With growing prevalence of infectious and chronic disorders, the demand for biological products and pharmaceuticals is expanding at a rapid rate. However, preservation, storage, and distribution of biological components and temperature sensitive products require thermal insulation to maintain their efficacy and prevent product degradation. Technologically advanced biomedical refrigerators and freezers fulfil the requirement of preserving biomedical materials such as materials, blood cells, vaccines, enzymes, DNA, etc. These specialized cold storage units ensure the integrity of biological products since they provide temperature stability and restore temperature quickly in case of excursion. Rising prevalence of chronic disorders and infectious diseases are fuelling the demand for blood transfusions, DNA-based medications, and other biological products, which in turn, are contributing to the global biomedical refrigerators and freezers market growth.
Plasma Freezers to Dominate the Global Biomedical Refrigerators & Freezers Market
In 2021, the plasma freezers accounted for 28.35% of the global biomedical refrigerators and freezers market. The segment is expected to register the highest growth during the forecast period, owing to increasing demand for safe storage of fresh frozen plasma, platelet concentrates, and red blood cells. As the coronavirus cases remain prevalent, the demand for storing viral specimens, extracted RNA and cDNA is growing for future research and development activities, which is leading to increased adoption of biomedical refrigerators and freezers. Besides, manufacturers are focusing on R&D investment and introducing plasma freezers to expand their product portfolio and penetrate the global market.
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R&D Initiatives Lead to Greater Adoption of Biomedical Refrigerators & Freezers
As life sciences companies continue to invest and advance their innovative therapeutics and vaccines for a wide range of disorders, the clinical trial activities are significantly increasing. Growing trend of precision medicine and targeted therapies coupled with steep rise in infectious disorders are also creating increased need for more R&D initiatives by academic and research institutes. This has led to more demand for preserving biomedical samples, resulting in rise in demand for biomedical refrigerators and freezers. In addition, market players are making huge investments to enhance the efficiency of biomedical refrigerators and freezers to meet the evolving demands of end users, which is expected to boost the global biomedical refrigerators and freezers market growth.
Technological Advancements Leading to Expanded Product Portfolio
Rapid advancements in technology coupled with the availability of improved compressor system, circulation system, and auto cascade cooling systems, which has resulted into enhanced protection and efficiency in biomedical refrigerators and freezers. Government support for the development of innovative products and regulations to safeguard the storage of blood and blood components are expected to fuel the market growth. Enhanced focus on sustainability has led to an increased demand for biomedical refrigerators and freezers that are energy-efficient and reliable. Digital display, long-lasting battery backup, power failure alarms, and decreased noise levels are some of the newest features in advanced biomedical refrigerators and freezers. More such developments and innovations are expected to propel the biomedical refrigerators and freezers market in the coming years. According to TechSci Research report on “Global Biomedical Refrigerators and Freezers Market, By Product (Pass-Through, Explosion Safe, Flammable storage, Combo/Dual Temperature, Ultra Low freezers, Plasma freezers, Others), By Storage (Blood, Vaccines, Plasma, DNA, Flammable chemicals, Others), By Temperature (RNA & DNA (-70°C to -80°C), Vaccines (-30°C to -40 °C), Others), By Capacity (138L, 169L, 221L, 230L, 426L, 690L, Others), By End-user (Hospitals, Pharmacies, Diagnostic Centers, Research Laboratories, Blood Banks), By Region, Forecast & Opportunities, 2027”, the global market for biomedical refrigerators and freezers is expected to register growth at formidable rate. The market growth can be attributed to the rise in number of blood banks and growing prevalence of chronic disorders.
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