North America biomedical refrigerators and freezers market outlook

The rising need for organ transplants has been eliciting increasing demand for biomedical refrigerators and freezers across North American nations of late. The recent breakthroughs across bio-banking techniques are also likely to trigger the adoption rate of these devices.

However, the high costs of these devices coupled with the spiraling utilization of refurbished tools and equipment in the medical sector can forestall industry growth. Notwithstanding the negative impacts of this factor, the market is certain to progress substantially as new products enter the industry.

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For instance, in January 2021, the lab equipment giant Thermo Fisher Scientific announced the launch of its new controlled-rate freezers that ensure maximum sample protection. The CryoMed freezers offer superior temperature performance, improved data traceability, as well as maintain regulatory compliance.

The following four trends have been exerting a positive impact on the North America biomedical refrigerators and freezers industry outlook.

Demand for plasma freezers to spike as volume of FFP increases

The plasma freezers segment is certain to exhibit remarkable demand through the forecast years, thanks to the spiraling volume of fresh frozen plasma (FFP). The industry share from the segment was over $333.1 million during 2017. Numerous research organizations, blood banks and hospitals have been looking for efficient storage solutions for preserving FFP.

Due to the ongoing COVID-19 pandemic, new COVID-19 treatments including COVID-19 vaccines for fighting the virus are being sought. The growth in the number of clinical trials for developing effective COVID-19 vaccines has been an enabler for the segmental growth, ensuring that the North America biomedical refrigerators and freezers market advances further.

Research labs to register growing demand owing to compliance requirements

The research labs segment is expected to emerge as a major end-user segment through the forecast times and contributed over $88.2 million toward the industry during 2017. The segmental growth can be accredited to the need to fulfill compliance requirements.

Several research and clinical laboratories utilize medical-grade refrigeration facilities for authorizing the integrity of sensitive samples, reagents, vaccines, and other patient specimens. Since the present-day COVID-19 scenario has been creating monumental demand for such refrigeration facilities, the upcoming years are certain to witness a surge for biomedical refrigerators and biomedical freezers in North America.

Growing susceptibility to chronic conditions to elicit demand across U.S.

The biomedical refrigerators and freezers industry in U.S. represented a share of almost 72.5% of the total North America biomedical refrigerators and freezers market share during 2017. The rapid rise in the volume of blood transfusion alongside the growing number of accident victims, cancer patients, and sickle-cell anemia patients has been fueling the expansion rate in the region.

Additionally, the growth in elderly population diagnosed with chronic diseases and disorders can be construed an opportunity favoring the expansion of the biomedical refrigerators and freezers market in North America.

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Shock freezers to exhibit renewed demand

The shock freezers segment of the North American biomedical refrigerators and freezers industry is expected to exhibit fresh demand for the product as the biological preparation activities that need to maintain specific temperature ranges have been generating considerable demand. The industry share from this segment is anticipated to rise at over 4.8% CAGR through the forecast timeline owing to their potential benefits.

Helmer Scientific, Aegis Scientific, Binder, Haier Biomedical, Powers Scientific, Eppendorf, Thermo Fisher Scientific, Arctiko, Migali Scientific, Liebherr-International, and Azbil are some leading manufacturers of biomedical refrigerators and freezers in the market. With the focus on delivering COVID-19 treatments, the industry is expected to soar.

Table of content:

Chapter 1.Methodology & Scope

  • Market scope & definitions
  • Assumptions
  • Research methodology

Chapter 3.Industry Insights

  • Industry segmentation
  • Industry ecosystem analysis
  • Industry impact forces
    • Growth drivers
    • Growth restraints
  • Regulatory overview
  • Porter’s analysis
  • PESTEL analysis
  • Competitive landscape, 2017

 

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