Biomedical Refrigerators and Freezers Market Inclined to Deliver Positive Growth Results until 2022

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Growing need to store biomedical samples has led to surge in demand for the biomedical refrigerators and freezers globally. Prevalence of various diseases will continue to rev up demand for vaccines and other biomedical products. In addition, adoption of biomedical refrigerators and freezers will continue to increasing attributed to growing investment in research and development by educational and research institutions. As need for exact and accurate storage conditions arise, healthcare organizations prefer storing various biomedical products in the biomedical refrigerators and freezers. Growing need for personalized vaccines stemming from increasing demand to conduct cellular therapy will further continue to impact growth of the global market.

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According to FactMR, the global Biomedical Refrigerators and Freezers Market is expected to represent a value of over US$ 4,000 Mn by the end of 2022.

Vaccine Management to Impact Global Market Growth

Exposure of the vaccines beyond the recommended temperature range can reduce its effectiveness during administration. Demand for vaccines is expected to increase attributed to prevalence of various diseases globally. Vaccines need to be stored in the recommended temperature in order to deliver effective administration. Growing need to store vaccines in accurate and exact storage conditions for effective administration will continue to rev up adoption of the biomedical refrigerators and freezers in the healthcare industry. Production of custom-made vaccines, medicines and blood transfusions attributed to growth of cellular therapy is further expected to contribute towards growth of the global biomedical refrigerators and freezers market during the forecast period. As the need for vaccine management arises, demand for the biomedical refrigerators is expected to remain high in the global market during the forecast period. Such factors are expected to contribute towards growth of the global biomedical refrigerators and freezers market during the forecast period.

Investment in Research and Development to Fuel Demand

Increasing investment in research and development activities will continue to bolster demand for the biomedical refrigerators and freezers in the healthcare industry. As researchers are increasingly focusing on developing innovative techniques and products for treatment procedure, adoption for the biomedical refrigerators and freezers is expected to rev up in the global market during the forecast period.  Demand for biomedical refrigerators and freezers is further expected to witness significant demand in the educational and research institutes. Bound to these factors, the global refrigerators and freezers market is expected to witness significant growth during the forecast period.

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Plasma Freezer Products to Represent a Leading Segment

Growing need to store blood plasma is expected to rev up demand for plasma freezers in the global market. On the basis of product type, the plasma freezers segment is expected to witness the highest revenue growth, accounting for a value of over US$ 400 Mn by the end of 2022. On the other hand, the cryogenic storage systems product type segment is expected to register a robust CAGR during the forecast period.

Based on end user, the hospitals segment is expected to generate significant revenues, recording a value of over US$ 300 Mn by the end of 2017. However, the research laboratories end user segment is expected to register a significant CAGR through 2022.

Competition Tracking

Leading market players operating in the global biomedical refrigerators and freezers market include Aegis Scientific, Inc., Arctiko A/S, Binder GmbH, Biomedical Solutions Inc., Bionics Scientific Technologies Co., Ltd., Coldway SA, Desmon S.p.A, Eppendorf AG, Froilabo SAS, Gram Commercial SAS, Helmer Inc., LabRepco Inc., Liebherr International AG, Panasonic Healthcare Co., Ltd., Philips Kirsch GmbH, Terumo Corporation and Thermofisher Scientific Inc.

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