Biomedical Warming and Thawing Devices Market to Reach USD 376.7 Million, Globally, by 2031 at 9.1% CAGR: Allied Market Research

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Sep 08, 2022, 20:30 ET

PORTLAND, Ore., Sept. 9, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Biomedical Warming and Thawing Devices Market by Product (Manual, Automatic), by Sample Type (Blood Product, Stem cell, Embryo, Ovum, Others), by End User (Biotechnology and Pharmaceutical Companies, Hospitals and Diagnostic Laboratories, Blood Banks and stem cell banks): Global Opportunity Analysis and Industry Forecast, 2022-2031." According to the report, the global biomedical warming and thawing devices industry generated $159.3 million in 2021, and is estimated to reach $376.7 million by 2031, witnessing a CAGR of 9.1% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

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Drivers and Opportunities

Growing number of blood banks and blood infusion centers, rise in the number of road accidents and trauma cases, increase in blood-related disorders, and surge in adoption of in-vitro fertilization fuel the growth of the global biomedical warming and thawing devices market. However, concerns regarding large batch sizes and strict regulatory guidelines relating to the use of cryopreserved and thawed biomedical products hinder the market growth. On the other hand, rise in the number of R&D activities, increase in use of biomedical warming and thawing devices in biotechnology and pharmaceutical companies, technological advancement in the healthcare sector, and rise in expenditure by government to develop healthcare infrastructure present new opportunities in the market.

Covid-19 Scenario

The outbreak of the COVID-19 pandemic hampered the growth of the global biomedical warming and thawing devices market.
Due to strict laws and lockdown rules, there were less road traffic accidents, reduced number of blood donation campaigns, and less number of in-vitro fertilization cases, which hindered the growth of biomedical warming and thawing device market.
Conversely, with the pandemic receding, companies in the space began their operations at their full swing and the market is in the path of recovery.

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The automatic segment to dominate the market in terms of revenue during the forecast period

Based on product, the automatic segment contributed to the largest share of nearly three-fourths of the global biomedical warming and thawing devices market in 2021, and is expected to rule the roost during the forecast period. Moreover, the same segment is projected to witness the fastest CAGR of 9.3% from 2022 to 2031, owing to increase in the usage of automatic warming and thawing device for storage of cryopreserved items and the effectiveness of the devices to store them.

The blood product segment to maintain its lion's share during the forecast period

Based on sample type, the blood product segment held the largest share of more than two-fifths of the global biomedical warming and thawing devices market in 2021, and is expected to maintain a prominent growth during the forecast period. Moreover, the same segment is likely to exhibit the highest CAGR of 9.9% in 2031. This is due to increase in the blood donation activity, rise in the prevalence of blood disorders, and increase in the number of blood banks.

The biotechnology and pharmaceutical companies segment to maintain its lion's share during the forecast period

Based on end user, the biotechnology and pharmaceutical companies segment held the largest share of more than two-fifths of the global biomedical warming and thawing devices market in 2021, and is expected to maintain a noteworthy growth during the forecast period. Moreover, the same segment is likely to exhibit the highest CAGR of 9.4% in 2031. This is due to the rise in number of pharmaceutical companies and increase in initiatives taken by governments to develop the healthcare infrastructure.

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Asia-Pacific to achieve the fastest growth by 2031

Based on region, Asia-Pacific is anticipated to manifest the fastest CAGR of 10.0% during the forecast period, 2022-2031, owing to increase in the activity of blood donation, rise in the number of blood banks and blood transfusion centers, and increase in expenditure by governments to develop the healthcare sector in the region. However, North America held the largest market share in 2021, accounting for more than one-third of the global biomedical warming and thawing devices market, and is likely to lead the trail throughout the forecast period, owing to the presence of key players and technological advancement in the healthcare sector in the region.

Leading Market Players

Barkey GmbH & Co. Kg
Boekel Scientific
Cardinal Health
Conroy Medical AB.
Cytiva
CytoTherm
Eppendorf
Farrar Scientific
Fisher Scientific PTE LTD (Thermo Fisher Scientific)
FreMon Scientific, Inc.
GE Helmer Scientific
KW Apparecchi Scientifici
Sarstedt AG & Co. KG
Sartorius AG
Thaw World Medical Ltd

Official Press Release- https://www.alliedmarketresearch.com/press-release/biomedical-warming-and-thawing-devices-market.html

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