European Biomedical Refrigerators & Freezers Market size is projected to reach USD 1.41 billion by 2028, according to a latest forecast report by Graphical Research.
The market has recorded a promising growth over the last few years, thanks to the upgradation of blood transfusion policies across the region. Recently, in July 2022, the EU proposed new rules aimed at harmonizing the frameworks for blood and organ donations and transplants. As the rules had been set over 20 years ago, safety and quality of these products have been a major concern for regional entities over the past few years. Companies are fulfilling the demand for custom solutions that cater to the diverse needs of hospitals, diagnostic centers, and research laboratories.
The rising number of research initiatives since the beginning of the COVID-19 health emergency are responsible for the surge in biomedical refrigerators & freezers sales. Adding to the number of patients suffering from autoimmune conditions, cancer, and musculoskeletal diseases, the pandemic prompted leading healthcare providers to strengthen their laboratory infrastructure to support high patient footfall and new drug discovery.
According to the statistics published by the WHO, over 40% of global blood donations are collected across high-income countries. Since the number of surgical procedures across the European countries has been rising, hospitals and other healthcare organizations have been ensuring a reliable and adequate supply of safe blood by installing high-performance biomedical refrigerators. Installation of a combined freezer and refrigerator ensures that a range of special materials, including blood plasma, vaccines, and biological materials, are effectively stored.
The plasma freezers segment will exceed USD 430 million by 2028, with a strong presence of numerous plasma collection centers across the region, delivery of lifesaving therapies has become easy and safe. The number of individuals diagnosed with life-threatening immune disorders such as Alpha 1-Antitrypsin Deficiency (AATD) and Hereditary Angioedema (HAE), neurological conditions, and bleeding disorders such as hemophilia is growing in Europe.
With the increase in disease prevalence, the demand for plasma-derived medicinal products (PDMPs) has increased over the last decade. In many instances, PDMPs are the only viable treatment for rare conditions. The EU has been stimulating plasma donations amongst regional donors by offering attractive compensation and conducting effective outreach campaigns.
Browse detailed statistical insights from the report, “Europe Biomedical Refrigerators and Freezers Market Forecast 2028 By End-use (Blood Banks, Pharmacies, Hospitals, Research Labs, Diagnostic Centers), By Product (Plasma Freezers, Blood Bank Refrigerators, Lab Refrigerators, Lab Freezers, Ultra Low Temperature Freezers, Shock Freezers), Research Report, Country Outlook (Germany, UK, France, Spain, Italy, Russia, Ukraine, Poland, Switzerland, Belgium, Greece, Czech Republic, Netherlands, Sweden), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The research lab end-user segment will record a CAGR of over 6% till 2028, with increasing research funds and initiatives in the region. Spain, Germany, and the U.K. are expected to be some of the leading investment hubs in life sciences sector. Several top drugmakers in the region have been ramping up their research facilities to address the changing patient needs.
In April 2022, for instance, Germany-based drugmaker Boehringer Ingelheim announced that it will allocate over USD 7.6 billion, toward the adoption of innovative technologies. As private and public entities in the healthcare ecosystem continue to make significant investments toward the delivery of high-quality refrigeration services for hospitals. Expansion of biopharma capacities has been a major priority for numerous regional blood banks, pharmacies, and hospitals.
The European biomedical refrigerators & freezers market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2017 to 2028, for the following segments:
Europe Market, By Product
- Plasma Freezers
- Blood Bank Refrigerators
- Lab Refrigerators
- Lab Freezers
- Ultra-Low Temperature Freezers
- Shock Freezers
Europe Market, By End-use
- Blood Bank
- Research Labs
- Diagnostic Centers
The above information has been provided for the following countries: