According to a new market report published by Transparency Market Research titled “Biomedical Refrigerators and Freezers Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027,” the global biomedical refrigerator and freezer market is expected to reach a value of US$ 7122.4 Mn by 2027. In terms of value, the market is estimated to expand at a CAGR of 4.5% during the forecast period from 2019 to 2027. North America is accounted for the major sales of biomedical refrigerators in 2018 and expected to maintain its dominance in coming years.
Major Key Players of the Biomedical Refrigerators and Freezers Market are:
Aegis Scientific, Inc., Eppendorf AG, Haier Biomedical, Liebherr Group, Panasonic Healthcare Co., Thermo Fisher Scientific, Inc., Terumo Corporation, Philipp Kirsch GmbH, and Helmer Scientific.
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Biomedical refrigerators and freezers are medical devices that are specifically used to store medical samples such as medicines, vaccines, flammable chemicals, enzymes, blood, and blood products. Biomedical refrigerators and freezers are used in hospitals, research laboratories, diagnostic centers, pharmacies, and blood banks etc. Unlike domestic refrigerators and freezers, biomedical refrigerators and freezers provide optimum conditions for storage of medical products. Based on the application in different fields, biomedical refrigerators and freezers are of different types. For example, ultra-low temperature (ULT) freezers are insulated cabinets that maintain temperatures ranging from -70 degree C to -80 degree C. These freezers are primarily used in research laboratories and biomedical engineering facilities. Furthermore, blood bank refrigerators are medical equipment primarily used in blood banks. They maintain temperatures that range between +1 degree C to +6 degree C. Transparency Market Research analyses the global biomedical refrigerators and freezers market in terms of value in US Mn.
The biomedical refrigerator and freezer market is segmented as below.
By Product Type
- Ultra-Low Freezers
- Plasma Freezers
- Shock Freezers
- Blood Bank Refrigerators
- Laboratory/Pharmacy/Medical Refrigerators
- Laboratory/Pharmacy/Medical Freezers
By End-user
- Hospitals
- Research Laboratories
- Pharmacies
- Diagnostic Centers
- Blood Banks
- Others
One of the main challenging factors impacting the growth of the biomedical refrigerator and freezer market is the fact that it is a highly fragmented and intensely competitive market. The amount of equipment purchased by end-users is expected to range from medium to low due to long lifespan of the equipment. Moreover, increase in the number of local competitors is expected to reduce the cost of equipment, which is expected to challenge the expectations of market players. Furthermore, increase in use of refurbished equipment is expected to hamper the growth of the biomedical refrigerator and freezer market globally. According to U.S. Food and Drug Administration (FDA), various medical experts have expressed concerns about the safety, quality, and effectiveness of refurbished medical devices.
Research objectives:-
– To study and analyze the global Biomedical Refrigerators and Freezers consumption (value & volume) by key regions/countries, product type and application, history data.
– To understand the structure of the Biomedical Refrigerators and Freezers market by identifying its various sub-segments.
– Focuses on the key global Biomedical Refrigerators and Freezers manufacturers, to define, describe and analyze the sales volume, value, market share, market competitive landscape, SWOT analysis, and development plans in the next few years.
– To analyze the Biomedical Refrigerators and Freezers with respect to individual growth trends, future prospects, and their contribution to the total market.
– To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
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