The U.S. biomedical refrigerators and freezers market is likely to garner considerable revenue growth on account of rising product demand across diagnostic centers, research labs, and blood banks. These devices provide an optimal environment for long-term storage of biological samples.

They are primarily used in healthcare vicinities for storing chemical and biological samples like deoxyribonucleic acid (DNA), derivatives of blood, ribonucleic acid (RBA), biological reagents, vaccines, medicines, and flammable chemicals. Rapid development activities in the healthcare sector coupled with growing prevalence of multiple health conditions among the population could drive the demand for biomedical refrigerators and freezers across the United States.

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Mentioned below are a few of the trends that may foster U.S. biomedical refrigerators and freezers industry growth:

1)         Escalating demand for lab freezers-

Lab freezers are critical for cooling and storing specimens and samples for preservation. They are used as refrigeration units for storing blood derivatives like blood plasma, as well as other medical supplies such as vaccines, or pharmaceuticals. Studies suggest that that the lab freezers segment could show robust growth in the coming years. On the other hand, plasma freezers are expected to register noteworthy growth in the US, adding to its 2019 valuation of over US$315 million.

2)         Increasing demand across the pharmaceutical sector-

Biomedical refrigerator plays a significant role in pharmacies owing to its ability to offer efficient storage for vaccines, compound sterile preparations, and pharmaceuticals. Over the years, the segment accounted for a major section of market’s revenue share and is set to register a compound annual growth rate of 2.6% within the predicted timeframe. Medical-grade refrigerators are commonly found in retail establishments, community pharmacies, and hospitals.

Meanwhile, ongoing investments across diagnostic centers to develop new and advanced drugs could massively benefit the biomedical refrigerators and freezers market growth. Studies suggest that diagnostic centers are expected to control a substantial revenue share of the U.S. biomedical refrigerators and freezers market by 2026. These facilities heavily rely on biomedical freezers as they are supremely reliable and offer tremendous storage for biological specimens.

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3)         Adoption of lucrative business strategies-

Rapid technological developments across medical-grade refrigeration systems could strengthen the business outlook of biomedical refrigerators and freezer suppliers. As a result, numerous manufacturers are concentrating on integrating advanced technological solutions into their refrigeration devices to enhance customer experience and make them suitable for a number of diverse biomedical applications.

Industry players are also implementing various expansion strategies to enhance their geographical presence. Taking May 2018 for instance, Liebherr Group’s domestic appliances division strengthened its footholds in Asia by opening a new facility in India. Reportedly, the new facility would help the company to ramp up the production of high-quality freezers and refrigerators for the Indian market.