Asia Pacific Medical and Lab Refrigerator Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product Type (Blood Bank Refrigerators, Laboratory Refrigerators, Pharmacy Refrigerators, Enzyme Refrigerators, Others); End User (Blood Banks, Pharmaceutical Companies, Hospitals and Pharmacies, Research Institutes, Others), and Country
Market Introduction
This research report provides insights into the Asia Pacific Medical and Lab Refrigerator market. Medical refrigerators are designed to meet the temperature requirements for safe drug storage. Medical refrigerators are used to store vaccines, pharmaceuticals, chemotherapeutics, blood, plasma, and other samples that require tight temperature control. These are more reliable products for the storage of medicinal products as they emit less heat and less sound into the room.
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Market Overview and Dynamics
The Asia Pacific Medical and Lab Refrigerator is expected to reach US$ 913.50 million in 2027 from US$ 623.74 million in 2019; it is estimated to grow at a CAGR of 4.9% from 2020 to 2027. Government support for developing innovative medical products will further accelerate the growth of the business. For example, the Medical Device Directive of the Asia Pacifican Commission employed specific requirements and regulations for the biomedical freezers and refrigerators to protect blood and blood components from storage. Thus, contribute to the growth of the refrigerator market for medical and laboratory applications. Similarly, from 2013 to 2017, the growing investment in medical and health research and development (R&D) in the United States increased by $38.8 billion or 27 percent. The industry continues to invest more than any other sector, representing 67% of total spending in 2017, followed by 22% by the federal government. Federal investment grew from 2016 to 2017, the second year of growth following a 2014-2015 dip. Overall, from 2013 to 2017, federal investment increased by $6.1 billion or 18.4 percent, but growth across federal health agencies has been uneven. Medical and health R&D spending is expected to move upward in 2018 but will continue to fall short on the health and economic impact of primary health threats. In 2017, for example, the direct medical cost of just six chronic conditions – heart disease and stroke, cancer, diabetes, dental conditions, arthritis, and Alzheimer's disease – topped$1.1 trillion, more than six times total medical and health R&D spending that year. This shows the growing need for investments in medical science. Nearly 130,000 people in the United States die at the age of 45 each year because of health threats, which through more significant investment in R&D can help to understand better and ultimately prevent. The growing investment in medical science provides opportunities for growth in the medical and laboratory refrigerator market in the coming years.
Key Market Segments
In terms of product type, the blood bank refrigerator segment held the largest share of the market in 2019; and also is anticipated to register the highest CAGR in the market during the forecast period. The increasing number of road accidents worldwide is one of the significant factors propelling the demand for blood from blood banks and thus increasing the market for blood bank refrigerators. In terms of end use, the pharmaceuticals companies segment held a larger share of the market in 2019 and also is estimated to register a higher market share in the market during the forecast period
Major Sources and Companies Listed
The World Health Organization (WHO), Food and Drug Administration (FDA), are some of the major primary and secondary sources for the Asia Pacific Medical and Lab Refrigerator market included in the report.
Reasons to buy the report
- To understand the Asia Pacific Medical and Lab Refrigerator market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for the Asia Pacific Medical and Lab Refrigerator market
- Efficiently plan M&A and partnership deals in the Asia Pacific Medical and Lab Refrigerator market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form the Asia Pacific Medical and Lab Refrigerator market
- Obtain market revenue forecast for market by various segments from 2019 to 2027 in the region
Asia Pacific Medical and Lab Refrigerator Market Segmentation
- Blood Bank Refrigerators
- Laboratory Refrigerators
- Pharmacy Refrigerators
- Enzyme Refrigerators
- Others
- Blood Banks
- Pharmaceutical Companies
- Hospitals and Pharmacies
- Research Institutes
- Others
Company Profiles
- ZhongkeMeiling Cryogenics Company Limited
- Felix Storch, Inc
- Follett LLC
- Helmer Scientific Inc.
- Haier Biomedical
- Lec Medical
- Philipp Kirsch GmbH
- Thermo Fisher Scientific Inc.
- Vestfrost Solutions
- Blue Star Limited
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Medical and Lab Refrigerator Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Asia-Pacific
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Medical and Lab Refrigerator Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Demand for Blood Storage Centers and Blood Banks
5.1.2 Increasing Number of Accidents, Surgery Interventions, and others
5.2 Market Restraints
5.2.1 Increasing Preference for Refurbished Equipment
5.3 Market Opportunities
5.3.1 Increasing Research & Development Investments in Medical Science by Government Organizations
5.4 Future Trends
5.4.1 Technological Advancements in Medical Refrigerators
5.5 Impact Analysis of Drivers and Restraints
6. Medical and Lab Refrigerator Market Analysis – By Product Type
6.1 Overview
6.2 Medical and Lab Refrigerator Market, By Product Type (2019 and 2027)
6.3 Blood Bank Refrigerators
6.3.1 Overview
6.3.2 Blood Bank Refrigerators: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
6.4 Laboratory Refrigerators
6.4.1 Overview
6.4.2 Laboratory Refrigerators: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
6.5 Pharmacy Refrigerators
6.5.1 Overview
6.5.2 Pharmacy Refrigerators: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
6.6 Enzyme Refrigerators
6.6.1 Overview
6.6.2 Enzyme Refrigerators: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
6.7 Others
6.7.1 Overview
6.7.2 Others: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
7. Medical and Lab Refrigerator Market Analysis – By End-user
7.1 Overview
7.2 Medical and Lab Refrigerator Market, By End-user (2019 and 2027)
7.3 Blood Bank
7.3.1 Overview
7.3.2 Blood Bank: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
7.4 Pharmaceutical Companies
7.4.1 Overview
7.4.2 Pharmaceutical Companies: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
7.5 Hospitals and Pharmacies
7.5.1 Overview
7.5.2 Hospitals and Pharmacies: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
7.6 Research Institutes
7.6.1 Overview
7.6.2 Research Institutes: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
7.7 Others
7.7.1 Overview
7.7.2 Others: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
8. Medical and Lab Refrigerator Market – Geographic Analysis
8.1 Asia-Pacific: Medical and Lab Refrigerator Market
8.1.1 Asia-Pacific: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
8.1.2 Asia-Pacific: Medical and Lab Refrigerator Market, by Product Type
8.1.3 Asia-Pacific: Medical and Lab Refrigerator Market, by End-user
8.1.4 Asia-Pacific: Medical and Lab Refrigerator Market, by Key Country
8.1.4.1 China: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
8.1.4.1.1 China: Medical and Lab Refrigerator Market, by Product Type
8.1.4.1.2 China: Medical and Lab Refrigerator Market, by End-user
8.1.4.2 Japan: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
8.1.4.2.1 Japan: Medical and Lab Refrigerator Market, by Product Type
8.1.4.2.2 Japan: Medical and Lab Refrigerator Market, by End-user
8.1.4.3 India: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
8.1.4.3.1 India: Medical and Lab Refrigerator Market, by Product Type
8.1.4.3.2 India: Medical and Lab Refrigerator Market, by End-user
8.1.4.4 Australia: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
8.1.4.4.1 Australia: Medical and Lab Refrigerator Market, by Product Type
8.1.4.4.2 Australia: Medical and Lab Refrigerator Market, by End-user
8.1.4.5 South Korea: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
8.1.4.5.1 South Korea: Medical and Lab Refrigerator Market, by Product Type
8.1.4.5.2 South Korea: Medical and Lab Refrigerator Market, by End-user
8.1.4.6 Rest of APAC: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
8.1.4.6.1 Rest of APAC: Medical and Lab Refrigerator Market, by Product Type
8.1.4.6.2 Rest of APAC: Medical and Lab Refrigerator Market, by End-user
8.2 Impact of COVID-19 Pandemic on Asia Pacific medical and lab refrigerator Market
9. Asia-Pacific: Impact Assessment of COVID-19 Pandemic
10. Key Company Profiles
10.1 ZhongkeMeiling Cryogenics Company Limited
10.1.1 Key Facts
10.1.2 Business Description
10.1.3 Products and Services
10.1.4 Financial Overview
10.1.5 SWOT Analysis
10.1.6 Key Developments
10.2 Felix Storch, Inc.
10.2.1 Key Facts
10.2.2 Business Description
10.2.3 Products and Services
10.2.4 Financial Overview
10.2.5 SWOT Analysis
10.2.6 Key Developments
10.3 Follett LLC
10.3.1 Key Facts
10.3.2 Business Description
10.3.3 Products and Services
10.3.4 Financial Overview
10.3.5 SWOT Analysis
10.3.6 Key Developments
10.4 Helmer Scientific Inc.
10.4.1 Key Facts
10.4.2 Business Description
10.4.3 Products and Services
10.4.4 Financial Overview
10.4.5 SWOT Analysis
10.4.6 Key Developments
10.5 Haier Biomedical
10.5.1 Key Facts
10.5.2 Business Description
10.5.3 Products and Services
10.5.4 Financial Overview
10.5.5 SWOT Analysis
10.5.6 Key Developments
10.6 Lec Medical
10.6.1 Key Facts
10.6.2 Business Description
10.6.3 Products and Services
10.6.4 Financial Overview
10.6.5 SWOT Analysis
10.6.6 Key Developments
10.7 Philipp Kirsch GmbH
10.7.1 Key Facts
10.7.2 Business Description
10.7.3 Products and Services
10.7.4 Financial Overview
10.7.5 SWOT Analysis
10.7.6 Key Developments
10.8 Thermo Fisher Scientific Inc.
10.8.1 Key Facts
10.8.2 Business Description
10.8.3 Products and Services
10.8.4 Financial Overview
10.8.5 SWOT Analysis
10.8.6 Key Developments
10.9 Vestfrost Solutions
10.9.1 Key Facts
10.9.2 Business Description
10.9.3 Products and Services
10.9.4 Financial Overview
10.9.5 SWOT Analysis
10.9.6 Key Developments
10.10 Blue Star Limited
10.10.1 Key Facts
10.10.2 Business Description
10.10.3 Products and Services
10.10.4 Financial Overview
10.10.5 SWOT Analysis
10.10.6 Key Developments
11. Appendix
11.1 About The Insight Partners
11.2 Word Index
LIST OF TABLES
Table 1. Asia-Pacific: Medical and Lab Refrigerator Market, by Product Type – Revenue and Forecast to 2027 (US$ Million)
Table 2. Asia-Pacific: Medical and Lab Refrigerator Market, by Product Type – Revenue and Forecast to 2027 (US$ Million)
Table 3. China: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)
Table 4. China: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)
Table 5. Japan: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)
Table 6. Japan: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)
Table 7. India: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)
Table 8. India: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)
Table 9. Australia: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)
Table 10. Australia: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)
Table 11. South Korea: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)
Table 12. South Korea: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)
Table 13. Rest of APAC: Medical and Lab Refrigerator Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)
Table 14. Rest of APAC: Medical and Lab Refrigerator Market, by End-user –Revenue and Forecast to 2027 (US$ Million)
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. Medical and Lab Refrigerator Market Segmentation
Figure 2. Medical and Lab Refrigerator Market Segmentation – By Geography
Figure 3. Asia Pacific medical and lab refrigerator Market Overview
Figure 4. Asia Pacific medical and lab refrigerator Market – Strategy Analysis
Figure 5. Asia Pacific medical and lab refrigerator Market – Product Type Analysis
Figure 6. Asia Pacific medical and lab refrigerator Market – End-user Analysis
Figure 7. Asia-Pacific – PEST Analysis
Figure 8. Medical and Lab Refrigerator Market – Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. Medical and Lab Refrigerator Market Impact Analysis of Drivers and Restraints
Figure 11. Medical and Lab Refrigerator Market Revenue Share, by Product Type (2019 and 2027)
Figure 12. Blood Bank Refrigerators: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 13. Laboratory Refrigerators: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 14. Pharmacy Refrigerators: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 15. Enzyme Refrigerators: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 16. Others: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 17. Medical and Lab Refrigerator Market Revenue Share, by End-user (2019 and 2027)
Figure 18. Blood Bank: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 19. Pharmaceutical Companies: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 20. Hospitals and Pharmacies: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 21. Research Institutes: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 22. Others: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 23. Asia-Pacific: Medical and Lab Refrigerator Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. Asia-Pacific: Medical and Lab Refrigerator Market Revenue Share, by Product Type (2019 and 2027)
Figure 25. Asia-Pacific: Medical and Lab Refrigerator Market Revenue Share, by End-user (2019 and 2027)
Figure 26. Asia-Pacific: Medical and Lab Refrigerator Market Revenue Share, by Key Country (2019 and 2027)
Figure 27. China: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 28. Japan: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 29. India: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 30. Australia: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 31. South Korea: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 32. Rest of APAC: Medical and Lab Refrigerator Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 33. Impact of COVID-19 Pandemic in Asia Pacific Markets
The List of Companies - Asia Pacific Medical and Lab Refrigerator Market
- ZhongkeMeiling Cryogenics Company Limited
- Felix Storch, Inc
- Follett LLC
- Helmer Scientific Inc.
- Haier Biomedical
- Lec Medical
- Philipp Kirsch GmbH
- Thermo Fisher Scientific Inc.
- Vestfrost Solutions
- Blue Star Limited
- To understand the Asia Pacific Medical and Lab Refrigerator market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for the Asia Pacific Medical and Lab Refrigerator market
- Efficiently plan M&A and partnership deals in the Asia Pacific Medical and Lab Refrigerator market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form the Asia Pacific Medical and Lab Refrigerator market
- Obtain market revenue forecast for market by various segments from 2019 to 2027 in the region