North America Medical and Lab Refrigerator Market Growth Opportunities and Forecast by 2027
North America Medical and Lab Refrigerator Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product Type (Blood Bank Refrigerators, Laboratory Refrigerators, Pharmacy Refrigerators, Enzyme Refrigerators, Others); End User (Blood Banks, Pharmaceutical Companies, Hospitals and Pharmacies, Research Institutes, Others), and Geography
- Report Date : Nov 2020
- Report Code : TIPRE00016227
- Category : Life Sciences
- Status : Published
- Available Report Formats :
- No. of Pages : 98
The North America Medical and Lab Refrigerator is expected to reach US$ 647.19 million in 2027 from US$ 497.92 million in 2019; it is estimated to grow at a CAGR of 3.3% from 2020 to 2027.
The growth of the North America Medical and Lab Refrigerator market is mainly attributed to the growing prevalence of cancer and initiatives taken by global health organization.
The US is the biggest market for cancer vaccinations in North America. Numerous vendors are operating in the medical-grade refrigerator market; thus, the medical facilities have a wide variety of options to support their expanding use of these refrigerators. The use of these refrigerators is further anticipated to grow, both in terms of facilities as well as in terms of units. The demand is further expected to accelerate as several medical facilities are striving to ensure the proper storage conditions of their medicines throughout the facilities.
US Medical and Lab Refrigerator Market Revenue and Forecast to 2027 (US$ Million)
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
NORTH AMERICA MEDICAL AND LAB REFRIGERATOR – MARKET SEGMENTATION
By Product Type
- Blood Bank Refrigerators
- Laboratory Refrigerators
- Pharmacy Refrigerators
- Enzyme Refrigerators
- Others
By End User
- Blood Banks
- Pharmaceutical Companies
- Hospitals and Pharmacies
- Research Institutes
- Others
By Country
- US
- Canada
- Mexico
Company Profiles
- ZhongkeMeiling Cryogenics Company Limited
- Felix Storch, Inc
- Follett LLC
- Helmer Scientific Inc.
- Haier Biomedical
- Lec Medical
- Philipp Kirsch GmbH
- Thermo Fisher Scientific Inc.
- Vestfrost Solutions
- Blue Star Limited
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, End User, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
2.1 Coverage
2.2 Secondary Research
2.3 Primary Research
3. Medical and Lab Refrigerator Market Landscape
3.1 Market Overview
3.2 PEST Analysis
3.2.1 North America
3.3 Ecosystem Analysis
3.4 Expert Opinion
4. Medical and Lab Refrigerator Market – Key Market Dynamics
4.1 Market Drivers
4.1.1 Growing Demand for Blood Storage Centers and Blood Banks
4.1.2 Increasing Number of Accidents, Surgery Interventions, and others
4.2 Market Restraints
4.2.1 Increasing Preference for Refurbished Equipment
4.3 Market Opportunities
4.3.1 Increasing Research & Development Investments in Medical Science by Government Organizations
4.4 Future Trends
4.4.1 Technological Advancements in Medical Refrigerators
4.5 Impact Analysis of Drivers and Restraints
5. Medical and Lab Refrigerator Market Analysis – By Product Type
5.1 Overview
5.2 Medical and Lab Refrigerator Market, By Product Type (2019 and 2027)
5.3 Blood Bank Refrigerators
5.3.1 Overview
5.3.2 Blood Bank Refrigerators: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
5.4 Laboratory Refrigerators
5.4.1 Overview
5.4.2 Laboratory Refrigerators: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
5.5 Pharmacy Refrigerators
5.5.1 Overview
5.5.2 Pharmacy Refrigerators: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
5.6 Enzyme Refrigerators
5.6.1 Overview
5.6.2 Enzyme Refrigerators: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
5.7 Others
5.7.1 Overview
5.7.2 Others: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
6. Medical and Lab Refrigerator Market Analysis – By End-user
6.1 Overview
6.2 Medical and Lab Refrigerator Market, By End-user (2019 and 2027)
6.3 Blood Bank
6.3.1 Overview
6.3.2 Blood Bank: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
6.4 Pharmaceutical Companies
6.4.1 Overview
6.4.2 Pharmaceutical Companies: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
6.5 Hospitals and Pharmacies
6.5.1 Overview
6.5.2 Hospitals and Pharmacies: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
6.6 Research Institutes
6.6.1 Overview
6.6.2 Research Institutes: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
6.7 Others
6.7.1 Overview
6.7.2 Others: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
7. Medical and Lab Refrigerator Market – Geographic Analysis
7.1 North America: Medical and Lab Refrigerator Market
7.1.1 North America: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
7.1.2 North America: Medical and Lab Refrigerator Market, by Product Type
7.1.3 North America: Medical and Lab Refrigerator Market, by End-user
7.1.4 North America: Medical and Lab Refrigerator Market, by Key Country
7.1.4.1 US: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
7.1.4.1.1 US: Medical and Lab Refrigerator Market, by Product Type
7.1.4.1.2 US: Medical and Lab Refrigerator Market, by End-user
7.1.4.2 Canada: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
7.1.4.2.1 Canada: Medical and Lab Refrigerator Market, by Product Type
7.1.4.2.2 Canada: Medical and Lab Refrigerator Market, by End-user
7.1.4.3 Mexico: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
7.1.4.3.1 Mexico: Medical and Lab Refrigerator Market, by Product Type
7.1.4.3.2 Mexico: Medical and Lab Refrigerator Market, by End-user
7.2 North America: Impact Assessment of COVID-19 Pandemic
8. Industry Landscape
8.1 Overview
8.2 Market Initiative
8.3 New Product Development
8.4 Merger and Acquisition
9. Key Company Profiles
9.1 ZhongkeMeiling Cryogenics Company Limited
9.1.1 Key Facts
9.1.2 Business Description
9.1.3 Products and Services
9.1.4 Financial Overview
9.1.5 SWOT Analysis
9.1.6 Key Developments
9.2 Felix Storch, Inc.
9.2.1 Key Facts
9.2.2 Business Description
9.2.3 Products and Services
9.2.4 Financial Overview
9.2.5 SWOT Analysis
9.2.6 Key Developments
9.3 Follett LLC
9.3.1 Key Facts
9.3.2 Business Description
9.3.3 Products and Services
9.3.4 Financial Overview
9.3.5 SWOT Analysis
9.3.6 Key Developments
9.4 Helmer Scientific Inc.
9.4.1 Key Facts
9.4.2 Business Description
9.4.3 Products and Services
9.4.4 Financial Overview
9.4.5 SWOT Analysis
9.4.6 Key Developments
9.5 Haier Biomedical
9.5.1 Key Facts
9.5.2 Business Description
9.5.3 Products and Services
9.5.4 Financial Overview
9.5.5 SWOT Analysis
9.5.6 Key Developments
9.6 Lec Medical
9.6.1 Key Facts
9.6.2 Business Description
9.6.3 Products and Services
9.6.4 Financial Overview
9.6.5 SWOT Analysis
9.6.6 Key Developments
9.7 Philipp Kirsch GmbH
9.7.1 Key Facts
9.7.2 Business Description
9.7.3 Products and Services
9.7.4 Financial Overview
9.7.5 SWOT Analysis
9.7.6 Key Developments
9.8 Thermo Fisher Scientific Inc.
9.8.1 Key Facts
9.8.2 Business Description
9.8.3 Products and Services
9.8.4 Financial Overview
9.8.5 SWOT Analysis
9.8.6 Key Developments
9.9 Vestfrost Solutions
9.9.1 Key Facts
9.9.2 Business Description
9.9.3 Products and Services
9.9.4 Financial Overview
9.9.5 SWOT Analysis
9.9.6 Key Developments
9.10 Blue Star Limited
9.10.1 Key Facts
9.10.2 Business Description
9.10.3 Products and Services
9.10.4 Financial Overview
9.10.5 SWOT Analysis
9.10.6 Key Developments
10. Appendix
10.1 About The Insight Partners
10.2 Word Index
LIST OF TABLES
Table 1. North America: Medical and Lab Refrigerator Market, by Product Type – Revenue and Forecast to 2027 (US$ Million)
Table 2. North America: Medical and Lab Refrigerator Market, by Product Type – Revenue and Forecast to 2027 (US$ Million)
Table 3. US: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)
Table 4. US: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)
Table 5. Canada: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)
Table 6. Canada: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)
Table 7. Mexico: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)
Table 8. Mexico: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)
Table 9. List of Abbreviation
LIST OF FIGURES
Figure 1. Medical and Lab Refrigerator Market Segmentation
Figure 2. Medical and Lab Refrigerator Market Segmentation – By Geography
Figure 3. North America medical and lab refrigerator market Overview
Figure 4. North America medical and lab refrigerator market – Strategy Analysis
Figure 5. Global Medical and Lab Refrigerator Product Type Overview
Figure 6. Global Medical and Lab Refrigerator End Use Overview
Figure 7. Research Methodology
Figure 8. North America – PEST Analysis
Figure 9. Medical and Lab Refrigerator Market – Ecosystem Analysis
Figure 10. Expert Opinion
Figure 11. Medical and Lab Refrigerator Market Impact Analysis of Drivers and Restraints
Figure 12. Medical and Lab Refrigerator Market Revenue Share, by Product Type (2019 and 2027)
Figure 13. Blood Bank Refrigerators: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 14. Laboratory Refrigerators: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 15. Pharmacy Refrigerators: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 16. Enzyme Refrigerators: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 17. Others: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 18. Medical and Lab Refrigerator Market Revenue Share, by End-user (2019 and 2027)
Figure 19. Blood Bank: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 20. Pharmaceutical Companies: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 21. Hospitals and Pharmacies: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 22. Research Institutes: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 23. Others: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 24. North America: Medical and Lab Refrigerator Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. North America: Medical and Lab Refrigerator Market Revenue Share, by Product Type (2019 and 2027)
Figure 26. North America: Medical and Lab Refrigerator Market Revenue Share, by End-user (2019 and 2027)
Figure 27. North America: Medical and Lab Refrigerator Market Revenue Share, by Key Country (2019 and 2027)
Figure 28. US: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 29. Canada: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 30. Mexico: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 31. Impact of COVID-19 Pandemic in North American Markets
- ZhongkeMeiling Cryogenics Company Limited
- Felix Storch, Inc
- Follett LLC
- Helmer Scientific Inc.
- Haier Biomedical
- Lec Medical
- Philipp Kirsch GmbH
- Thermo Fisher Scientific Inc.
- Vestfrost Solutions
- Blue Star Limited
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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