Press release
North America Biomedical Refrigerators and Freezers Market share forecast to witness considerable growth from 2019 to 2024
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According to the Graphical Research new growth forecast report titled “ North America Biomedical Refrigerators and Freezers Market analysis based on Product, End-use, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2018 - 2024”, estimated to exceed USD 1.4 billion by 2024.
Extensive use of biomedical refrigerators and freezers in drug discovery process should foster industry growth over the forecast timeframe. Many new drug approvals that require biomedical refrigerators for maintaining optimal temperature of the drug dose will stimulate business growth.
Surging use of refurbished equipment and excessive cost should hinder market growth. Additionally, highly fragmented market can outcome in low revenue that will further hinder North America biomedical refrigerators and freezers industry growth.
Plasma freezers product segment of North America accounted for 29.3% revenue share in 2017 as a result of rising demand for plasma freezers coupled with high adoption rate in hospitals, blood banks, as well as research organizations for storage of fresh frozen plasma (FFP).
Shock freezers product segment of North America will grow at 4.8% over the forecast period due to associated benefits and escalating use of shock freezers in biological preparations for maintaining optimal temperature.
Research labs end-use segment of North America held revenue of USD 88.2 million in 2017 owing to growing demand for freezers and refrigerators in laboratories to complete regulatory requirements. Many clinical and research labs use medical-grade refrigeration to authorize integrity of vaccines, sensitive samples, reagents and other patient specimens. Rising adoption for above-mentioned authorization should further boost market growth.
U.S. biomedical refrigerators and freezers market accounted for 72.5% revenue share of North America in 2017, due to surging rate of blood transfusion, accident victims, sickle cell anemia, and cancer. Furthermore, rising elderly population being more susceptible to acquire chronic diseases will increase demand for biomedical refrigerators and freezers in the country during forecast timeline.
Key business competitors operational in North America biomedical refrigerators and freezers market are Aegis Scientific, Arctiko, Azbil, B Medical Systems, Binder, Eppendorf, Follett, Haier Biomedical, Helmer Scientific, Liebherr-International, Migali Scientific, Panasonic Healthcare Corporation of North America, Powers Scientific, and Thermo Fisher Scientific. Notable market players are adopting various strategies such as, merger, acquisition, new product launch to reap profits in North America biomedical refrigerators and freezers market. For instance, in June 2018, Helmer Scientific entered into an agreement with Becton, Dickinson and Company for medical-grade refrigerated solution with automated dispensing system. This strategy will help the company to provide innovative product to its customer across the globe.
Browse key industry insights along with Table of Content @ https://www.graphicalresearch.com/industry-insights/1027/north-america-biomedical-refrigerators-and-freezers-market
Segments we Cover:
North America Biomedical Refrigerators and Freezers Market By Product
Plasma freezers
Blood Bank Refrigerators
Lab Refrigerators
Lab Freezers
Ultra-Low Temperature Freezers
Shock Freezers
North America Biomedical Refrigerators and Freezers Market By End-use
Blood Banks
Pharmacies
Hospitals
Research Labs
Diagnostic Centers
Other
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Parikhit B.
Corporate sales,
Graphical Research
Email: sales@graphicalresearch.com
Web: https://www.graphicalresearch.com
About Graphical Research:
Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.
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