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Laboratory Temperature Control Units Market Report 2020 Examines Competitive Situation and Trends by 2030

08-17-2020 04:39 AM CET | Health & Medicine

Press release from: Transparency Market Research

Laboratory Temperature Control Units Market Report 2020

Global Laboratory Temperature Control Units Market: Overview

A temperature control unit is typically used to preheat an industrial process and maintain the desired temperature. Laboratory temperature control unit systems offer rapid heating and cooling rates for fast compensation of external events.

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Key Driver of Global Laboratory Temperature Control Units Market

Temperature control units have become an integral part of pharmaceutical, biotechnology, life science, and food & beverage industries, primarily to hold or maintain the temperature of desired components for sample solutions and all types of testing. Hence, demand for laboratory temperature control units largely depends on the expansion of life science and food & beverage industries. Rapid expansion of the life science industry has been witnessed in emerging markets. This is projected to be a key driver of the global laboratory temperature control units market.
According to world industry outlook, the global pharmaceutical market is projected to reach US$ 1.2 Trn by 2020, expanding at a CAGR of 4.4% from 2016 to 2020.

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Key Restraints of Global Laboratory Temperature Control Units Market

Large number of players are operating in the global laboratory temperature control units market offering a wide range of temperature control units at competitive prices
The global laboratory temperature control units market is fragmented, owing to the presence of a large number of regional/domestic players in each major region. Domestic players offer a wide range of laboratory temperature control units at lower prices, as compared to those offered by leading international players.

Hence, these players offer multiple buying options to end-users in price sensitive markets and account for a key share of the market in respective regions. Therefore, leading global players face difficulty to launch high-end quality units, such as circulators with latest technologies, and penetrate in price sensitive markets.

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North America to Account for Major Share of Global Laboratory Temperature Control Units Market

In terms of region, the global laboratory temperature control units market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

North America is projected to dominate the global market during the forecast period. Large base of biotechnology and pharmaceutical companies, well-established health care facilities with latest and updated laboratory technologies and equipment, and a large burden of biological sample processing in diagnostics laboratories are key factors contributing to the high market share held by North America in the global laboratory temperature control units market.

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Key Players Operating in Global Laboratory Temperature Control Units Market

Major players operating in the global laboratory temperature control units market include:

JULABO GmbH
Huber Kältemaschinenbau AG
TSI Incorporated
Huber GmbH
Grant Instruments

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About Us

Transparency Market Research is a global market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for several decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts so that it always reflects latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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