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Global Biomedical Refrigerators and Freezers Market Study Offering Deep Insight Related to Growth Trends until 2022 | Top Key Players- Arctiko A/S, Binder GmbH, Biomedical Solutions Inc., Bionics Scientific Technologies Co., Ltd., Coldway SA, Desmon S.p.A
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Growing prevalence of various diseases is projected to boost demand for vaccines in the healthcare institutions globally. In addition, increasing advancements in biobanking techniques is projected to impact the global market growth positively. Fact.MR states that the global market of biomedical refrigerators and freezers is projected to reflect a CAGR of 5.7% over the forecast period, 2017-2022.
Factors Fuelling the Global Market Growth
Growth of the global biomedical refrigerators and freezers market is mainly bound to various macro-economic and micro-economic factors. Prevalence of various disorders is projected to boost demand for vaccines in various healthcare institutions. Treatment of various diseases will also continue to boost demand for blood and derivatives of blood. Biomedical freezers and refrigerators is projected to witness significant demand in the research laboratories, blood banks, educational institutions, hospitals and diagnostic centers. Surge in demand for storage of biomedical samples will continue to fuel adoption of biomedical refrigerator and freezers globally.
Vaccination management is becoming a major concern in various healthcare and research institutions. Growing need for storing biomedical samples at exact and accurate temperature will further fuel adoption of biomedical freezers and refrigerators globally. Moreover, growth of the cell therapy has significantly revved up production of medicines, custom-made vaccine products and blood transfusion. Increasing demand for storage of the biomedical samples and products attributed to growing need for cell therapy is further projected to boost demand for biomedical freezers and refrigerators. These factors will continue to impact growth of the global market of biomedical refrigerators and freezers throughout the forecast period.
In addition, demand for biomedical freezers and refrigerators will further continue to increase due to growing investment in the research and development. Researchers are significantly focusing on development of various innovative treatment procedures and medical products for the treatment of various diseases. Development of innovative techniques and products has led to increasing demand for various biomedical samples globally. Educational institutions are also increasingly investing in research and development in collaboration with various healthcare institutions. Growing investment in research and development by various healthcare and educational institutions is projected to contribute towards the global market growth of biomedical refrigerators and freezers throughout the forecast period.
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Growing developments in the biobanking technology has transformed various aspects of science including biospecimen science and biorepository. With the growing advancements in biobanking, adoption of automated technology and robotic processing and handling process of the samples is projected to make the process of biobanking more effective. Moreover, development of various software applications that helps in storage management of blood and other biomedical samples is further projected to impact the global market growth of biomedical refrigerators and freezers positively.
Vaccine Management to Impact Global Market Growth
Exposure of the vaccines beyond the recommended temperature range can reduce its effectiveness during administration. Demand for vaccines is expected to increase attributed to prevalence of various diseases globally. Vaccines need to be stored in the recommended temperature in order to deliver effective administration. Growing need to store vaccines in accurate and exact storage conditions for effective administration will continue to rev up adoption of the biomedical refrigerators and freezers in the healthcare industry. Production of custom-made vaccines, medicines and blood transfusions attributed to growth of cellular therapy is further expected to contribute towards growth of the global biomedical refrigerators and freezers market during the forecast period. As the need for vaccine management arises, demand for the biomedical refrigerators is expected to remain high in the global market during the forecast period. Such factors are expected to contribute towards growth of the global biomedical refrigerators and freezers market during the forecast period.
Plasma Freezer Products to Represent a Leading Segment
Growing need to store blood plasma is expected to rev up demand for plasma freezers in the global market. On the basis of product type, the plasma freezers segment is expected to witness the highest revenue growth, accounting for a value of over US$ 400 Mn by the end of 2022. On the other hand, the cryogenic storage systems product type segment is expected to register a robust CAGR during the forecast period.
Based on end user, the hospitals segment is expected to generate significant revenues, recording a value of over US$ 300 Mn by the end of 2017. However, the research laboratories end user segment is expected to register a significant CAGR through 2022.
Competition Tracking
Leading market players operating in the global biomedical refrigerators and freezers market include Aegis Scientific, Inc., Arctiko A/S, Binder GmbH, Biomedical Solutions Inc., Bionics Scientific Technologies Co., Ltd., Coldway SA, Desmon S.p.A, Eppendorf AG, Froilabo SAS, Gram Commercial SAS, Helmer Inc., LabRepco Inc., Liebherr International AG, Panasonic Healthcare Co., Ltd., Philips Kirsch GmbH, Terumo Corporation and Thermofisher Scientific Inc.
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