Medical Refrigerators Market by Type, End Use (Blood Banks, Pharmaceutical Companies, Hospital & Pharmacies, Research Institutes, Medical Laboratories, Diagnostic Centre), & Region(North America, Europe, APAC, MEA, South America) - Global Forecast to 2026
Description
Medical Refrigerators Market by Type, End Use (Blood Banks, Pharmaceutical Companies, Hospital & Pharmacies, Research Institutes, Medical Laboratories, Diagnostic Centre), & Region(North America, Europe, APAC, MEA, South America) - Global Forecast to 2026
The medical refrigerators market was valued at USD 3.5 Billion in 2020 and is projected to reach USD 4.9 Billion by 2026, at a CAGR of 6.0% during the forecast period. The medical refrigerators market is on course for intense growth across different end use industries such as blood banks, pharmaceutical companies, hospitals, & pharmacies, research institutes, medical laboratories, and diagnostic centers.
“The ultra-low temperature freezers segment, by value, is projected to grow at the highest CAGR during the forecast period”
By product type, ultra-low temperature freezers segment is expected to grow at the highest CAGR during 2021to 2026, by value. Ultra-low temperature freezers (ULT freezers) are used for the storage of drugs, enzymes, chemicals, bacteria, viruses, cell preparations, and tissue samples, among others. Advancements in drug discovery and development and increasing genomics research activities are expected to be the major drivers for the ultra-low temperature freezers market.
“The blood banks segment, by value, is projected to grow at the highest CAGR during the forecast period”
By end-use, blood banks segment is expected to grow at the highest CAGR during 2021 to 2026, by value. The rise in accidental cases resulting in a high demand for blood and plasma for blood transfusion procedures is driving the use of blood bank refrigerators & plasma freezers in the blood bank end-use segment.
“Middle East & Africa, by value, is projected to grow at the highest CAGR during the forecast period”
By region, Middle East & Africa is expected to grow at the highest CAGR during 2021 to 2026, by value. Investments by major pharmaceutical companies, coupled with the availability of government funds for the promotion of R&D activities in this region, are responsible for the growth of the laboratory freezers market in the Middle East & Africa.
Profile break-up of primary participants for the report:
By Company Type: Tier 1 – 65%, Tier 2 – 20%, and Tier 3 – 15%
By Designation: C-level – 25%, Director Level – 30%, and Others– 45%
By Region: Asia Pacific – 40%, North America – 30%, Europe – 20%, South America – 3%, Middle East & Africa – 7%
Some of the key market players in the medical refrigerators market include Thermo Fisher Scientific Inc. (US), Blue Star Limited (India), Haier Biomedical (China), Aucma (China), Standex International Corporation (US), Godrej & Boyce Manufacturing Co Ltd. (India), Helmer Scientific Inc. (US), Vestfrost Solutions (Denmark), Zhongke Meiling Cryogenics Company Limited (China), Fiochetti (Italy), PHC Holdings Corporation (Japan), Follett LLC (US), Labcold (UK), Dulas Ltd. (UK), HMG India (India). These players have adopted product launches, expansions, contracts, partnerships, and agreements as their growth strategies.
Research Coverage:
The report defines, segments, and projects the medical refrigerators market based on product type, end use, and region. It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and challenges. It analyzes competitive developments, such product launches, expansions, contract, partnerships, and agreements, undertaken by the players in the market.
Reasons to Buy the Report:
The report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the medical refrigerators market and its segments. This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses and make suitable go-to-market strategies. It also enables stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
The medical refrigerators market was valued at USD 3.5 Billion in 2020 and is projected to reach USD 4.9 Billion by 2026, at a CAGR of 6.0% during the forecast period. The medical refrigerators market is on course for intense growth across different end use industries such as blood banks, pharmaceutical companies, hospitals, & pharmacies, research institutes, medical laboratories, and diagnostic centers.
“The ultra-low temperature freezers segment, by value, is projected to grow at the highest CAGR during the forecast period”
By product type, ultra-low temperature freezers segment is expected to grow at the highest CAGR during 2021to 2026, by value. Ultra-low temperature freezers (ULT freezers) are used for the storage of drugs, enzymes, chemicals, bacteria, viruses, cell preparations, and tissue samples, among others. Advancements in drug discovery and development and increasing genomics research activities are expected to be the major drivers for the ultra-low temperature freezers market.
“The blood banks segment, by value, is projected to grow at the highest CAGR during the forecast period”
By end-use, blood banks segment is expected to grow at the highest CAGR during 2021 to 2026, by value. The rise in accidental cases resulting in a high demand for blood and plasma for blood transfusion procedures is driving the use of blood bank refrigerators & plasma freezers in the blood bank end-use segment.
“Middle East & Africa, by value, is projected to grow at the highest CAGR during the forecast period”
By region, Middle East & Africa is expected to grow at the highest CAGR during 2021 to 2026, by value. Investments by major pharmaceutical companies, coupled with the availability of government funds for the promotion of R&D activities in this region, are responsible for the growth of the laboratory freezers market in the Middle East & Africa.
Profile break-up of primary participants for the report:
By Company Type: Tier 1 – 65%, Tier 2 – 20%, and Tier 3 – 15%
By Designation: C-level – 25%, Director Level – 30%, and Others– 45%
By Region: Asia Pacific – 40%, North America – 30%, Europe – 20%, South America – 3%, Middle East & Africa – 7%
Some of the key market players in the medical refrigerators market include Thermo Fisher Scientific Inc. (US), Blue Star Limited (India), Haier Biomedical (China), Aucma (China), Standex International Corporation (US), Godrej & Boyce Manufacturing Co Ltd. (India), Helmer Scientific Inc. (US), Vestfrost Solutions (Denmark), Zhongke Meiling Cryogenics Company Limited (China), Fiochetti (Italy), PHC Holdings Corporation (Japan), Follett LLC (US), Labcold (UK), Dulas Ltd. (UK), HMG India (India). These players have adopted product launches, expansions, contracts, partnerships, and agreements as their growth strategies.
Research Coverage:
The report defines, segments, and projects the medical refrigerators market based on product type, end use, and region. It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and challenges. It analyzes competitive developments, such product launches, expansions, contract, partnerships, and agreements, undertaken by the players in the market.
Reasons to Buy the Report:
The report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the medical refrigerators market and its segments. This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses and make suitable go-to-market strategies. It also enables stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
Table of Contents
234 Pages
- OBJECTIVES OF STUDY
- MARKET DEFINITION
- MARKET SCOPE
- INCLUSIONS & EXCLUSIONS
- YEARS CONSIDERED FOR STUDY
- CURRENCY
- UNIT CONSIDERED
- LIMITATIONS
- STAKEHOLDERS
- SUMMARY OF CHANGES
- RESEARCH DATA
- MATRIX CONSIDERED FOR DEMAND-SIDE
- MARKET SIZE ESTIMATION
- GROWTH RATE ASSUMPTIONS/GROWTH FORECAST
- DATA TRIANGULATION
- MEDICAL REFRIGERATORS MARKET
- ATTRACTIVE OPPORTUNITIES IN MEDICAL REFRIGERATORS MARKET
- MEDICAL REFRIGERATORS MARKET, BY REGION
- MEDICAL REFRIGERATORS MARKET, BY PRODUCT TYPE
- MEDICAL REFRIGERATORS MARKET, BY END USER
- INTRODUCTION
- MARKET DYNAMICS
- PORTER'S FIVE FORCES ANALYSIS
- VALUE CHAIN ANALYSIS
- ECOSYSTEM
- TRADE DATA
- TECHNOLOGY ANALYSIS
- POLICIES AND REGULATIONS
- CASE STUDY ANALYSIS
- PRICE ANALYSIS
- INTRODUCTION
- METHODOLOGY
- DOCUMENT TYPE
- INSIGHT
- INTRODUCTION
- IMPACT OF COVID-19 ON MEDICAL REFRIGERATORS MARKET
- IMPACT OF COVID-19 ON REGIONS
- INTRODUCTION
- COUNTERTOP MEDICAL REFRIGERATOR
- UNDERCOUNTER MEDICAL REFRIGERATOR
- FLAMMABLE MATERIAL STORAGE REFRIGERATOR
- EXPLOSION-PROOF REFRIGERATOR
- INTRODUCTION
- SINGLE DOOR
- DOUBLE DOOR
- INTRODUCTION
- BLOOD BANK REFRIGERATORS & PLASMA FREEZERS
- LABORATORY REFRIGERATORS & FREEZERS
- PHARMACY REFRIGERATORS & FREEZERS
- CHROMATOGRAPHY REFRIGERATORS & FREEZERS
- ENZYME REFRIGERATORS & FREEZERS
- ULTRA-LOW TEMPERATURE FREEZERS
- CRYOGENIC STORAGE SYSTEMS
- INTRODUCTION
- BLOOD BANKS
- PHARMACEUTICAL COMPANIES
- HOSPITALS & PHARMACIES
- RESEARCH INSTITUTES
- MEDICAL LABORATORIES
- DIAGNOSTIC CENTERS
- INTRODUCTION
- NORTH AMERICA
- EUROPE
- ASIA PACIFIC
- MIDDLE EAST & AFRICA
- SOUTH AMERICA
- KEY PLAYERS' STRATEGIES
- MARKET SHARE ANALYSIS
- COMPANY EVALUATION QUADRANT
- COMPETITIVE LEADERSHIP MAPPING OF SME, 2020
- COMPETITIVE SCENARIO
- KEY COMPANIES
- OTHER PLAYERS
- DISCUSSION GUIDE
- KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL
- AVAILABLE CUSTOMIZATIONS
- RELATED REPORTS
- AUTHOR DETAILS
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
