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Biomedical Warming and Thawing Devices Market Size

Report ID: GMI2912
Published Date: Jul 2021
Report Format: PDF

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Biomedical Warming and Thawing Devices Market Size

Biomedical Warming and Thawing Devices Market size was valued at around USD 179 million in 2020 and is estimated to grow at a CAGR of 8.5% between 2021 and 2027. Increasing use of cryopreservation techniques for preservation of cells and tissues is expected to drive the market growth. Augmenting demand for automated biomedical warming and thawing devices is also contributing positively to the market expansion. Growing demand for pharmaceutical research is further poised to increase the adoption rate for biomedical warming and thawing devices, thereby fuelling the market progression during the forecast timeframe.

Biomedical Warming and Thawing Devices Market Overview

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However, concerns associated with large batch size and stringent regulatory protocols related to use of cryopreserved and thawed biomedical products may render negative impact on the biomedical warming and thawing devices market share. Technical concerns such as low survival of the biomaterial sample, altered gene expression, loss of cellular characteristics, epigenetic changes, and shift in protein composition may limit the industry expansion. Moreover, regulatory guidelines for utilizing cryopreserved biologics in biomedical research have boosted the requirement for documented cell handling protocols. The storage and thawing of biomedical products are a complicated, sensitive and technology-oriented procedure.

Biomedical Warming and Thawing Devices Market Report Attributes
Report Attribute	Details
Base Year:	2020
Biomedical Warming and Thawing Devices Market Size in 2020:	USD 178.9 million
Forecast Period:	2021 to 2027
Forecast Period 2021 to 2027 CAGR:	8.5%
2027 Value Projection:	USD 308.1 million
Historical Data for:	2016 to 2020
No. of Pages:	140
Tables, Charts & Figures:	203
Segments covered:	Product, Sample, End-use and Region
Growth Drivers:	Growing number of blood banks and blood infusion centers worldwide Increased development of sample analysis and studies in the biotechnology sector Increasing number of road accidents and trauma cases leading to blood transfusions
Pitfalls & Challenges:	Strict regulations related to thawed biomedical products and samples Issues related to large batch size

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Ideal conditions need to be maintained as per the guidelines for cryopreserved products to ensure maximum survival rate, viability, and functional importance. As a result, the storage and thawing of blood components and other products is monitored continuously by the U.S. FDA. The protocol differs as per country, as the mandate for defrosting and transportation of blood products differ with variable levels of technical assistance and legal framework. The regulatory frameworks majorly comprise of legislative instruments including legislation and regulations along with non-legislative instruments that includes policies, guidelines and supporting documents.

Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

The market size of biomedical warming and thawing devices exceeded USD 179 million in 2020 and will observe a CAGR of 8.5% through 2027.

Automatic segment will witness a CAGR of 8.8% through 2027 with growing preference for automated systems and numerous advantages offered by automated thawing devices.

Blood products segment had held around 46% market share in 2020 on account of increasing accidental deaths and injuries causing severe bleeding and blood loss globally.

Blood banks and transfusion centers segment had recorded valuation of USD 57 million in 2020 owing to the policies in various countries promoting blood and plasma donation.

U.S. market will record valuation of over USD 92 million by 2027 on account of rising cases of trauma and growing acceptance of advanced devices in the country.