Biomedical Refrigerators and Freezers Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Biomedical Refrigerators and Freezers Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : March, 2020 | Medical Devices | PPT format

Report Digest


Global Biomedical Refrigerators and Freezers Market: Snapshot

Biomedical refrigerators and freezers are utilized as a part of medicine and biotechnology. These type of systems are uncommonly intended for effective capacity of solidified or fresh blood tests, chemicals utilized as a part of research, RNA, DNA, and different life-sparing vaccines. A few research labs, blood donation centers, diagnostic centers, educational institutes, clinics, and hospitals use these freezers and refrigerators that give ideal storage conditions.

The expanding number of blood donation centers on a worldwide scale is probably going to help the development of the worldwide biomedical refrigerators and freezers market. The requirement for enhanced storage limits has emerged as more blood donations are done every year. As indicated by a report in July 2016 by the World Health Organization (WHO), more than 112.5 million blood donations were gathered globally.

The developing demand for environment-friendly and greener hardware worldwide has been one of the significant patterns that is probably going to contribute towards the extension of the market. The rising worries about emissions of greenhouse gases, mounting level of pollution, and the subsequent dangers postured to human wellbeing have prompted the improvement of new and eco-friendly freezers and refrigerators. A large chunk of players operating in the biomedical refrigerators and freezers market are appearing to raise gains through mergers and acquisitions, partnerships, and strategic collaborations. These steps are being taken up by companies to gain a strong and leading position in the market in the years to come. 

Biomedical refrigerators and freezers are used in biotechnology and medicine. These systems are specially designed for efficient storage of frozen or fresh blood samples, enzymes used in research, DNA, RNA, and various life-saving vaccines. Several research laboratories, blood banks, hospitals, clinics, educational institutes, and diagnostic centers deploy these refrigerators and freezers that provide optimum storage conditions. 

The increasing number of blood banks on a global scale is likely to aid the expansion of the global biomedical refrigerators and freezers market. The need for greater storage capacities has arisen as more blood donations are received each year. According to a fact sheet updated in July 2016 by the World Health Organization (WHO), more than 112.5 million blood donations were collected globally. 

Global Biomedical Refrigerators and Freezers Market: Key Trends 

Increasing research and development activities across several sectors such as healthcare have been propelling the growth of the biomedical refrigerators and freezers market. The rising demand for personalized medicine, organ transplants, blood transfusions, vaccines, and cellular therapies have led to a greater demand for biomedical refrigerators and freezers. On the contrary, the highly competitive nature of the market wherein several local players are offering products at competitive prices, along with the rising adoption of refurbished equipment, might slacken the growth of the market.  

Growing demand for eco-friendly, greener equipment across the globe has been one of the major trends that is likely to contribute towards market expansion. The rising concerns about greenhouse emissions, increasing pollution levels, and the consequent hazards posed to human health have led to the development of new, environment-friendly refrigerators and freezers. 

Global Biomedical Refrigerators and Freezers Market: Market Potential 

A number of market players appear to be intent on pocketing more profits through acquisitions and mergers. Strategic collaborations and partnerships have also been adopted by several companies with a view to gain a strong foothold in the global market for biomedical refrigerators and freezers. 

In October 2016, Standex International Corporation acquired Horizon Scientific, Inc., a South Carolina-based company that supplies refrigerators and freezers to pharmaceutical and biomedical entities. The acquisition will enable greater penetration of Standex into the scientific sector, bringing in significant profits. Horizon Scientific, Inc. in turn will benefit from faster growth prospects through the expansion of its manufacturing and engineering capacities. 

Product development has also been a major concern among the leading market players. For instance, Thermo Fisher Scientific offers diverse refrigerators and freezers for pharmaceutical industry, research in chromatography, laboratory purposes, and blood bank storages among several other uses, designed as per the requirements of that particular sector. Explosion-proof refrigerators and freezers for flammable materials are also engineered by this firm.

Global Biomedical Refrigerators and Freezers Market: Regional Outlook 

Based on geography, the global biomedical refrigerators and freezers market can be segmented into Asia Pacific, Latin America, the Middle East and Africa, Europe, and North America. North America appears to be the leading regional segment, with the U.S. being the major contributor. The growth of this regional biomedical refrigerators and freezers market can be attributed to the upsurge in the incidence of infectious and chronic diseases, coupled with beneficial government policies. Latin America has been witnessing rising demand for biomedical refrigerators and freezers owing to a substantial increase in the number of plasma freezer installations and blood bank refrigerators in the research domain. Asia Pacific is also slated for considerable growth. 

Global Biomedical Refrigerators and Freezers Market: Competitive Analysis 

The global market for biomedical refrigerators and freezers appears to be consolidated in terms of competition, as a handful of market players cater to the rising demand for these products. 

Some of the major companies operating in the global biomedical refrigerators and freezers market are Panasonic Healthcare, Aegis Scientific, Thermo Fisher Scientific, Eppendorf, Helmer Scientific, Leibherr Group, Terumo Corporation, Philipp Kirsch, and Haier Biomedical.

In 2015, Panasonic Healthcare Co., Ltd., Thermo-Fisher Scientific, Inc., and Eppendorf AG emerged at the fore, accounting for a major portion of the share.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.

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