BIOMEDICAL REFRIGERATORS MARKET ANALYSIS

Regional Analysis

Biomedical Refrigerators Market- Regional Analysis

North America holds the maximum market share, majorly attributed to presence of high quality standards and high expenses on hospital and healthcare infrastructure in the region. The U.S. spends major share of its GDP toward healthcare, with an aim to improve patient care, reduce the wastage of pharmaceutical and biological components. Growing prevalence of chronic diseases coupled with increasing geriatric population, is triggering research and development that requires appropriate biomedical storage of samples. This is significantly driving the number of blood transfusion procedures, consumption of various pharmaceutical products. This in turn, is boosting demand for biomedical refrigerators across all the end-use segments.

Emerging economies such as India, China, and Indonesia are increasingly boosting the expenditure on healthcare infrastructure and medical services. This results in Asia Pacific to emerge as a key medical tourism destination, with the government and private sectors increasingly investing significant resources to the reach the service quality standards adopted in the western regions.