Biomedical refrigerators involve the equipment that can store biological samples such as blood and its derivatives, biological reagents, vaccines and medicines, along with RNA and DNA samples, for a sufficiently long period of time. The RNA and DNA samples can be stored in the temperature range of -70°C to -80°C, and even lower; while vaccines and plasma products can be stored in plasma freezers between the temperatures -30°C to -40°C.
The global market for biomedical refrigerators and freezers is expected to grow at an appreciable rate in the coming years, on account of multiple factors such as growing prevalence of chronic diseases, the increase in demand for storing biological products, along with blood samples, blood reagents, vaccines, DNA samples and other chemicals. The CDC issues guidelines and specifications for the proper vaccine storage, failing which they would lose their potency, which would result in little to no immune response from the recipient. The market has also grown rapidly out of the need to avoid vaccine wastage; according to the NHS, £5 million worth of vaccines were wasted in 2017 alone, with refrigeration failure and storing or transporting out of the cold chain being two of the major causes.
With the current global COVID-19 pandemic, the testing of samples has become a critical and time intensive process, with the specimen collection regarding SARS CoV-2 calling for proper handling and storage. As they are required to be kept at low temperatures, it is expected that there would be a high demand for biomedical refrigerators and freezers in the coming weeks and months. Moreover, the most-affected regions such as North America, Western Europe and Asia Pacific would be seeing an increase in demand for equipment at medical institutions, which is a trend that would positively affect the biomedical refrigerators and freezers market.
Based on product type, the biomedical refrigerators and freezers market can be segmented into blood bank refrigerators, shock, plasma and ultra-low temperature freezers, laboratory/pharmacy/medical freezers, laboratory/pharmacy/medical refrigerators. Plasma freezers segment is expected to show substantial growth in the coming years, as they are used in the process of therapeutic plasma exchange (plasmapheresis), which according to the European Society of Hemapheresis (ESFH), is the most frequently performed apheresis technique, being used in the treatment of side effects of small cell lung and breast cancers, as well as colon cancer and Hodgkin’s disease.
In terms of end-use, the biomedical refrigerators and freezers market is segmented into hospitals, pharmacies, laboratories, diagnostic centers, and blood banks. Blood banks emerged as the biggest end-use segment, due to the rising awareness among consumers regarding blood donations and government initiatives to promote them. Moreover, there are organizations in place to monitor the storage of immunobiologics and blood components, such as the Center for biologics evaluation and research (CBER) in the US. The pharmacy segment is anticipated to show fastest growth in the near future, on account of the rising number of adverse reactions and increasing wastage of vaccines due to thermal shock.
According to the American Red Cross organization, the U.S. sees 21 million blood components being transfused each year. However, the current exceptional scenario created by the coronavirus pandemic has led to cancellation of blood drives, resulting in shortage of blood stored. Moreover, the country requires 36,000 units of red blood cells, 7000 units of platelets, and 10,000 units of plasma every day. With the rising need for blood transfusions, it is also required that the units be properly stored in order to avoid the risk of blood transfusion errors. These factors have led to the growth of the blood bank segment, while it is expected to grow at a substantial rate in the near future.
Region-wise, North America, and more particularly the U.S., holds substantial share in the biomedical refrigerators and freezers market, on account of the high expenditure on hospitals and healthcare infrastructure in the region, as well as the high prevalence of chronic diseases that has led to an increasing number of blood transfusion procedures. Another region that is expected to contribute significantly to the market is Asia Pacific, with the development of healthcare infrastructure in rapidly emerging economies such as India, China and Indonesia expected to aid in the regional market growth by 2024.
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Recent Developments
In March 2020, PHC Corporation of North America announced that it would accelerate the delivery of critical equipment to the facilities that are working on COVID-19 diagnostics, clinical care, vaccine development and research. The products include high performance refrigerators and biomedical freezers, ultra-low temperature storage freezers, CO2 and multi-gas CO2/O2 incubators, and class II, type A2 biological safety cabinets.
In February 2020, Haier Biomedical donated a solar direct drive vaccine fridge to Abuja Primary Healthcare in Nigeria. The fridge provides temperature protection, security and safety for vaccine storage. The product can be efficiently used even during power shortages by maintaining the right temperature for vaccines.
In October 2019, the US Environmental Protection Agency recognized the Helmer Scientific GX Solutions laboratory, pharmacy, and blood bank single and double door upright refrigerators, as meeting the ENERGY STAR® energy efficiency requirements for High Performance Laboratory Refrigerators. The products are powered by the OptiCool™ technology.
About Grand View Research
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