Lucintel's latest market report analyzed that medical refrigerator provides attractive opportunities in blood banks, pharmaceutical companies, hospitals & pharmacies, research institutes, medical laboratories, and diagnostic centers. The medical refrigerator market is expected to reach $XX billion by 2028 with a CAGR of 6% to 8%. In this market, ultra-low-temperature freezer is the largest segment by product type, whereas blood banks is largest by end use industry. Growing use of medical refrigerator for preserving insulin, increasing number of government initiatives, and increasing use of green technologies in medical refrigerator & freezers provides strategic growth path in this market.
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Based on product type, the medical refrigerator market is segmented into blood bank refrigerator & plasma freezer, laboratory refrigerator & freezer, pharmacy refrigerator & freezer, chromatography refrigerator & freezer, enzyme refrigerator & freezer, ultra-low-temperature freezers, and cryogenic storage systems. The ultra-low-temperature freezer segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to because it is used for long-term storage in laboratories, universities, hospitals, or scientific research facilities, advancements in drug discovery and development, as well as an increase in genomics research activities.
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The Medical Refrigerator Market is marked by the presence of several big and small players. Some of the prominent players offering medical refrigerator include Aucma, Blue Star Limited, Dulas Ltd., Follett LLC, Haier Biomedical, Helmer Scientific Inc., HMG India., Standex International Corporation., Thermo Fisher Scientific Inc., and Vest frost Solutions.
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