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Healthcare Thawing System Market – Global Industry Analysis, Size, Share, Trends and Forecast 2018 – 2024
Healthcare Thawing System
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Thawing system is the process developed for defrosting biological samples. The defrosted biological samples are used in cell biology research or for transfusion. Biology research is used in drug discovery, biobanking, assisted reproduction, cellular therapy, and regenerative medicine. Thawing system is widely used in blood banks, hospitals, research centers, and biotechnology & pharmaceutical companies. Thawing system can be automated or manual. An automated thawing system eliminates the risk of contamination and is more efficient and accurate. Moreover, thawing device is designed to rapidly and efficiently thaw the live biological contents of a frosted biological sample with high reproducibility and minimal risk of contamination.
Cell therapy is an important part of immunotherapy that has shown excellent therapeutic ability in several clinical indications. Increasing occurrences of cellular therapeutics to fuel the growth of healthcare thawing system market. Furthermore, the rising automation in bio-pharmaceutical industry promotes the growth of the healthcare thawing system market. Apart from this, rising number of clinical trial operations is likely to have a positive impact on growth of market. According to ClinicalTrials.Gov, the U.S. performs highest number of clinical trial operation per year. However, lack of proper healthcare facilities could restrain the growth of healthcare thawing systems market. Going further, increased funding for research and development activities related to gene therapy and increased awareness of gene therapy are expected to create fruitful opportunities for the growth of healthcare thawing system market during forecast period.
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The Healthcare Thawing System Market is Bifurcated into Product Type and End User.
Segmentation by Product Type
Based on the product type segment is categorized into manual and automated. Manual segment is accounted in the largest market share of 57.1% in 2017. It was worth 82.1 USD million in 2016 and is expected to reach 180.4 million by 2024. Low-cost of Manual thawing systems as compared to the automatic thawing system drives the growth of manual thawing system market. Furthermore, Automatic thawing process improves reproducibility and reduces the chances of human errors. It is used to eliminate the risk of cross-contamination between therapeutics. This type of system is much simpler and more convenient to use as compared to manual thawing system. Hence, the demand for automated thawing system is growing fast as compared to manual thawing system. While the automated are set to grow with a CAGR of 14.14% over the period 2018 - 2024.
Segmentation by End user
The global healthcare thawing system market by the end user is bifurcated into four-part. It includes blood banks & transfusion centers, hospitals & diagnostic laboratories, research & academic institutes, and biotechnology & pharmaceutical industries. Blood Banks& Transfusion Center, and Hospitals & Diagnostics Centers require fast thawing system for the fast and efficient result. Furthermore, Research & Academic Institutes and Biotechnology & Pharmaceutical Industries required bulk processing of thawing object for examination, processing, and other activities. Additionally, these institutions are shifting towards automated thawing system to avoid human errors for a more precise result.
Regional Analysis
Among the region, the market is divided into North America, Europe, APAC and RoW. North America dominated the healthcare thawing systems market. North America healthcare market is projected to reach USD 130.0 million in 2024, growing at a CAGR of 13.15% over the period of 2018 to 2024 The U.S is a key country that is driving the North America healthcare thawing systems market. High adoption of thawing system in the bio-pharmaceuticals industry is the major key factor driving the growth of healthcare thawing systems market in the North America region. The APAC region is expected to grow at the fastest CAGR of 13.79% over the forecast period. China and India are the major countries that augment the growth of healthcare thawing system market in the Asia Pacific region. The growing prevalence of roadside accidents and traumatic conditions are some supporting factors responsible for the growth of the market. Going further, government initiatives in healthcare policies that would lead to the adoption of the healthcare thawing system market in the Asia Pacific region.
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