The laboratory freezer market will jump from $4.7 billion in 2022 to $5.7 billion in 2026, according to market research organization Reportlinker. The projected growth is attributed to a spike in demand for storage of COVID-19 vaccines, as well as blood and its components.
COVID-19 booster mandates would further drive growth in the market.
North America currently holds the largest market share by region, driven in part by the U.S. being home to more of the top lab freezer manufacturers than any other country.