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U.S. Biomedical Refrigerators & Freezers Market size to exceed $2 Bn by 2032

  • Published Date: January 16, 2023

U.S. Biomedical Refrigerators & Freezers Market size is anticipated to surpass USD 2 billion by 2032, according to a new research report by Global Market Insights Inc.

The percentage of people aged 65 years and above is increasing across the U.S. At present, there are over 46 million individuals in the age category of 65 years and above, a number that is projected to reach approximately 90 million by 2050. Also, according to the U.S. Population Reference Bureau (PRB)’s projections, 1 in 5 Americans will be aged 65 years or older by 2030.

The utilization of biomedical freezers and refrigerators has increased considerably as compared to other healthcare services given the rapid expansion of the baby boomer population and the surging number of people suffering from chronic conditions. Several different biomedical freezer and refrigerator technologies are also being developed for the storage of medications and vaccines. These factors are likely to boost U.S. biomedical refrigerators and freezers market gains over the forecast period.

Lab refrigerators to gain traction for temperature-controlled storage of vaccines

Lab refrigerators captured more than 12.5% value of U.S. biomedical refrigerators and freezers industry in 2022. These types of refrigerators have witnessed significant adoption across the healthcare sector, especially during the COVID-19 pandemic. The need for vaccines skyrocketed during this period to reduce the mortality rate from the disease. Lab freezers and fridges can provide appropriate temperature-controlled storage for the COVID-19 vaccine and many other medications, which will further fuel product deployment.

Browse key industry insights spread across 70 pages with 31 market data tables & 14 figures & charts from the report, “U.S. 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 Centres), Country Outlook, Industry Analysis Report, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” In detail along with the table of contents:

Need for cold chain reliability in blood sample storage to fuel demand for biomedical refrigeration in blood banks

The blood bank segment accounted for more than 40% share of U.S. biomedical refrigerators and freezers market in 2022, says the report. The network of blood banks in developed as well as developing economies is expanding at a commendable pace, given the rising prevalence of road accidents and subsequent rise in the use of blood transfusion during surgical procedures. The robust need for a reliable cold chain to preserve and maintain donated blood, store blood bags, and transport blood samples safely to laboratories will thus have a positive impact on the overall market forecast.

Diagnostic centers are anticipated to hold over 18% of the biomedical refrigerators and freezers industry in the U.S. by 2032. The steady upsurge in chronic and infectious conditions among the population has created a strong demand for treatment products such as reagents and diagnostic kits. Since these items are generally stored in medical facilities, it is likely that the need for efficient biomedical freezers and fridges will increase in diagnostic centers across the United States.

Introduction of novel products to emerge as key progrss growth strategy for industry participants

Aegis Scientific, Inc, Continental Scientific, Follett Products, LLC, Helmer Scientific, LLC, Lab Research Products, NuAire, Migali Scientific, Panasonic Healthcare Corporation (Panasonic), Powers Scientific, Inc, So-Low Environment Equipment, and Thermo Fisher Scientific Inc., are among the top participants operating in the U.S. biomedical refrigerators and freezers market. These companies are launching new products with advanced features in order to expand their presence in the market.

Authors: Sumant Ugalmugle, Rupali Swain

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