplant surgeries also negatively impact the North American laboratory freezers market.
This research report on the North American laboratory freezers market segmented and sub-segmented into the following categories:
North America is estimated to dominate the other regions in the global market during the forecast period. The market in this region is strongly driven by the increasing &R & D activities among the pharmaceutical and biotechnology companies, developed healthcare infrastructure, and growing organ transplant processes. The existence of vastly enhanced healthcare systems in the region is likely to fuel market growth over the period.
The United States is one of the significant contributors to the region's laboratory freezers market during the analysis period. The rise in the senior population and the increase in medical tourism are augmenting the region's growth. The growth in the U.S is attributed because of huge expenses made in healthcare, surging research and development activities for pharmaceutical and life sciences industries, and developed healthcare infrastructure.
Canada is the next to leading the dominant shares of the market. A burgeoning number of trauma cases as a patient is desperately in need of blood, and the launch of new products comprising new useful features are some factors boosting the growth.
Companies playing a dominant role in the North America Laboratory Freezers Market profiled in this 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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