Fitness Trends Laboratory Refrigerators and Freezers Market

Laboratory Refrigerators and Freezers Market -
Global Industry Insights, Trends, Outlook, and
Opportunity Analysis, 2019 – 2027
Laboratory refrigerators and freezers are used for preservation of specimen samples, blood
samples, blood plasma, and other products including vaccines, syringes, etc. giving it a broad
range of applications. These are highly sterilized and maintained at the required standards for
prevention from bacterial or any other contamination. They are supposed to maintain a constant
temperature, in order to minimize the risk of contamination and explosion (in case of volatile
products). A refrigerator or freezer typically contains – condenser, compressor, evaporator, and
expansion valve. Freezer is used when the products are to be maintained at a temperature
below the freezing point.
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Global Laboratory Refrigerators and Freezers Market Drivers
Adoption of strategies such as collaboration, partnerships, merger, and acquisitions by the key
players is expected to drive the global laboratory refrigerators and freezers market growth. For
instance, in May 2018, Phononic, Inc., partnered with Thermo Fischer Scientific, a
biotechnology product development company for creating an exclusive product line in healthcare
and life sciences. This agreement also includes development of Thermo Fischer Scientific‘s TSX
505 series of laboratory refrigerators. Hence, such partnerships are expected to accelerate the
global laboratory refrigerators and freezers market growth.
Furthermore, key players are constantly introducing new product into the market, which is
expected to propel the global laboratory refrigerators and freezers market growth. For instance,
in June 2016, Phononic Inc. launched a product, medical grade under-counter refrigerator,
which was added to its Evolve brand. It is used for storage of pharmaceutical drugs, vaccines,
and medical devices. The refrigerator provides high stability in regulating temperature and a
monitoring software. It also has batter back-up facility and noise producing level is very low
(less than 35 decibels).