Biomedical refrigerators and freezers are medical equipment, used for storing various biological samples such as biological reagents, blood, blood derivatives, medicines, vaccines, deoxyribonucleic acid (DNA), ribonucleic acid (RNA), and flammable chemicals. Samples with biological origin require precise conditions for effective storage. In comparison with domestic refrigerators and freezers, biomedical refrigerators and freezers provide optimum conditions for efficient storage of samples with biological origin. Biomedical refrigerators and freezers are widely used in blood banks, hospitals, diagnostic centers, research laboratories, educational institutes, etc. Based on temperature range, commercially available biomedical refrigerators and freezers offer different applications. For example, ultra-low temperature freezers with temperature range between -70 to -80 and low are used for prolonged storage of biomedical samples such as DNA and RNA. Plasma freezers offer temperature range between -30°C to -40°C and hence, are preferred for the storage of plasma products, whole blood and vaccines. Blood bank refrigerators are suited for the storage of whole blood or blood component products. However, the blood bank refrigerators segment contributes the largest market share for the global biomedical refrigerators and freezers market. The blood bank refrigerators segment is mainly driven by steady rise in the number of blood banks in developing and developed regions and the presence of stringent regulatory requirements. On the other hand, laboratory, medical freezers and pharmacy segments are expected to grow with fastest CAGR during the forecast period.
The global biomedical refrigerator and freezer market is expected to grow at a single digit CAGR during the forecast period (2015-2025).
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Global Biomedical Refrigerators and Freezers Market: Drivers and Restraints
Factors driving the global biomedical refrigerators and freezers market, are increasing demand for blood transfusions, custom-made medicines and vaccines, and cellular therapies. In addition, rising research and development activities in the field of medical science are driving the acceptance of biomedical refrigerators and freezers in research and educational institutes. Also, with increased funding from various sources and R&D activities in the pharmaceutical sector up-surged the use of biomedical refrigerators and freezers.
Factors restraining the global refrigerator and freezers market includes, presence of large number of local players offering cheaper products than branded products, and rising trend of using refurbished equipment worldwide due to its cheaper price.
Global Biomedical Refrigerators and Freezers Market: Segmentation
Global biomedical refrigerators and freezers market can be segmented on the basis of its type, end users and geography.
- By Type: Blood Bank Refrigerators Laboratory Refrigerators Plasma Freezers Ultra Low Freezers Laboratory Freezers Shock Freezers Cryogenic Storage Systems
- By End Users: Hospitals Pharmacies Diagnostic Centers Research Laboratories Blood Banks Others
Global Biomedical Refrigerators and Freezers Market: Overview
With rapid technological advancement and with augmentation of various technological and infrastructural up gradation of clinics, hospitals and research laboratories, the global biomedical refrigerators and freezers is expected to have a substantial growth in the forecast period (2015-2025).
Global Biomedical Refrigerators and Freezers Market: Region – wise Outlook
North America accounts for the largest share of the global biomedical refrigerators and freezers market, and is expected to dominate the market in the forecast period. Factors contributing to the growth of global biomedical refrigeration and freezers market in North America are presence of large number of healthcare facilities and the rising demand for these equipment’s. However, Asia-Pacific is expected to be the fastest growing region for the biomedical refrigerators and freezers market. This growth is attributed to the rising number of blood banks, increasing number of healthcare facilities, rising initiatives of blood donation programs and presence of market growth oriented regulatory policies. Increasing tourism in emerging countries further promotes healthcare spending into biomedical refrigerators and freezers market.
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Global Biomedical Refrigerators and Freezers Market: Key Players
Key players in global biomedical refrigerators and freezers market are, Aegis Scientific, Inc., ARCTIKO A/S, ThermoFisher Scientific, Inc., Binder GmbH, BioMedical Solutions, Inc., Bionics Scientific Technologies (P) Ltd., Coldway, DESMON S.p.A, Eppendorf AG, Froilabo SAS, Panasonic Healthcare Co., Ltd., Philipp Kirsch GmbH, LabRepCo, Inc., Gram Commercial A/S, and Venktron Electronics Co. Ltd.