Biomedical Refrigerators and Freezers Market size to exceed $5.5Bn by 2030

Biomedical Refrigerators and Freezers Market size is anticipated to reach USD 5.5 billion by 2030, as per a recent research report announced by Global Market Insights Inc.
 

Rising prevalence of chronic diseases and genetic disorders has fuelled the need for organ transplantation and biopharmaceuticals. As a result, pharmaceutical giants, vaccine manufacturers, and medical research centers have ramped up clinical research, thus accelerating the demand for biomedical refrigerators and freezers. Technological advancements and novel biopharmaceuticals have contributed to a higher success rate in organ transplant procedures with a better post-transplant outcome.
 

Surge in trauma patients to drive the need for blood bank refrigerators

Blood bank refrigerators segment held over 28% share of the biomedical refrigerators and freezers market in 2021. A blood bank refrigerator is a safe and convenient storage option for biomedical components such as blood components that require specific temperatures to stay potent. It consists of an electric thermostat that helps maintain optimum temperature, ensuring the integrity of frozen blood. Rising incidence of road accidents and sports-related injuries will propel the demand for blood bank refrigerators in hospital settings.
 

Browse key industry insights spread across 201 pages with 257 market data tables & 12 figures & charts from the report, “Biomedical Refrigerators and Freezers Market Statistics By Product (Plasma Freezers, Blood Bank Refrigerators, Lab Refrigerators, Lab Freezers, Ultra Low Temperature Freezers, Shock Freezers), By End-use (Blood Banks, Pharmacies, Hospitals, Research Labs, Diagnostic Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of consists:
https://www.gminsights.com/industry-analysis/biomedical-refrigerators-and-freezers-market
 

Rise in blood drives and campaigns will accelerate biomedical freezer installation

Biomedical refrigerators and freezers market from the blood bank end-use segment is anticipated to witness over 5.5% CAGR between 2022-2030. A dynamic surge in the number of blood banks in developed and developing countries across the globe will complement the industry outlook. Several private and public initiatives have been implemented in the last few years to overcome blood shortages through national-level blood drives. This scenario has fuelled the need for reliable blood blank chain for maintaining the quality of donated blood. Biomedical refrigerators and freezers play a critical role in blood storage in donor campaigns and during the transportation of blood samples.
 

Strong government funding to boost North America biomedical refrigerators & freezers industry

North America biomedical refrigerators and freezers market size was worth more than USD 1 billion in 2021. The region is expected to record promising demand for biomedical freezers in the U.S. and Canada owing to rising R&D expenditure. The region is home to robust biotechnology and pharmaceutical sectors with massive infrastructure budgets and hefty investments. Additionally, the rising prevalence of cardiovascular diseases, diabetes, cancer, and other chronic diseases represents has encouraged extensive R&D initiatives and a large number of clinical trials.
 

Strategic expansion to boost biomedical refrigerators and freezers industry expansion

Azbil Corporation, Haier Biomedical, Aegis Scientific, Inc., Binder, Eppendorf AG, Follett LLC, Helmer Scientific, Liebherr-International AG, Power Scientific, Inc., Panasonic Healthcare Corporation, Thermo Fisher Scientific, Arctiko A/S, Migali Scientific, and B Medical Systems are some of the leading companies in the global biomedical refrigerators and freezers industry.
 

These players are implementing expansion strategies to add new product offerings and technological capabilities. For instance, in January 2022, B Medical Systems announced a substantial investment in a new facility in India. The company aims to advance its production capacity of medical cold chain products comprising of vaccine refrigerators and freezers.