Press release
Biomedical Refrigerators & Freezers Market to Reach USD 5.8 Bn by 2034, Growing at 5.7% CAGR
Biomedical Refrigerators and Freezers Market
Expansion of the healthcare sector and a surge in aging populations are fueling the demand for biomedical refrigerators & freezers; the aging population is more prone to chronic diseases. The rise in organ transplant is further supporting market expansion.
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They guarantee the viability of biological materials under ideal storage conditions. Biomedical refrigerators and freezers make sure biological samples are kept within a specified temperature range, enabling precise temperature control.
Growth in healthcare access is bolstering the biomedical refrigerators & freezers market growth. These refrigerators and freezers are used by a range of sectors, including healthcare, research, and pharmaceuticals. The products come in various sizes, allowing end-use facilities to choose the optimal storage capacity for their needs.
Market Segmentation
• Type
o Refrigerators
Blood Bank Refrigerators
Laboratory Refrigerators
Pharmacy Refrigerators
Others (Chromatography Refrigerators, etc.)
o Freezers
Laboratory Freezers
Plasma Freezers
Ultra-Low Freezers
Others (Cryogenic Storage Systems, etc.)
• Category
o Upright
o Chest
o Benchtop
o Undercounter
• Capacity
o Below 150 L
o 150 - 300 L
o 300 - 450 L
o 450 - 600 L
o 600 - 750 L
o 750 - 900 L
o Above 900 L
• End-use
o Hospitals & Clinics
o Pharmacies
o Research Laboratories
o Blood Banks
o Diagnostic Centers
o Others (Academic & Research Institutes, etc.)
• Distribution Channel
o Direct Sales
o Indirect Sales
Regional Analysis
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Market Drivers and Challenges
Drivers
• Rise of Biologics: The transition from chemical-based drugs to biologics requires more sophisticated, temperature-controlled environments.
• Organ Transplantation Trends: With over 46,000 organ transplants annually in the U.S. alone, the need for specialized storage is paramount.
• IoT & Digitalization: Real-time monitoring and cloud-based data logging are becoming industry standards to meet regulatory compliance.
Challenges
• High Capital Costs: Advanced ULT units can be prohibitively expensive for smaller clinics and diagnostic labs.
• Environmental Regulations: The phase-out of high Global Warming Potential (GWP) refrigerants (HFCs) forces manufacturers to redesign systems, increasing short-term R&D costs.
Market Trends
1. Sustainable Cooling: Adoption of natural refrigerants (e.g., hydrocarbons) and vacuum insulation panels to reduce energy consumption by up to 30%.
2. AI-Driven Predictive Maintenance: Smart sensors that alert staff to minor temperature drifts before a failure occurs, potentially reducing sample wastage by 50%.
3. Dual-Cooling Configurations: Systems with two independent cooling circuits that ensure continuous operation even if one fails.
Future Outlook
The next decade will see biomedical refrigerators transition from "ancillary equipment" to "critical smart assets." We expect to see full integration with hospital information systems (HIS) and the emergence of magnetic refrigeration technology, which offers a compressor-free, environmentally friendly alternative.
Competitive Landscape
The market is characterized by a mix of established medical technology giants and specialized cooling innovators:
• B Medical Systems
• Eppendorf AG
• Haier Biomedical
• Helmer Scientific
• Liebherr Group
• PHC Holdings Corporation
• Philipp Kirsch GmbH
• Terumo Corporation
• Thermo Fisher Scientific Inc.
• Vest frost Solutions
Recent Developments (2024-2026)
• On May 3, 2023, B Medical Systems India Pvt. Ltd, a unit of B Medical Systems, announced the opening of its cutting-edge global R&D and customer excellence center in Mumbai. The company has been concentrating on expanding its footprint throughout the country to assist its clients and stakeholders in their efforts to create safe, dependable, and sustainable healthcare systems by offering premium medical cold chain solutions, in view of the growing commercial opportunities in India.
• On February 23, 2023, the PHCbi brand VIP ECO SMART ultra-low temperature freezer series was launched for use in medical facilities, universities, and pharmaceutical companies by PHC Corporation of North America. Building on PHCbi's extensive legacy of dependable and inventive ultra-low temperature freezers, this new series offers improved security and usability along with increased energy-saving performance.
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Frequently Asked Questions
• How big was the global biomedical refrigerators & freezers market in 2023?
It was valued at US$ 3.2 Bn in 2023
• How is the biomedical refrigerators & freezers business expected to grow by 2034?
It is expected to reach US$ 5.8 Bn by the end of 2034
• What are the key factors driving the demand for biomedical refrigerators & freezers?
Surge in prevalence of chronic diseases andan increase in demand for organ transplantation
• Which type segment contributed the largest share of the biomedical refrigerators & freezers industry?
The refrigerators segment contributed the highest share in 2023
• How big was North America in the biomedical refrigerators & freezers landscape in 2023?
North America accounted for about 30% in terms of share in 2023
• Who are the prominent biomedical refrigerators & freezers players?
B Medical Systems, Eppendorf AG, Haier Biomedical, Helmer Scientific, Liebherr Group, PHC Holdings Corporation, Philipp Kirsch GmbH, Terumo Corporation, Thermo Fisher Scientific Inc., and Vestfrost Solutions
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Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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