Global Biomedical Refrigerators, Freezers Market is expected to grow at a CAGR of 5% to reach US$ XX billion in 2026.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The growth is coupled with increasing demand for blood transfusions, custom-made medicines and vaccines, and cellular therapies. In addition, rising research and development activities in the field of medical science are driving the acceptance of biomedical refrigerators and freezers in research and educational institutes. Also, with increased funding from various sources and R&D activities in the pharmaceutical sector up-surged the use of biomedical refrigerators and freezers.
With rapid technological advancement and with augmentation of various technological and infrastructural up gradation of clinics, hospitals and research laboratories, the Global Biomedical Refrigerators, Freezers Market is expected to have a substantial growth in the forecast period
North America accounts for the largest share of the global biomedical refrigerators and freezers market and is expected to dominate the market in the forecast period. Factors contributing to the growth of Global Biomedical Refrigerators, Freezers Market in North America are the presence of a considerable number of healthcare facilities and the rising demand for this equipment.