Increase in incidents of chronic diseases, high-end technical advancements, rise in awareness about the technique, and surge in government initiatives toward plasma donation fuel the growth of the global medical thawing system market.
Increase in incidents of chronic diseases, high-end technical advancements, rise in awareness about the technique, and surge in government initiatives toward plasma donation fuel the growth of the global medical thawing system market.
Global Medical Thawing System Market was estimated at $165.82 million in 2019 and is expected to hit at $279.17 million by 2027, registering a CAGR of 11.6% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Increase in incidents of chronic diseases, high-end technical advancements, rise in awareness about the technique, and surge in government initiatives toward plasma donation fuel the growth of the global medical thawing system market. On the other hand, increase in launches of medical thawing system and rise in number of embryo donor’s further fuel the growth. However, high cost of the automation impedes the growth to some extent. Nevertheless, growing need for new medicinal inventions to push adoption of thawing systems is projected to pave the way for novel opportunities in the industry.
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Covid-19 scenario:-
- The outbreak of the pandemic made government bodies across the globe impose several rules and lockdowns, which led to postponement of non-emergency surgical procedures and in-hospital therapies. This factor impacted the medical thawing system market negatively.
- On the other hand, thawing played a vital part in drug discovery and research & development during the preparations of covid-19 drugs/vaccines.
The blood segment to maintain its leadership status during the forecast period:-
By sample type, the blood segment accounted for the highest market share, contributing to more than half of the global medical thawing system market in 2019, and is estimated to maintain its leadership status during the forecast period. This is due to increasing demand for blood and blood products and rising incidence of hemorrhage related events. However, the embryo segment is expected to manifest the highest CAGR of 12.4% from 2020 to 2027, owing to increase in pregnancy rate and live birth rate due to embryo donation. Furthermore, the increasing adoption of in vitro fertilization (IVF) treatment for infertility boosts the demand for advanced thawing systems.
The blood bank segment to maintain its dominance during the forecast period:-
Based on end user, the blood bank segment contributed to the largest market share in 2019, accounting for more than one-third of the global medical thawing system market, and is projected to maintain its dominance in terms of revenue during the forecast period. This is due to increase in dominance because of vast utilization of thawing systems in these transfusion centers and blood banks. Moreover, the tissue banks segment is projected to register the fastest CAGR of 13.1% from 2020 to 2027. Tissues banks are considered institutions that recover and store human cadaver tissues for medical studies and education. This drives the growth of the segment.
North America to maintain its lead position by 2027:-
By region, North America held the highest market share in 2019, accounting for nearly two-fifths of the global medical thawing system market, and is estimated to maintain its lead position by 2027. This is due to high rate of adoption, increase in awareness programs about blood donation and plasma donation. However, the Asia-Pacific region is projected to maintain the highest CAGR of 13.7% during the forecast period. Asia-Pacific have a large patient pool with a high incidence of chronic diseases. Which increases the demand for thawing systems.
Leading Market Players:-
- Barkey GmbH & Co. KG
- Boekel Scientific
- BioLife Solutions Inc
- Cardinal Health, Inc.
- General Electric Company
- Helmer Scientific
- Sartorius AG
- Sarstedt AG & Co. KG
- Terumo Corporation
- Thermo Fisher Scientific Inc.
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