Market Research Report
Biomedical Refrigerator and Freezer Market - Growth, Trends And Forecast (2020 - 2025)
|Published by||Mordor Intelligence Pvt Ltd||Product code||927778|
|Published||Content info||117 Pages
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|Biomedical Refrigerator and Freezer Market - Growth, Trends And Forecast (2020 - 2025)|
|Published: March 1, 2020||Content info: 117 Pages||
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.
Bio banks Segment is Expected to Hold a Major Share in the Biomedical Refrigerator and Freezer Market
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.
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.