Biomedical Warming and Thawing Devices Market risk factors, Isolation & Research by 2031

Allied Market Research published a report, titled, "Biomedical Warming and Thawing Devices Market by Product (Manual, Automatic), by Sample Type (Blood Product, Stem cell, Embryo, Ovum, Others), by End User (Biotechnology and Pharmaceutical Companies, Hospitals and Diagnostic Laboratories, Blood Banks and stem cell banks): Global Opportunity Analysis and Industry Forecast, 2022-2031." According to the report, the global biomedical warming and thawing devices industry generated $159.3 million in 2021, and is estimated to reach $376.7 million by 2031, witnessing a CAGR of 9.1% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

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Covid-19 Scenario

The outbreak of the COVID-19 pandemic hampered the growth of the global biomedical warming and thawing devices market.
Due to strict laws and lockdown rules, there were less road traffic accidents, reduced number of blood donation campaigns, and less number of in-vitro fertilization cases, which hindered the growth of biomedical warming and thawing device market.
Conversely, with the pandemic receding, companies in the space began their operations at their full swing and the market is in the path of recovery.

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Segmentation Analysis of the Industry:

On the basis of product, the market is classified into manual and automatic. The automatic segment dominated the market in 2021, and is expected to continue this trend during the forecast period, owing to increase in the usage of automatic warming and thawing device for storage of cryopreserved items and effectiveness of device to store them.

On the basis of sample, the market is classified into blood products, stem cell, embryo, ovum, and others. The blood product segment dominated the market in 2021, and is expected to continue this trend during the forecast period, owing to increase in the prevalence of blood-related disorders, rise in the activity of blood donation, and rise in the number of blood banks and blood transfusion centers.
On the basis of end user, the market is classified into biotechnology & pharmaceutical companies, hospitals & diagnostic laboratories, and blood banks & stem cell banks. The hospitals & diagnostic laboratories segment dominated the market in 2021, and is expected to continue this trend during the forecast period, owing to rise in the expenditure by government to develop healthcare infrastructure and rise in the number of hospitals & diagnostic laboratories.

North America accounted for a majority of the global biomedical warming and thawing devices market share in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to high presence of biomedical industry who manufacture biomedical warming and thawing device and technological advancement in the healthcare sector. Asia-Pacific is anticipated to witness lucrative growth, owing to increase in the activity of blood donation, rise in the number of blood banks and blood transfusion centers, and increase in expenditure by government to develop the healthcare sector.

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Key findings of the study:

• By product, the automatic segment was the highest contributor to the market in 2021.
• By sample, the blood products segment was the highest contributor to the market in 2021.
• By end user, the hospitals & diagnostic laboratories banks segment dominated the market in 2021, and is expected to continue this trend during the forecast period.
• By region, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

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