BIOMEDICAL REFRIGERATORS MARKET ANALYSIS

Market Challenges And Opportunities

Escalating demand for cellular therapies, blood transfusions, organ transplant, and biopharmaceuticals is stimulating growth of the biomedical refrigerators market. In addition, increasing biomedical R&D activities is boosting demand for biomedical refrigerators, to store biological samples. However, presence of large number of local players and increasing use of renewed equipment are some of the factors hampering growth of the global biomedical refrigerators market. Rampant advancements in technology and infrastructural upgrade of clinics, hospitals, and research laboratories, is expected to fuel growth of the global biomedical refrigerators market over the forecast period.

Factors such as increasing importance on energy-efficient refrigerators are driving the prospects for growth of the biomedical refrigerators market. A major challenge faced by the market includes reduction in energy consumption. According to the current standards, refrigerants are required to have minimum global warming potential, an ozone depleting potential of zero, and be nontoxic as well as inflammable. It is highly challenging to adhere to these standards while maintaining a stable temperature control. Therefore, manufacturers are focusing on developing technologies to maximize efficiency and temperature consistency, while minimizing heat and energy consumption. Improvement of healthcare infrastructure due to the increasing support from government and industry participants to provide technical and financial assistance in procurement of biomedical refrigerators is a positive trend witnessed in the market. These factors in turn, are expected to boost growth of the market in the near future.