Biomedical Refrigerators And Freezers Market Size 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 (U.S, Canada, Germany, UK, France, Spain, Italy, Russia, Ukraine, Poland, China, Japan, India, Australia, Malaysia, Indonesia, Thailand, Brazil, Mexico, Argentina, South Africa, UAE, Saudi Arabia, Qatar, Kuwait, Egypt), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024

Published Date: November 2016 | 145 Pages | Report ID: GMI822 Report Format: PDF

  Request Sample Inquiry Before Buying
Summary Table of Contents Industry Coverage Methodology Request for Customization

Industry Trends

Biomedical Refrigerators And Freezers Market size was valued at over USD 2.4 billion in 2015, with 4.0% CAGR growth anticipated from 2016 to 2024.

U.S. Biomedical Refrigerators and Freezers Market Size, By Product, 2012- 2024 (USD Million)
Europe Biomedical Refrigerators And Freezers Market Size, By Product, 2012- 2024 (USD Million)

Get more details on this report by requesting a free sample copy

Rising geriatric population, technological augmentation, infrastructural upgradation in healthcare facilities and research laboratories, and rise in medical tourism will drive the global biomedical refrigerators and freezers market size. Advances in regenerative medicine, drug discovery and bio-banking techniques coupled with increasing research activities in the field of biomedical sciences should boost the development of innovative products.

Rising demand for eco-friendly refrigerating solutions that control emission of harmful hydrofluorocarbons along with surge in government R&D funding in the biopharmaceutical sector will propel biomedical refrigerators and freezers market growth.

High demand for organ transplant, blood transfusions, biopharmaceuticals and cellular therapies along with rise in number of blood banks, research laboratories, hospitals, diagnostic centres and educational institutes should drive the global biomedical refrigerators and freezers market share over the forecast timeframe.

Presence of large number of local players providing cheaper refurbished equipments and high purchase costs, maintenance costs and energy costs of biomedical refrigerators and freezers should restrain industry expansion.

Biomedical Refrigerators And Freezers Market, By Product

Biomedical refrigerators and freezers market size has large acceptance in blood banks, research laboratories, diagnostic centres and hospitals. The global plasma freezers market was valued at over USD 774 million in 2015 and should exceed USD 1073 million by 2024. According to the American Society for Apheresis (ASFA), the extensive use of plasmapheresis technique will spur adoption of plasma freezers in hospitals, blood banks, and research organizations for storage of Fresh Frozen Plasma (FFP).

Blood bank refrigerators were valued at over USD 704 million in 2015, due to rising government expenditure, growing number of surgical procedures and rising demand for blood bank refrigerators in scientific, medical and research sectors. Laboratory refrigerators, freezers and ultra-low temperature freezers should also witness substantial growth over the forecast period.

Biomedical Refrigerators And Freezers Market, By End User

Major applications include blood banks, pharmacies, hospitals, research labs, diagnostic centers and others. Blood banks dominated the biomedical refrigerators and freezers market share with over 38% revenue for  2015 and was valued at over USD 932 million. It will witness a robust 4.3% CAGR over the forecast timeframe.

Hospital was second largest revenue generating segment valued at over USD 543 million in 2015. Pharmacies and diagnostic centers will also show significant growth during the forecast timeframe owing to their emerging application.

Biomedical Refrigerators And Freezers Market, By Region

Europe driven by UK and Germany biomedical refrigerators and freezers market share, could touch close to USD 800 million by 2024, owing to increasing investments by key manufacturing companies.

U.S. biomedical refrigerators and freezers market size contributed to over 73% of regional revenue share in 2015. Increasing prevalence of chronic and infectious diseases, growing demand for personalized medicines and favorable government initiatives should drive business growth.

APAC will witness lucrative growth over the forecast period due to rising R&D expenditure, developments in pharmaceutical and biotechnology sectors and expansion strategies adopted by leading biomedical refrigerators and freezers market players. Furthermore, advances in clinical applications, patient blood management and cellular therapies management have created potential biomedical refrigerators and freezers market growth opportunities.

Latin America was valued at USD 130.7 million in 2015 and should witness a noticeable 4.9 % CAGR to exceed USD 200 million by 2024. Growing number of blood bank refrigerators and plasma freezers installation coupled with pouring investments for research facilities will accelerate business growth.

Competitive Market Share

Global biomedical refrigerators and freezers market share is highly fragmented in nature due to the presence of several large and small manufacturers. The industry is highly competitive owing to the introduction of technologically advanced and innovative products to grab maximum global biomedical and refrigerators and freezers market share.

Some of the key industry players are Aegis Scientific, Eppendorf, Haier Biomedical, Philipp Kirsch, Helmer Scientific, Leibherr Group, Panasonic Healthcare, Thermo Fisher Scientific and Terumo Corporation.

Biomedical Refrigerators And Freezers Industry Background

Global biomedical refrigerator and freezers market share is dominated by few top industry players. These players have a global presence with support centres, which allow them to cater to various lucrative markets.  Increased government R&D funding in pharmaceutical sector and expansion of research facilities is improving the adoption rate of biomedical refrigerators and freezers market size. The growing demand for environment friendly refrigerator and freezers, have enhanced focus on eco-friendly technological modifications in biomedical refrigerators and freezers.

Stringent legislation by the EU MDD is used for designing, manufacturing, testing, and marketing various types of medical devices such as biomedical refrigerators and freezers (Class II (a) medical instrument) with the essential safety and performance. The global companies focus on receiving certification for its main products and quality systems so that all of its products satisfy all existing and upcoming regulatory requirements.

What Information does this report contain?

Historical data coverage: 2013 to 2015; Growth Projections: 2016 to 2024.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

Our Market Research Reports Include:

  • Market snapshot
  • Market Segmentation
  • Value Chain Analysis
  • Growth Dynamics
  • Potential Market Opportunities
  • Regulatory Overview
  • Technology Evolution
  • Innovation & Sustainability

Why Global Market Insights?

 Comprehensive Research
  • All-inclusive coverage
  • In-depth and granular data (ex: information for 8 to 15 countries, with clients open to add to this list, in each report)
  • Penetrative insights & latest trends
  • Offers holistic understanding of the market
 Data Accuracy & Reliability
  • Unique methodology
  • Iterative in nature to eliminate errors
  • Detailed methodology, scope, assumptions and data sources available for reference
 Post-Sales Support
  • Committed to making a positive difference for our clients
  • Given the nature of this industry, we are committed to ensure that our clients get maximum return on their investment in our services
  • Every purchase comes with an option to obtain additional information:
    • up to 10% of the original cost
    • 45-minute analyst tele-call to obtain further clarity on the market.
 Security & Confidentiality
  • Global Market Insights, Inc. strictly adheres to PCI-DSS security norms.
  • Only PCI-DSS compliant payment methods used for highest level of client data security
This site is protected by Trustwave's Trusted Commerce program Authorize.Net Merchant - Click to Verify

Connect with our sales team

We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies. More info. I Agree