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 resp