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A recent report published by Infinium Global Research on biomedical refrigerators and freezers market provides in-depth analysis of segments and sub-segments in global as well as regional biomedical refrigerators and freezers market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional biomedical refrigerators and freezers market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global biomedical refrigerators and freezers market. According to the report, the global biomedical refrigerators and freezers market is projected to grow at a CAGR of 4.2% over the forecast period of 2018-2024.
Biomedical refrigerators are
widely used in blood banks, hospitals diagnostic centers, research analysis,
and educational institutes. They are widely used for storing various biological
samples such as blood, blood derivatives, vaccines, and flammable chemicals.
Moreover, based on temperature range, commercially available biomedical
refrigerators and freezers offer different applications.
Increasing demand for blood
transfusion, cellular therapies, and custom-made medicines are the factors
driving the growth of the biomedical refrigerators and freezers market.
Additionally, a steady rise in the number of blood banks in the developed and
developing regions coupled with government initiatives in order to raise awareness
about the donation of blood has favored a bearable growth in the biomedical
refrigerators and freezers market. On the other hand, need to provide thermal
insulation and avoid product degradation of refrigerators is anticipated to
boost the market over the years to come. However, the presence of a large number of
local players offering cheaper products than branded products is anticipated to
hinder the growth of the biomedical refrigerators market over the forecast
period.
Furthermore, awareness about the
harms of greenhouse gases emitted from conventional refrigeration systems and
strict emissions norms to the environment will force product manufacturers to
design greener products. This, in turn, is anticipated to have a positive impact on the growth of the biomedical refrigerators and freezers market. Moreover,
advances in regenerative medicines, drug discovery and bio-banking techniques
coupled with research activities in the field of biomedical science is expected
to provide various growth opportunities for the key players in the global
biomedical refrigerators and freezers market over the upcoming years.
Among the geographies, North
America accounted for the largest share in the global biomedical refrigerators
and freezers market followed by Asia-Pacific regions. Additionally, the growth
of North American regional market can be attributed to the development of biobanks and genome engineering. However, increasing geriatric population towards
the technological developments in healthcare is anticipated to lead vast
growth opportunities for the biomedical refrigerators and freezers market in
the Asia-Pacific regions over the years to come. On the other hand, the U.S. is the
most important sector and has captured the majority of the market share in the
North American regions. Moreover, high economic development in countries
such as India and China are boosting their expenditure in the healthcare
infrastructure and medical services.
Some of the prominent players in
the global biomedical refrigerator and freezers market are Aegis Scientific,
Eppendorf, Haier Biomedical, Philipp Kirsch, Helmer Scientific, Liebherr Group
and Panasonic Healthcare. Moreover, owing to the presence of several large and
small manufacturers the market share is highly uneven. However, increased government
research and development funding in the pharmaceutical sector and expansion of
research facilities are rising the rate of adoption of the biomedical
refrigerators and freezers market size. According to the Europe medical device the directive, legislation has been passed in order to design, manufacture, and
test biomedical refrigerators and freezers with essential safety and
performance.
The report on global biomedical refrigerators and freezers the market covers segments such as product type and end user. Based on product
type the global biomedical refrigerators and freezers market is categorized
into blood bank refrigerators, shock freezers, ultra-low temperature freezers,
plasma freezers and laboratory/pharmacy/medical refrigerators. Based on
end user the global biomedical refrigerators and freezers market is categorized
into blood banks, diagnostic centers, research laboratories, pharmacies and
hospitals.
The countries covered in the North America region include the
U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India,
South Korea, Malaysia, and among others. Moreover, Germany, U.K., France,
Spain and rest of Europe are included in the European region. The U.S. drives
the growth in the North America region, as it is the largest market in the
region. The Asia-Pacific region offers a substantial potential for the market
growth owing to rapid growth in markets such as India and China. The APAC
region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global biomedical refrigerators and freezers market such as Helmer Scientific, Thermo Fisher Scientific, Inc, Panasonic Healthcare Co., Ltd., Philipp Kirsch GmbH, Terumo Corporation, Liebherr Group, Aegis Scientific, Inc, Eppendorf AG, and Haier Biomedical.
The report provides deep insights on demand forecasts, market
trends, and micro and macro indicators. In addition, this report provides
insights on the factors that are driving and restraining the global biomedical
refrigerators and freezers market. Moreover, IGR-Growth Matrix analysis given
in the report brings an insight into the investment areas that existing or new
market players can consider. The report provides insights into the market using
analytical tools such as Porter's five forces analysis and DRO analysis of
biomedical refrigerators and freezers market. Moreover, the study highlights
current market trends and provides forecast from 2018-2024. We also have
highlighted future trends in the biomedical refrigerators and freezers market
that will impact the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players. This report will help manufacturers,
suppliers, and distributors of the biomedical refrigerators and freezers market
to understand the present and future trends in this market and formulate their
strategies accordingly.
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