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Prominent players involved in the market include Thermo Fisher Scientific Inc., PHC Corporation, and Eppendorf SE. The leading players in the market employed various strategies for sustained competitive advantage. These market participants are actively engaged in strategic collaborations, partnerships, mergers, etc., to maintain their position in the market, capture the highest market share, and outperform the competition.
For instance, in February 2021, Follett Products, LLC, a division of The Middleby Corporation, and PHC Corporation of North America (PHCNA) announced a partnership to market and distribute PHCNA's PHCbi line of ultra-low temperature (ULT) freezers, pharmaceutical grade refrigerators, and biomedical freezers to Follett's healthcare clientele. These products were integrated with Follett's existing lineup of high-performance refrigerators, freezers, and related offerings. This collaboration positioned PHC Corporation to expand its product range and cater more comprehensively to the needs of healthcare providers, enhancing its market presence and customer satisfaction within the healthcare sector.
Some of the eminent market participants operating in the U.S. biomedical refrigerators and freezers industry include:
U.S. biomedical refrigerators and freezers market size was valued at around USD 1.4 billion in 2023 and is estimated to grow at 5.3% CAGR from 2024 to 2032, driven by a higher prevalence of age-related chronic diseases, such as cardiovascular diseases, diabetes, Alzheimer's, osteoarthritis, and cancer.
The lab refrigerators segment of the U.S. biomedical refrigerators and freezers market is predicted to reach USD 610.9 million by 2032, driven by the increasing demand for laboratory services in research, diagnostics, and healthcare settings.
Aegis Scientific, Inc, Azbil Corporation, B Medical Systems, BINDER GmbH, Eppendorf SE, Follett Products, LLC, Helmer Scientific Inc, Lab Research Products, Migali Scientific among others.
The diagnostic centers segment accounted for USD 521.2 million in 2023 and will grow rapidly through 2032, as they rely on biomedical refrigerators and freezers to store various biological samples, including blood, urine, tissues, and genetic materials.