Global Laboratory, Temperature Control Units Market, is anticipated to rise at a value CAGR of 4.7% over 2019-2028. According to a study published by Insure Insights on the Global Laboratory Temperature Control Units Market. Laboratory Temperature Control Units are that equipment that are used to control the temperature of a particular sample or any reagents in the laboratories. It is especially used in the pharma & biotechnology industries, and also for research activities. The technological advancements in Laboratory Temperature Control units have escalated market growth. Government initiatives in research activities have indirectly fostered the market.

Top Driver: The rise in use of Laboratory Temperature controller in End User industries have driven the market

The surge in the use of Laboratory Temperature controller in Numerous industries like healthcare and pharma & biotechnology industries to maintain the accurate temperature for processes and rise in use of these controllers in research laboratories so as to maintain the desired temperature of specific samples throughout the entire process have boosted the market growth. The advent of the greenhouse effect, industrialization and globalization has increased the demand for temperature control applications in various sectors

Laboratory chillers have made the highest segmental growth in the Global Laboratory Temperature Control Units Market

Based on the Product, Laboratory chillers segment have dominated the segmental growth Laboratory Chillers have a wide application especially in, blood cooling systems and radiation therapy machines; it is also used in laboratories and medical research institutions. Laboratories chillers are air-cooled or water-cooled. Thus increase in demand for these chillers has escalated the segmental growth.

In terms of the Modality, standalone devices segment has obtained lucrative market growth as they accomplish their function without the need of another device or connection. The rise in the popularity of standalone equipment in the laboratory setting, and the surge in the preference for standalone equipment manufacturers operating, has expanded the overall growth. Based on the End user, hospitals segment has held the most significant growth due to the increasing number of patient samples requiring critical diagnosis and also due to the availability of sophisticated healthcare infrastructure

Asia Pacific boosts the regional market due to the presence of key players

Asia Pacific rules the regional market owing to the presence of key players; moreover, the rise in healthcare expenditure in Japan and China have driven the regional market.  The increase in the investment in R&D to develop technologically advanced laboratory equipment have fostered the market growth. The upsurge in the healthcare facilities in the economies like China, and India have augmented the regional market growth.

Strategic Collaborations, Mergers, Partnerships and Acquisition, are the major strategies of the competitors

The Players of the Global Laboratory Temperature Control Units Market is fragmented. Collaborations, Mergers, partnerships and acquisitions are strategies used by competitors for the overall growth. The key competitors of the Global Laboratory Temperature Control Units Market are Thermo Fisher Scientific, IKA, Lauda, Polyscience Huber, JULABO, Delta Electronics, Peter Huber   Kältemaschinenbau AG, LAUDA, and FRYKA-Kältetechnik GmbH

Thermo Fisher Scientific: Thermo Fisher Scientific is one of the key competitors of the Global Laboratory Temperature Control Units Market; for instance, In March 2019, Thermo Fisher Scientific had announced the acquisition of Brammer Bio. The deal was done for USD 1.7 billion. The acquisition was made by Thermo Fisher Scientific to expand its Gene Therapy Presence

Lauda:  Lauda is a popular competitor in the Global Laboratory Temperature Control Units Market. In October 2018, Lauda had announced the partnership with Watttron; they are involved in developing and producing intelligent heating system, the companies made this partnership for developing innovative heating technology for different markets.

Scope of the Report

By Product Type

• Laboratory temperature controllers
• Laboratory thermostats
• Laboratory chillers

By Modality

• Standalone/benchtop
• Portable/handheld

By End User

• Hospitals
• Pharma & biotech industry
• Chemical industry
• Food & beverage industry

By Region

• North America
• Europe
• Asia Pacific
• LAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.