Medical Refrigerators Market Report 2025

This Medical Refrigerators market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The medical refrigerators market size has grown strongly in recent years. It will grow from $4.76 billion in 2024 to $5.12 billion in 2025 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to vaccine storage, blood bank expansion, pharmaceutical industry growth, regulatory compliance, medical research.

The medical refrigerators market size is expected to see strong growth in the next few years. It will grow to $7.47 billion in 2029 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to patient safety, point-of-care testing, biologics storage, pharmaceutical cold chain, sustainable refrigeration. Major trends in the forecast period include energy-efficient technologies, customized refrigeration solutions, advanced pharmaceuticals, remote temperature monitoring, biotechnology advancements.

The growing demand for the storage of biological products, blood samples, blood reagents, vaccines, DNA samples, and other chemicals is driving the expansion of the medical refrigerator market. This heightened demand for biological products is fueled by an increase in the need for donated blood, a rise in the number of blood donors globally, and a growing prevalence of infectious diseases. These items necessitate a stable temperature to preserve their quality and extend their shelf life, which medical refrigerators can provide, operating at temperatures as low as minus 80 degrees Celsius. For example, in March 2022, the National Blood Service, a Ghana-based blood transfusion services organization, reported that in 2021, a total of 173,938 units of blood were collected, up from 156,453 units in 2020. Therefore, the strong demand for biological materials such as blood samples, DNA samples, and vaccines is anticipated to support the growth of the medical refrigerator market during the forecast period.

The growing demand for vaccines is projected to drive the expansion of the medical refrigerators market in the future. Vaccines are biologically prepared substances that stimulate the immune system to generate a protective response against specific diseases, helping to prevent infections and enhance public health. Medical refrigerators play a vital role in hospitals by storing vaccines, ensuring their effectiveness and safe distribution, ultimately contributing to public health protection. They provide precise temperature control, preventing spoilage and facilitating timely vaccination programs. For instance, in July 2023, the United Nations Children's Fund, a U.S.-based agency of the United Nations, reported that in 2021, the coverage rate for the DTP3 vaccine was recorded at 81%. The following year, in 2022, there was a slight improvement, with the DTP3 vaccine coverage increasing to 84%. Thus, the rising demand for vaccines is propelling the growth of the medical refrigerators market.

Technological innovations are significantly influencing the medical refrigerator market. Numerous companies are creating new technologies for medical refrigerators used to store medicines and blood, assisting the medical industry in enhancing their storage capabilities and ensuring long-term product usage. For example, in April 2024, Thermo Fisher Scientific, a U.S.-based biotechnology company, introduced the TSX Universal Series ultra-low temperature (ULT) freezers, designed to improve performance and energy efficiency in cold storage. These state-of-the-art freezers can maintain temperatures ranging from -40°C to -86°C, making them ideal for storing sensitive materials such as biological samples and vaccines. The new series incorporates enhanced cooling technology, a user-friendly interface, and substantial energy savings of up to 33%. These advancements are aimed at helping laboratories meet their sustainability objectives while ensuring the reliability and quality of stored materials.

Major companies in the medical refrigerators market are concentrating on developing dual voltage freezers to enhance their competitive position. A dual voltage freezer is designed to operate at two different voltage levels, usually 110-120V and 220-240V, enabling it to function in regions with varying electrical standards. For example, in February 2024, PHC Corporation of North America, a U.S.-based manufacturer of laboratory equipment, launched the VIP ECO SMART ultra-low temperature (ULT) freezer series. The MDF-DU703VHA-PA is the first ULT freezer under the PHCbi brand to feature dual voltage capability, making it ideal for use in facilities like medical institutions, universities, and pharmaceutical companies. This capability allows laboratories to switch between 115V and 220V power sources while benefiting from the energy-efficient performance and advanced security features of the award-winning VIP ECO SMART series.

In October 2022, Azenta Inc. acquired B Medical Systems S.à R.L. for $468.7 million, enhancing Azenta's expertise in the cold chain and introducing solutions for the secure transport of temperature-sensitive samples. B Medical Systems S.à R.L., based in Luxembourg, is recognized for its provision of medical refrigerators.

Major companies operating in the medical refrigerators market include Thermo Fisher Scientific Inc., Blue Star Limited, Qingdao Haier Biomedical Co.Ltd., Helmer Scientific Inc., Vestfrost Solutions A/S, Zhongke Meiling Cryogenics Company Limited, Philips Kirsch GmbH, LEC Medical Ltd., Panasonic Corporation, Froilabo SAS, LabRepCo LLC, Aucma Company Limited, Standex International Corporation, Godrej Industries Ltd., Fiochetti SRL, PHC Holdings Corporation, Follett LLC, Labcold Ltd., Dulas Ltd., HMG India Pvt. Ltd., Felix Storch Inc., SO-LOW Environmental Equipment Co. Inc., Indrel d.o.o., Eppendorf AG, Migali Scientific, Liebherr-International Deutschland GmbH, Global Cooling Inc., Thalheimer Kühlung GmbH, Bionics Scientific Technologies Ltd., Desmon S.p.A.

North America was the largest region in the medical refrigerators market in 2024. The regions covered in the medical refrigerators market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the medical refrigerators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Medical refrigerators are electronic devices designed for the safe and cool storage of various samples. They play a critical role in preserving the integrity of items such as vaccines, blood, biological reagents, pharmaceuticals, flammable chemicals, ribonucleic acid (RNA), and deoxyribonucleic acid (DNA).

The primary types of medical refrigerators include blood bank refrigerators and plasma freezers, laboratory refrigerators and freezers, pharmacy refrigerators and freezers, chromatography refrigerators and freezers, enzyme refrigerators and freezers, ultra-low-temperature freezers, and cryogenic storage systems. Blood bank refrigerators, for instance, ensure the safety and accessibility of whole blood, blood components, and reagents, preserving the freshness and integrity of these materials. These medical refrigerators find application in various end-user settings, including blood banks, pharmaceutical companies, hospitals, pharmacies, research institutes, and medical and diagnostic centers. Medical refrigerators come in different designs, such as explosive-proof refrigerators, under-counter medical refrigerators, countertop medical refrigerators, and those specifically designed for storing flammable materials. The temperature range of medical refrigerators typically falls between 2 °C to 8 °C, 0 °C to -40 °C, and below -40 °C. The storage volume capacities of these refrigerators vary, ranging from below 50 liters, 50 to 200 liters, 200 to 400 liters, 400 to 600 liters, to more than 600 liters.

The medical refrigerators market research report is one of a series of new reports that provides medical refrigerators market statistics, including medical refrigerators industry global market size, regional shares, competitors with a medical refrigerators market share, detailed medical refrigerators market segments, market trends and opportunities, and any further data you may need to thrive in the medical refrigerators industry. This medical refrigerators market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The medical refrigerator market consists of sales of freeze dryers, ice lined refrigerator, blood bank refrigerators. Laboratory refrigerators, vaccine refrigerator, AND pharmaceutical refrigerators. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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