Medical Refrigerators Market - Trends Forecast Till 2028

Medical Refrigerators Market by Product Type, End Use (Blood Banks, Pharmaceutical Companies, Hospitals, & Pharmacies, Research Institutes, Medical Laboratories, and Diagnostic Centers), Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: December, 2021

Base Year Estimate: 2020

Report ID: D-CM-MRM-793

Format:  

Number of Pages: 382

Domain: Chemicals & Materials

Medical Refrigerators Market – Trends Forecast Till 2028

The global Medical Refrigerators Market is projected to reach US$ 5,050.93 million by 2028 from US$ 3,397.48 million in 2021. It is expected to grow at a CAGR of 5.8% from 2021 to 2028.

Biomedical refrigerators are medical equipment that are used to store a variety of samples of biological origin such as blood, derivatives of blood, biological reagents, vaccines, medicines, flammable chemicals, ribonucleic acid (RBA), and deoxyribonucleic acid (DNA).

Surging demand for the safe storage of blood and blood derivatives from hospitals, pharmacies, clinics, and diagnostic centers are some of the factors that have supported long-term expansion for Medical Refrigerators Market.

The COVID-19 outbreak has intensified due to its mode of transmission. The demand for medical refrigerators has increased globally owing to launch of COVID-19 vaccines and roll out of the vaccination programs in many countries. to cater to high demand many players have ramped up their production.

Medical Refrigerators Market Research Report

The North American region is estimated to be the largest market for medical refrigerators in 2019. The US, Canada, and Mexico are the major consumers of medical refrigerators in this region.

Medical Refrigerators Market is segmented into product type, end use, and region.

On the basis of Product Type

  • Blood Bank Refrigerators & Plasma Freezers
  • Laboratory Refrigerators & Freezers
  • Pharmacy Refrigerators & Freezers
  • Chromatography Refrigerators & Freezers
  • Enzyme Refrigerators & Freezers
  • Ultra-Low-Temperature Freezers
  • Cryogenic Storage Systems

On the basis of End-Use Industry

  • Blood Banks
  • Pharmaceutical Companies
  • Hospitals & Pharmacies
  • Research Institutes
  • Medical Laboratories
  • Diagnostic Centers

On the basis of Region

  • Asia Pacific
  • North America
  • Europe
  • South America
  • Middle East & Africa

Insights are provided for each region and major countries within the regions

Medical Refrigerators Market Primary Respondent

 

Key Players

  • Thermo Fisher Scientific Inc.
  • Philipp Kirsch GmbH
  • Godrej & Boyce Manufacturing Company Limited
  • Haier Group Corporation
  • Blue Star Limited
  • Helmer Scientific Inc.
  • Vestfrost Solutions
  • PHC Holdings Corporation
  • FOLLETT LLC
  • Lec Medical

Recent Developments

  • In December 2018, Vestfrost Solutions, a Danish manufacturer of medical refrigerators, invested USD 15.4 million to expand its capacity to manufacture and store refrigerators at its plant in Csongrad, Southern Hungary. This investment helped the plant to carry out extensive R&D activities.
  • In August 2017, Thermo Fisher Scientific Inc. completed the acquisition of Patheon NV, a leading global provider of high-quality drug development and delivery solutions to the pharmaceuticals and biopharma sector. The development is expected to create a synergy within the company, enabling it to have a competitive edge in the medical refrigerator market in the North American region.

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
  • Gain authentic and granular data access for Medical Refrigerators Market so as to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope

 

Report Feature

Descriptions

Market Revenue In 2021

USD 3,397.48 million

Growth Rate

CAGR of 5.8% during the forecasting period, 2021-2028

Historical Data

2018-2019

Forecast Years

2021-2028

Base Year

2020

Units Considered

Revenue in USD million and CAGR from 2021 to 2028

Report Segmentation

Product type, end user and geography.

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

Thermo Fisher Scientific Inc., Philipp Kirsch GmbH, Godrej & Boyce Manufacturing Company Limited, Haier Group Corporation, Blue Star Limited, Helmer Scientific Inc., Vestfrost Solutions, PHC Holdings Corporation, FOLLETT LLC, and Lec Medical.

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