The primary activities of the biomedical refrigerators and freezers industry growth, a subsector of the medical equipment industry, include the production, marketing, and distribution of specialised products intended to store and preserve a variety of biomedical materials, including vaccines, drugs, blood products, tissue samples, and laboratory reagents. These sophisticated freezers and refrigerators are essential to the survival and integrity of these sensitive biological and pharmaceutical components.
The biomedical refrigerators and freezers market is projected to record a CAGR of 5.9% during the forecast period, up from US$ 3.2 Billion in 2020 to reach a valuation of US$ 6 Billion by 2031.
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Biomedical refrigerators and freezers are medical equipment, used for storing various biological samples such as biological reagents, blood, blood derivatives, medicines, vaccines, deoxyribonucleic acid (DNA), ribonucleic acid (RNA), and flammable chemicals. Samples with biological origin require precise conditions for effective storage.
In comparison with domestic refrigerators and freezers, biomedical refrigerators and freezers provide optimum conditions for efficient storage of samples with biological origin. Biomedical refrigerators and freezers are widely used in blood banks, hospitals, diagnostic centers, research laboratories, educational institutes, etc.
Based on temperature range, commercially available biomedical refrigerators and freezers offer different applications.
For example, ultra-low temperature freezers with temperature range between -70 to -80 and low are used for prolonged storage of biomedical samples such as DNA and RNA. Plasma freezers offer temperature range between -30°C to -40°C and hence, are preferred for the storage of plasma products, whole blood and vaccines.
Blood bank refrigerators are suited for the storage of whole blood or blood component products. However, the blood bank refrigerators segment contributes the largest market share for the global biomedical refrigerators and freezers market.
The blood bank refrigerators segment is mainly driven by steady rise in the number of blood banks in developing and developed regions and the presence of stringent regulatory requirements. On the other hand, laboratory, medical freezers and pharmacy segments are expected to grow with fastest CAGR during the forecast period.
The global biomedical refrigerator and freezer market is expected to grow at a single digit CAGR during the forecast period (2015 to 2025).
Global Biomedical Refrigerators and Freezers Market: Overview
With rapid technological advancement and with augmentation of various technological and infrastructural up gradation of clinics, hospitals and research laboratories, the global biomedical refrigerators and freezers is expected to have a substantial growth in the forecast period (2015 to 2025).
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Key players in global biomedical refrigerators and freezers market are, Aegis Scientific, Inc., ARCTIKO A/S, ThermoFisher Scientific, Inc., Binder GmbH, BioMedical Solutions, Inc., Bionics Scientific Technologies (P) Ltd., Coldway, DESMON S.p.A, Eppendorf AG, Froilabo SAS, Panasonic Healthcare Co., Ltd., Philipp Kirsch GmbH, LabRepCo, Inc., Gram Commercial A/S, and Venktron Electronics Co. Ltd.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
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Global Biomedical Refrigerators and Freezers Market: Drivers and Restraints
Factors driving the global biomedical refrigerators and freezers market, are increasing demand for blood transfusions, custom-made medicines and vaccines, and cellular therapies. In addition, rising research and development activities in the field of medical science are driving the acceptance of biomedical refrigerators and freezers in research and educational institutes.
Also, with increased funding from various sources and R&D activities in the pharmaceutical sector up-surged the use of biomedical refrigerators and freezers.
Factors restraining the global refrigerator and freezers market includes, presence of large number of local players offering cheaper products than branded products, and rising trend of using refurbished equipment worldwide due to its cheaper price.
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Regional analysis includes
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Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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