Biomedical Refrigerators and Freezers Market Size Expected to Garner USD 6,280 Million by 2030 growing at 5% CAGR - Exclusive Report by Acumen Research and Consulting
The Global Biomedical Refrigerators and Freezers Market Size is predicted to grow at a CAGR of 5% between 2022 and 2030, from USD 4,125 Million in 2021 to USD 6,280 Million by 2030, as per the Acumen Research and Consulting
The biomedical refrigerators and freezers market has experienced significant growth over the years due to the increasing demand for pharmaceuticals, vaccines, and biologicals. The increasing number of clinical trials, research and development activities, and biotechnology companies has also driven the demand for biomedical refrigerators and freezers. The market is witnessing an increased demand for high-end and advanced refrigeration systems that can meet the stringent storage requirements of pharmaceutical and biological products. The increasing focus on safety and compliance with international regulations is also driving the market expansion.
The growing demand for eco-friendly and energy-efficient refrigeration systems is also a major trend in the market. Biomedical refrigerators and freezers are designed to meet the stringent requirements of temperature control and energy efficiency. The increasing demand for energy-efficient refrigeration systems has led to the development of innovative technologies, such as digital controls, alarms, and real-time temperature monitoring systems that help reduce energy consumption.
Biomedical Refrigerators and Freezers Market Statistics
- Global biomedical refrigerators and freezers market value collected USD 4,125 Million in 2021, with a 5% CAGR between 2022 and 2030
- North America biomedical refrigerators and freezers market revenue gathered more than USD 1,691 Million in 2021
- Biomedical refrigerators and freezers typically have temperature ranges from 2°C to 8°C for refrigerators and -20°C to -86°C for freezers
- By end-use, the blood bank sector capture over 36% of total market share in 2021
- Increasing demand for pharmaceuticals, vaccines, and biologicals, fuels the biomedical refrigerators and freezers market size
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Biomedical Refrigerators and Freezers Market Trends
The biomedical refrigerators and freezers market is undergoing rapid evolution as the demand for safe and efficient storage of medical and biological samples increases. With advancements in technology and the increasing need for better storage solutions, the market is expected to grow in the coming years. The use of energy-efficient refrigeration systems and the integration of smart features, such as remote monitoring and real-time temperature tracking, are some of the key trends driving the biomedical refrigerators and freezers market growth.
Moreover, the growing focus on research and development in the life sciences industry has also contributed to the market growth. Biomedical refrigerators and freezers are crucial in the storage of vaccines, blood products, and other biological samples, making them an essential component in the healthcare industry. The increasing demand for vaccines and other biological products is driving the market size, as these products require safe and reliable storage solutions.
The COVID-19 pandemic has further accelerated the expansion of the market, as the demand for vaccine storage solutions has increased significantly. The pandemic has highlighted the need for efficient and reliable storage solutions for vaccines, leading to increased investments in the development of biomedical refrigerators and freezers. In addition, the increasing demand for remote monitoring and real-time temperature tracking systems is driving the development of the market, as these features enable healthcare facilities to monitor their storage solutions and ensure the safety of their biological samples.
Biomedical Refrigerators and Freezers Market Segmentation
Acumen Research and Consulting has segmented the global biomedical refrigerators and freezers market by product, end-use, as well as region.
- By product, the industry is classified into blood bank refrigerators, lab freezers, plasma freezers, shock freezers, lab refrigerators, and ultra-low temperature freezers.
- By end-use, the market is categorized into the hospitals, blood banks, diagnostic centers, research labs, and pharmacies.
- By region, the market is segmented into Latin America, Asia-Pacific, North America, Europe, and the MEA.
Biomedical Refrigerators and Freezers Market Regional Overview
In terms of region, North America is leading the biomedical refrigerators and freezers market. This growth is due to the presence of a large number of pharmaceutical companies, biotechnology companies, and research and development centers. The region is also home to a large number of clinical trials and research and development activities, which are driving the demand for biomedical refrigerators and freezers. The increasing number of clinical trials, research and development activities, and biotechnology companies has also driven the demand for high-end and advanced refrigeration systems that can meet the stringent storage requirements of pharmaceutical and biological products.
The North American region is also characterized by the presence of a large number of leading players in the biomedical refrigerators and freezers market, such as Thermo Fisher Scientific, Haier Biomedical, and Eppendorf AG. These players are actively involved in the development and commercialization of advanced biomedical refrigerators and freezers. The region is also witnessing a growing demand for eco-friendly and energy-efficient refrigeration systems, which is driving the regional market expansion. The increasing focus on safety and compliance with international regulations is also expected to drive the North American regional biomedical refrigerators and freezers market share.
Biomedical Refrigerators and Freezers Market Players
Some of the major biomedical refrigerators and freezers market companies are Aegis Scientific, Azbil Corporation, Follett, Panasonic Healthcare Corporation, Binder, Helmer Scientific, Eppendorf, Haier Biomedical, B Medical Systems, Migali Scientific, Thermo Fisher Scientific, Powers Scientific, Liebherr-International, and Arctiko.
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