The global Laboratory Freezers Market was valued at USD 4.92 billion in 2023, projected to reach USD 7.48 billion by 2032, with a CAGR of 4.78% over 2024-2032. The U.S. market alone reached USD 1.62 billion in 2023, expected to hit USD 2.43 billion by 2032, highlighting North America’s dominance in biomedical research and drug development.

Pharmaceutical research, especially in biologics and vaccines, is driving global demand for laboratory freezers to preserve temperature-sensitive samples. The U.S. leads in North America due to a robust healthcare ecosystem, R&D infrastructure, FDA compliance, and clinical trial sites, fueling adoption of specialized cold storage solutions.

The freezers segment held the largest market share in 2023, critical for storing vaccines, plasma, and reagents. Pharmaceutical & biotechnology companies dominated the market, requiring dependable cold storage for biologics, vaccines, and drug compounds to maintain operational efficiency.

North America led the laboratory freezers market in 2023, driven by established health infrastructure, R&D investment, and regulatory guidelines favoring dependable freezers. Asia-Pacific is expected to see the fastest growth, driven by healthcare infrastructure, pharmaceutical production, and biotechnology investment.

Key players in the laboratory freezers market include Thermo Fisher Scientific, Eppendorf, Panasonic Healthcare, Haier Biomedical, and others. The market is segmented by products such as freezers, refrigerators, and cryopreservation systems, with end users including pharmaceutical & biotechnology companies, blood banks, and medical laboratories.

Read more at GlobeNewswire: Laboratory Freezers Market Set to Reach USD 7.48 Billion by