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North America Medical Refrigerators Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type, Design Type, Door Type, Temperature Control Range, and End User

North America Medical Refrigerators Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type, Design Type, Door Type, Temperature Control Range, and End User

  • July 2021
  • 155 pages
  • ID: 6134743
  • Format: PDF
  • The Insight Partners

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The North America medical refrigerators market is expected to reach US$ 1957.24 million by 2028 from US$ 1,300.22 million in 2021; it is estimated to grow at a CAGR of 6.2% from 2021 to 2028. The market growth is attributed to 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. However, growing use of refurbished equipment and high costs associated with ultralow-temperature freezers restrict the market growth.
Rising occurrence of hematological disorders and surge in the number of accidents have propelled the need of plasma, as well as plasma fractionation operations, which is magnifying the demand for plasma freezers and refrigerators at blood banks.Blood and blood components can be stored safely in laboratory freezers by adhering to strict regulations.

Blood bank refrigerators have evolved to become more than just reliable cold storage devices.These refrigeration units are equipped with compressors and insulated cabinets, and they provide advanced temperature control, storage, and warning alarm features, among others.

The increasing demand for safe blood and blood components for transfusion has further triggered the adoption of ULT freezers for secure storage at blood banks. The WHO has imposed strict guidelines for the storage of these entities, which also contributes to the medical refrigerators market growth.
The rapid spread of COVID-19 across the world has led researchers to redirect their work toward exploring effective treatments for its management.Moreover, the medical refrigerator market players are striving to fulfil the requirements in the organizations working on this issues.

In December 2020, Danby Appliances, one of the leading manufacturers and distributors of compact appliances in North America, announced new line of -122.8°F (-80°C) freezers, to contribute to the fight against COVID-19. With the recent development of COVID-19 vaccinations going to trial, several vaccine candidates, including Pfizer and Moderna, have disclosed the requirement for the vaccine storage to be at low temperatures. These factors are boosting the medical refrigerators market growth in North America.
The North America medical refrigerators market, by product type, 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 in the market during the forecast period.
The North America medical refrigerators market, by design type, 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 share of the market in 2020.

However, the undercounter medical refrigerators segment is anticipated to register the highest CAGR in the market during the forecast period.
The North America medical refrigerators market, by door type, is segmented into single door and double door.The double door segment held a larger share of the market in 2020.

However, the single door segment is anticipated to register a higher CAGR in the market during the forecast period.
The North America medical refrigerators market, by temperature control range, is segmented into between 2 and 8, between 0 and -40, and under -40.The between 2 and 8 segments held the largest share of the market in 2020.

However, the under -40 segment is anticipated to register the highest CAGR in the market during the forecast period.
The North America medical refrigerators market, by end user, 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 in the market during the forecast period.
A few of the primary and secondary sources associated with this report on the North America medical refrigerators market are the International Society for Stem Cell Application (ISSCA), International Stem Cell Corporation (ISCO) and Centers for Disease Control and Prevention (CDC).

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