NEW YORK, Dec. 24, 2021 /PRNewswire/ --
Blood Bank Refrigerators Market in US Facts at a Glance-
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According to the recent market study by Technavio, the Blood Bank Refrigerators Market in the US is expected to increase by USD 107.35 million from 2020 to 2025, with an accelerated CAGR of 5.80%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
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Vendor Insights-
The Blood Bank Refrigerators Market in the US is fragmented, and the vendors are deploying growth strategies such as focusing on product delivery through multiple distribution channels to compete in the market.
For instance, B Medical Systems Sarl, one of the leading companies offers blood bank refrigerators such as B51, B131, B291, and other products.
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Revenue Generating Segment Market Outlook
The blood bank refrigerators market in us share growth by the standard electric refrigerator segment will be significant for revenue generation. The standard electric refrigerator segment held a prominent share in the market owing to its early penetration in the US market. These conventional models have introduced some decades ago and are more easily available than solar-powered and ice-lined refrigerators. Moreover, the stability of the electricity supply in the country ensures that these products function effectively and efficiently.
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Latest Drivers & Trends Driving the Market-
Road accidents and injuries sustained by individuals while playing sports are two of the major factors contributing to the rising number of surgeries that require the use of donor blood to replace the blood lost by patients in the country. Some of these injuries result in dislocations or high blood loss, thus making it necessary for patients to undergo surgeries requiring the use of stored blood. The surgical process involves the transfusion of blood from blood bags that are stored in blood bank refrigerators to preserve them. Many road accident injuries also result in upper limb and lower limb dislocations or fractures and loss of blood, which require surgeries and blood transfusions. The number of accident cases and accidental injuries has increased, which is indicative of a large number of people who would require blood transfusions due to injuries sustained in automobile accidents. This, in turn, will lead to demand for blood bank refrigerators from hospitals, clinics, and blood banks to store the blood and blood components
The high cost of advanced blood bank refrigerators for storing and transporting blood units is hampering their acceptability and adoption among end-users, especially small-scale blood banks and hospitals. Apart from the high product costs, end-users must also spend on the maintenance of these refrigerators to ensure that they work efficiently, without any breakdowns. The high cost of equipment will pose a challenge to the adoption of these products by end-users. Further, with a user equipment life of 8-10 years and a high initial cost, the probability of replacement purchases is extremely low, leading to a relatively small replacement market.
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Blood Bank Refrigerators Market In US Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of almost 5.80% |
Market growth 2021-2025 |
USD 107.35 million |
Market structure |
Fragmented |
YoY growth (%) |
5.40 |
Performing market contribution |
US at 100% |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
B Medical Systems Sarl, Biomedical Solutions Inc., Cardinal Health Inc., Eppendorf AG, Haier Smart Home Co. Ltd., Helmer Scientific Inc., ilShin Lab Co Ltd., PHC Holdings Corp., The Middleby Corp., and Thermo Fisher Scientific Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
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Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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