Global Thermoelectric Devices in Medical & Laboratory Offering Market Size By Product (Thermoelectric Coolers and Thermoelectric Generators), By Application (Commercial Application and Ongoing Research), By Type (Bulk Thermoelectric Modules, Micro Thermoelectric Modules, and Thin-Film Thermoelectric Modules), By Offering (Hardware and Software & Services), By Geographic Scope And Forecast

Thermoelectric Devices in Medical & Laboratory Offering Market Size And Forecast

Thermoelectric Devices in Medical & Laboratory Offering Market size was valued at USD 42.84 Million in 2020 and is projected to reach USD 101.86 Million by 2028, growing at a CAGR of 11.07% from 2021 to 2028.

The growth of the market in this region can be attributed due to the rising demand for thermoelectric devices in medical and laboratory Offerings and the high advantages of thermoelectric devices over conventional systems. The Global Thermoelectric Devices in Medical & Laboratory Offering Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Thermoelectric Devices in Medical & Laboratory Offering Market Definition

Thermoelectric devices are small, compact, and lightweight, as well as environmentally safe, low-maintenance, and long-lasting. Thermoelectric devices are used in modern military equipment and robotics due to their characteristics. The capacity of thermoelectric devices to supply reliable electricity in adverse conditions has created a million-dollar market for this industry. These devices can be used for heating and cooling as well as electricity generation. The Offerings of thermoelectric devices include a wide range of fields and industries. Thermoelectric devices conduct micro-cooling, micro-heating, light source powering, and thermal energy recovery from solar cells, engines, factories, or any other heat-shedding system. More than two-thirds of the energy produced by traditional sources is wasted as heat. Recovering those energy losses can contribute to the creation of a more efficient method of producing energy for the long-term growth of our civilization. It is feasible to generate energy from temperature gradients using thermoelectric devices. Due to the increasing demand for energy and the inherent depletion of fossil fuels, there is a strong interest among the scientific and political communities in developing new methods for the sustainability of energy production, which acts as a driving factor in the growth of the global thermoelectric devices market.

Global Thermoelectric Devices in Medical & Laboratory Offering Market Overview

The growth of the market in this region can be attributed due to the rising demand for thermoelectric devices in medical and laboratory Offerings and the high advantages of thermoelectric devices over conventional systems. Increasing usage and demand for thermoelectric devices in the global healthcare sector are expected to propel the global thermoelectric devices market. The medical Offerings of thermoelectric vary from power generation research, including implantable and wearable devices, to battery-free thermoelectric energy harvesting. Because of the continuous expansion of the global healthcare sector, demand in the worldwide thermoelectric devices market is increasing and is projected to establish emerging trends. The important medical Offering of thermoelectrics in the PCR (Polymerase Chain Reaction) increases market demand. The necessity for quick heating and cooling of DNA grows. Peltier devices’ advantages, such as reversibility, quick reaction, and flexibility of deployment, make them appealing for use in PCR equipment. Also, the growing demand for solid-state heating and cooling in professional sports therapy is likely to fuel the market.

Furthermore, these devices are nearly maintenance-free, very dependable, environmentally friendly, small and lightweight, and enable accurate temperature control; hence, they are used in the medical and laboratory industries. They are frequently employed in commercial medical Offerings such as solid-state heating and cooling for medical Offerings in PCR and energy harvesting for biomedical devices which is driving the growth of the market. However, inherent disadvantages, design complexities, and high capital and maintenance cost as compared to Conventional systems is restricting the market.

Global Thermoelectric Devices in Medical & Laboratory Offering MarketSegmentation Analysis

The Global Thermoelectric Devices in Medical & Laboratory Offering Market is segmented on the basis of Product, Application, Type, Offering, And Geography.

Thermoelectric Devices in Medical & Laboratory Offering Market, By Product

• Thermoelectric Coolers• Thermoelectric Generators

To Get Summarized Market Report By Product-

Based on Product, the market is bifurcated into Thermoelectric Coolers and Thermoelectric Generators. Thermoelectric Coolers accounted for the largest market share and is projected to grow at the highest CAGR during the forecast period. Thermoelectric coolers are solid-state heat pumps that use the Peltier Effect to disperse heat through a heat exchanger. During operation, a direct current (DC) current passes through the thermoelectric cooler, generating heat transfer and a temperature differential between the ceramic substrates, resulting in one side of the thermoelectric cooler being cold and the other being hot. Temperature differentials of up to 70°C are possible using a basic single-stage thermoelectric cooler. A standard thermoelectric cooler’s geometric footprint might range from 2 x 2 mm to 62 x 62 mm. Because of their tiny size and lightweight, thermoelectrics are suited for Offerings with strict geometric space constraints and low power requirements.

Thermoelectric Devices in Medical & Laboratory Offering Market, By Application

• Commercial Applications• Ongoing Research

On the basis of Application, the Global Thermoelectric Devices in Medical & Laboratory Offering Market has been segmented into Commercial Applications and Ongoing Research. Commercial Applications accounted for the largest market share and is projected to grow during the forecast period. Thermoelectric devices have shown the most promise for commercial use due to their extraordinary thermoelectric performances. Thermoelectric devices have had limited utility in biological Offerings in the past. Early Offerings benefited from the solid-state heating and cooling effects, such as DNA thermal cyclers, medication cooling bags, and medical imaging devices.

Thermoelectric Devices in Medical & Laboratory Offering Market, By Type

• Bulk Thermoelectric Modules• Micro Thermoelectric Modules• Thin-Film Thermoelectric Modules

On the basis of Type, the Global Thermoelectric Devices in Medical & Laboratory Offering Market have been segmented into Bulk Thermoelectric Modules, Micro Thermoelectric Modules, and Thin-Film Thermoelectric Modules. Micro Thermoelectric Modules accounted for the largest market share and is projected to grow at the highest CAGR during the forecast period. Micro thermoelectric modules are witnessing the fastest growth due to Offerings such as telecommunications, automotive, and medical & laboratories. The rapid use of 5G connectivity is increasing the need for tiny thermoelectric modules. Micro thermoelectric modules are used in automobiles to cool different sensors that help in driving. As a result, throughout the forecast period, the market for micro thermoelectric modules is predicted to develop at the quickest rate.

Thermoelectric Devices in Medical & Laboratory Offering Market, By Offering

• Hardware• Software & Services

On the basis of Offering, the Global Thermoelectric Devices in Medical & Laboratory Offering Market has been segmented into Hardware Software & Services. Hardware accounted for the largest market share and is projected to grow during the forecast period. Thermoelectric Holding Module (TEHM) is a temperature-controlled storage device used to keep large amounts of frozen or cooled non-hazardous samples at a certain temperature. The TEHM has a temperature control knob with three modesRefrigerator (for a temperature of +4 degrees Celsius (39.2 degrees Fahrenheit), Freezer (for a temperature of -22 degrees Celsius (7.6 degrees Fahrenheit), and Mission-Specific (for a temperature of -22 degrees Celsius (7.6 degrees Fahrenheit).

Thermoelectric Devices in Medical & Laboratory Offering Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

To Get Summarized Market Report By Geography- 

On the basis of regional analysis, the Global Thermoelectric Devices in Medical & Laboratory Offering Market is classified into North America, Europe, Asia Pacific, and Rest of the World. North America accounted for the largest market share and is projected to grow during the forecast period. The dominance of the region is due to the factors such as the increased adoption of thermoelectric devices by commercial industries and connected technology boost the regional market growth. Moreover, the government policies that encourage the use of efficient and environmentally friendly technology encourage the widespread usage of thermoelectric modules throughout North America.

Key Players

The “Global Thermoelectric Devices in Medical & Laboratory Offering Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as II-VI Marlow, Kelk Ltd., Ferrotec, European Thermodynamics, CUI Devices, Laird, AMS Technologies, and the rest others. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• Laird Thermal Systems had developed Nextreme Performance Chiller Platform with a New Thermoelectric-based unit.The Nextreme NRC400 Performance Chiller is an ideal cooling solution for research laboratories, analytical imaging, industrial laser systems, and test & measurement Offerings where the precise temperature in a highly portable chiller is required.

• European Thermodynamics had updated its Adaptive High-Temperature Cycling Peltier Cooler Modules.The product was updated to provide more information to help clients choose the correct temperature cycling Peltier module for their requirements

Report Scope

To Get Customized Report Scope- 

Top Trending Reports

Research Methodology of Market Research

To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Million) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market from various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

Customization of the Report

In case of any please connect with our sales team, who will ensure that your requirements are met.