Biomedical Refrigerators And Freezers Market Projected To Raise At USD 6.29 Billion By 2030


 San Francisco, 8 Oct 2024: The Report Biomedical Refrigerators And Freezers Market Size, Share & Trends Analysis Report By Product (Blood Bank Refrigerators, Shock Freezers, Plasma Freezers, Ultra Low Temperature Freezers), By End Use, By Region, And Segment Forecasts, 2024 - 2030

The global biomedical refrigerators and freezers market size to reach  USD 6.29 billion in 2030 and is projected to grow at a CAGR of 6.4% from 2024 to 2030. The rising geriatric population worldwide and the prevalence of chronic diseases such as cardiovascular disease, diabetes, and cancer are major drivers contributing to the market’s growth. In addition, these medical facilities are used to avoid product degradation, provide thermal insulation and store biological, which has increased their usage, leading to the market’s growth.

The advancement of science and technology has increased the R&D activities in the medical goods industry, which has helped promote medication discovery and creation. In addition, the growing demand for biopharmaceuticals and organ transplantation has boosted the biomedical refrigerators and freezers market to grow positively in the forecast period. For instance- in January 2024, according to a report published in the Organ Procurement & Transplantation Network, a total of 46,632 organ transplants were performed in the year 2023.

The increasing prevalence of chronic disease worldwide has a major impact on how the biomedical refrigerators and freezers market has been growing. According to World Health Organization (WHO) data, about 17 million people die from chronic disease before the age of 70. Cardiovascular disease accounts for most chronic disease deaths, followed by 9.3 million deaths by cancer, 4.1 million by chronic respiratory diseases, and about 2 million by diabetes and kidney diseases caused by diabetes. These biomedical refrigerators and freezers are essential for storing vaccines, blood, and blood components used in the treatment of various chronic illnesses such as cancer, cardiac diseases, and infectious diseases. This has led to their high usage rate, driving the market to grow in the forecast period.

Access Research Report of Biomedical Refrigerators And Freezers Market @ https://www.grandviewresearch.com/industry-analysis/biomedical-refrigerators-and-freezers-market

Ongoing improvements in biopharmaceuticals, personalized medicine, and gene treatments are expected to increase the demand for precise and specialized storage conditions provided by biomedical refrigerators and freezers. Advances in life science and pharmaceutical research increases the demand for ultra-low temperature freezers which require dependable, accurate, and secure preservation equipment. This is expected to drive market growth and support the development of new treatments for chronic diseases. For instance- in February 2023, Panasonic Healthcare Corporation launched the PHCbi Brand VIP ECO SMART Ultra-Low Temperature Freezer without compromising preservation capability and helps in minimizing power consumption.

Various government initiatives and support from government to provide technical and financial assistance in the improvement of healthcare infrastructure, treatment of several chronic diseases and procurement of biomedical refrigerators and freezers is a positive trend witnessed in the market. For instance, in 2019, the World Health Assembly extended the WHO Global Action Plan for the control and prevention of NCDs in 2013 to 2020 and further extending it to 2030, thereby contributing towards the achievement SDG goal 3.4.

Recent Developments

  • In February 2024, Helmer Scientific GX Solutions ultra-low temperature freezers were certified ENERGY STAR certification by the U.S. Environmental Protection Agency (EPA) for the category High-Performance Laboratory Grade Freezer).
  • In October 2023, Haier Biomedical announced the introduction of the efficient TwinCool Frequency Conversion ULT Freezers, which are designed for clinical research, pharmaceutical, and public health laboratories to help keep samples safe and secure with minimal environmental impact.
  • In January 2022, B Medical Systems inaugurated its new Indian manufacturing facility in Mundra, Gujarat, to cater to the demands for biomedical refrigerators and freezers in the country.

Key Biomedical Refrigerators And Freezers Company Insights:

Some of the key companies in the biomedical refrigerators and freezers market include Panasonic Healthcare Corporation,Haier Biomedical, Eppendorf AG, Power Scientific, Inc., Aegis Scientific, Inc. These companies are growing their market revenue by launching new products, collaborations and adopting various other strategies.

  • Panasonic Healthcare Corporation is a manufacturer of biomedical refrigerators and freezers designed for specific vaccine and biological storage applications. It has made various innovations in temperature control, energy efficiency, and specialized features for critical sample storage. Their products are widely used in clinics, hospitals, pharmacies, and laboratories for preserving vaccines, biologicals, and other temperature-sensitive materials. Thereby increasing their market revenue share.
  • Haier Biomedical manufactures specialized biomedical refrigerators and freezers designed to store vaccines, biologicals, and other temperature-sensitive materials. Various products include microprocessor-based controllers with digital displays for accurate temperature monitoring and setting. Their products are widely used in clinics, hospitals, pharmacies, and research laboratories around the world.

Key Biomedical Refrigerators And Freezers Companies:

The following are the leading companies in the biomedical refrigerators and freezers market. These companies collectively hold the largest market share and dictate industry trends.

  • Panasonic Healthcare Corporation
  • Haier Biomedical
  • Eppendorf AG
  • Power Scientific, Inc.
  • Aegis Scientific, Inc.
  • Follett LLC
  • Helmer Scientific
  • Thermo Fisher Scientific
  • Azbil Corporation

About Grand View Research

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.

For More Information: https://www.grandviewresearch.com/horizon

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