Blood Bank Refrigerators Market Size, Share, and Industry Analysis, By Product Type (Standard Blood Bank Refrigerators, Platelets Storage Refrigerators, Plasma Freezers, and Others), By Size (Undercounter, Compact, Mid-sized, and Large), By End User (Blood Banks, Hospitals & ASCs, Specialty Clinics, and Others), and Regional Forecast, 2025-2032

The global blood bank refrigerators market is growing due to the increasing need for critical care and the prominent focus on maintaining quality environments for the storage of blood and blood components. Furthermore, these products provide the maintenance of precise temperatures for blood components. The blood bank refrigerators also ensures the integrity and quality of blood products and it is essential to provide them in a safe environment free from bacterial contamination and in compliance with the regulations.

The technological advancements in these products which includes microprocessor control, LED displays, forced air refrigeration systems, and auto-defrost enhances the efficiency and convenience of these refrigerators. This coupled with the growing number of blood donors globally is anticipated to drive the demand for blood bank refrigerators. In addition, an increase in the number of road accidents and trauma cases is leading to a growing demand for blood transfusion. This is further fostering the demand for these refrigerators in the market.

• According to a 2024 article published by the American Association of Neurological Surgeons (AANS), there are an estimated 1.7 to 3.8 million traumatic brain injuries in the U.S. every year.

Blood Bank Refrigerators Market Driver

Increasing Number of Blood Donors in Key Countries to Fuel Product Demand

The growing awareness regarding the importance of blood donations to save lives along with the increasing initiatives by organizations, companies, and others to drive the blood donation campaigns are some of the factors contributing to the market growth. This is resulting into the rising demand for blood bank refrigerators among the healthcare facilities globally. In addition, the increasing number of accidents and trauma cases, injuries, chronic illnesses, cancer treatments, is driving the demand for blood transfusions and organ transplantations. These are some of the factors fueling the demand for blood bank refrigerators to store blood and blood components.

• According to a 2023 report published by the Association for Blood Donor Professionals (ADRP), there was an increase of nearly 14.1% in donations from individuals aged 25-64 years old in the U.S. from 2019 to 2021.

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As per 2023 statistics published by the World Health Organization (WHO), the median annual donations per blood center ranges from 1,300 to 25,700 globally depending on the income group of the regions.

Blood Bank Market Restraints

Limited Healthcare Infrastructure and Resources in Emerging Countries May Hinder Market Growth

The lack of proper healthcare infrastructure, coupled with the limited resources in the emerging countries in South Asia and sub-Saharan Africa and the high cost associated with these blood bank refrigerators may hinder the market growth. Some of the contributive factors includes the procurement costs, installment costs, operational and maintenance costs of these products and is expected to hinder the demand and adoption of these products in these countries.

• According to a 2023 report published by the World Health Organization (WHO), one in four healthcare facilities in sub-Saharan Africa lacks a source of electricity and three out of four facilities lack reliable power supply.

Blood Bank Refrigerators Market Opportunity

Rising Number of Healthcare Facilities to Generative Lucrative Growth Opportunities

The growing number of healthcare facilities including blood banks, hospitals, and others in developed and developing countries globally is expected to create a greater demand for these blood bank refrigerators in the market to store blood and its components. This can be attributed to the rising healthcare expenditure and improving healthcare infrastructure.

• According to a 2023 report published by the America’s Blood Centers, there are approximately 53 community blood centers and around 90 hospital-based blood centers in the U.S. as per the U.S. FDA Blood Establishment Registration database.

Key-Insights

The report covers the following key insights:

• Overview: Number of Key Surgeries, By Key Countries, 2023
• Statistics: Number of Blood Donations, By Key Countries, 2023
• Overview: Technological Advancements in Blood Bank Refrigerators
• New Product Launches, By Key Players
• Key Industry Developments: Mergers, Acquisitions & Partnerships
• Impact of COVID-19 on the Global Blood Bank Refrigerators Market

Segmentation

Analysis by Product Type

Based on product type, the market is divided into plasma freezers, standard blood bank refrigerators, platelets storage refrigerators, and others.

The increasing number of blood banks, hospitals, and other healthcare facilities along with increasing number of blood donors is a major factor contributing to the growing adoption of standard blood bank refrigerators. Along with this, the growing number of product launches by key players is another significant factor contributing to the growing adoption of these products in the market.

• In November 2023, Zhongke Meiling Cryogenics Company Limited launched two new products including a standard blood bank refrigerator to cater to the rising demand among healthcare facilities.

Analysis by Size

By size, the market is categorized into undercounter, compact, mid-sized, and large.

The mid-sized blood bank refrigerators segment dominated the market. The greater storage capacity and consumption of less space that make the equipment more suitable for healthcare facilities with less space and resources. These are some of the major features supporting the rising adoption of these refrigerators among blood centers, hospitals, and others.

Analysis by End User

Based on end user, the market is divided into blood banks, hospitals and ASCs, specialty clinics, and others.

The blood banks segment accounts for the largest share in the global blood bank refrigerators market. The increasing collection of blood units and other components owing to growing number of blood donors globally are the main factors driving the segment growth.

• According to a 2023 report published by the Indian Ministry of Health and Family Welfare, there are 4,153 licensed blood banks in India in 2023, witnessing a growth of nearly 8.2% compared to the previous year wherein the total number of licensed blood banks in the country was around 3,840.

Regional Analysis

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By region, the market has been studied across North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

In 2023, North America held the largest share of the global blood bank refrigerator market. The increasing number of blood donations and rising initiatives of healthcare facilities including blood banks in the U.S., and Canada to expand its capacity, and services offerings are key factors driving the market growth in the region.

• In April 2023, San Diego Blood Bank launched Innovative Precision Blood, with an aim to expand the capacity of the facility and drive the number of blood donations.

The Europe market is projected to grow significantly during the forecast period. The rising focus of the key players to strategically merge and acquire other players to expand its product portfolio is one of the main factors expected to boost the demand for these products in the region.

• In January 2024, HETTICH AG acquired Philipp Kirsch GmbH, one of the leading medical refrigerators providers, with an aim to expand its product portfolio and the brand presence in European countries. 

Similarly, the growing healthcare expenditure in countries such as China, India, Australia, and others along with the rising demand for blood bank refrigerators in these countries, push the growth of the Asia Pacific market.  

Key Players Covered

The global blood bank refrigerators market reflects a fragmented market structure, with a vast number of players operating in the market, with a wide product portfolio.

The report includes the profiles of the following key players from the global market:

• B Medical Systems (Luxembourg)
• Biomedical Solutions Inc. (U.S.)
• Haier Biomedical (China)
• PHC Corporation (Japan)
• Thermo Fisher Scientific Inc. (U.S.)
• FOLLETT PRODUCTS, LLC. (U.S.)
• Arctiko (Denmark)
• Hettich AG (Switzerland)
• VWR International, LLC. (U.S.)

Key Industry Developments

• In January 2024, Haier Biomedical secured the tender to supply over 300 units of blood bank refrigerators with an aim to develop the comprehensive blood management solutions in Tanzania.
• In September 2022, Helmer Scientific Inc., launched GX Solutions Pharmacy and Blood Bank Refrigerators for healthcare facilities with an aim to expand its product portfolio.