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Increasing Product Launches by Key Market PlayersIncreasing adoption of organic growth strategies such as product launches by key market players is expected to drive the market growth over the forecast period. For instance, on February 22, 2024, PHC Corporation, a medical device company, announced the launch of a new model of PHCbi brand VIP ECO SMART ultra low temperature (ULT) freezer series for use in facilities including medical institutions, universities, and pharmaceutical companies. The MDF-DU703VHA-PA is the first PHCbi brand ULT freezer to feature dual voltage capability, thus, allowing laboratories to switch between 115V and 220V power sources while benefiting from the award-winning energy-saving performance and enhanced security of the VIP ECO SMART series.
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