Product Code: GVR-1-68038-179-5
Market Size & Trends:
The global biomedical refrigerators and freezers market size was valued at USD 4.01 billion in 2023 and is projected to grow at a CAGR of 6.4% from 2024 to 2030. The rising geriatric population worldwide and the prevalence of chronic diseases such as cardiovascular disease, diabetes, and cancer are major drivers contributing to the market's growth. In addition, these medical facilities are used to avoid product degradation, provide thermal insulation and store biological, which has increased their usage, leading to the market's growth.
The advancement of science and technology has increased the R&D activities in the medical goods industry, which has helped promote medication discovery and creation. In addition, the growing demand for biopharmaceuticals and organ transplantation has boosted the biomedical refrigerators and freezers market to grow positively in the forecast period. For instance- in January 2024, according to a report published in the Organ Procurement & Transplantation Network, a total of 46,632 organ transplants were performed in the year 2023.
The increasing prevalence of chronic disease worldwide has a major impact on how the biomedical refrigerators and freezers market has been growing. According to World Health Organization (WHO) data, about 17 million people die from chronic disease before the age of 70. Cardiovascular disease accounts for most chronic disease deaths, followed by 9.3 million deaths by cancer, 4.1 million by chronic respiratory diseases, and about 2 million by diabetes and kidney diseases caused by diabetes. These biomedical refrigerators and freezers are essential for storing vaccines, blood, and blood components used in the treatment of various chronic illnesses such as cancer, cardiac diseases, and infectious diseases. This has led to their high usage rate, driving the market to grow in the forecast period.
Ongoing improvements in biopharmaceuticals, personalized medicine, and gene treatments are expected to increase the demand for precise and specialized storage conditions provided by biomedical refrigerators and freezers. Advances in life science and pharmaceutical research increases the demand for ultra-low temperature freezers which require dependable, accurate, and secure preservation equipment. This is expected to drive market growth and support the development of new treatments for chronic diseases. For instance- in February 2023, Panasonic Healthcare Corporation launched the PHCbi Brand VIP ECO SMART Ultra-Low Temperature Freezer without compromising preservation capability and helps in minimizing power consumption.
Various government initiatives and support from government to provide technical and financial assistance in the improvement of healthcare infrastructure, treatment of several chronic diseases and procurement of biomedical refrigerators and freezers is a positive trend witnessed in the market. For instance, in 2019, the World Health Assembly extended the WHO Global Action Plan for the control and prevention of NCDs in 2013 to 2020 and further extending it to 2030, thereby contributing towards the achievement SDG goal 3.4.
Global Biomedical Refrigerators And Freezers Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global biomedical refrigerators and freezers market report based on products, end use, and region.
- Product Outlook (Revenue, USD Million, 2018 - 2030)
- Blood Bank Refrigerators
- Shock Freezers
- Plasma Freezers
- Ultra Low Temperature Freezers
- Laboratory /Pharmacy/Medical Refrigerators
- Laboratory /Pharmacy/Medical Freezers
- End Use (Revenue, USD Million, 2018 - 2030)
- Hospitals
- Research Laboratories
- Pharmacies
- Diagnostic Centers
- Blood Banks
- Others
- Regional Outlook (Revenue, USD Million; 2018 - 2030)
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Thailand
- Latin America
- MEA
- South Africa
- Saudi Arabia
- UAE
- Kuwait
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Biomedical Refrigerators and Freezers Market Variables, Trends, & Scope
- 3.1. Market Introduction/Lineage Outlook
- 3.2. Market Size and Growth Prospects (USD Million)
- 3.3. Market Dynamics
- 3.3.1. Market Drivers Analysis
- 3.3.2. Market Restraints Analysis
- 3.4. Biomedical Refrigerators and Freezers Market Analysis Tools
- 3.4.1. Porter's Analysis
- 3.4.1.1. Bargaining power of the suppliers
- 3.4.1.2. Bargaining power of the buyers
- 3.4.1.3. Threats of substitution
- 3.4.1.4. Threats from new entrants
- 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL Analysis
- 3.4.2.1. Political landscape
- 3.4.2.2. Economic and Social landscape
- 3.4.2.3. Technological landscape
- 3.4.2.4. Environmental landscape
- 3.4.2.5. Legal landscape
Chapter 4. Biomedical Refrigerators and Freezers Market: Product Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Biomedical Refrigerators and Freezers Market: Product Movement Analysis, USD Million, 2023 & 2030
- 4.3. Blood bank refrigerators
- 4.3.1. Blood bank refrigerators Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4. Pulmonary Regurgitation
- 4.4.1. Pulmonary Regurgitation Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.5. Shock freezers
- 4.5.1. Shock freezers Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.6. Plasma freezers
- 4.6.1. Plasma freezers Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.7. Ultra low temperature freezers
- 4.7.1. Ultra low temperature freezers Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.8. Laboratory /Pharmacy/Medical refrigerators
- 4.8.1. Laboratory /Pharmacy/Medical refrigerators Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.9. Laboratory /Pharmacy/Medical freezers
- 4.9.1. Laboratory /Pharmacy/Medical freezers Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Biomedical Refrigerators and Freezers Market: End Use Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Biomedical Refrigerators and Freezers Market: End Use Movement Analysis, USD Million, 2023 & 2030
- 5.3. Hospitals
- 5.3.1. Hospitals Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4. Research laboratories
- 5.4.1. Research laboratories Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.5. Pharmacies
- 5.5.1. Pharmacies Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.6. Diagnostic centers
- 5.6.1. Research laboratories Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.7. Blood banks
- 5.7.1. Blood banks Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.8. Others
- 5.8.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Biomedical Refrigerators and Freezers Market: Regional Estimates & Trend Analysis
- 6.1. Biomedical Refrigerators and Freezers Market Share, By Region, 2023 & 2030, USD Million
- 6.2. North America
- 6.2.1. North America Biomedical Refrigerators and Freezers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.2. U.S.
- 6.2.2.1. U.S. Biomedical Refrigerators and Freezers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.3. Canada
- 6.2.3.1. Canada Biomedical Refrigerators and Freezers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.4. Mexico
- 6.2.4.1. Mexico Biomedical Refrigerators and Freezers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3. Europe
- 6.3.1. Europe Biomedical Refrigerators and Freezers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.2. UK
- 6.3.2.1. UK Biomedical Refrigerators and Freezers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.3. Germany
- 6.3.3.1. Germany Biomedical Refrigerators and Freezers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.4. France
- 6.3.4.1. France Biomedical Refrigerators and Freezers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.5. Italy
- 6.3.5.1. Italy Biomedical Refrigerators and Freezers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.6. Spain
- 6.3.6.1. Spain Biomedical Refrigerators and Freezers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.7. Denmark
- 6.3.7.1. Denmark Biomedical Refrigerators and Freezers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.8. Sweden
- 6.3.8.1. Sweden Biomedical Refrigerators and Freezers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.9. Norway
- 6.3.9.1. Sweden Biomedical Refrigerators and Freezers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4. Asia Pacific
- 6.4.1. Asia Pacific Biomedical Refrigerators and Freezers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.2. Japan
- 6.4.2.1. Japan Biomedical Refrigerators and Freezers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.3. China
- 6.4.3.1. China Biomedical Refrigerators and Freezers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.4. India
- 6.4.4.1. India Biomedical Refrigerators and Freezers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.5. South Korea
- 6.4.5.1. South Korea Biomedical Refrigerators and Freezers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.6. Thailand
- 6.4.6.1. Thailand Biomedical Refrigerators and Freezers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5. Latin America
- 6.5.1. Latin America Biomedical Refrigerators and Freezers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5.2. Brazil
- 6.5.2.1. Brazil Biomedical Refrigerators and Freezers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5.3. Argentina
- 6.5.3.1. Argentina Biomedical Refrigerators and Freezers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6. Middle East and Africa
- 6.6.1. Middle East and Africa Biomedical Refrigerators and Freezers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.2. South Africa
- 6.6.2.1. South Africa Biomedical Refrigerators and Freezers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.3. Saudi Arabia
- 6.6.3.1. Saudi Arabia Biomedical Refrigerators and Freezers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.4. UAE
- 6.6.4.1. Biomedical Refrigerators and Freezers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.5. Kuwait
- 6.6.5.1. Kuwait Biomedical Refrigerators and Freezers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Competitive Landscape
- 7.1. Recent Developments & Impact Analysis by Key Market Participants
- 7.2. Company Categorization
- 7.3. Company Heat Map Analysis
- 7.4. Company Profiles
- 7.4.1. Panasonic Healthcare Corporation
- 7.4.1.1. Participant's Overview
- 7.4.1.2. Financial Performance
- 7.4.1.3. Product Benchmarking
- 7.4.1.4. Recent Developments/ Strategic Initiatives
- 7.4.2. Haier Biomedical
- 7.4.2.1. Participant's Overview
- 7.4.2.2. Financial Performance
- 7.4.2.3. Product Benchmarking
- 7.4.2.4. Recent Developments/ Strategic Initiatives
- 7.4.3. Eppendorf AG
- 7.4.3.1. Participant's Overview
- 7.4.3.2. Financial Performance
- 7.4.3.3. Product Benchmarking
- 7.4.3.4. Recent Developments/ Strategic Initiatives
- 7.4.4. Power Scientific, Inc.
- 7.4.4.1. Participant's Overview
- 7.4.4.2. Financial Performance
- 7.4.4.3. Product Benchmarking
- 7.4.4.4. Recent Developments/ Strategic Initiatives
- 7.4.5. Aegis Scientific, Inc.
- 7.4.5.1. Participant's Overview
- 7.4.5.2. Financial Performance
- 7.4.5.3. Product Benchmarking
- 7.4.5.4. Recent Developments/ Strategic Initiatives
- 7.4.6. B Medical Systems
- 7.4.6.1. Participant's Overview
- 7.4.6.2. Financial Performance
- 7.4.6.3. Product Benchmarking
- 7.4.6.4. Recent Developments/ Strategic Initiatives
- 7.4.7. Follett LLC
- 7.4.7.1. Participant's Overview
- 7.4.7.2. Financial Performance
- 7.4.7.3. Product Benchmarking
- 7.4.7.4. Recent Developments/ Strategic Initiatives
- 7.4.8. Helmer Scientific
- 7.4.8.1. Participant's Overview
- 7.4.8.2. Financial Performance
- 7.4.8.3. Product Benchmarking
- 7.4.8.4. Recent Developments/ Strategic Initiatives
- 7.4.9. Thermo Fisher Scientific
- 7.4.9.1. Participant's Overview
- 7.4.9.2. Financial Performance
- 7.4.9.3. Product Benchmarking
- 7.4.9.4. Recent Developments/ Strategic Initiatives
- 7.4.10. Azbil Corporation
- 7.4.10.1. Participant's Overview
- 7.4.10.2. Financial Performance
- 7.4.10.3. Product Benchmarking
- 7.4.10.4. Recent Developments/ Strategic Initiatives