Biomedical Refrigerators and Freezers Market to Grow over $4 Billion by 2025 at a CAGR of around 4%

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According to a recent report published by Global QYResearch titled “Biomedical Refrigerators and Freezers Market (Types: Plasma Freezers, Blood Bank Refrigerators, Lab Refrigerators, Ultra Low Temperature Freezers, Shock Freezers; Application: Blood Banks, Pharmacies, Hospitals, Research Labs, Diagnostic Centers)”, the global market for biomedical refrigerators and freezers is estimated to grow at a significant rate of around 4% CAGR and reach the market value of over $4 billion by 2025.
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Blood bank refrigerators segment is largely driven by a sturdy growth in the number of blood banks in developed and developing countries and the presence of severe regulatory policies. Moreover, biomedical refrigerators and freezers are expected to witness increased demand from applications such as pharmacy segments, laboratory, and medical freezers. Increasing necessitates for stocking vaccines in precise and supreme storage conditions for efficient administration will prolong to rev up the use of biomedical refrigerators and freezers in healthcare business. Besides, medicines and blood transfusions, production of custom-made vaccines credited to growth of cellular therapy, which is further anticipated to contribute to the market growth.
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Regional Tracing 
Europe held a major share and is predicted to maintain its growth in biomedical refrigerators and freezers market throughout the forecast period owing to increasing investments by key manufacturing companies in the region. Currently, U.S. holds revenue share of nearly 70% in North American region. Growing incidences of infectious and chronic diseases, favorable government initiatives, and growing demand for personalized medicines drive the market growth. APAC will witness profitable growth through forecasting period due to developments in biotechnology and pharmaceutical industry, rising R&D expansion and expenditure strategies adopted by major manufacturers. Besides, advancement in clinical applications, cellular therapies management and patient blood management has created latent growth & opportunities in biomedical refrigerators and freezers market. Latin America currently holds a considerable share and ought to witness a good CAGR by 2025. Increasing plasma freezers installation coupled with pouring investments for research facilities and number of blood bank refrigerators will accelerate market growth in near future.
Key Players
Leading market players included in this report are Philipp Kirsch, Thermo Fisher Scientific, Aegis Scientific, Eppendorf, Haier Biomedical, Leibherr Group, Helmer Scientific, Panasonic Healthcare, and more.
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