The Biomedical Refrigerators and Freezers Market is expected to grow at a 5.9% CAGR during the forecast period, from US$ 3.2 billion in 2020 to US$ 6 billion by 2031.

Biomedical refrigerators and freezers are medical devices that are used to keep biological samples such as biological reagents, blood, blood derivatives, medicines, vaccines, deoxyribonucleic acid (DNA), ribonucleic acid (RNA), and flammable chemicals cold. To effectively store biological samples, certain conditions must be met.

Biomedical refrigerators and freezers, as opposed to domestic refrigerators and freezers, provide optimal conditions for the efficient storage of biological samples. Biomedical refrigerators and freezers are frequently used in blood banks, hospitals, diagnostic centres, research laboratories, educational institutions, and other facilities.

Commercially available biomedical refrigerators and freezers can be used for a variety of applications based on temperature range.

Ultra-low temperature freezers, for example, with temperature ranges ranging from -70 to -80 degrees Celsius and below, are used to store biomedical samples such as DNA and RNA for extended periods of time. Because of their temperature range of -30°C to -40°C, plasma freezers are preferred for storing plasma products, whole blood, and vaccines.

Blood bank refrigerators are designed to keep whole blood or blood component products cold. In contrast, the blood bank refrigerators segment accounts for the majority of the global biomedical refrigerators and freezers market.

The steady increase in the number of blood banks in developing and developed regions, as well as the presence of stringent regulatory requirements, are driving the blood bank refrigerators segment. The laboratory, medical freezers, and pharmacy segments, on the other hand, are expected to grow at the fastest CAGR during the forecast period.

During the forecast period, the global biomedical refrigerator and freezer market is expected to grow at a single-digit CAGR (2015 to 2025).

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Key players in global biomedical refrigerators and freezers market are, Aegis Scientific, Inc., ARCTIKO A/S, ThermoFisher Scientific, Inc., Binder GmbH, BioMedical Solutions, Inc., Bionics Scientific Technologies (P) Ltd., Coldway, DESMON S.p.A, Eppendorf AG, Froilabo SAS, Panasonic Healthcare Co., Ltd., Philipp Kirsch GmbH, LabRepCo, Inc., Gram Commercial A/S, and Venktron Electronics Co. Ltd.