May 28, 2020
As per the report titled ‘U.S. Biomedical Refrigerators and Freezers Market Size By Product, By End-use, Industry Analysis Report, Application Potential, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report LLC, U.S. biomedical refrigerators and freezers market is anticipated to see a remunerative growth during 2020-2026.
Expansion of healthcare sector and rising cases of various health conditions are boosting the demand for biomedical refrigerators & freezers in hospitals, pharmacies, hospitals, research labs, and diagnostic centers across the U.S.
Biomedical refrigerators & freezers provide optimal conditions for efficient and reliable storage of biological samples and chemicals including vaccines, blood & its derivatives, medicines, flammable chemicals, biological reagents, DNA, and RBA.
Based on the product terrain, plasma freezers segment accrued USD 315 million in 2019 and is expected to grow exponentially over the analysis timeframe. The growth can be affixed to high adoption of plasma freezers in the region for safe and efficient storage of vaccines, whole blood, and plasma products.
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Lab freezers segment is also set to experience a robust demand in the forthcoming years, owing to their extensive use in cooling and storing samples & specimens for preservation. These freezers have separate refrigeration compartments for storage of blood plasma and other blood derivatives, as well as vaccines, pharmaceuticals, and other medical supplies to prevent cross contamination. Moreover, these freezers maintain constant temperature and feature integrated displays to monitor temperatures.
Speaking of the end-user spectrum, pharmacy segment holds a significant revenue share and is projected to register 2.6% CAGR through 2026. Extensive use of medical-grade refrigerators in hospital pharmacies, retail pharmacies, and community pharmacies for efficient storage of vaccines, pharmaceuticals, and compound sterile preparations is driving the segment share.
Meanwhile, diagnostic centers segment is anticipated to see robust growth in the coming years. Heavy investments for development of new drugs in diagnostic centers have bolstered the adoption of biomedical refrigerators and freezers for storing of biological specimens. Additionally, technological advancements in refrigeration systems geared towards making the equipment ideal for biomedical applications in diagnostic centers will further create new growth prospects for market players.
Key contenders operating in U.S. biomedical refrigerators and freezers market are Powers Scientific, Compact Alliance, Aegis Scientific, Inc., Continental Scientific, Helmer Scientific, Follett LLC, NuAire, Lab Research Products, Panasonic Healthcare Corporation of North America, So-Low Environment Equipment, Thermo Fisher Scientific, Migali Scientific, and Stirling Ultracold, Global Cooling.