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Biomedical Refrigerators And Freezers Market By Refrigerator & Freezer Type (Blood Bank Refrigerators, Shock Freezers, Laboratory Refrigerators, Laboratory Freezers, Plasma Freezers, Ultra Low Freezers, Cryogenic Storage Systems); By End-User (Hospitals, Pharmacies, Research Laboratories, Blood Banks, Diagnostic Centers, Others) - Global Demand Analysis & Opportunity Outlook 2027

Published On : July, 2018 REP-ID-886 Category: Healthcare

Global Biomedical Refrigerators & Freezers Market Overview

Samples having biological origin with temperature sensitivity need specific conditions for their operational storage. Biomedical refrigerators and freezers are medical equipment that can be used for storing various biomedical samples. These biomedical samples include biological reagents, vaccines, medicines, blood, plasma, blood derivatives, ribonucleic acid (RNA), deoxyribonucleic acid (DNA), and flammable chemicals. The continual upsurge in the number of blood banks in developing and developed regions united with government projects aimed at increasing consciousness about blood donation have also supported the sustainable growth of the market in the past few years. These biomedical freezers are available in different specifications to suit the specific commercial needs. For instance, the plasma freezers are employed for storage of blood and plasma products at -30°C to -40°C and the ultra-low temperature freezers are utilized for enduring storage of DNA and RNA samples products at a range of -70°C to -80 °C. Growing need for personalized vaccines stemming from increasing demand to conduct cellular therapy will further continue to positively impact growth of the global biomedical refrigerator market.

Market Size & Forecast

Biomedical refrigerators and freezers market is anticipated to record a significant CAGR over the forecast period. The rapid rise in the number of blood banks in the developed and the developing countries is anticipated to help the global freezers and refrigerators market growth over the forecast period.

The global biomedical freezers & refrigerators market is anticipated to grow rapidly due to increasing advancements with rising technological & infrastructural gradations in healthcare sector. According to ISMP (Institutes for Safety Medication Practices), England, more than 20% of the healthcare practitioners have reported adverse patient effects due to deficiencies in storage and inventory management practices. This has resulted in an increased demand for efficient temperature dependent storage systems. This is expected to make the biomedical refrigerators and freezers market expand in the near future.

On the basis of regional platform, global biomedical refrigerators and freezers market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North-America holds a dominant position in terms of revenue in the global market due to the highly developed healthcare infrastructures, the presence of a large number of biomedical companies, and the vast life sciences research initiatives undertaken every year. High expenditure on hospital and healthcare infrastructure is a key factor for the region’s dominance as well.

Biomedical Refrigerators & Freezers Market Size

However, Asia-Pacific is estimated to be the most lucrative region of all owing to the continuous rise in the geriatric population along with increase in the number of chronic diseases and subsequent blood transfusion procedures increasing the market in the region. Furthermore, the increasing economic development in countries such as China & India are expected to further aid in the growth of the biomedical freezers market.

Market Segmentation

Our-in depth analysis of the global biomedical refrigerators and freezers market includes the following segments:

By Refrigerator & Freezer Type

  • Blood Bank Refrigerators
  • Shock Freezers
  • Laboratory Refrigerators
  • Laboratory Freezers
  • Plasma Freezers
  • Ultra Low Freezers
  • Cryogenic Storage Systems
    • Laboratory freezer
    • LN2 Controlled rate freeze
    • Glacier G50
    • Blast freezer

By End-User

  • Hospitals
  • Pharmacies
  • Research Laboratories
  • Blood Banks
  • Diagnostic Centers
  • Others

By Region

Global biomedical refrigerators and freezers market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (GCC, North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Biomedical Refrigerators & Freezers Market Share

Growth Drivers & Challenges

High demand for blood transfusions, organ transplant, biopharmaceuticals and cellular therapies besides upsurge in the number of blood banks, hospitals, research laboratories, diagnostic centers and educational institutes should propel the global biomedical refrigerators and freezers market share over the forecast period. Excessive waste of vaccines, laboratory chemicals and other biological products owing to inappropriate storage conditions is a main aspect influencing the operational efficiency and profitability of laboratories and pharmacies. The constant rise in the number of blood banks in developing and developed regions combined with government initiatives aimed at raising awareness about blood donation have also favored the sustainable growth of the market in the past few years. Growing demand for eco-friendly refrigerating solutions that limit emission of dangerous hydro-fluorocarbons (HFCs) combined with rush in government funding in the biopharmaceutical R&D of sector will propel biomedical refrigerators and freezers market growth.

However, high purchase costs, energy costs and maintenance costs associated with biomedical refrigerators and freezers are anticipated to restrain the growth of the market. Moreover, existence of huge number of local players presenting cheaper products, and increasing trend of utilizing refurbished equipment globally due to its cheaper price is expected to affect the global biomedical refrigerators and freezers market adversely.

Key Players

  • Aegis Scientific, Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • ARCTIKO A/S
  • Thermo Fisher Scientific, Inc.
  • Philipp Kirsch GmbH
  • Haier Biomedical
  • Panasonic Healthcare Co.
  • BioMedical Solutions, Inc.
  • Bionics Scientific Technologies (P) Ltd.
  • Coldway
  • Eppendorf AG

Scope & Context

Overview of the Parent Market

Analyst View

Segmentation

The Global biomedical refrigerators and freezers market is segmented as follows:

  • By Refrigerator & Freezer Type Market Size & Y-O-Y Growth Analysis 
  • By End-User Market Size & Y-O-Y Growth Analysis
  • By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

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