Biomedical Refrigerators and Freezers Market

freezers globally. In terms of rate of expansion, however, the segment of
laboratory/pharmacy/medical freezers will outpace the segment of plasma freezers through 2024.
The segment of laboratory/pharmacy/medical freezers will exhibit a 5.49% CAGR from 2016 to
2024.
This exhaustive report includes a 360° view of the Biomedical Refrigerators and Freezers
Market. Browse through this 167-page report to know what factors will shape the market
during the period 2016-2024
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Asia Pacific to Present Most Promising Growth Opportunities; North America to Remain Key
Contributor
Rising geriatric population, rising investments towards technological advancements in healthcare
infrastructure, and the flourishing medical tourism industry will collectively lead to vast growth
opportunities for the global biomedical refrigerators and freezers market in in Asia Pacific in the
next few years. The market will expand at the fastest CAGR of 5.84% among other key regional
markets through 2024. The region is expected to hold an 18% share in the global market by 2024.
However, North America will continue to hold the largest share in the market and witness only a
slight drop in its share in the global market by 2024. North America presently leads the market,
accounting for a 52% share in market’s overall valuation in 2015.
The region holds a dominant position in the global market on account of the highly developed
healthcare infrastructures, the presence of a large number of world’s leading biomedical companies,
and the vast life sciences research activities undertaken every year. The introduction and high rate
of adoption of technologically advanced products such as RFID-enabled equipment, multiple
compressor equipment also favor the overall growth of the biomedical refrigerators and freezers
market in North America.
Vendors Need to Focus on Development of Economic Products
The market features intense competition, which has further soared owing to the introduction of
technologically advanced and innovative products at a sustained pace in the market. High R&D
investments have compelled international companies to increase costs of products, somewhat
limiting their appeal to only to the developed regions. This factor has worked well in favor of
regional players, especially the ones operating in developing cost-sensitive economies such as Latin
America and Asia Pacific.
Some of the leading vendors in the market are Haier Biomedical, Eppendorf AG, Aegis Scientific,
Inc., Leibherr Group, Terumo Corporation, Philipp Kirsch GmbH, Panasonic Healthcare Co.,