Market Research Report
North America Medical and Lab Refrigerator Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product Type ; End User, and Geography
|North America Medical and Lab Refrigerator Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product Type ; End User, and Geography|
Published: November 11, 2020
The Insight Partners
Content info: 98 Pages
Delivery time: 1-2 business days
The North America Medical and Lab Refrigerator market is expected to reach US$ 647.19 million in 2027 from US$ 497.92 million in 2019; it is estimated to grow at a CAGR of 3.3% from 2020 to 2027
The US market for medical and lab refrigerators is highly propelled by increasing investments in research activities for the treatment of diseases, rising occurrence of infectious and chronic diseases, as well as the replacement of older refrigerators with more advanced energy-efficient refrigerators.
Complete adoption of medical-grade refrigeration remains to be a precedence for hospitals and pharmacists. In addition, keeping regulatory compliance for temperature-sensitive medications and vaccines, as well as safeguarding patient safety, normally drives the investment decision in medical-grade refrigeration.
Agencies such as State Departments of Health, CDC, State Boards of Pharmacy, and Joint Commission, among others, include refrigeration in the course of inspections and audits. It signifies that hospitals, laboratories, and pharmacists should take refrigerator performance into consideration as an important aspect.
Based on product type, the blood bank refrigerators, laboratory refrigerators, pharmacy refrigerators, enzyme refrigerators, others. Every facility has specific requirements when it comes to freezing and refrigeration. For instance, research laboratories may require holding vital biological samples at a balanced temperature or risk cooperating with a timely study. In contrast, certain health clinics may need simple freezers to keep ice packs.
Based on end use, the market is segmented into blood banks, pharmaceutical companies, hospitals and pharmacies, research institutes, others.
The World Health Organization (WHO), Food and Drug Administration (FDA), Centers for Disease Control and Prevention (CDC), Pfizer Inc., and Sanofi along with company websites, are a few of the major primary and secondary sources referred for preparing this report.
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