The medical refrigerators market is projected to reach US$ 5,050. 93 million by 2028 from US$ 3,397. 48 million in 2021; it is expected to grow at a CAGR of 5. 8% from 2021 to 2028. The factors such as increasing demand for blood and blood components, technological advancements in medical refrigerators, and growing R&D activities to introduce new drug compounds.
New York, Jan. 06, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Medical Refrigerators Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type, Design Type, Door Type, Temperature Control Range, and End User, Volume, and Geography" - https://www.reportlinker.com/p06195615/?utm_source=GNW
Moreover, growing emphasis on temperature uniformity and energy-efficiency is expected to foster the market growth during the forecast period. However, the use of refurbished equipment and high costs associated with ultralow-temperature freezers hinder the growth of the medical refrigerators market. APAC countries are witnessing rise in the demand for medical refrigerators products. The restrictions imposed by countries in response to the recent COVID-19 outbreak have impacted ongoing clinical research. As these restrictions are now being lifted, the research activities are gaining momentum, which are likely to boost the demand for medical refrigerators in the coming years. In addition, with the predominant shift in focus toward conducting COVID-19 vaccination drives worldwide, the demand for these equipment has started growing at an unprecedented pace.
The global medical refrigerators market is segmented on the basis of product type, design type, door type, temperature control range, end user, and volume.Based on product type, the market is segmented into laboratory refrigerators and freezers, chromatography refrigerators and freezers, ultralow-temperature freezers, blood bank refrigerators and plasma freezers, cryogenic storage systems, pharmacy refrigerators and freezers, enzyme refrigerators and freezers, hospital refrigerators and freezers, shock freezers, and others.
The blood bank refrigerators and plasma freezers segment held the largest share of the market in 2020 and is anticipated to register the highest CAGR during 2021–2028.By design type, the market is segmented into explosion-proof refrigerators, undercounter medical refrigerators, countertop medical refrigerators, and flammable material storage refrigerators.
The countertop medical refrigerators segment held the largest market share in 2020.However, the undercounter medical refrigerators segment is estimated to register the highest CAGR during the forecast period.
The medical refrigerators market, based on door type, is segmented into single door and double door. The double door segment held the largest share of the market in 2020, whereas the single door segment is estimated to register the highest CAGR from 2021 to 2028. Based on temperature control range, the market is segmented into between 2 and 8, between 0 and -40, and under -40. The between 2 and 8 segment held the largest share of the market in 2020. However, the under -40 segment is anticipated to register the highest CAGR during the forecast period. Based on end user, the medical refrigerators market is segmented into hospitals and pharmacies, medical laboratories, blood banks, pharmaceutical companies, research institutes, diagnostic centers, and others. The blood banks segment held the largest share of the market in 2020. Further, it is anticipated to register the highest CAGR during the forecast period. Based on volume, the medical refrigerators market is segmented into below 50 Lts, 51-200 Lts, 201-400 Lts, 401-600 Lts, and 601 Lts and above. The 51-200 Lts and above segment would hold the largest market share in 2020. However, the market for the 601 Lts and above segment is expected to grow at a CAGR of 6.0% during the forecast period
The World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), and the International Society for Stem Cell Application are among the primary and secondary sources referred to while preparing the report on the medical refrigerators market.
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