Hyderabad, India -- (SBWIRE) -- 03/19/2018 -- Laboratory freezers are usually employed in hospitals, research banks, and industrial sectors. It is defined as a device that operates usually at an extremely low temperature. The major purpose is to help keep the laboratory components intact and to avoid their reaction that is caused because of hot temperatures.

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The Europe Laboratory Freezers Market is valued at USD 0.84 billion in 2016 and is projected to grow at a CAGR of 4.2%, to achieve USD 0.103 billion by 2021.
The rising prevalence of a variety of chronic and infectious diseases in Europe is the significant factor behind the projected growth of the market. The increasing range of organ transplant procedures, growing demand for blood and associated elements, and technological advancements in freezers and refrigerators are the key factors driving the expansion of the laboratory freezers market.

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Increasing regional demand for customized medication and the promising pace of technological developments across healthcare infrastructures in rising economies are cumulatively driving the enhanced adoption of laboratory refrigerators and freezers globally. The steady rise in the variety of blood banks in developing and developed regions combined with government initiatives aimed at expanding awareness regarding blood donation have additionally favored the growth of the market within the past
few years.

The Europe market has been geographically divided into Germany, U.K, France, Spain, and Italy. Europe had high CAGR through the forecast period as a result of the favorable governmental reimbursement policies and schemes.

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The top companies in the current market are Advanced Sterilization Products Services Inc., Dickinson and Company, Cardinal Health Inc., Kimberly-Clark Corporation, Becton, 3M Health Care, and B. Braun Melsungen AG.

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