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Temperature accuracy and monitoring are important aspects in medical science in order to preserve and store temperature sensitive biomedical components that are frequently used for healthcare processes. One such medical equipment, biomedical refrigerator and freezer is used to store and preserve biomedical materials such as medicines, blood cells, vaccines, enzyme & reagents, DNA (deoxyribose nucleic acid) and others.
Technologically modern biomedical refrigerators offer certain features such as low energy consumption, lower noise level, power failure alarm, longer duration battery backup, digital display and others.
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According to the data published by Pharmaceutical Commerce’s annual Biopharma (PCaB) Cold Chain Sourcebook, in 2017, the demand for temperature-controlled products is increasing twice as compared to non-temperature-controlled products. These along with factors such as increasing prevalence of chronic disease, increasing demand for storing blood samples, biological products, DNA and certain chemicals are anticipated to drive the biomedical refrigerators and freezers market growth.
However, shortcomings of distribution channel supported by low pricing policies of local market players is expected to challenge the expectation of key market players and can hamper the global biomedical refrigerators and freezers market growth during the forecast period.
The major companies in the global biomedical refrigerators and freezers market report include Arctiko, Helmer Scientific, Philipp Kirsch GmbH, TERUMO CORPORATION, Thermo Fisher Scientific Inc., PHC Holdings Corporation, Haier Inc., Eppendorf AG, Aegis Scientific, Inc., B Medical Systems and others.
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The global biomedical refrigerators and freezers market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America and Europe accounted for largest share of the global biomedical refrigerators and freezers market in 2018, owing to factors such as increasing prevalence of chronic disease like cancer that is resulting in boosting the demand for blood transfusions, biomedical products, and DNA-based medications, thereby increasing the global biomedical refrigerator and freezers in the region. Asia Pacific market is growing at a faster pace due to increasing number of blood banks, laboratories, and pharmacies in emerging countries such as China, India and Japan that is resulting in more adoption of biomedical refrigerators and freezers in these countries. Middle East Africa and Latin America market is growing moderately and expected to register a moderate CAGR by the end of the forecast period.
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