U.S. Biomedical Refrigerators & Freezers Market to Hit $1.4B by 2026: Global Market Insights, Inc.

The U.S. biomedical refrigerator & freezer market revenue from the blood banks segment is poised to cross USD $540 million by 2026, owing to the massive rise in the number of scientifically advanced blood banks, along with the rising demand for cellular therapies, blood transfusions, customized vaccines and medicines.

Biomedical Refrigerators & Freezers Market size in U.S. worth $1.4B by 2026

Global Market Insights, Inc. has recently added a new report on the biomedical refrigerators and freezers market in the United States, which estimates the market valuation for biomedical refrigerators and freezers in the region will cross USD $1.4 billion by 2026. Growing investments in research activities and clinical studies will primarily drive the market growth over the forecast period.

An increasing prevalence of chronic and infectious diseases is leading to a surge in demand for blood transfusions and will serve to be one of the key factors driving the biomedical refrigerators and freezers' industry growth. The surge in demand for organ transplantation procedures, blood transfusions, biopharmaceuticals and cellular therapies will foster biomedical refrigerators and freezers adoption over the forthcoming years.

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Some major findings of the U.S. biomedical refrigerators and freezers market report include:

1)   Rising government support for research activities and clinical trials in the U.S.

2)   Technological advancements in biomedical refrigerators and freezers.

3)   Increasing geriatric population in the country.

4)   Advances increasing demand for biopharmaceuticals and organ transplantation.

According to this report, the ultra-low temperature freezers accounted for more than USD $110 million in 2019, owing to its adoption for the storage of biological materials such as blood, eukaryotic cells, virus, bacteria and semen. Technological advancements in these freezers, resulting in enhanced accessibility and operation management, will foster the segment growth.

The advent of technology in biomedical refrigerators and freezers will positively impact the market expansion. Advances such as single compressor technology that ensures low noise levels and reduced energy consumption will increase product demand during the forthcoming years. A strong foothold of key industry players in the U.S. will further boost the adoption of advanced biomedical refrigerators and freezers. However, high purchase and maintenance costs associated with medical-grade refrigerators and freezers may negatively impact the market growth.

The shock freezers segment is projected to witness around a 5% CAGR over the forecast period. The segment growth is attributed to the adoption of shock or blast freezers to rapidly reduce the temperature of biological samples below -30°C. Increasing adoption of shock freezers for fast freezing of blood components, pharmaceuticals and biological preparations will thus escalate the product demand over the analysis timeframe.

Browse key industry insights spread across 70 pages with 32 market data tables and 7 figures and charts from the report, “U.S. Biomedical Refrigerators and Freezers Market Share & Forecast, 2020 – 2026”, in detail, along with the table of contents:

https://www.gminsights.com/industry-analysis/us-biomedical-refrigerators-and-freezers-market

The blood bank segment held a significant revenue share in 2019 and is poised to exceed USD $540 million by 2026. The segment's growth is majorly attributed to the increasing number of blood banks in the U.S. Rising demand for cellular therapies, blood transfusion, customized vaccines and medicines will further spur the segment size. Moreover, a massive rise in the number of scientifically advanced blood banks will accelerate the demand for biomedical refrigerators and freezers over the analysis timeframe.

Some major findings of the U.S. biomedical refrigerators and freezers market report include:

  • The American Red Cross Society reports the utilization of more than 35,000 units of RBCs in the U.S. every year, owing to the growing disease burden.
     
  • Rigorous investments in new drug development have escalated the need for biomedical refrigerators and freezers for biological sample storage.
     
  • Technological advancements in medical-grade refrigeration and the availability of biomedical refrigerators and freezers with advanced features will upsurge the product demand.
     
  • Adoption of high-end technology and advanced healthcare infrastructure in the U.S. healthcare facilities will positively impact the market expansion.

Some of the prominent players operating in biomedical refrigerators and freezers market include Aegis Scientific, Panasonic Healthcare Corporation of North America, Coldway, Liebherr-International, Thermo Fisher Scientific and Haier Biomedical. The industry players primarily focus on novel product launches, partnerships and acquisitions to strengthen their existing product portfolio and sustain market competition.

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Partial chapters of report table of contents (TOC):

Chapter 2. Executive Summary

2.1. U.S. biomedical refrigerators and freezers industry 360⁰ synopsis, 2015 - 2026

2.1.1.    Business trends

2.1.2.    Product trends

2.1.3.    End-use trends

Chapter 3. U.S. Biomedical Refrigerators and Freezers Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2015 - 2026

3.3. Industry impact forces

3.3.1.    Growth drivers

3.3.2.    Industry pitfalls and challenges

3.3.2.1.    Presence of large number of local players providing affordable refurbished equipment

3.3.2.2.    Release of hydrofluorocarbons from refrigerators and freezers have deleterious impact on environment

3.3.2.3.    High purchase costs, maintenance costs and energy costs of biomedical refrigerators and freezers

3.4. Growth potential analysis

3.4.1.    By product

3.4.2.    By end-use

3.5. Porter’s analysis

3.6. Competitive landscape, 2018

3.6.1.    Strategy dashboard

3.7. PESTEL analysis

Browse complete report table of contents at https://www.gminsights.com/toc/detail/us-biomedical-refrigerators-and-freezers-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Source: Global Market Insights, Inc.

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Categories: Air Conditioning, Heating, Refrigeration. Ventilation, and Plumb

Tags: Biomedical Refrigerators & Freezers Market, Blood Bank Refrigerators, Lab Freezers, Lab Refrigerators, Plasma Freezers, Shock Freezers, Ultra-low Temperature Freezers


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