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Biomedical Refrigerators Market – Growth, Trends, and Forecasts (2017–2025)

Press Release   •   Aug 23, 2017 01:15 EDT

Biomedical Refrigerators Market Overview:

Biomedical refrigerators are medical equipment that are used for storing various biological samples such as biological reagents, medicines, vaccines, blood, blood derivatives, deoxyribonucleic acid (DNA), ribonucleic acid (RNA), and flammable chemicals. Samples with biological origin require accurate conditions for effective storage. As compared to domestic refrigerators, biomedical refrigerators provide most favorable conditions for efficient storage of samples with biological origin. These refrigerators are widely used in blood banks, research laboratories, hospitals, educational institutes, and diagnostic centers. This refrigerators need to be totally hygienic and completely reliable and need to maintain a consistent temperature in order to reduce the risk of bacterial contamination and explosions of unstable materials. To attain a high degree of accuracy the refrigerator needs air to circulate and a fan to maintain constant temperature at all times. The fan turns off when the door is open to prevent cold air from blowing out of the unit. Biomedical refrigerators feature distinct compartments as to prevent cross contamination and can hold specific medical supplies, such as blood or vaccines.

Escalating demand for cellular therapies, blood transfusions, organ transplant, and biopharmaceuticals is stimulating growth of the biomedical refrigerators market. In addition, increasing biomedical R&D activities all over the world are boosting demand for biomedical refrigerators. However, presence of large number of local players and increasing use of renewed equipment are some of the factors hampering the growth of the global biomedical refrigerators market. With rapid technological advancement and with expansion of various technological and infrastructural upgrade of clinics, hospitals and research laboratories, the global biomedical refrigerators market is expected to have a substantial growth in the forecast period.

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Biomedical Refrigerators Market

On the basis of product type, the global market are classified into:

  • Blood Bank Refrigerators
  • Laboratory Refrigerators

On the basis of end user, the global market are classified into:

  • Hospitals
  • Pharmacies
  • Diagnostic Centers
  • Research Laboratories
  • Blood Banks

Factors like the increasing importance on energy efficient refrigerators driving the prospects for market growth until the end of the forecast period. The environmental challenge for biomedical refrigerator manufacturers has always been to reduce energy consumption. According to the current standards, refrigerants used have minimum global warming potential, an ozone depleting potential of zero, and be nontoxic as well as inflammable. It is highly challenging to meet all these desires while maintaining a stable temperature control. Therefore, manufacturers are focusing on developing technologies to maximize efficiency and temperature consistency while minimizing heat and energy consumption. Improvement of healthcare infrastructure due to the increasing support from government and industry participants to provide technical and financial assistance in procurement of biomedical refrigerators is a positive trend witnessed in the market.

North America held the maximum share, mainly attributed to presence of stringent procedures in the U.S., high quality standards, and high expenses on hospital and healthcare infrastructure is a key factor for the regions dominance. The U.S. spends major share of its GDP toward healthcare, and it is a main concern to improve patient care, reduce the wastage of pharmaceutical and biological components. Growing prevalence of chronic diseases coupled with increasing geriatric population that is significantly driving the number of blood transfusion procedures, consumption of various pharmaceutical products. This factor is boosting demand for use of biomedical refrigerators across all the end use segments. Developing countries such as India, China, Indonesia and others is a key factor boosting the expenditure on healthcare infrastructure and medical services. This region is emerging as key medical tourism destination, and the government and private sector are investing significant resources to the reach the service quality standards adopted in the western regions.

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Key players operating in the global biomedical refrigerators market are Thermo Fisher Scientific, Aegis Scientific, Inc., Panasonic Healthcare Co. Ltd., Eppendorf AG, Terumo Corporation, Haier Biomedical, Philipp Kirsch GmbH, Leibherr Group, Inc., and Helmer Scientific.

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