Biomedical Refrigerators and Freezers Market 2016
TMR analysts suggest that the global biomedical refrigerators and freezers market will amass a prominent share in overall revenues from emerging markets in the next few years. To appeal to clients and exploit the vast growth opportunities in these regions, leading vendors are being compelled to offer low-priced products and enter into collaborations with promising regional players.
Rise in Research Activities and High Demand for Blood Transfusion and Personalized Medicines to Stimulate Market’s Growth
The demand for biomedical refrigerators and freezers has substantially increased in the past few years, primarily owing to the sustained increase in research activities in the biomedical industry. The rising prevalence of a number of infectious and chronic diseases across the globe, alarming rise in the world’s geriatric population base, and rising healthcare expenditures are pushing the development of healthcare infrastructures across the world. The increased demand for personalized medicines and a vast rise in the numbers of blood transfusions taking place across the globe have further increased the demand for reliable biomedical refrigerators and freezers on a global front.
View the report @ http://www.transparencymarketresearch.com/biomedical-refrigerators-freezers-market.html
The market has also benefitted from government initiatives the increased demand for technological upgrades in healthcare infrastructure, especially in emerging economies with flourishing medical tourism industry and a rising population of affluent consumers, in the past few years. However, the market’s development is hindered to a certain extent owing to the high cost of products and rising use of refurbished equipment.
Demand for Environment-friendly Refrigerators and Freezers Gathers Strength
Emission of harmful greenhouse gases is a major concern with conventional refrigerators and freezing equipment. As the concerns and awareness regarding the harmful effects of these emissions to the health of the planet rise globally, the demand for greener equipment is gathering strength. In the next few years, most of the new product designs entering the global biomedical refrigerators and freezers will be greener. The switchover will be expedited by strict government regulations regarding emission control and initiatives from product manufacturers toward innovation.
Plasma Freezers and Blood Banks to Emerge as High-impact Driver
In terms of product types, the segment of plasma freezers presently dominates the global biomedical refrigerators and freezers market. The segment accounted for a share of over 28% in the global market in 2015 and is expected to retain dominance over the forecasting horizon as well, majorly owing to the rising demand for storage of fresh frozen plasma. In terms of application, the market is expected to see the highest revenue flowing in from the blood bank industry in the next few years. The market for biomedical refrigerators and freezers is expected to expand at the fastest rate in Asia Pacific through 2024, although North America will continue to account for a larger share in the market in terms of revenue contribution.
The global market for biomedical refrigerators and freezers held an opportunity of US$2.91 bn in 2015. The market is expected to expand at a 4.21% CAGR over the period between 2016 and 2024, and rise to a valuation of US$4.28 bn by 2024.
This review of the market is based on a recent market research report by Transparency Market Research, titled “Biomedical Refrigerators and Freezers Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”
Get accurate market forecast and analysis on the Biomedical Refrigerators and Freezers Market. Request a sample to stay abreast on the key trends impacting this market.
For the purpose of this study, the global biomedical refrigerators and freezers market is segmented as follows:
Global Biomedical Refrigerators and Freezers Market, by Product Type
Ultra Low Temperature (ULT) Freezers
Blood Bank Refrigerators
Laboratory / Pharmacy / Medical Refrigerators
Laboratory / Pharmacy / Medical Freezers
Global Biomedical Refrigerators and Freezers Market, by End-user
Global Biomedical Refrigerators and Freezers Market, by Geography
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & North Africa
Rest of Middle East & North Africa
Rest of the World
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
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The rising prevalence of a number of chronic and infectious diseases, increasing global demand for personalized drugs, and the promising pace of technological developments across healthcare infrastructures in emerging economies are cumulatively driving the increased adoption of biomedical refrigerators and freezers globally. The steady rise in the number of blood banks in developing and developed regions combined with government initiatives aimed at raising awareness about blood donation have also favored