Biomedical Refrigerators and Freezers Market Pegged for Robust Expansion During 2018 – 2028

Press Release

TMRR, in its recent market report, suggests that the keyword market report is set to exceed US$ xx Mn/Bn by 2029. The report finds that the keyword market registered ~US$ xx Mn/Bn in 2018 and is spectated to grow at a healthy CAGR over the foreseeable period. This keyword market study considers 2018 as the base year, 2019 as the estimated year, and 2019 – 2029 as the forecast timeframe.

The keyword market research focuses on the market structure and various factors (positive and negative) affecting the growth of the market. The study encloses a precise evaluation of the keyword market, including growth rate, current scenario, and volume inflation prospects, on the basis of DROT and Porter’s Five Forces analyses. In addition, the keyword market study provides reliable and authentic projections regarding the technical jargon.

Important regions covered in the keyword market research include Region 1 (Country 1, country 2), Region 2 (Country 1, country 2), Region 3 (Country 1, country 2) and Region 4 (Country 1, country 2).

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The keyword market study answers critical questions including:

  1. What tactics are being utilized by the keyword market players to expand their production footprint in region?
  2. What are the threats faced by players in the global keyword market mutually?
  3. Why region holds the majority of share in the global keyword market?
  4. Why segment has the largest consumption in region?
  5. Which industries remain the leading consumers of the keyword across the globe?

The content of the keyword market report includes the following insights:

  • Growth outlook of the global keyword market in terms of value and volume
  • Strategies utilized by different keyword market players.
  • Drivers, restraints, opportunities and trends (DROT Analysis) impacting the growth prospect for the keyword over the forecast period.
  • End use consumption of the keyword across various regions.
  • Identify the ecological impacts of the keyword and what regulations are being imposed on its usage.

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Key Trends 

Increasing research and development activities across several sectors such as healthcare have been propelling the growth of the biomedical refrigerators and freezers market. The rising demand for personalized medicine, organ transplants, blood transfusions, vaccines, and cellular therapies have led to a greater demand for biomedical refrigerators and freezers. On the contrary, the highly competitive nature of the market wherein several local players are offering products at competitive prices, along with the rising adoption of refurbished equipment, might slacken the growth of the market.  

Growing demand for eco-friendly, greener equipment across the globe has been one of the major trends that is likely to contribute towards market expansion. The rising concerns about greenhouse emissions, increasing pollution levels, and the consequent hazards posed to human health have led to the development of new, environment-friendly refrigerators and freezers. 

Global Biomedical Refrigerators and Freezers Market: Market Potential 

A number of market players appear to be intent on pocketing more profits through acquisitions and mergers. Strategic collaborations and partnerships have also been adopted by several companies with a view to gain a strong foothold in the global market for biomedical refrigerators and freezers. 

In October 2016, Standex International Corporation acquired Horizon Scientific, Inc., a South Carolina-based company that supplies refrigerators and freezers to pharmaceutical and biomedical entities. The acquisition will enable greater penetration of Standex into the scientific sector, bringing in significant profits. Horizon Scientific, Inc. in turn will benefit from faster growth prospects through the expansion of its manufacturing and engineering capacities. 

Product development has also been a major concern among the leading market players. For instance, Thermo Fisher Scientific offers diverse refrigerators and freezers for pharmaceutical industry, research in chromatography, laboratory purposes, and blood bank storages among several other uses, designed as per the requirements of that particular sector. Explosion-proof refrigerators and freezers for flammable materials are also engineered by this firm.

Global Biomedical Refrigerators and Freezers Market: Regional Outlook 

Based on geography, the global biomedical refrigerators and freezers market can be segmented into Asia Pacific, Latin America, the Middle East and Africa, Europe, and North America. North America appears to be the leading regional segment, with the U.S. being the major contributor. The growth of this regional biomedical refrigerators and freezers market can be attributed to the upsurge in the incidence of infectious and chronic diseases, coupled with beneficial government policies. Latin America has been witnessing rising demand for biomedical refrigerators and freezers owing to a substantial increase in the number of plasma freezer installations and blood bank refrigerators in the research domain. Asia Pacific is also slated for considerable growth. 

Global Biomedical Refrigerators and Freezers Market: Competitive Analysis 

The global market for biomedical refrigerators and freezers appears to be consolidated in terms of competition, as a handful of market players cater to the rising demand for these products. 

Some of the major companies operating in the global biomedical refrigerators and freezers market are Panasonic Healthcare, Aegis Scientific, Thermo Fisher Scientific, Eppendorf, Helmer Scientific, Leibherr Group, Terumo Corporation, Philipp Kirsch, and Haier Biomedical.

In 2015, Panasonic Healthcare Co., Ltd., Thermo-Fisher Scientific, Inc., and Eppendorf AG emerged at the fore, accounting for a major portion of the share.

All the players running in the global keyword market are elaborated thoroughly in the keyword market report on the basis of R&D developments, distribution channels, industrial penetration, manufacturing processes, and revenue. In addition, the report examines, legal policies, and comparative analysis between the leading and emerging keyword market players.  

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