LONDON--(BUSINESS WIRE)--The global laboratory temperature control products market 2018-2022 is expected to post a CAGR of more than 5% during the forecast period, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increased demand for quality control. Increased quality of products raises the reputation of companies, thereby leading to a larger consumer base. Laboratories design techniques to detect, reduce and correct deficiencies in the internal analytical processes to improve the quality of the results reported by laboratories.
This market research report on the global laboratory temperature control products market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increased customization of temperature control products as one of the key emerging trends in the global laboratory temperature control products market:
Global laboratory temperature control products market: Increased customization of temperature control products
The growing number of applications for temperature control products increases the demand for customization and versatility of these products. For instance, vendors customize products with a range of scope, which includes temperature control devices, temperature display, material of construction, and lid type based upon the requirement of customers.
“Incubators such as CO2 incubators have applications in IVF centers and applications that need hypoxic conditions. This equipment has a separate incubator chamber and airflow unit, thereby making it easy to maintain and replace. These incubators create hypoxic environment and are relatively cheaper than conventional CO2 incubators,” says a senior market research analyst at Technavio.
Global laboratory temperature control products market: Segmentation analysis
This market research report segments the global laboratory temperature control products market by product (incubators, baths, circulators, and chillers) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share of close to 42%, followed by APAC and EMEA respectively. The region is expected to continue to dominate the market throughout the forecast period, and the APAC region is the fastest growing region in the global market.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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