Growing prevalence of various diseases is projected to boost demand for vaccines in the healthcare institutions globally. In addition, increasing advancements in biobanking techniques is projected to impact the global market growth positively. Fact.MR states that the global market of biomedical refrigerators and freezers is projected to reflect a CAGR of 5.7% over the forecast period, 2017-2026.
Factors Fuelling the Global Market Growth
Growth of the global biomedical refrigerators and freezers market is mainly bound to various macro-economic and micro-economic factors. Prevalence of various disorders is projected to boost demand for vaccines in various healthcare institutions. Treatment of various diseases will also continue to boost demand for blood and derivatives of blood. Biomedical freezers and refrigerators is projected to witness significant demand in the research laboratories, blood banks, educational institutions, hospitals and diagnostic centers. Surge in demand for storage of biomedical samples will continue to fuel adoption of biomedical refrigerator and freezers globally.
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Vaccination management is becoming a major concern in various healthcare and research institutions. Growing need for storing biomedical samples at exact and accurate temperature will further fuel adoption of biomedical freezers and refrigerators globally. Moreover, growth of the cell therapy has significantly revved up production of medicines, custom-made vaccine products and blood transfusion. Increasing demand for storage of the biomedical samples and products attributed to growing need for cell therapy is further projected to boost demand for biomedical freezers and refrigerators. These factors will continue to impact growth of the global market of biomedical refrigerators and freezers throughout the forecast period.
In addition, demand for biomedical freezers and refrigerators will further continue to increase due to growing investment in the research and development. Researchers are significantly focusing on development of various innovative treatment procedures and medical products for the treatment of various diseases. Development of innovative techniques and products has led to increasing demand for various biomedical samples globally. Educational institutions are also increasingly investing in research and development in collaboration with various healthcare institutions. Growing investment in research and development by various healthcare and educational institutions is projected to contribute towards the global market growth of biomedical refrigerators and freezers throughout the forecast period.
Growing developments in the biobanking technology has transformed various aspects of science including biospecimen science and biorepository. With the growing advancements in biobanking, adoption of automated technology and robotic processing and handling process of the samples is projected to make the process of biobanking more effective. Moreover, development of various software applications that helps in storage management of blood and other biomedical samples is further projected to impact the global market growth of biomedical refrigerators and freezers positively.
Sales to Remain High Through Hospitals
As the requirement for storing blood and blood derivatives arise, demand for the plazma freezers is projected to increase globally. In terms of revenue, the plazma freezers product type segment is projected to represent the highest growth, representing more than US$ 400 Mn by 2022-end. In contrary, the cryogenic storage systems product type segment is projected to reflect a significant CAGR throughout the forecast period.
By 2022-end, the hospitals end user segment is projected to represent a robust revenue growth, accounting for more than US$ 300 Mn by 2017-end. On the other hand, the research laboratories end user segment is projected to reflect a healthy CAGR over the forecast period.
Major players in the global market of biomedical refrigerators and freezers are Arctiko A/S, Aegis Scientific, Inc., Biomedical Solutions Inc., Binder GmbH, Coldway SA, Bionics Scientific Technologies Co., Ltd., Eppendorf AG, DesmonS.p.A, Gram Commercial SAS, Froilabo SAS, Liebherr International AG, LabRepco Inc., Philips Kirsch GmbH, Panasonic Healthcare Co., Ltd., Thermofisher Scientific Inc. and Terumo Corporation.