U.S. Biomedical Refrigerators and Freezers Market Size By Product (Plasma Freezers, Blood Bank Refrigerators, Lab Refrigerators, Lab Freezers, Ultra-low Temperature Freezers, Shock Freezers), By End-use (Blood Banks, Pharmacies, Hospitals, Research Labs,

U.S. Biomedical Refrigerators and Freezers Market Size By Product (Plasma Freezers, Blood Bank Refrigerators, Lab Refrigerators, Lab Freezers, Ultra-low Temperature Freezers, Shock Freezers), By End-use (Blood Banks, Pharmacies, Hospitals, Research Labs, Diagnostic Centres), Country Outlook, Industry Analysis Report, Growth Potential, Competitive Market Share & Forecast, 2023 - 2032


U.S. Biomedical Refrigerators and Freezers Market is poised to grow significantly through 2032, owing to the increasing demand for organ transplantation and biopharmaceuticals. As per primary data from the Organ Procurement and Transplantation Network, 41,354 organ transplants were performed in the U.S.A. in 2021, which increased by 5.9%, compared to the figures of 2020. The report also claimed that 2021 was the first year to have witnessed over 40,000 organ transplants nationwide.

Besides, substantial research is being carried out by bio-pharmaceutical companies, whose supply chains have ensured tax revenues, high-wage jobs, and sustained economic outcomes in the country. These research initiatives demand the availability of biomedical refrigerators and freezers, and this factor will also drive the market progression through 2023-2032. According to a report, the investment made by the biopharmaceutical industry is more than 13 times compared to other industries, and it employs the largest number of R&D workers in the U.S.A.

In addition, major key providers in the U.S. Biomedical Refrigerators and Freezers industry are entering meaningful mergers and acquisitions, along with expanding their portfolio to strengthen their business operations. To cite an instance, in August 2022, Antech revealed its cryogenic freezer LN2 Cryogenic Storage, which can be used to store biobank vapor and blood bank. As per company claims, the system can be used to store bone marrow, cornea, blood vessels, microbial strains, and special vaccines.

Overall, the U.S. biomedical refrigerators and freezers market is segmented in terms of product and end-use.

On the basis of product, the plasma freezers segment recorded more than USD 375 million revenue share in 2022 and is expected to witness rapid growth over the next ten years. The segmental growth can be attributed to the rising cases of cancer in the U.S.A. According to the Centers for Disease Control and Prevention’s latest statistics, in 2019, a total of 1,752,735 cancer cases were reported in the United States. The report also claimed that 439 cancer cases were reported against 100,000 people in the country.

Based on end-use, the pharmacies segment is set to witness steady growth through 2032. The segment was valued at more than USD 150 million in 2022 and is anticipated to rise further over the projected time. The growth is likely to come from the expanding demand for biopharmaceutical products and the increasing commercialization of biomedical freezers and refrigerators in the pharmacy sector. For instance, in 2020, while the pharmaceutical market in the U.S. accounted for almost 48% of the total pharmaceutical market in the world, the country is projected to spend more than USD 600 million on medicine in 2025.