Growth in geriatric population supports the Medical Refrigerator Market | Global Market Estimated to Grow at a CAGR of 3% till 2023

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The report on “Global Medical Refrigerator Market ” helps you to understand the market size, share, growth, trends, major companies performance data and market opportunities.

Global Medical Refrigerator Market Study:

Medical grade refrigerators are heavy-duty refrigerators and freezers of various sizes designed to meet specific demands, and to maintain medical equipment/vaccines/specimens at a constant temperature. They are used by medical professionals in hospital, research laboratories, crime labs, surgery centres and other medical facilities. The most proportion of Medical Refrigerator is used for hospital, and the sales proportion is about 36% in 2016. ultra-low temperature (ULT) freezers are insulated cabinets that maintain temperatures ranging from -70C to -80C. These freezers are primarily used in research laboratories and biomedical engineering facilities. Furthermore, blood bank refrigerators are medical equipment primarily used in blood banks. They maintain temperatures that range between +1C to +6C. Other various forms of refrigerators used have varied temperatures depending on their applications.


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Global Medical Refrigerator Market Size and Share Analysis:

The global medical refrigerator market was valued at $2.2 billion in 2016 and is estimated to grow at a CAGR of 3% till 2023. The major markets for this segment are North America, Asia Pacific, Europe and Latin America.  China is the largest supplier of Medical Refrigerators with a production market share of nearly 33.4% in 2016. North America is the second largest supplier, enjoying a production market share of nearly 28.3% in 2016. This number seems to be growing with increasing investments in research centres.

Medical treatments such as organ transplant, cellular therapy etc. are major factors that have made this a prominent market. Rise in government initiatives toward research activities and clinical trials has resulted in boosting the medical refrigerators market globally. Government organizations such as the Engineering and Physical Sciences Research Council (EPSRC), the Medical Research Council (MRC), and the Biotechnology and Biological Sciences Research Council (BBSRC) are supporting research activities in these areas and these factors are likely to increase the usage of biomedical refrigerators in order to store research samples such as DNAs, RNAs, and biological molecules.


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Furthermore, aging is associated with a large number of diseases and disorders, and elderly individuals often take more time to recover from these ailments. The geriatric population is more prone to common health conditions such as diabetes, cancer, heart problems, nerve issues, and organ system failure. Therefore, increase in geriatric population is anticipated to drive the growth of the global biomedical refrigerator market in the years ahead.

Some of the key Players covered in this Global Medical Refrigerator Market report are:

Key players operating in the global biomedical refrigerators and freezers market include Aegis Scientific, Inc., Eppendorf AG, Haier Biomedical, Leibherr Group, Panasonic Healthcare Co., Thermo Fisher Scientific, Inc., Terumo Corporation, Philipp Kirsch GmbH, and Helmer Scientific.


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