Medical and Lab Refrigerator Market Size | Report by 2027

Medical and Lab Refrigerator Market Forecast to 2027 - Covid-19 Impact and Global 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)

  • Report Code : TIPRE00009100
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 178
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The medical and lab refrigerator market was valued at US$ 2,267.9 million in 2019 and is projected to reach US$ 3,096.6 million by 2027; it is expected to grow at a CAGR of 3.9% from 2020 to 2027.

Growing demand for safe storage of blood and blood derivatives from hospitals, pharmacies, clinics, and diagnostic centers is boosting the medical and lab refrigerator market growth across the world. Both in medical research and pharmaceutical sector, rising government funding is expected to increase the demand for medical and laboratory refrigerators further. For example, the Medical Device Directive of the European Commission has used specific requirements and regulations for biomedical freezers and refrigerators to store blood and blood components. Furthermore, the increasing prevalence of various chronic diseases such as cancer, cardiac diseases, and infectious diseases is leading to an increase in blood transfusion demand another critical factor that will boost the medical and lab refrigerators market growth. According to the European Society of Hemapheresis (ESFH), high preference toward plasmapheresis will raise the installation of plasma freezers in hospitals, blood banks, and research organizations for the storage of fresh frozen plasma, RBCs, and other blood derivatives. Increasing awareness about blood donation and government initiatives to encourage donations will also foster business growth. However, the high cost of refrigerators and freezers of medical grade, as well as increasing preference for refurbished equipment, may impede the medical and lab refrigerator market growth during the period of analysis.

Impact of COVID-19 Pandemic on Medical and Lab Refrigerator Market

Impact of COVID-19 Pandemic on Medical and Lab Refrigerator Market
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The healthcare and medical device industry is at the epicenter of this unprecedented global pandemic challenge, and the private sector has come up with the opportunity to offer the government all the support it needs, whether it is testing support, preparing isolation beds for treating COVID-19 patients or deploying equipment and staff in identified nodal hospitals. It is anticipated that a series of demand shocks, both positive and negative, will occur in the coming six months as medical device OEMs and their suppliers respond to the changing needs of providers.

Lucrative Regions for Medical and Lab Refrigerator Market

Medical and Lab Refrigerator Market Insights

Increasing Number of Accidents, Surgery Interventions, and Others Result in the Growth of Medical and Lab Refrigerator Market

The increasing number of accidents, surgical interventions such as cancer, organ and bone marrow transplants, cardiovascular surgery, general surgery, nephrology, and dialysis lead to increased demand for blood components, thus driving the growth for medical and laboratory refrigerator market. For example, according to the American Cancer Society (ACS), in 2017, ~1.7 million people were diagnosed with cancer. Among these, some of the patients needed blood transfusion daily during their treatment along with chemotherapy. Lack of timely access to secure blood transfusion leads to increased demand for blood banks for efficient, safe, and real-time blood unit availability. Therefore, different organizations are getting involved in activities to launch innovative product solutions in the market. For example, in March 2018, India-based Strides Software Solutions, which enables the availability of safe and high-quality blood components, developed India's first centralized donor authentication and identification application based on Aadhaar, the D-Health app.

Product Type-Based Market Insights

The medical and lab refrigerator market, by type, is segmented into blood bank refrigerators, laboratory refrigerators, pharmacy refrigerators, enzyme refrigerators, and others. The medical and lab refrigerator market for the blood bank refrigerators segment is estimated to lead during the forecast period. These refrigerators are used in blood banks, laboratories, and hospitals. Temperature uniformity is the primary requirement for blood bag storage. In addition, other parameters required to select the blood bank refrigerator include bags capacity, number of shelves, safety features, the material of construction, and, most importantly, standards and certifications such as ISO and CE.

Global Medical and Lab Refrigerator Market, by Product Type - 2019 and 2027

Global Medical and Lab Refrigerator Market, by Product Type - 2019 and 2027
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End User-Based Market Insights

The end-user segment of the medical and lab refrigerator market is categorized into blood banks, pharmaceutical companies, hospitals and pharmacies, research institutes, and others. The medical and lab refrigerator market for the hospitals and pharmacies segment dominated the market in 2019. Specialized hospitals and clinics offer complex services, which is associated with the use of modern techniques and equipment, as well as new drug discoveries.

In several cases, refrigeration systems have become vital resources to carry out procedures and maintain ideal conditions of diverse materials. Thus, medical-grade refrigerators are highly used in hospitals. These are commonly used to store blood bags, serums, tissues, and organs for transplant. Proper storage of these components is highly essential to prevent financial loss. Further, improper handling of these components can be life threatening for patients.

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Medical and Lab Refrigerator Market: Strategic Insights

medical-and-lab-refrigerator-market
Market Size Value inUS$ 2,267.9 Million in 2019
Market Size Value byUS$ 3,096.6 Million by 2027
Growth rateCAGR of 3.9% from 2020-2027
Forecast Period2020-2027
Base Year2020
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The players in the medical and lab refrigerator market focus on various strategic alliances such as mergers, acquisitions, and new product launches to maintain their positions in the medical and lab refrigerator market. A few developments are listed below:

In 2019, Accucold, a division of Felix Storch, Inc. (FSI), launched a new series of purpose-built refrigeration for meeting the demand from life science, laboratory, scientific, and medical cold storage applications. The Performance Series Med-Lab line, available in multiple sizes, expands Accucold's offering of cold storage equipment into the life sciences market. 

In 2019, Lec Medical announced the launch of Control Plus - a new range of medical refrigeration that measures both the core temperature of the fridge, as well as the vaccine itself. Featuring an improved controller, larger internal capacities, and a flat door to save valuable space in a busy medical environment, the Control Plus range is designed for a variety of locations, from pharmacies and hospitals to laboratories and general practice.

Medical and Lab Refrigerator Market - by Product Type

  • Blood Bank Refrigerators
  • Laboratory Refrigerators
  • Pharmacy Refrigerators
  • Enzyme Refrigerators
  • Others

Medical and Lab Refrigerator Market - by End User

  • Blood Banks
  • Pharmaceutical Companies
  • Hospitals And Pharmacies
  • Research Institutes
  • Others

Medical and Lab Refrigerator Market - by Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of APAC
  • Middle East & Africa (MEA)

    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • South America (SAM)

    • Brazil
    • Argentina
    • Rest of SAM

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
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Medical and Lab Refrigerator Market Forecast to 2027 - Covid-19 Impact and Global Analysis - By Product Type ; End User

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


Which end-user led the medical lab and refrigerator market?

Hospitals and pharmacies, owing to presence of specialized hospitals and clinics that offer complex services, which is associated with the use of modern techniques and equipment, as well as new drug discoveries. In several cases, refrigeration systems have become vital resources carried out procedures and to maintain ideal conditions of diverse materials. Thus, medical-grade refrigerators are highly used in hospitals. These are commonly used to store blood bags, serums, tissues, and organs for transplant. Proper storage is of these components is highly essential to prevent financial loss.

Which factor is driving the medical lab and refrigerator market?

Factors such as rising demand for blood storage units, growing number of trauma centers and hospitals are fueling the demand for medical and lab refrigerator market. In addition, the need for blood and blood derivatives is growing with the evolution of modern healthcare systems, an increase in life expectancy, and a higher incidence of numerous diseases. Blood banks witness an enormous inflow of blood units from blood donation and outflow to hospitals and research centers daily, thus necessitating the need for proper preservation and traceable refrigeration solutions such as blood banks.

Which region led medical lab and refrigerator market?

The pharmaceutical industry in Europe is one of the key performing high-tech sectors. In 2018, the European Federation of Pharmaceutical Industries and Associations (EFPIA) estimated that the industry manufactured ~US$ 282 billion of medicines. Also, in 2018, the pharmaceutical industry in the region invested ~US$ 40,000 million in R&D, which signifies the extensive use of laboratories and medical refrigerators. Rising adoption of medical-grade refrigerators by the pharmaceutical companies and research laboratories engaged in the drug discovery process will also spur the medical and lab refrigerator growth. Thus, the European region led the medical and lab refrigerator market.

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Medical and Lab Refrigerator Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.2.1 North America

4.2.2 Europe

4.2.3 Asia-Pacific

4.2.4 MEA

4.2.5 SAM

4.3 Ecosystem Analysis

4.4 Expert Opinion

5. Medical and Lab Refrigerator Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Growing Demand for Blood Storage Centers and Blood Banks

5.1.2 Increasing Number of Accidents, Surgery Interventions, and others

5.2 Market Restraints

5.2.1 Increasing Preference for Refurbished Equipment

5.3 Market Opportunities

5.3.1 Increasing Research & Development Investments in Medical Science By Government Organizations

5.4 Future Trends

5.4.1 Technological Advancements in Medical Refrigerators

5.5 Impact Analysis of Drivers and Restraints

6. Medical and Lab Refrigerator – Global Market Analysis

6.1 Medical and Lab Refrigerator Market Overview

6.2 Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

6.3 Market Positioning – Global Market Players Ranking

7. Medical and Lab Refrigerator Market Analysis – By Product Type

7.1 Overview

7.2 Medical and Lab Refrigerator Market, By Product Type (2019 and 2027)

7.3 Blood Bank Refrigerators

7.3.1 Overview

7.3.2 Blood Bank Refrigerators: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

7.4 Laboratory Refrigerators

7.4.1 Overview

7.4.2 Laboratory Refrigerators: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

7.5 Pharmacy Refrigerators

7.5.1 Overview

7.5.2 Pharmacy Refrigerators: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

7.6 Enzyme Refrigerators

7.6.1 Overview

7.6.2 Enzyme Refrigerators: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

7.7 Others

7.7.1 Overview

7.7.2 Others: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

8. Medical and Lab Refrigerator Market Analysis – By End-user

8.1 Overview

8.2 Medical and Lab Refrigerator Market, By End-user (2019 and 2027)

8.3 Blood Bank

8.3.1 Overview

8.3.2 Blood Bank: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

8.4 Pharmaceutical Companies

8.4.1 Overview

8.4.2 Pharmaceutical Companies: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

8.5 Hospitals and Pharmacies

8.5.1 Overview

8.5.2 Hospitals and Pharmacies: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

8.6 Research Institutes

8.6.1 Overview

8.6.2 Research Institutes: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

8.7 Others

8.7.1 Overview

8.7.2 Others: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9. Medical and Lab Refrigerator Market – Geographic Analysis

9.1 Overview

9.2 North America: Medical and Lab Refrigerator Market

9.2.1 North America: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9.2.2 North America: Medical and Lab Refrigerator Market, by Product Type

9.2.3 North America: Medical and Lab Refrigerator Market, by End-user

9.2.4 North America: Medical and Lab Refrigerator Market, by Key Country

9.2.4.1 US: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9.2.4.1.1 US: Medical and Lab Refrigerator Market, by Product Type

9.2.4.1.2 US: Medical and Lab Refrigerator Market, by End-user

9.2.4.2 Canada: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9.2.4.2.1 Canada: Medical and Lab Refrigerator Market, by Product Type

9.2.4.2.2 Canada: Medical and Lab Refrigerator Market, by End-user

9.2.4.3 Mexico: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9.2.4.3.1 Mexico: Medical and Lab Refrigerator Market, by Product Type

9.2.4.3.2 Mexico: Medical and Lab Refrigerator Market, by End-user

9.3 Europe: Medical and Lab Refrigerator Market

9.3.1 Europe: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9.3.2 Europe: Medical and Lab Refrigerator Market, by Product Type

9.3.3 Europe: Medical and Lab Refrigerator Market, by End-user

9.3.4 Europe: Medical and Lab Refrigerator Market, by Key Country

9.3.4.1 UK: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9.3.4.1.1 UK: Medical and Lab Refrigerator Market, by Product Type

9.3.4.1.2 UK: Medical and Lab Refrigerator Market, by End-user

9.3.4.2 Germany: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9.3.4.2.1 Germany: Medical and Lab Refrigerator Market, by Product Type

9.3.4.2.2 Germany: Medical and Lab Refrigerator Market, by End-user

9.3.4.3 France: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9.3.4.3.1 France: Medical and Lab Refrigerator Market, by Product Type

9.3.4.3.2 France: Medical and Lab Refrigerator Market, by End-user

9.3.4.4 Italy: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9.3.4.4.1 Italy: Medical and Lab Refrigerator Market, by Product Type

9.3.4.4.2 Italy: Medical and Lab Refrigerator Market, by End-user

9.3.4.5 Russia: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9.3.4.5.1 Russia: Medical and Lab Refrigerator Market, by Product Type

9.3.4.5.2 Russia: Medical and Lab Refrigerator Market, by End-user

9.3.4.6 Rest of Europe: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9.3.4.6.1 Rest of Europe: Medical and Lab Refrigerator Market, by Product Type

9.3.4.6.2 Rest of Europe: Medical and Lab Refrigerator Market, by End-user

9.4 Asia-Pacific: Medical and Lab Refrigerator Market

9.4.1 Asia-Pacific: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9.4.2 Asia-Pacific: Medical and Lab Refrigerator Market, by Product Type

9.4.3 Asia-Pacific: Medical and Lab Refrigerator Market, by End-user

9.4.4 Asia-Pacific: Medical and Lab Refrigerator Market, by Key Country

9.4.4.1 China: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9.4.4.1.1 China: Medical and Lab Refrigerator Market, by Product Type

9.4.4.1.2 China: Medical and Lab Refrigerator Market, by End-user

9.4.4.2 Japan: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9.4.4.2.1 Japan: Medical and Lab Refrigerator Market, by Product Type

9.4.4.2.2 Japan: Medical and Lab Refrigerator Market, by End-user

9.4.4.3 India: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9.4.4.3.1 India: Medical and Lab Refrigerator Market, by Product Type

9.4.4.3.2 India: Medical and Lab Refrigerator Market, by End-user

9.4.4.4 Australia: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9.4.4.4.1 Australia: Medical and Lab Refrigerator Market, by Product Type

9.4.4.4.2 Australia: Medical and Lab Refrigerator Market, by End-user

9.4.4.5 South Korea: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9.4.4.5.1 South Korea: Medical and Lab Refrigerator Market, by Product Type

9.4.4.5.2 South Korea: Medical and Lab Refrigerator Market, by End-user

9.4.4.6 Rest of APAC: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9.4.4.6.1 Rest of APAC: Medical and Lab Refrigerator Market, by Product Type

9.4.4.6.2 Rest of APAC: Medical and Lab Refrigerator Market, by End-user

9.5 Middle East & Africa: Medical and Lab Refrigerator Market

9.5.1 Middle East & Africa: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9.5.2 Middle East & Africa: Medical and Lab Refrigerator Market, by Product Type

9.5.3 Middle East & Africa: Medical and Lab Refrigerator Market, by End-user

9.5.4 Middle East & Africa: Medical and Lab Refrigerator Market, by Key Country

9.5.4.1 Saudi Arabia: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9.5.4.1.1 Saudi Arabia: Medical and Lab Refrigerator Market, by Product Type

9.5.4.1.2 Saudi Arabia: Medical and Lab Refrigerator Market, by End-user

9.5.4.2 UAE: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9.5.4.2.1 UAE: Medical and Lab Refrigerator Market, by Product Type

9.5.4.2.2 UAE: Medical and Lab Refrigerator Market, by End-user

9.5.4.3 South Africa: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9.5.4.3.1 South Africa: Medical and Lab Refrigerator Market, by Product Type

9.5.4.3.2 South Africa: Medical and Lab Refrigerator Market, by End-user

9.5.4.4 Rest of MEA: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9.5.4.4.1 Rest of MEA: Medical and Lab Refrigerator Market, by Product Type

9.5.4.4.2 Rest of MEA: Medical and Lab Refrigerator Market, by End-user

9.6 South America: Medical and Lab Refrigerator Market

9.6.1 South America: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9.6.2 South America: Medical and Lab Refrigerator Market, by Product Type

9.6.3 South America: Medical and Lab Refrigerator Market, by End-user

9.6.4 South America: Medical and Lab Refrigerator Market, by Key Country

9.6.4.1 Brazil: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9.6.4.1.1 Brazil: Medical and Lab Refrigerator Market, by Product Type

9.6.4.1.2 Brazil: Medical and Lab Refrigerator Market, by End-user

9.6.4.2 Argentina: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9.6.4.2.1 Argentina: Medical and Lab Refrigerator Market, by Product Type

9.6.4.2.2 Argentina: Medical and Lab Refrigerator Market, by End-user

9.6.4.3 Rest of SAM: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

9.6.4.3.1 Rest of SAM: Medical and Lab Refrigerator Market, by Product Type

9.6.4.3.2 Rest of SAM: Medical and Lab Refrigerator Market, by End-user

10. Impact of COVID-19 Pandemic on Global Medical and Lab Refrigerator Market

10.1 North America: Impact Assessment of COVID-19 Pandemic

10.2 Europe: Impact Assessment of COVID-19 Pandemic

10.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic

10.4 Middle East & Africa: Impact assessment of COVID-19 Pandemic

10.5 South Africa: Impact assessment of COVID-19 Pandemic

11. Industry Landscape

11.1 Overview

11.2 Market Initiative

11.3 New Product Development

11.4 Merger and Acquisition

12. Key Company Profiles

12.1 ZhongkeMeiling Cryogenics Company Limited

12.1.1 Key Facts

12.1.2 Business Description

12.1.3 Products and Services

12.1.4 Financial Overview

12.1.5 SWOT Analysis

12.1.6 Key Developments

12.2 Felix Storch, Inc.

12.2.1 Key Facts

12.2.2 Business Description

12.2.3 Products and Services

12.2.4 Financial Overview

12.2.5 SWOT Analysis

12.2.6 Key Developments

12.3 Follett LLC

12.3.1 Key Facts

12.3.2 Business Description

12.3.3 Products and Services

12.3.4 Financial Overview

12.3.5 SWOT Analysis

12.3.6 Key Developments

12.4 Helmer Scientific Inc.

12.4.1 Key Facts

12.4.2 Business Description

12.4.3 Products and Services

12.4.4 Financial Overview

12.4.5 SWOT Analysis

12.4.6 Key Developments

12.5 Haier Biomedical

12.5.1 Key Facts

12.5.2 Business Description

12.5.3 Products and Services

12.5.4 Financial Overview

12.5.5 SWOT Analysis

12.5.6 Key Developments

12.6 Lec Medical

12.6.1 Key Facts

12.6.2 Business Description

12.6.3 Products and Services

12.6.4 Financial Overview

12.6.5 SWOT Analysis

12.6.6 Key Developments

12.7 Philipp Kirsch GmbH

12.7.1 Key Facts

12.7.2 Business Description

12.7.3 Products and Services

12.7.4 Financial Overview

12.7.5 SWOT Analysis

12.7.6 Key Developments

12.8 Thermo Fisher Scientific Inc.

12.8.1 Key Facts

12.8.2 Business Description

12.8.3 Products and Services

12.8.4 Financial Overview

12.8.5 SWOT Analysis

12.8.6 Key Developments

12.9 Vestfrost Solutions

12.9.1 Key Facts

12.9.2 Business Description

12.9.3 Products and Services

12.9.4 Financial Overview

12.9.5 SWOT Analysis

12.9.6 Key Developments

12.10 Blue Star Limited

12.10.1 Key Facts

12.10.2 Business Description

12.10.3 Products and Services

12.10.4 Financial Overview

12.10.5 SWOT Analysis

12.10.6 Key Developments

13. Appendix

13.1 About The Insight Partners

13.2 Word Index


LIST OF TABLES

Table 1. Medical and Lab Refrigerator Market – 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. North America: Medical and Lab Refrigerator Market, by Product Type – Revenue and Forecast to 2027 (US$ Million)

Table 4. US: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)

Table 5. US: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)

Table 6. Canada: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)

Table 7. Canada: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)

Table 8. Mexico: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)

Table 9. Mexico: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)

Table 10. Europe: Medical and Lab Refrigerator Market, by Product Type – Revenue and Forecast to 2027 (US$ Million)

Table 11. Europe: Medical and Lab Refrigerator Market, by Product Type – Revenue and Forecast to 2027 (US$ Million)

Table 12. UK: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)

Table 13. UK: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)

Table 14. Germany: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)

Table 15. Germany: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)

Table 16. France: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)

Table 17. France: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)

Table 18. Italy: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)

Table 19. Italy: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)

Table 20. Russia: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)

Table 21. Russia: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)

Table 22. Rest of Europe: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)

Table 23. Rest of Europe: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)

Table 24. Asia-Pacific: Medical and Lab Refrigerator Market, by Product Type – Revenue and Forecast to 2027 (US$ Million)

Table 25. Asia-Pacific: Medical and Lab Refrigerator Market, by Product Type – Revenue and Forecast to 2027 (US$ Million)

Table 26. China: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)

Table 27. China: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)

Table 28. Japan: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)

Table 29. Japan: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)

Table 30. India: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)

Table 31. India: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)

Table 32. Australia: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)

Table 33. Australia: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)

Table 34. South Korea: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)

Table 35. South Korea: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)

Table 36. Rest of APAC: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)

Table 37. Rest of APAC: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)

Table 38. Middle East & Africa: Medical and Lab Refrigerator Market, by Product Type – Revenue and Forecast to 2027 (US$ Million)

Table 39. Middle East & Africa: Medical and Lab Refrigerator Market, by Product Type – Revenue and Forecast to 2027 (US$ Million)

Table 40. Saudi Arabia: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)

Table 41. Saudi Arabia: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)

Table 42. UAE: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)

Table 43. UAE: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)

Table 44. South Africa: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)

Table 45. South Africa: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)

Table 46. Rest of MEA: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)

Table 47. Rest of MEA: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)

Table 48. South America: Medical and Lab Refrigerator Market, by Product Type – Revenue and Forecast to 2027 (US$ Million)

Table 49. South America: Medical and Lab Refrigerator Market, by Product Type – Revenue and Forecast to 2027 (US$ Million)

Table 50. Brazil: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)

Table 51. Brazil: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)

Table 52. Argentina: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)

Table 53. Argentina: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)

Table 54. Rest of SAM: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)

Table 55. Rest of SAM: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)

Table 56. 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. Global Medical and Lab Refrigerator Market Overview

Figure 4. Global Medical and Lab Refrigerator Market Outlook

Figure 5. Global Medical and Lab Refrigerator Market – Strategy Analysis

Figure 6. Global Medical and Lab Refrigerator Market – Geography Analysis

Figure 7. Global Medical and Lab Refrigerator Market – Product Type Analysis

Figure 8. Global Medical and Lab Refrigerator Market – End-user Analysis

Figure 9. North America – PEST Analysis

Figure 10. Europe – PEST Analysis

Figure 11. Asia-Pacific – PEST Analysis

Figure 12. MEA– PEST Analysis

Figure 13. SAM– PEST Analysis

Figure 14. Medical and Lab Refrigerator Market – Ecosystem Analysis

Figure 15. Expert Opinion

Figure 16. Medical and Lab Refrigerator Market Impact Analysis of Drivers And Restraints

Figure 17. Geographic Overview of Medical and Lab Refrigerator Market

Figure 18. Global: Medical and Lab Refrigerator Market – Revenue and Forecast to 2027 (US$ Million)

Figure 19. Medical and Lab Refrigerator Market Revenue Share, by Product Type (2019 and 2027)

Figure 20. Blood Bank Refrigerators: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 21. Laboratory Refrigerators: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 22. Pharmacy Refrigerators: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 23. Enzyme Refrigerators: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 24. Others: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 25. Medical and Lab Refrigerator Market Revenue Share, by End-user (2019 and 2027)

Figure 26. Blood Bank: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 27. Pharmaceutical Companies: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 28. Hospitals and Pharmacies: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 29. Research Institutes: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 30. Others: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 31. Global Medical and Lab Refrigerator Market Revenue Share, by Region (2019 and 2027)

Figure 32. North America: Medical and Lab Refrigerator Market – Revenue and Forecast to 2027 (US$ Million)

Figure 33. North America: Medical and Lab Refrigerator Market Revenue Share, by Product Type (2019 and 2027)

Figure 34. North America: Medical and Lab Refrigerator Market Revenue Share, by End-user (2019 and 2027)

Figure 35. North America: Medical and Lab Refrigerator Market Revenue Share, by Key Country (2019 and 2027)

Figure 36. US: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 37. Canada: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 38. Mexico: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 39. Europe: Medical and Lab Refrigerator Market – Revenue and Forecast to 2027 (US$ Million)

Figure 40. Europe: Medical and Lab Refrigerator Market Revenue Share, by Product Type (2019 and 2027)

Figure 41. Europe: Medical and Lab Refrigerator Market Revenue Share, by End-user (2019 and 2027)

Figure 42. Europe: Medical and Lab Refrigerator Market Revenue Share, by Key Country (2019 and 2027)

Figure 43. UK: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 44. Germany: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 45. France: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 46. Italy: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 47. Russia: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 48. Rest of Europe: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 49. Asia-Pacific: Medical and Lab Refrigerator Market – Revenue and Forecast to 2027 (US$ Million)

Figure 50. Asia-Pacific: Medical and Lab Refrigerator Market Revenue Share, by Product Type (2019 and 2027)

Figure 51. Asia-Pacific: Medical and Lab Refrigerator Market Revenue Share, by End-user(2019 and 2027)

Figure 52. Asia-Pacific: Medical and Lab Refrigerator Market Revenue Share, by Key Country (2019 and 2027)

Figure 53. China: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 54. Japan: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 55. India: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 56. Australia: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 57. South Korea: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 58. Rest of APAC: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 59. Middle East & Africa: Medical and Lab Refrigerator Market – Revenue and Forecast to 2027 (US$ Million)

Figure 60. Middle East & Africa: Medical and Lab Refrigerator Market Revenue Share, by Product Type (2019 and 2027)

Figure 61. Middle East & Africa: Medical and Lab Refrigerator Market Revenue Share, by End-user (2019 and 2027)

Figure 62. Middle East & Africa: Medical and Lab Refrigerator Market Revenue Share, by Key Country (2019 and 2027)

Figure 63. Saudi Arabia: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 64. UAE: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 65. South Africa: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 66. Rest of MEA: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 67. South America: Medical and Lab Refrigerator Market – Revenue and Forecast to 2027 (US$ Million)

Figure 68. South America: Medical and Lab Refrigerator Market Revenue Share, by Product Type (2019 and 2027)

Figure 69. South America: Medical and Lab Refrigerator Market Revenue Share, by End-user (2019 and 2027)

Figure 70. South America: Medical and Lab Refrigerator Market Revenue Share, by Key Country (2019 and 2027)

Figure 71. Brazil: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 72. Argentina: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 73. Rest of SAM: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 74. Impact of COVID-19 Pandemic in North American Markets

Figure 75. Impact of COVID-19 Pandemic in European Markets

Figure 76. Impact of COVID-19 Pandemic in Asia Pacific Markets

Figure 77. Impact of COVID-19 Pandemic in Middle East & Arica Markets

Figure 78. Impact of COVID-19 Pandemic in South Africa Markets

The List of Companies - Medical and Lab Refrigerator Market

  1. ZhongkeMeiling Cryogenics Company Limited.
  2. Felix Storch, Inc.
  3. Follett LLC
  4. Helmer Scientific Inc.
  5. Haier Biomedical
  6. Lec Medical
  7. Philipp Kirsch GmbH
  8. Thermo Fisher Scientific Inc.
  9. Vestfrost Solutions
  10. 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.

  1. 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.

  1. 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:

Research Methodology

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.

  1. 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.

  1. 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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