Blood Bank Refrigerators Market to grow by USD 403.05 million from 2022 to 2027 | North America to account for 41% of market growth- Technavio

NEW YORK, Nov. 27, 2023 /PRNewswire/ — The blood bank refrigerators market is expected to grow by USD 403.05 million from 2022 to 2027. In addition, the momentum of the market will progress at a CAGR of 6.29% during the forecast period, according to Technavio Research. The market is segmented by product (standard electric refrigerators, solar-powered refrigerators, and ice-lined refrigerators), end-user (hospitals and diagnostic centers, stand-alone blood bank centers, and others), and geography (North America, Europe, Asia, and the Rest of World (ROW)). North America is estimated to contribute 41% to the growth of the global market during the forecast period. The increasing incidence of traffic accidents, sports injuries, rapid growth in different surgical procedures, increased blood donations, and the growing prevalence of a variety of cancers are some of the main factors that have significantly contributed to the growth of the region’s market.

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Company Profile:

Aegis Scientific, ARCTIKO AS, Azenta Inc., BioLife Solutions Inc., Calibre Scientific Inc., Cardinal Health Inc., Climatic Testing Systems Inc., Eppendorf SE, Haier Smart Home Co. Ltd., LabRepCo LLC, Liebherr International Deutschland GmbH, Migali Industries Inc., Perley Halladay Associates Inc., PHC Holdings Corp., Philipp Kirsch GmbH, So Low Environmental Equipment Co. Inc., Stericox India Pvt. Ltd., The Middleby Corp., Thermo Fisher Scientific Inc., and Trane Technologies Plc

Aegis Scientific – The company offers blood bank refrigerators such as GL RG 50M glacier series, GL RG 25M glacier series, and GL RF glacier series.

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Blood Bank Refrigerators Market: Segmentation Analysis

The standard electric refrigerators segment is estimated to witness significant growth during the forecast period. The growth is due to its easy availability when compared to solar-powered and ice-lined refrigerators. 

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Blood Bank Refrigerators Market: Market Dynamics

Key Driver

• Rise in the number of road accidents and sports injuries
• Rising number of hospitals and blood banks
• Increasing number of surgical, dialysis, and blood transfusion procedures

The increasing adoption of surgeries due to road accidents and sports injuries is a key factor driving the market growth. Some of the injuries can lead to dislocations or high blood loss, thus making it essential for patients to undergo surgeries requiring the use of stored blood. Patients are increasingly willing to undergo surgery for correction of dislocation or repair of blood vessels. 

The presence of value-added software and hardware products is a primary trend shaping the market growth. Identify key trends, drivers, and challenges in the market. Download a sample to gain access to this information.

Related Reports:

The Life Sciences Analytics Market size is estimated to grow by USD 7,830.57 million at a CAGR of 12.02% between 2023 and 2028. 

The RFID blood refrigerator and freezer market size is estimated to grow by USD 307.62 million at a CAGR of 16.82% between 2022 and 2027. 

What are the key data covered in this blood bank refrigerators market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the blood bank refrigerators market between 2022 and 2027.
• Precise estimation of the blood bank refrigerators market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the blood bank refrigerators market across North America, Europe, Asia, and ROW
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of blood bank refrigerator market companies.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio