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Biomedical Refrigerator and Freezer Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 117 Pages
  • January 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 4997416

The Biomedical Refrigerator and Freezer Market is expected to register a CAGR of 4.2% over forecast period. Biomedical refrigerators and freezers are storage containers mainly used for storing biological samples such as blood, DNA samples, vaccine, etc. Major factors which are expected to drive the biomedical refrigerator and freezer market growth are growing burden of diseases, increasing demand for organ transplantation and developing technology into products. According to World Health Organization, in 2018 around 116.3 million of infants got vaccinated against diphtheria-tetanus-pertussis (DTP). This drives the requirement for storing of vaccines and bio pharmaceuticals. Therefore, as the demand for vaccination is increasing the demand for biomedical refrigerator and freezers will also increase. But, biomedical refrigerator and freezer are quite expensive which is expected to hamper the biomedical refrigerator and freezer market growth.

Key Market Trends

Bio banks Segment is Expected to Hold a Major Share in the Biomedical Refrigerator and Freezer Market

  • Bio banks also known as bio repositories are used for storing biological samples mainly for research purposes, many of which includes genome therapy and personalized medicines. These specimens require huge amount of storage and at a very low temperature.
  • According to Canadian Health Measures Survey, the Canadian bio bank contains sample size of approximately 3700 DNA, 9200 of whole blood, and 14,900 plasma.
  • Furthermore, hospital segment is also expected to show a significant growth. As the number of hospitals are increasing the demand for storage of vaccines and drugs are also increasing. For instance, in the United States, the number of hospitals in 2016 was 5,534 which increased to 6,210 in 2017 as surveyed by American Hospital Association.

North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period

North America expected to hold a major market share in the global biomedical refrigerator and freezer market with increasing burden of diseases and increasing organ transplantation which might increase the demand for drug storage. Disability-Adjusted Life Years (DALYs) is a measuring tool for total burden of diseases, per 100,000 individuals. A region is considered with the best health rate when the DALYs is below 20,000. According to the study published by Institute for Health and Metrics Evaluation, United States rate of burden disease was 24,305 DALYs. Hence, these factors are expected to boost the demand for biomedical refrigerator and freezer, thereby expected to drive the market growth in this region.

Competitive Landscape

The Biomedical Refrigerator and Freezer Market is fragmented and consists of several major players. In terms of market share, few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Thermofisher Scientific Inc., Terumo BCT Inc., Arctiko, Froilabo SAS, LabRepCo, Philips Kirsch GmbH, PHC Corporations, Haier Biomedical and Helmer Scientific Inc.

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Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Burden of Chronic Diseases
4.2.2 Increasing Demand for Organ Transplantation and Biopharmaceuticals
4.3 Market Restraints
4.3.1 High Cost
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1 By Product Type
5.1.1 Plasma Freezers
5.1.2 Blood Bank Refrigerators
5.1.3 Laboratory Refrigerators
5.1.4 Laboratory Freezers
5.1.5 Others
5.2 By End User
5.2.1 Hospital/ Clinics
5.2.2 Bio Banks
5.2.3 Others
5.3 Geography
5.3.1 North America United States Canada Mexico
5.3.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.3.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.3.4 Middle-East and Africa GCC South Africa Rest of Middle-East and Africa
5.3.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 Aegis Scientific Inc.
6.1.2 Arctiko
6.1.3 Froilabo SAS
6.1.4 Haier Biomedical
6.1.5 Helmer Scientific Inc.
6.1.6 LabRepCo
6.1.7 PHC Corporations
6.1.8 Philips Kirsch GmbH
6.1.9 Thermofisher Scientific Inc.
6.1.10 Terumo BCT, Inc.

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Aegis Scientific Inc.
  • Arctiko
  • Froilabo SAS
  • Haier Biomedical
  • Helmer Scientific Inc.
  • LabRepCo
  • PHC Corporations
  • Philips Kirsch GmbH
  • Thermofisher Scientific Inc.
  • Terumo BCT, Inc.