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Biomedical Refrigerators and Freezers Market Research Report - Forecast to 2029 (Includes Business Impact of COVID-19)

  • TBI745854
  • April 03, 2020
  • Global
  • 132 pages
  • Lucintel
                                              Abstract, Snapshot, Market Analysis & Market Definition: Biomedical Refrigerators and Freezers Market
Industry / Sector Trends

Biomedical Refrigerators and Freezers Market size was valued at USD 2.7 billion in 2018 and is expected to witness 4.2% CAGR from 2019 to 2025.
 

U.S. Biomedical Refrigerators and Freezers Market Size, By Product, 2018 & 2025 (USD Million)

 

Technological advancements in medical grade freezers and refrigerators will drive the biomedical refrigerators and freezers market growth during the forecast period. Government support for development of innovative products will further accelerate the business growth. For instance, European Commission’s Medical Device Directive has employed certain requirements and regulations for the biomedical freezers and refrigerators to safeguard storage of blood and blood components. Growing demand for biomedical refrigerators amongst the research labs and pharmaceutical companies operating in drug discovery process will foster biomedical refrigerators and freezers market size over the forecast period.
 

Growing prevalence of chronic diseases such as cancer, cardiac diseases and infectious diseases leading to surge in demand for blood transfusion is another key factor that will boost the biomedical refrigerators and freezers industry growth. According to the European Society of Hemapheresis (ESFH), high preference towards plasmapheresis, generally adopted apheresis technique, will raise installation of plasma freezers in hospitals, blood banks and research organizations for storage of fresh frozen plasma, RBCs and other blood components. Moreover, increasing awareness regarding blood donation as well as government initiatives to encourage donation will favor business growth. However, high cost of medical grade refrigerators and freezers as well as growing preference towards refurbished equipment may impede industry growth during the analysis period.
 

Market Segmentation, Outlook & Regional Insights: Biomedical Refrigerators and Freezers Market

 Biomedical Refrigerators and Freezers Market, By Product

Plasma freezers segment accounted for USD 859.8 million in 2018 and is anticipated to have significant growth during the forecast timeframe. According to European Society of Hemapheresis (ESFH), the plasmapheresis is most frequently performed apheresis technique, and hence will raise plasma freezers installation in hospitals, blood banks and research organizations for storage of fresh frozen plasma (FFP). Moreover, increasing prevalence of cancer in developed as well as developing countries will positively influence segmental growth.
 

Shock freezers or blast freezers segment held considerable revenue share in 2018 and is anticipated to witness 4.7% CAGR during the forecast period. Shock freezers rapidly reduce the temperature of biological samples to below -30°C that help in preservation of samples at optimal temperature. Increasing adoption of plasma freezers for fast freezing of blood plasma, pharmaceutical and biological preparations will foster segmental growth over the analysis timeframe.
 

Biomedical Refrigerators and Freezers Market, By End-use

Blood banks segment accounted for more than 38% revenue share in 2018 attributed to increasing number of blood banks in developed and developing economies. Numerous government initiatives for spreading awareness about blood donation has increased the usage of biomedical refrigerators and freezers. Need for reliable blood cold chain for maintaining donated blood, blood storage during donor sessions and transportation of blood samples to laboratory will upsurge segmental growth.
 

Research labs segment is projected to show 4.8% CAGR over the analysis period. Laboratories require freezers and refrigerators along with analyzers and other equipment for operating and meeting regulatory requirements. Most clinical labs use medical-grade refrigeration to ensure the integrity of sensitive samples, blood and blood products, reagents, controls, vaccines and other patient specimens. Increasing demand for reliable and sensitive temperature control mechanisms in research labs to maintain and control uniform temperature will further drive the segmental growth.
 

Germany Biomedical Refrigerators and Freezers Market Size, By End-use, 2018 (USD Million)

 

Biomedical Refrigerators and Freezers Market, By Region

North America biomedical refrigerators and freezers market dominated the global market with USD 1.2 billion in 2018 and is anticipated to show similar trend over the forthcoming years. High regional growth is attributed to increasing prevalence of chronic and infectious diseases, growing demand for personalized medicines and favorable government initiatives should drive business growth. Moreover, favorable reimbursement policies developed by medical insurance providing companies such as Medicare and Medicaid help to minimize affordability issues faced by geriatric population. Aforementioned factors should flourish the regional revenue growth over the coming years.
 

Asia Pacific biomedical refrigerators and freezers market will witness lucrative CAGR of 5.4% over the forecast period due to rising R&D expenditure, developments in pharmaceutical and biotechnology sectors. Moreover, expansion strategies adopted by leading biomedical refrigerators and freezers market players will further foster industry growth. Advances in clinical applications, patient blood management and cellular therapies management have created potential growth opportunities for biomedical refrigerators and freezers market.
 

Asia Pacific Biomedical Refrigerators and Freezers Market Size, By Country, 2025 (USD Million)

 

Key Players, Recent Developments & Sector Viewpoints: Biomedical Refrigerators and Freezers Market


Some of the key industry players operational in the biomedical refrigerators and freezers market include Aegis Scientific, Migali Scientific, Arctiko, Follett, Azbil Corporation, Binder, B Medical Systems, Eppendorf, Helmer Scientific, Liebherr-International, Panasonic Healthcare Corporation of North America, Haier Biomedical, Powers Scientific and Thermo Fisher Scientific. The industry players focus on various strategic alliances such as mergers, acquisitions and new product launch that help them in maintaining their market position. For instance, in February 2017, Follett announced expansion of features offered in all its medical grade refrigerators and freezers used in healthcare industries. The company introduced advanced touch screen user interface for enhanced data management and product protection along with data recording and electronic locking systems. Integration of advanced technology within the biomedical refrigerators and freezers monitors will increase its adoption among the doctors and clinicians that will render company with sustainable profits.
 

Biomedical Refrigerators and Freezers Industry Viewpoint

 

 

International efforts to exterminate smallpox in the 1960s and 1970s required efforts to expand immunization programs as well as develop immunization supply chains. The prerequisite to create a reliable system to ensure cold storage of vaccines during the long journey from the manufacturer to point of use, especially in remote areas, was a critical concern during the early days of the Expanded Program on Immunization. The requirement for apt equipment to transport and store biological products in tropical emerging nations led to innovations and developments in refrigeration equipment. Introduction and widespread adoption of novel and high performance refrigerators and freezers for storage of biological samples such as blood and blood components, tissues and organs has increased in recent years. Moreover, focus of industry players on innovative product development and growing disease burden across the globe will surge the adoption of biomedical refrigerators and freezers thereby augmenting industry growth during the forthcoming years.

Key Insights Covered: Exhaustive Biomedical Refrigerators and Freezers Market
1.  Market size (sales, revenue and growth rate) of Biomedical Refrigerators and Freezers industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Biomedical Refrigerators and Freezers industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Biomedical Refrigerators and Freezers industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Biomedical Refrigerators and Freezers industry.

Research Methodology: Biomedical Refrigerators and Freezers Market
  • Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  • Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  • Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.

1 Report Overview
    1.1 Research Scope
    1.2 Major Manufacturers Covered in This Report
    1.3 Market Segment by Type
        1.3.1 Global Biomedical Refrigerators and Freezers Market Size Growth Rate by Type (2019-2025)
    1.4 Market Segment by Application
        1.4.1 Global Biomedical Refrigerators and Freezers Market Share by Application (2019-2025)
    1.5 Study Objectives
    1.6 Years Considered

2 Global Growth Trends
    2.1 Production and Capacity Analysis
        2.1.1 Global Biomedical Refrigerators and Freezers Production Value 2014-2025
        2.1.2 Global Biomedical Refrigerators and Freezers Production 2014-2025
        2.1.3 Global Biomedical Refrigerators and Freezers Capacity 2014-2025
        2.1.4 Global Biomedical Refrigerators and Freezers Marketing Pricing and Trends
    2.2 Key Producers Growth Rate (CAGR) 2019-2025
        2.2.1 Global Biomedical Refrigerators and Freezers Market Size CAGR of Key Regions
        2.2.2 Global Biomedical Refrigerators and Freezers Market Share of Key Regions
2.3 Industry Trends
        2.3.1 Market Top Trends
        2.3.2 Market Drivers

3 Market Share by Manufacturers
    3.1 Capacity and Production by Manufacturers
        3.1.1 Global Biomedical Refrigerators and Freezers Capacity by Manufacturers
        3.1.2 Global Biomedical Refrigerators and Freezers Production by Manufacturers
    3.2 Revenue by Manufacturers
        3.2.1 Biomedical Refrigerators and Freezers Revenue by Manufacturers (2014-2019)
        3.2.2 Biomedical Refrigerators and Freezers Revenue Share by Manufacturers (2014-2019)
        3.2.3 Global Biomedical Refrigerators and Freezers Concentration Ratio
    3.3 Biomedical Refrigerators and Freezers Price by Manufacturers
    3.4 Key Manufacturers Biomedical Refrigerators and Freezers Plants/Factories Distribution and Area Served
    3.5 Date of Key Manufacturers Enter into Biomedical Refrigerators and Freezers Market
    3.6 Key Manufacturers Biomedical Refrigerators and Freezers Product Offered
    3.7 Mergers & Acquisitions, Expansion Plans

4 Market Size by Type
    4.1 Production and Production Value for Each Type
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