The global cold storage equipment for healthcare market is expected to grow at a CAGR of 18.1 % during the forecast period. Healthcare as a sector has seen an influx of various products and services that utilize numerous technologies for enhanced care provision. Medical researchers have been working with end users (hospitals, clinics, and primary care centers among others) in order to develop noble technologies that can be applied to the creation of products that help in working with numerous conditions and disorders.
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Market participants in the healthcare sector have been paying attention on the adoption of trends from various end users in order to strategize their investments towards product development and production. Notable areas for investments from companies in the medical industry are seen to be diagnostics, treatment, operative procedures, packaging, and distribution, among others. The packaging and storage processes have been a key area for advancements in the healthcare sector over the years. Cold storage of various products used in the medical institutions has been observed to be growing in recent years. The growing applications of cold storage across the products used in healthcare have made various institutions to invest towards strengthening their storage infrastructure across their facilities. Cold Storage Equipment for Healthcare Market participants have developed numerous methods and products that help medical institutions in storing products at lower temperatures for further operations. The concept of customized products is expected to grow over the near future owing to varying requirements of medical facilities which are spread across various regions.
The growing concerns related to the novel coronavirus had created an increase in stress on the overall healthcare infrastructure across various countries. The healthcare sector has been working on understanding the effects of the disease and the development of a potential vaccine for the disorder. The efforts of various organizations in the public and private domain have led to certain products that can work as a vaccine against the virus causing the disease. The concerns primarily seen in the deployment of the vaccines include the low temperature for storage of the vaccines coupled with temperature control for the vaccines during transportation. The demand for cold storage equipment which can help in maintaining the integrity of the vaccines for the transportation and storage is hence, expected to grow in the current year along with the near future. Furthermore, the Cold Storage Equipment for Healthcare Market offerings are also seen to be applicable for similar cases in the future. The advancements in cold storage technologies are expected to aid the growth of the market over the forecast period.
The detailed research study provides qualitative and quantitative analysis of cold storage equipment for healthcare market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Key Findings of the Report:
- Based on the modes of distribution for Cold Storage Equipment for Healthcare Market offerings, distributors and suppliers are seen to be the significant revenue contributors for the market. The contractual partnerships among hospitals and clinics with the distribution network companies and market participants have been key factors for the growing adoption of this mode of distribution. In addition to this, the efforts of market participants towards supplier improvements have resulted in improved customer relations for the market. This has also led to a positive trend in terms of adoption for market offerings on the global scale.
- Based on the types of equipment provided for cold storage applications in the healthcare sector, refrigeration equipment has been observed to generate the maximum revenue for the Cold Storage Equipment for Healthcare Market in the recent years. The growing demand for products has been seen to be owing to the advancements in the background technology for the refrigeration process along with improvements in efficiency for the market offerings. Furthermore, the growing number of products and substances requiring cold storage has also contributed to the rise in adoption and in turn, the revenue for the segment in the market. Transport chests are expected to be a notable investment area among end users including hospitals, clinics, and research centers, among others. The potential application of the products for the storage of vaccines which can help in curbing various diseases can play a key role in influencing the adoption levels for the market offerings across numerous countries.
- The regional adoption of cold storage equipment for the healthcare industry has been growing over the years owing to improvements in the overall healthcare infrastructure across numerous countries. Furthermore, advancements in the supply chain operations for medical and pharmaceutical products has created a positive trend in terms of demand for various Cold Storage Equipment for Healthcare Market offerings. The region of Asia Pacific is expected to play a key role in terms of revenue contribution for the market in the near future. Key factors for the expectation are considered to be the growing investments in the healthcare sector from public and private organizations. Also, the rising focus towards advanced treatment methods for various ailments requiring support for cold storage of products is termed to be a conducive factor for the growth in demand for the market offerings across the region.
- The major players operating in the Cold Storage Equipment for Healthcare Market include Antech Group, Cardinal Health, CRS Mobile Cold Storage, Desmon Scientific, Henry Schein, Inc, Kenyon, LEEC, Meling Biomedical, Shanghai Hao Cool Industries Co.,Ltd, Thermo Fisher Scientific, Thermo King, by Trane Technologies, and Tritec among others.
Global Cold Storage Equipment for Healthcare Market:
- By Distribution Channel
- Direct Sales
- Distributors/Suppliers
- By Type
- Laboratory Refrigerators
- Refrigeration Equipment
- Condensing Units
- Air Cooler Series
- Compressor
- General Purpose Refrigeration
- Freezers
- Walk-in Refrigerators
- Pharmacy Refrigerators
- Accessories for Premier Refrigerators and Freezers
- Ultra-Low Temperature Freezers
- Hard Cased Transport Chests and Cold Boxes
- Undercounter Refrigerators
- Temperature Data Loggers and Remote Monitoring Solutions
- Combination Units
- Others
- By Product Type
- Critical Samples
- Reagents
- Vaccines
- mRNA Vaccine
- Viral Vector Vaccine
- Inactivated Virus Vaccine
- Protein Vaccine
- Others
- Blood
- Drugs
- Placenta, Sperm Stem Cells and Bone Marrow
- Plasma
- Nutritional Preserving
- Other Temperature-Sensitive Items
- By Geography
- North America
- U.S
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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