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Base Year: 2023
Companies covered: 10
Tables & Figures: 183
Countries covered: 18
Pages: 140
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Laboratory Temperature Control Units Market
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Laboratory Temperature Control Units Market Size
The global laboratory temperature control units market size was valued at USD 630.3 million in 2023 and is estimated to grow at 5.5% CAGR from 2024 to 2032. Laboratory temperature control units are used to control temperature during an experiment and manage the laboratory's temperature conditions. Such units can utilize different devices and mechanisms to cool or heat various objects as needed.
The increasing need of control units for laboratory temperature in the pharmaceutical, healthcare, biotech, chemical, and food processing industries has boosted the expansion of the market. These sectors tend to require effective and reliable temperature control appliances for their processes. For instance, as of 2024, the 23,179 biotechnology companies need effective temperature control in a wide range of biotech processes and hence the opportunity for laboratory temperature control units propels, that contribute to market growth during the analysis period.
Moreover, industry competitors continue to improve and develop functionalities of temperature control units by making them more accurate, faster, quick responsive, capable of holding wider temperature ranges, and other forms of connectivity. For example, in 2020, Huber Kaltemaschinenbau presented these innovations in the form of their new product, Chili Heating Circulation Thermostat, which has a wide range from 65 to 300 °C with a stability of +/-0.02 K. This makes it well-suited for research labs and industries process.
Laboratory Temperature Control Units Market Trends
Laboratory Temperature Control Units Market Analysis
Based on product, the laboratory temperature control units' market is divided into laboratory temperature controllers, laboratory thermostats, laboratory chillers, laboratory circulators, and other products. The laboratory circulators segment held 25.2% market share in 2023.
Based on modality, the laboratory temperature control units market is bifurcated into standalone/benchtop and portable/handheld. The portable/handheld segment is anticipated to register robust growth at a CAGR of 6% during the forecast period.
Based on end use, the laboratory temperature control units market is bifurcated into hospitals, pharma and biotech industry, chemical industry, food and beverage industry, and other end users. The hospital segment accounted for USD 164.5 million in 2023.
The laboratory temperature control units market in UK is expected to experience significant and promising growth from 2024 to 2032.
Japan laboratory temperature control units market is anticipated to witness lucrative growth between 2024 – 2032.
The laboratory temperature control units market in Saudi Arabia is expected to experience significant and promising growth from 2024 to 2032.
Laboratory Temperature Control Units Market Share
The market for laboratory temperature control units is fragmented with intensifying competition that incorporates both large multinational corporations and many small- and medium-sized enterprises. An important tactic that market players employ is the self-innovation of temperature control systems with greater accuracy, energy efficiency, and ease of use. Reasonable spending on R&D, directed toward achieving higher levels of temperature control and monitoring for the pharmaceutical and biotechnology industry, is most beneficial.
Joint ventures and strategic partnerships are critical for gaining improved competitive positions in new markets as well as for coping with new legal requirements using joint technologies and distribution systems. This approach serves the purpose of meeting the rising need for accurate temperature control automation and strengthens business competitiveness in the emerging economy.
Laboratory Temperature Control Units Market Companies
Some of the eminent market participants operating in the laboratory temperature control units industry include:
USPs for top market players:
Laboratory Temperature Control Units Industry News:
The laboratory temperature control units market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million and volume in units from 2021 – 2032 for the following segments:
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Market, By Product
Market, By Modality
Market, By End use
The above information is provided for the following regions and countries: