Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Biomedical Refrigerators and Freezers Market size was valued at USD 4.33 billion in 2024 and is poised to register USD 9.47 billion at a CAGR of 6.2% during the forecast period from 2025 to 2037. In 2025, the industry size of biomedical refrigerators and freezers is evaluated at USD 4.60 billion.
The increasing prevalence of chronic diseases such as cancer, diabetes, and cardiovascular disorders, is driving demand for biologics, vaccines, and blood products, which require precise cold storage solutions. Refrigerated or frozen medicines have a more energy-intensive lifecycle from manufacturing until they reach the patients. Biologics and advanced medicinal therapy products (ATMPs) in high-income countries and vaccines in middle- and low-income countries will continue to drive cold chain medicine value and volume growth respectively. Biologics, particularly those used in cancer treatment, have critical refrigeration needs; temperature ranging from 2-8 degrees for most antibodies and storage duration of up to 12 months when properly refrigerated.
Major manufacturers like Thermo Fisher Scientific, Panasonic Healthcare, Haier Biomedical, Eppendorf, and Helmer Scientific have substantial production capacities, supported by advanced facilities worldwide. These companies operate large-scale manufacturing plants, often in regions with high demand or cost advantages, such as the U.S., Europe, China, and India. In response to rising demand, companies are investing in expanding their production facilities and capabilities. For instance, as of 2020, the Haier Biomedical IoT factory has four production lines: cryogenic, blood refrigerator, vaccine refrigerator, and biological safety. These lines cover refrigeration equipment from -196℃ to 8℃ and can produce 600 sets of equipment per day, with an annual production capacity of 200,000 units. The overall production facility employs 500 people, representing a 20% reduction in manpower compared to traditional operations.
Biomedical Refrigerators and Freezers Sector: Growth Drivers and Challenges
Growth Drivers
- Increasing demand for biopharmaceuticals and vaccines: Biopharmaceuticals, including antibodies, gene therapies, and biosimilars, require stringent temperature-controlled storage to maintain stability and efficacy. The expanding pipeline of biopharmaceuticals due to rising investments in R&D boots the need for advanced refrigeration systems in research labs, production facilities, and healthcare settings. The global focus on developing vaccines for infectious diseases like COVID-19, influenza, and emerging pathogens necessitates robust cold storage systems. Vaccines like mRNA-based COVID-19 vaccines require ultra-low temperature storage, driving demand for specialized freezers. A 2022, online survey study on the COVID-19 vaccine published by the National Library of Medicine (NLM) projected that by October 2021, vaccination rates increased to 75.8%.
- Growing organ transplantation and blood donation: The rise in organ transplant surgeries such as heart, liver, and kidney creates a demand for specialized refrigerators and freezers to store organs under stringent temperature conditions. Organs require precise and stable storage environments to maintain viability during transportation and before transplantation.
Government and non-government organizations promote blood donation programs to address shortages, especially in developing nations. The safe storage of donated blood and its components requires advanced refrigeration systems. According to the American National Red Cross, around 6.8 million U.S. people donate blood annually, and 13.6 million units of whole blood and red blood cells are collected annually. - Technological advancements and innovations: Internet of Things (IoT)-enabled refrigerators allow real-time temperature monitoring and remote control through connected devices. Alerts for temperature fluctuations, power outages, or equipment malfunctions ensure the safety of stored materials. Automated systems record and store temperature data for compliance with regulatory standards.
Moreover, AI algorithms predict potential failures, reducing downtime and maintenance costs. AI enhances temperature uniformity and energy efficiency by optimizing system operations.
Challenges
- High initial costs: Advanced biomedical refrigerators and freezers, especially ultra-low temperature (ULT) units, involve significant upfront costs. Smaller clinics and laboratories in developing regions may struggle to afford these systems.
- Environmental concerns: Using refrigerators in biomedical systems can contribute to greenhouse gas emissions, raising sustainability issues. Stricter regulation on refrigerants, such as phasing out HFCs, can increase manufacturing costs.
Biomedical Refrigerators and Freezers Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
6.2% |
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Base Year Market Size (2024) |
USD 4.33 billion |
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Forecast Year Market Size (2037) |
USD 9.47 billion |
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Regional Scope |
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Biomedical Refrigerators and Freezers Segmentation
Product (Blood Bank Refrigerators, Shock Freezers, Plasma Freezers, Ultra Low Temperature Freezers, Laboratory /Pharmacy/Medical Refrigerators, and Laboratory /Pharmacy/Medical Freezers)
Plasma freezers segment is anticipated to dominate over 31.9% biomedical refrigerators and freezers market share by 2037. The market is expected to grow as advancements in plasma therapies, blood banking, and regulatory compliance fuel demand for reliable and efficient freezing solutions. Plasma is widely used for treating conditions such as hemophilia, immune deficiencies, and trauma-related injuries. The increasing prevalence of these conditions fuels the demand for plasma storage solutions. According to the World Federation of Hemophilia (WFH), there are an estimated 815,100 cases of hemophilia globally, of which only 347,026 are diagnosed, and 276,900 are severe hemophilia.
Moreover, rising awareness and participation in blood donation programs boost the need for plasma freezers in blood banks. The establishment of new blood banks and the modernization of existing ones demand advanced plasma freezing solutions. Modern plasma freezers maintain temperatures of -30 degrees or lower, ensuring the long-term viability of stored plasma.
End use (Hospitals, Research Laboratories, Pharmacies, Diagnostic Centers, and Blood Banks)
The blood banks segment of the biomedical refrigerators and freezers market is poised to exhibit robust growth during the forecast period. Blood banks are a pivotal factor driving the market's development, as they require specialized storage solutions to ensure the safety and efficacy of blood and its components. Moreover, healthcare infrastructure investments often include the construction of new hospitals, clinics, and specialized blood banks, all requiring advanced storage solutions. The U.S. Centers for Medicare & Medicaid Services states that in 2023, U.S. healthcare spending increased by 7.5% to USD 4.9 trillion, or USD 14,570 per person. Approximately 17.6% of the country's GDP was allocated to healthcare.
Additionally, key players exemplify the industry’s shift towards sustainable solutions, integrating energy-efficient technologies and environmentally friendly refrigerants into their blood bank refrigeration products. For instance, Thermo Scientific's TSX Series refrigerators and freezers prioritize sample safety, sustainability, and compliance with the U.S. Environmental Safety Agency's Significant New Alternatives Policy (SNAP). Their V-Drive compressor technology ensures temperature homogeneity and adapts to the lab or clinical setting, providing significant energy savings without compromising safety. The ACT Environmental Impact Factor Label gives third-party verified information on the environmental impact of laboratory items.
Our in-depth analysis of the global biomedical refrigerators and freezers market includes the following segments:
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Product |
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End use |
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Customize this ReportBiomedical Refrigerators and Freezers Industry - Regional Scope
North America Market Forecast
North America biomedical refrigerators and freezers market is likely to hold over 67.9% revenue share by the end of 2037. The increased focus on life sciences R&D in North America, supported by strong investments, advanced infrastructure, and a thriving biotech industry, is a major factor driving the biomedical refrigerators and freezers market. this trend is expected to continue as the region remains at the forefront of medical and scientific innovation.
The U.S. hosts a large percentage of global clinical trials due to its extensive healthcare infrastructure and diverse patient population. These trials require the storage of biological materials, reagents, and investigational drugs under strict temperature conditions. This drives demand for biomedical refrigerators and freezers with high precision and compliance with regulatory standards. For instance, the World Health Organization (WHO) 2024, reports 186,497 U.S. clinical trials accounting for 20.58%.
The increasing emphasis on understanding genetic and protein-level mechanisms of diseases has led to a surge in research activities, necessitating advanced cold storage solutions. The U.S. government, along with private organizations, is investing heavily in genomics and proteomics research. This includes funding for laboratory infrastructure, including biomedical refrigerators and freezers. Universities and biopharmaceutical companies are also expanding their research capabilities, driving further adoption of these storage solutions.
In Canada, governments are funding projects like the Human Genome Project and precision medicine initiatives that require extensive storage of DNA, RN, and other biological samples under strict temperature control. Genome Canada has about USD 60 million available for short-read data creation utilizing Illumina technology. Genome Canada may contribute up to USD 6 million to a project that is approved.
Europe Market Analysis
Europe biomedical refrigerators and freezers market is expected to hold a significant share during the forecast period. The market is poised for sustained growth, supported by ongoing advancements in medical research, the expansion of healthcare facilities, and the increasing need for compliant storage solutions. As the biomedical sector continues to evolve, the demand for specialized refrigeration equipment is expected to rise accordingly.
Germany has an abundance of biobanks dedicated to collecting, preserving, and maintaining biological specimens for research purposes. The growth of biobanking operations increases the demand for medical-grade refrigeration systems capable of storing a wide range of sample types under regulated circumstances, including tissues, cells, and DNA. EIT Health reports 37 biobanks in GBA (59 organizations in the BBMRI Directory): 168 collections – 75 collections for commercial use.
Companies Dominating the Biomedical Refrigerators and Freezers Landscape
- Panasonic Healthcare Corporation
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Haier Biomedical
- Eppendorf AG
- Power Scientific, Inc.
- Aegis Scientific, Inc.
- Follett LLC
- Helmer Scientific
- Thermo Fisher Scientific
- Azbil Corporation
The key players are driving the biomedical refrigerators and freezers market through various strategies, including product innovation, expansion into emerging markets, and strategic partnerships. Their efforts are helping to meet the increasing demand for advanced cold storage solutions in healthcare, research, and biotechnology.
In the News
- In February 2024, The U.S. Environmental Protection Agency (EPA) officially certified Helmer Scientific GX Solutions Ultra-Low Temperature Freezers as achieving ENERGY STAR certification requirements for the High-Performance Laboratory Grade Freezer category.
- In September 2023, Haier Biomedical announced the release of the efficient TwinCool Frequency Conversion ULT Freezers, which are intended for clinical research, pharmaceutical, and public health laboratories to help keep samples safe and secure while reducing environmental impact.
Author Credits: Radhika Pawar
- Report ID: 886
- Published Date: Jan 09, 2025
- Report Format: PDF, PPT
