Press release
Medical Refrigerator Market Growth Boosting by Increasing Demand for Blood Storage Centers and Blood Banks
Demand Analysis of Medical Refrigerators Market Overview:Medical Refrigerators Market is predicted to grow at a moderate CAGR of 5.8% during the forecast period covering 2022 to 2029. Medical Refrigerators Market share is estimated to reach a value of nearly US$ 5.15 Billion by 2029.
The "Medical Refrigerators Market" think about 2022, the industry landscape is secured from driving factors to upstream markets and the by and large state of the market. An in-depth examination of the by and large development prospects for the worldwide and regional market was given which was based on an in-depth investigation of key industry players, essential and secondary information.
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An increase in blood transfusion procedures is being driven by an increase in the number of surgeries performed, as well as an increase in the prevalence of disorders such as anaemia and cancer. During the storage and transportation of blood and blood components, it is critical to maintain optimal temperature and hygiene. According to the American National Red Cross, nearly 16 million blood components are transfused in the United States each year. As the demand for blood transfusions rises, there is an unmet need for blood storage centres and blood banks, which is propelling the medical refrigerators and freezers market forward.
A key growth driver for the medical refrigerators market is the increased use of medical refrigerators to maintain the integrity of blood and plasma products. Clinical and healthcare practitioners' awareness of GMP for fresh frozen plasmas has risen as a result of advances in transfusion medicine, broadening the horizon for medical refrigeration players.
Industry Developments-
According to the American Association for the Advancement of Science (AAAS), US investment in medical and health R&D increased by 6.4 present from 2017 to 2018, reaching USD 194.2 billion in 2018. The National Health and Medical Research Council (NHMRC) of the Australian government has a yearly budget of USD 900 million for medical research. The increased emphasis on providing better medical services to people all over the world has resulted in developed economies, health organisations, and philanthropists investing heavily in R&D activities, opening up a variety of market opportunities.
Competitive and Segmentation Analysis-
As well as giving an outline of effective promoting procedures, market contributions, and later improvements of driving companies, the report moreover offers a dashboard diagram of driving companies' past and display execution. A few strategies and analyses are utilized within the inquire about report to supply in-depth and precise data approximately the Medical Refrigerators Market.
Market Growth Reports lists out all the Medical Refrigerators Market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:, Thermo Fisher Scientific Inc., Blue Star Limited, Haier Biomedical, Aucma, Standex International Corporation, Godrej & Boyce Manufacturing Co Ltd., Helmer Scientific Inc., Zhongke Meiling Cryogenics Company Limited, Fiochetti, PHC Holdings Corporation, Follett LLC, Labcold, and others.
Report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
Key Segments
Medical Refrigerator Market by Type, 2020-2029, (USD Billion) (Units)
Blood Bank Refrigerator & Plasma Freezer
Laboratory Refrigerator & Freezer
Pharmacy Refrigerator & Freezer
Chromatography Refrigerator & Freezer
Enzyme Refrigerator & Freezer
Ultra-Low-Temperature Freezers
Cryogenic Storage Systems
Medical Refrigerator Market by End-User, 2020-2029, (USD Billion) (Units)
Blood Banks
Pharmaceutical Companies
Hospital & Pharmacies
Research Institutes
Medical Laboratories
Diagnostic Centre
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Detailed Table of Content
Introduction
Research Scope
Market Segmentation
Research Methodology and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Global Market Overview
Key Market Indicators
Emerging Market Trends
Macro and Micro Economic Factors
Production Process Analysis
Industry SWOT Analysis
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Global Medical Refrigerators Market, by Region
North America is expected to hold the largest share of the global medical refrigerator market. Because of the significant increase in life sciences research activities on the treatment of diseases by academic and research institutes, the demand for medical refrigerators and freezers is increasing in North America. Furthermore, the rising prevalence of chronic and infectious diseases, as well as the rising demand for personalized medicines, is propelling the market forward.
North America (U.S., Canada, Mexico)
Europe (U.K., France, Germany, Spain, Italy, Central and Eastern Europe)
Asia Pacific (China, Japan, South Korea, ASEAN, India, Rest of Asia Pacific)
Middle East and Africa (Turkey, GCC, Rest of Middle East)
Research Methodology-
Secondary research, primary research, subject matter expert assistance, quality check, and final review were the five phases of the research study on the Medical Refrigerators Market. Market statistics and coherent models were used to assess and forecast market data. Market shares and significant trends were also taken into account when preparing the research. Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis, and Vendor Share Analysis are some of the various data models available.
Highlights of Medical Refrigerators Market:
Market Expansion: Comprehensive information on the product portfolios of the top players in the Medical Refrigerators Market Size.
Product Development/Innovation: Detailed insights on the upcoming technologies, R and D activities, and product launches in the market
Evaluation of Competitors: depth assessment of the market strategies, geographic and business segments of the leading players in the market
Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies.
Diversification of the Market: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Medical Refrigerators Market.
Reasons to Purchase this Report
The most recent market developments, market shares, and strategies implemented by the major market players
The market segment that is expected to dominate, as well as the market segment with the highest CAGR throughout the forecast period
The current and future state of the global cryogenic equipment industry in developed and emerging markets
Regions/countries expected to have the fastest growth rates at some point during the forecast period
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