Asia Pacific Biomedical Refrigerators and Freezers Market size crossed USD 670 million in 2021 and is poised to exhibit a CAGR of 6% between 2022 and 2028.

The market growth can be credited to rapid technological breakthroughs and growing drug development activities. A range of laboratory freezers and refrigerators is utilized during drug discovery processes for the long-term preservation of biological reagents and samples. With the escalating investment in pharma research and technology centers, the region will emerge as a lucrative revenue pocket for the industry.

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Likewise, the number of elderly people who are susceptible to chronic and infectious diseases is witnessing an increase in the Asia Pacific, which is boosting the rate of drug discoveries, plasma collections, and blood transfusions.

Several APAC countries such as Thailand are serving as popular medical tourism destinations. Rising healthcare expenses have also accelerated the development of diagnostic centers, laboratories, and hospitals, resulting in greater demand for biomedical freezers and refrigerators in the region.

Asia Pacific Market, By Product

In clinical and research environments, plasma and other blood components are utilized for critical hematology tests and life-saving transfusions. The rise of apheresis and blood donation, alongside the growing awareness about the benefits of storing plasma products at suitable temperatures.

Asia Pacific Market, By End-use

The Asia Pacific biomedical refrigerators and freezers market from the hospitals segment will reach USD 230 million revenue by 2028, due to the increasing preference for hospitals over PHC (primary healthcare) institutions for chronic disease treatments.

According to the World Economic Forum’s data, non-communicable diseases claim the lives of over 40 million people every year, of which, 8.5 million are from Asia. These factors will likely escalate the demand for biomedical refrigerators and freezers across hospital settings in the region.

Asia Pacific Market, By Country

China biomedical refrigerators and freezers market will witness remarkable growth through 2028, as a result of the increasing number of elderly people diagnosed with immunological and chronic diseases. Governments are also introducing varied initiatives to boost blood donations.

Competitive Industry Landscape

Major players involved in the Asia Pacific biomedical refrigerators and freezers market include Thermo Fisher Scientific, Panasonic Healthcare, Liebherr International, Helmer Scientific, Haier Biomedical, Follett, Eppendorf, Binder, B Medical, Azbil, and Arctiko, among others. These companies are incorporating strategies such as product line expansions, collaborations, and acquisitions to enhance their profits and geographical footprint.