(EMAILWIRE.COM, March 17, 2020 ) According to the new market research report “Laboratory Freezers Market by Product (Cryopreservation, Plasma Freezer, Explosion-Proof Freezer, Enzyme Freezer, Ultra-Low Freezer, Blood Bank Refrigerator, Pharmacy Refrigerator, Chromatography Refrigerator) & by End User - Global Forecast to 2021", published by MarketsandMarkets™, The Global Laboratory Freezers Market is projected to reach USD 3.76 Billion by 2021 at a CAGR of 4.6% from 2016 to 2021


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Based on products, the foot and ankle devices market is categorized into orthopedic implants and devices, prostheses, and bracing and support devices. In 2015, the orthopedic implants and devices segment is estimated to account for the major share of the foot and ankle devices market.

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The increasing demand for blood & blood components, rising government support for research activities and clinical trials, and technological advancements in freezers & refrigerators are the major factors driving the growth of the market.

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The laboratory freezers market studied in this report is segmented by product type, end user, and region. Based on end user, the market is segmented into hospitals, medical laboratories, pharmacies, blood banks, academic & research institutes, and pharmaceutical and biotechnology companies.

In 2015, the blood banks segment accounted for the largest share of the market, owing to the increasing demand for whole blood and blood components as a result of the rising prevalence of blood disorders such as sickle cell anemia, blood cancer, and hemophilia.

Geographically, North America dominated the global laboratory freezers market in 2015. The large share of this regional segment can be attributed to the presence of developed healthcare systems in the U.S. & Canada and growing R&D spending on pharmaceuticals & biotechnology in this region. However, the Asia-Pacific region is expected to register the highest growth in the coming years, due to a growth in research activities & pharmaceutical manufacturing and increasing investments by leading players and respective government agencies in emerging APAC countries.

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