The global biomedical refrigerator and freezer market is anticipated to rise at a constant 5.60 percent compound annual growth rate (CAGR) to reach US$ 6,053.78 million by 2034. The market, which was valued at US$ 3,510.65 million in 2024, expanded significantly, a sign of the expanding need for cold storage solutions in the scientific and medical fields.
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Medical equipment known as biomedical freezers and refrigerators is used to store a variety of biological materials, including volatile compounds, blood, blood derivatives, medications, vaccinations, and deoxyribonucleic acid (DNA) and ribonucleic acid (RNA). For proper storage, biologically derived samples need certain storage conditions.
Biomedical refrigerators and freezers offer the best conditions for the effective storage of biologically derived material, when compared to residential refrigerators and freezers. Many blood banks, hospitals, diagnostic facilities, research labs, educational institutions, etc. use biological freezers and refrigerators.
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Competitive Landscape:
The biomedical freezer and refrigerator market is characterized by a fierce competition between established market leaders, new entrants, and innovators who concentrate on particular niches. Strict strategies are used by major market participants to get a competitive edge in an industry defined by technological innovation, regulatory compliance, and shifting customer expectations.
Industry giants including Helmer Scientific, Haier Biomedical, and Thermo Fisher Scientific Inc. dominate a sizeable chunk of the market thanks to their extensive R&D capabilities and global reach.
Recent Developments
- In October 2023, Haier Biomedical introduced a new range of energy-saving TwinCool frequency conversion ULT freezers for pharmaceutical, clinical research, and public health laboratories. This sample storage system includes numerous unique technologies, including frequency conversion compressors for low power consumption and a dual refrigeration system, to keep samples safe and secure while minimizing environmental effects.
- In February 2023, PHC Corporation of North America, a supplier of the PHCbi brand of cell preservation and growth products in North and Latin American markets, released the PHCbi brand VIP ECO® SMART ultra-low temperature freezer series for use in medical institutions, universities, and pharmaceutical businesses.
Key Players in the Biomedical Refrigerator and Freezer Market:
- Thermo Fisher Scientific Inc.
- Haier Biomedical
- Helmer Scientific
- Eppendorf AG
- Panasonic Healthcare Co., Ltd.
- PHC Holdings Corporation
- B Medical Systems S.à r.l.
- Liebherr Group
- Terumo Corporation
- Labcold Ltd.
- ARCTIKO A/S
- Follett LLC
- Vestfrost Solutions
- EVERmed S.r.l.
- Accucold by Summit Appliance
- LEC Medical
- Stirling Ultracold
- Froilabo
- Bionics Scientific Technologies (P) Ltd.
- Fiocchetti
Biomedical Refrigerator and Freezer Market Segmentation:
By Product:
- Blood Bank Refrigerators
- Lab Refrigerators
- Lab Freezers
- Plasma Freezers
- Shock Freezers
- Ultra-low Temperature Freezers
By End User:
- Hospitals
- Research Laboratories
- Pharmaceutical and Biotechnology Companies
- Blood Banks
- Diagnostic Centers
- Pharmacies
- Biobanks
- Academic and Research Institutes
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Japan
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