Dublin, Oct. 25, 2019 (GLOBE NEWSWIRE) -- The "Medical Refrigerators Market by Product Type, End Use (Blood Banks, Pharmaceutical Companies, Hospitals, & Pharmacies, Research Institutes, Medical Laboratories, and Diagnostic Centers), Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The Medical Refrigerators Market is Projected to Grow from USD 3.3 Billion in 2019 to USD 4.2 Billion by 2024, at a CAGR of 5.3%.

• This report defines, segments, and projects the size of the medical refrigerators market based on product type, end-use, and region.
• It strategically profiles the key players and comprehensively analyzes their market share and core competencies.
• It also tracks and analyzes competitive developments, such as acquisitions, expansions, partnerships, and new product launches, undertaken by them in the market.

The report discusses competitive strategies adopted by the leading market players, such as Thermo Fisher Scientific Inc. (US), Blue Star Limited (India), Helmer Scientific (US), Vestfrost Solutions (Denmark), Felix Storch, Inc. (US), Philipp Kirsch GmbH (Germany), Haier Biomedical (China), Follett LLC (US), PHC Holdings Corporation (Japan), LEC Medical (United Kingdom), and Zhongke Meiling Cryogenics Company Limited (China).

The medical refrigerators market is projected to grow at a CAGR of 5.3% from 2019 to 2024, in terms of value

The increasing demand for medical refrigerators from end-users, such as blood banks and pharmaceutical companies, drives the global medical refrigerators market. Factors such as extra cost required in the usage of medical refrigerators as well as the rising demand for refurbished medical equipment around the world are restraining the growth of the medical equipment & freezers market.

The blood banks segment is projected to lead the medical refrigerators market, in terms of both value and volume during the forecast period

Based on end-use, the blood banks segment led the medical refrigerators market in 2018, in terms of both value and volume. The growth of this segment can be attributed to an increase in the number of geriatric population and the high demand for safe blood due to the prevalence of transfusion transmissible infections, such as HIV and hepatitis B, across the globe. Furthermore, the surge in prevalence of hematological diseases and a rise in the number of accidents are raising the demand for plasma for use in plasma fractionation procedures, resulting in the hike in demand for plasma freezers in blood banks.

The blood bank refrigerators & plasma freezers type segment is projected to lead the medical refrigerators market, in terms of both value and volume, from 2019 to 2024

Based on product type, the blood bank refrigerators & plasma freezers segment accounted for the largest share of the medical refrigerators market in 2018. This segment is projected to lead the market, in terms of both value and volume, during the forecast period as well. Blood bank refrigerators are specially designed for safe storage of whole blood, blood components, and reagents at a temperature ranging from 2C to 6C. These refrigerators are used in blood bank centers, hospitals, and laboratories. Plasma freezers are used for safe storage of fresh frozen plasma, red blood cells, and cryoprecipitate and platelet concentrates at a temperature as low as -30C and -40C. These special freezers are typically used in blood banks and research centers for the conservation of plasma and blood derivatives.

North America is projected to lead the medical refrigerators market during the forecast period, in terms of both value and volume

The North America region is projected to lead the medical refrigerators market from 2019 to 2024, in terms of both value and volume. The demand for medical refrigerators is increasing in North America owing to the significant rise in life science research activities for disease treatment from academic & research institutes. Also, the increasing occurrence of chronic and infectious diseases and rising demand for personalized medical care drive the market growth in this region. Replacement of older medical refrigerators with newer and more advanced energy-efficient cold storage devices is also contributing to the growth of the North American medical refrigerator & freezers market.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Medical Refrigerators Market
4.2 Medical Refrigerators Market, By Type
4.3 Medical Refrigerators Market, By Type
4.4 Medical Refrigerators Market, By End-use
4.5 Medical Refrigerators Market Growth

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Blood Storage Centers and Blood Banks
5.2.1.2 Technological Advancements in Medical Refrigerators
5.2.2 Restraints
5.2.2.1 use of Refurbished Devices
5.2.3 Opportunities
5.2.3.1 Increasing Research & Development Investments in Medical Science by Government Organizations
5.2.3.2 High Life Expectancy
5.2.4 Challenges
5.2.4.1 High Cost of Equipment
5.2.4.2 Lack of Awareness About Medical Equipment

6 Medical Refrigerators Market, By Design Type
6.1 Introduction
6.2 Countertop Medical Refrigerator
6.3 Undercounter Medical Refrigerator
6.4 Flammable Material Storage Refrigerator
6.5 Explosion-Proof Refrigerator

7 Medical Refrigerators Market, By Door Type
7.1 Introduction
7.2 Single Door
7.3 Double Door

8 Medical Refrigerators Market, By Product Type
8.1 Introduction
8.2 Market Size and Projection
8.2.1 Blood Bank Refrigerators & Plasma Freezers to Hold the Largest Market Share Through 2024
8.3 Blood Bank Refrigerators & Plasma Freezers
8.3.1 Blood Banks Application to Drive the Blood Bank Refrigerators & Plasma Freezers Market
8.4 Laboratory Refrigerators & Freezers
8.4.1 North America to Lead the Laboratory Refrigerators & Freezers Market in 2019
8.5 Pharmacy Refrigerators & Freezers
8.5.1 Growth in the Pharmaceutical Industry to Drive the Market for Pharmacy Refrigerators & Freezers Market
8.6 Chromatography Refrigerators & Freezers
8.6.1 Rise in Research Activities in the Medical Field is Expected to Boost the Chromatography Refrigerators & Freezers Market
8.7 Enzyme Refrigerators & Freezers
8.7.1 Middle East & Africa to be Fastest Growing Region for Enzym Refrigerators & Freezers Market
8.8 Ultra-Low Temperature Freezers
8.8.1 Demand From Medical Laboratories and Research Institutes is Estimated to Drive the Market for Ultra-Low Temperature Freezers
8.9 Cryogenic Storage Systems
8.9.1 Increased R&D on DNA Modification Techniques is a Major Driver for the Growth of the Segment During Forecast Period

9 Medical Refrigerators Market, By End-use
9.1 Introduction
9.2 Market Size and Projection
9.2.1 Blood Banks Segment Accounted for the Largest Market Share in 2018
9.3 Blood Banks
9.3.1 High Demand for Safe Blood Due to High Prevalence of Blood Transfusion Cases is Driving the Demand for Blood Banks Segment
9.4 Pharmaceutical Companies
9.4.1 Growth in Research Activities in Developing Nations is Driving the Demand for the Market
9.5 Hospitals & Pharmacies
9.5.1 Infrastructural Advancements in the Healthcare Sector is Driving the Demand for the Segment
9.6 Research Institutes
9.6.1 Increasing Research & Development Activities in the Pharmaceutical Sector is Projected to Drive the Demand for Research Institutes End Use
9.7 Medical Laboratories
9.7.1 North America to Lead the Medical Laboratories Market in 2019
9.8 Diagnostic Centers
9.8.1 Middle East & Africa to be Fastest Growing Region for Diagnostic Centers Market

10 Medical Refrigerators Market By Region
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia-Pacific
10.5 South America
10.6 Middle East & Africa

11 Competitive Landscape
11.1 Overview
11.2 Competitive Landscape Mapping, 2019
11.2.1 Visionary Leaders
11.2.2 Innovators
11.2.3 Dynamic Differentiators
11.2.4 Emerging Companies
11.3 Competitive Benchmarking
11.3.1 Strength of Product Portfolio
11.3.2 Business Strategy Excellence
11.4 Market Ranking of Key Players
11.5 Competitive Scenario
11.5.1 New Product Launches
11.5.2 Expansions
11.5.3 Acquisitions
11.5.4 New Product Developments
11.5.5 Partnerships
11.5.6 Collaborations
11.5.7 Agreements

12 Company Profiles
12.1 Helmer Scientific
12.2 Vestfrost Solutions
12.3 Thermo Fisher Scientific Inc.
12.4 Felix Storch Inc.
12.5 Philipp Kirsch GmbH
12.6 Haier Biomedical
12.7 Follett LLC
12.8 PHC Holdings Corporation
12.9 LEC Medical
12.10 Zhongke Meiling Cryogenics Company Limited
12.11 Blue Star Limited
12.12 Other Companies
12.12.1 Migali Scientific
12.12.2 Standex
12.12.3 Fiocchetti
12.12.4 So-Low Environmental Equipment Co. Inc.
12.12.5 Aucma
12.12.6 Labcold
12.12.7 Temparmour Refrigeration
12.12.8 Indrel
12.12.9 Dulas
12.12.10 Godrej

For more information about this report visit https://www.researchandmarkets.com/r/wi9kyf

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