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Medical Cold Chain Storage Equipment Market Share

Report ID: GMI11823
Published Date: Oct 2024
Report Format: PDF

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Medical Cold Chain Storage Equipment Market Share

Global Medical Cold Chain Storage Equipment Market Company Market Share Analysis (2023)

In 2023, key companies like Azenta, Binder, Haier Biomedical, Hoshizaki America and Memmert held a combined market share of 8%-10%. These companies are actively engaging in mergers, acquisitions, facility expansions, and collaborations to enhance their product portfolios, reach more customers, and strengthen their market positions. Companies are investing in Internet of Things (IoT) and smart technologies for real-time monitoring and data logging, improving operational efficiency and regulatory compliance. The increasing focus on sustainability is prompting businesses to develop energy-efficient and environmentally friendly cold chain solutions, which influences their market position.

Medical Cold Chain Storage Equipment Market Companies

Major companies operating in the global medical cold chain storage equipment industry include:

Azenta
Binder
Cardinal Health
Carebios Biological Technology
Darwin Chambers
Elanpro
Farrar
Haier Biomedical
Hoshizaki America
Kendall Cold Chain System
Memmert
Philipp Kirsch
Roemer Industries
Summit Appliance
Thalheimer Kuhlung

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

In 2023, the medical cold chain storage equipment industry surpassed USD 2.9 billion and is projected to grow at a CAGR of 5.3% from 2024 to 2032. This growth is fueled by the surging demand for vaccines and biologics.

The freezers segment was reached USD 1.1 billion in 2023 and is projected to grow at a 5.9% CAGR from 2024 to 2032, driven by rising demand for Ultra-Low Temperature Freezers, especially for storing mRNA vaccines that require very low temperatures.

In 2023, the pharmaceutical segment held approximately 33% of the market share and is projected to witness a CAGR of 5.6% through 2032, led by pharmaceutical manufacturers increasingly embracing advanced cold chain technologies for the production and storage of temperature-sensitive drugs, notably biologics and vaccines.

North America led the global medical cold chain storage equipment market with a share of about 32% in 2023 and is projected to witness around 5.4% CAGR up to 2032. This growth can be attributed to the rising demand for vaccines and biologics, an expanding healthcare infrastructure, ongoing R&D investments, and technological advancements in storage solutions.

Key players in the global medical cold chain storage equipment market encompass Azenta, Binder, Cardinal Health, Carebios Biological Technology, Darwin Chambers, Elanpro, Farrar, Haier Biomedical, Hoshizaki America, Kendall Cold Chain System, Memmert, Philipp Kirsch, Roemer Industries, Summit Appliance, and Thalheimer Kuhlung.