Introduction:

Biomedical Refrigerators and Freezer Market was valued at US$ 3.9 billion in 2024 and is projected to grow at a CAGR of 7.0% to reach US$ 7.2 billion by 2034.

Biomedical refrigerators and freezer are medical storage devices that are used to preserve biological materials, including blood derivatives, vaccines, blood, biological reagents, pharmaceuticals, medications, flammable compounds, and samples of deoxyribonucleic acid (DNA) and ribonucleic acid (RNA). These freezers are set up to properly keep biological samples and medications by meeting the specified temperature standards set by the CDC. Various uses are available for biomedical freezers and refrigerators depending on the temperature range. Biomedical refrigerators and freezers, in contrast to conventional commercial refrigeration equipment, contain more accurate temperature controls, alarm systems for security and monitoring, and frequently incorporate elements that reduce temperature changes to protect the contents kept within.

The growing need for biomedical refrigerators and freezer from end-use industries for the preservation of vaccines, blood, and customized medications is a factor propelling the worldwide biomedical freezers and refrigerators market. Furthermore, the adoption of refrigerators and freezers in research and educational institutions is growing due to the aging population and an increase in research and development activities in the field of medical science. This is another element that is anticipated to help the target market expand in the near future. Additionally, it is projected that the worldwide market would grow during the forecasting period due to a rise in research efforts in research institutes and the pharmaceutical industries as a result of the increased incidence of chronic illnesses.

The high cost of the equipment and the extended lifespan of the gadgets are other major obstacles facing this business. Extended lifespan of gadgets lowers the frequency of purchases made by end users. Manufacturers of biomedical freezers and refrigerators using green technology are anticipated to find opportunities in the biomedical freezer and refrigerator industry.

Biomedical Refrigerators and Freezer Market Key Drivers:

Growing need for preserving samples

• The market for biomedical refrigerator freezers has expanded significantly due in large part to the rising need for storage solutions to maintain biological samples needed for research and clinical trials. The need for specialized biomedical refrigeration systems will remain high in the upcoming years due to the ongoing emphasis on vaccination programs, which include routine vaccinations and responses to newly discovered infectious disorders. The market for biomedical refrigerators and freezer for cold storage is anticipated to grow gradually with the potential for new immunizations and booster shots.

It is anticipated that the need for precise and specific storage conditions would rise in response to ongoing advancements in biopharmaceuticals, gene therapies, and tailored medicine. Biomedical freezers and refrigerators are expected to play a significant part in maintaining the quality of novel medications, which will propel market expansion.

Technological advancements in the medical sector

• Throughout the projected period, the biomedical refrigerators and freezers market will increase due to technological advancements in medical freezers. Technological developments have enhanced the efficiency and functionality of biomedical freezers and refrigerators with features like IoT integration, smart monitoring, and energy-efficient features. Moreover, over the projection period, enhanced compressor, automatic cascade refrigeration, and circulation systems will all benefit company expansion. The company's emphasis on creating cutting-edge and inventive technologies will propel the industry's expansion.

Biomedical Refrigerators and Freezer Market Restrains:

High cost of equipment

• Small hospitals, clinics, and startups may find it difficult to afford the pricey biomedical refrigerators and freezers, even if the need for these items is rising globally. Because of this, a lot of institutions decide to buy old refrigeration systems.

Thus, a major impediment to market development is the high cost of equipment combined with a shortage of skilled labor. Further factors that might hinder the biomedical refrigerator and freezer industry's future growth include the prevalence of several local rivals selling lower-priced goods and a growing trend worldwide to use refurbished freezer equipment since it is less expensive.

Biomedical Refrigerators and Freezer Market Opportunities:

Incorporation of safety and data integrity features

• Biomedical refrigeration is the century's most pressing requirement. Additional technical developments with practical applications, such as blockchain technology, are emerging quickly. Particularly with regard to ensuring the integrity and security of data related to sample storage. Companies are implementing hybrid cloud solutions for data storage and analytics related to temperature monitoring and equipment performance.
• By incorporating robotic systems for sample handling into biomedical refrigeration units, businesses are concentrating on offering automated solutions, reducing errors made during human handling, and raising overall operating efficiency.

Biomedical Refrigerators and Freezer Market is segmented based on Type, End-User and region:

Type Insights:

• Blood Bank Refrigerators:

Blood Bank Refrigerators are essential for storage of samples like blood and blood components like RBCs, WBCs or platelet concentrates.

• Laboratory Refrigerators:

Laboratory refrigerators are often used in the research laboratories and medical facilities for the storage of different samples like buffers, master mixes, media and broths, etc.

• Plasma Freezers:

Plasma freezers are special designed for the safe storage of plasma which is extracted from the blood and is stored for further examination.

• Ultra-Low Freezers:

Ultra-low freezers are specially build freezers to store samples at a very low temperature or those samples which are extremely sensitive to heat.

• Laboratory Freezers:

Laboratory freezers have temperatures ranging till -80 degree Celsius. These freezers are used for lab samples which require freezing temperatures for storage.

• Shock Freezers:

Shock freezers are used for extremely sensitive samples which need rapid freezing to maintain and preserve their integrity so that the components don’t degenerate easily. 

• Cryogenic Storage Systems:

Cryogenic Storage Systems store samples at ultra-low temperatures with the help of cooling agents like liquid nitrogen or other cryogenic gases.

Among the segments mentioned above the one that dominated the market the most was the plasma freezers segment due to the rising prevalence of chronic diseases including hemophilia and immunological disorders that require plasma-derived treatment. These freezers are useful for storing the components of plasma that are needed to treat various illnesses.

End-User Insights:

• Hospitals:

Biomedical refrigerators and freezers are commonly found in hospitals as they serve the function of storing blood and blood component samples for diagnosis purposes. Medications that cannot be stored at room temperature are also stored in these refrigerators.

• Pharmacies:

Pharmacies require biomedical refrigerators and freezers for the storage and preservation of vaccines, medicines and other pharmaceutical products which require low temperature to function.

• Diagnostic Centres:

Diagnostic centers require these freezers to store different biophysical samples extracted from the patients like blood and plasma samples, urine samples, etc.

• Research Laboratories:

Biomedical refrigerators and freezers are used in research laboratories to preserve and maintain research samples and reagents for further research activities.

• Blood Banks:

Blood Banks even need biomedical refrigerators and freezers for storing blood samples and maintaining them for transfusion whenever required.

• Others

Others include different healthcare facilities and institutions with specialized storage needs and requirements like maintaining biopsy samples, reagents, stains, etc.

Among the segments mentioned above the one that dominated the market the most was the Blood Banks segment due to the growing number of blood banks in both developed and emerging nations. The increased need for blood transfusions has aided in the development of blood-related treatments and raised awareness of the value of blood donation.

Regional Insights:

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Biomedical Refrigerators and Freezer Market Regional Insights

• North America market is estimated to witness a significantly high revenue share over the forecast period, due to the rise in different illnesses and the increased need for biological sample storage resulting from research activities.
• Asia Pacific market is estimated to witness fastest revenue share because there are more healthcare facilities, blood banks, and blood donation efforts in the region, as well as more market-growth-oriented regulations in place. Growing healthcare spending stimulates the demand for biomedical refrigerators and freezers through increased travel to emerging nations.
• Europe market finds lucrative opportunities due to their established healthcare system and research facilities which provide profitable prospects that drive market expansion.
• Latin America market is an emerging market due to the increase in R&D efforts and the developing understanding of the effective preservation of blood and other diagnostic samples.
• Middle East & Africa market is in its developmental stages Because of rising healthcare costs and a changing research landscape. The market in the area is also being driven by an increased focus on immunization campaigns and healthcare system upgrades.

Report Scope:

Attribute	Details
Market Size 2024	US$ 3.9 billion
Projected Market Size 2034	US$ 7.2 billion
CAGR Growth Rate	7.0%
Base year for estimation	2023
Forecast period	2024 – 2034
Market representation	Revenue in USD Billion & CAGR from 2024 to 2034
Market Segmentation	By Type - Blood Bank Refrigerators, Laboratory Refrigerators, Plasma Freezers, Ultra Low Freezers, Laboratory Freezers, Shock Freezers, and Cryogenic Storage Systems. By End-User - Hospitals, Pharmacies, Diagnostic Centers, Research Laboratories, Blood Banks, and Others.
Regional scope	North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Biomedical Refrigerators and Freezer Market report based on Type, End-User and region:

Biomedical Refrigerators and Freezer Market, By Type:

• Blood Bank Refrigerators
• Laboratory Refrigerators
• Plasma Freezers
• Ultra-Low Freezers
• Laboratory Freezers
• Shock Freezers
• Cryogenic Storage Systems

Biomedical Refrigerators and Freezer Market, By End-User:

• Hospitals
• Pharmacies
• Diagnostic Centres
• Research Laboratories
• Blood Banks
• Others

Biomedical Refrigerators and Freezer Market, By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating the Biomedical Refrigerators and Freezer Market includes, Aegis Scientific, Inc., Arctico Holdings, LLC, ThermoFisher Scientific, Inc., Binder GmbH, BioMedical Solutions, Inc., Bionics Scientific Technologies (P) Ltd., Standex International Corporation, Desmon S.p.A, Eppendorf AG, and Froilabo SAS.

Recent Development:

• In February 2023, PHC Corporation of North America supplier of the PHCbi brand of cell preservation and growth products for the North American and Latin American markets announced the launch of the PHCbi brand VIP ECO SMART ultra-low temperature freezer series, for use in medical facilities, universities, and pharmaceutical companies. With the goal of providing better energy-saving performance, security, and usability, this new series expands on PHCbi's long tradition of producing inventive and dependable ultra-low temperature freezers.

• In October 2023, Haier Biomedical unveiled a new line of energy-efficient TwinCool frequency conversion ULT freezers for use in clinical research, public health, and pharmaceutical labs. In order to keep samples safe and secure while reducing environmental consequences, this sample storage system incorporates a number of innovative technologies, such as frequency converter compressors for low power usage and a dual refrigeration system.

• Aegis Scientific, Inc.
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Arctico Holdings, LLC
• ThermoFisher Scientific, Inc.
• Binder GmbH
• BioMedical Solutions, Inc.
• Bionics Scientific Technologies (P) Ltd.
• Standex International Corporation
• Desmon S.p.A
• Eppendorf AG
• Froilabo SAS

 “*” marked represents similar segmentation in other categories in the respective section.

1. Research Objective and Assumption
   • Preface
   • Research Objectives
   • Study Scope
   • Years Considered for the study
   • Assumptions
   • Abbreviations
2. Research Methodology
   • Research data
   • Primary Data
     • Primary Interviews
     • Primary Breakdown
     • Key data from Primary Sources
     • Key Thickness Insights
   • Secondary Data
     • Major Secondary Sources
     • Secondary Sources
   • Market Estimation
   • Top-Down Approach
     • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
   • Bottom-Up Approach
     • Approach for estimating market share by Bottom-up Analysis (Demand Side)
   • Market Breakdown and Data Triangulation
   • Research Assumptions
3. Market Preview
   • Executive Summary
   • Key Findings—Global Outlook for medical carts Strategies
     • Key Questions this Study will Answer
     • Market Snippet,  By Type
     • Market Snippet, By End-User
     • Market Snippet, By Region
   • Opportunity Map Analysis
   • Executive Summary—3 Big Predictions
4. Market Dynamics, Regulations, and Trends Analysis
   • Market Dynamics
     • Drivers
     • Restrains
     • Market Opportunities
     • Market Trends
   • DR Impact Analysish
   • PEST Analysis
   • Porter’s Five Forces Analysis
   • Opportunity Orbit
   • Market Investment Feasibility Index
   • Macroeconomic Factor Analysis

Market Segmentation,  By Type, Forecast Period up to 10 Years, (US$ Bn)

• Overview
  • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Blood Bank Refrigerators
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Laboratory Refrigerators
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Plasma Freezers
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Ultra Low Freezers
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Laboratory Freezers
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Shock Freezers
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Cryogenic Storage Systems
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, By End-User, Forecast Period up to 10 Years, (US$ Bn)

• Overview
  • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Hospitals
  • Buildings Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Pharmacies
  • Buildings Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Diagnostic Centers
  • Buildings Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Research Laboratories
  • Buildings Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Blood Banks
  • Buildings Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Others
  • Buildings Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Global Market, By Region, Forecast Period up to 10 Years, (US$ Bn)

• Overview
  • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Regional Trends
• North America
  • Market Size and Forecast (US$ Bn),  By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By End-User, Forecast Period up to 10 Years

• Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
  • U.S.
  • Canada
• Europe
  • Market Size and Forecast (US$ Bn),  By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By End-User, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • UK
    • France
    • Germany
    • Russia
    • Italy
    • Rest of Europe
• Asia Pacific
  • Market Size and Forecast (US$ Bn),  By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By End-User, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • India
    • Japan
    • South Korea
    • China
    • Rest of Asia Pacific
• Latin America
  • Market Size and Forecast (US$ Bn),  By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By End-User, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
  • Market Size and Forecast (US$ Bn),  By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By End-User, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
• GCC
• Israel
• South Africa
• Rest of Middle East

1. Competitive Landscape
   • Heat Map Analysis
   • Market Presence and Specificity Analysis
2. Company Profiles 

• Aegis Scientific
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

• Arctico Holdings, LLC
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• ThermoFisher Scientific, Inc
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Binder GmbH
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• BioMedical Solutions, Inc
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Bionics Scientific Technologies (P) Ltd
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

The Last Word

• Future Impact
• About Us
• Contact