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Thawing System Market Analysis by Types, Applications, End Users, Technology With Forecast Till 2026
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General Electric Company, Sartorius Aktiengesellschaft, Helmer, Inc., Cardinal Health, Inc., Cytotherm Lp, Barkey GmbH & Co. KG, and BioCision, LLC. Are to name a few of the key companies operating in the global thawing systems market.
A report on the market by Transparency Market Research finds that it would rise at a robust 10% CAGR between 2017 and 2026. Rising at this pace, the global thawing systems market would likely reach a valuation of US$350 mn by the end of 2026.
Based on the type of product, the low cost manual thawing systems are seeing significantly high demand in the global thawing system market. This demand is expected to remain intact over the course of the forecast duration. From a geographical standpoint, North America at present holds a dominant position in the global thawing systems market.
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It is mainly powered by the U.S. where a large number of pharmaceutical and biotechnology companies are seen pouring money into drug research and development. Helpful government policies has also led to creation of biobanks to ensure proper storage and supply of blood in hospitals and healthcare centers in the U.S. This has also filliped the thawing system market in the region. Our report projects North America's thawing system market to rise at a CAGR of 11.9% during the forecast period.
Biopharmaceutical Industry Mainly Fuels Thawing System Market
Majorly fuelling the global thawing system market is their rising usage in the biopharmaceutical industry. The lead analyst of our report, further elaborates, "Biopharmaceutical companies that are into manufacture of drugs need thawing systems for transporting and storing pharmaceutical products.
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Further, sterile designs and short process cycles have led to high uptake of thawing systems in end-use industries. Several bio-repositories worldwide are expending large amounts in increasing their storage capacities. All the aforementioned are seen providing a major boost to the global thawing system market." Thawed cells are also finding application in treating chronic health issues such as cancer and diabetes.
Slow Uptake of Thawing System by Small and Medium Vendors Slows Growth
Nevertheless, the global thawing system market is experiencing certain challenges which it needs to overcome in order to grow. One of those is the high cost of automation which makes it particularly difficult for small and medium vendors to adopt those.
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Notwithstanding such temporary setbacks, the global thawing system market would rise in the near term because of the emergence and uptake of automated thawing systems, particularly in research institutes and biopharmaceutical companies due to their advanced applications and efficacy. Rising occurrence of blood related diseases is also expected to have a positive impact on the market.
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