U.S. Biomedical Refrigerators and Freezers Market Size

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. Biomedical refrigerators and freezers are essential pieces of equipment used in healthcare, pharmaceutical, and research facilities. They are designed to store biological samples, vaccines, medications, and other temperature-sensitive materials under precise conditions to ensure their integrity and efficacy.

The growing geriatric population base in the U.S. is boosting demand for biomedical refrigerators and freezers. According to the statistics from the U.S. Census Bureau, the number of people in the U.S. aged 65 years and older was 54 million in 2019 and is projected to reach 80 million by 2040. This demographic shift is leading to a higher prevalence of age-related chronic diseases, such as cardiovascular diseases, diabetes, Alzheimer's, osteoarthritis, and cancer. Biomedical refrigerators and freezers play a crucial role in storing biological samples, vaccines, and medications essential for diagnosing and treating these conditions.

Furthermore, the demand for biomedical refrigerators and freezers is increasing rapidly, fueled by advances in biopharmaceuticals and the rising need for organ transplantation. As medical science progresses, there has been a surge in the development of biologics, vaccines, and specialized medications, all of which need precise temperature control for proper storage and preservation. Additionally, these refrigerators and freezers are essential for maintaining the quality and viability of donated organs by ensuring optimal temperatures, which is crucial for both short-term storage in hospitals and longer-term storage in specialized organ banks and transplant centers.