Biomedical Refrigerators and Freezers Market to rise to a valuation of US$4.28 bn by 2024

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.

Rise in Research Activities and High Demand for Blood Transfusion and Personalized Medicines to Stimulate Market’s Growth

ViewFull Report: http://www.transparencymarketresearch.com/biomedical-refrigerators-freezers-market.html

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.

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.

Request to view Sample Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=4666

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.

Download Brochure link: http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=4666

The global biomedical refrigerators and freezers market has a handful of regional players and only a few international companies, reports Transparency Market Research (TMR) in a recent report. Though regional players command power in their respective countries, giving stiff competition to global ventures with their economical offerings, the market witnessed the dominance of three international companies in 2015 - Thermo-Fisher Scientific, Inc., Panasonic Healthcare Co., Ltd., and Eppendorf AG. Collectively, these international giants accounted for nearly 60% in the global market.

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.

Global Biomedical Refrigerators and Freezers Market Report is available @ US$ 5795

About Us:
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.

Contact us:
Transparency Market Research
90 State Street,
Suite 700,
Albany
NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com/

This release was published on openPR.