The blood bank refrigerators market share in US is expected to increase by USD 107.35 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 5.80%.

This blood bank refrigerators market research report of US provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers blood bank refrigerators market segmentation in US by product (standard electric refrigerators, solar-powered refrigerators, and ice-lined refrigerators) and end-user (hospitals and diagnostic centers, stand-alone blood bank centers, and others). The blood bank refrigerators market report of US also offers information on several market vendors, including B Medical Systems Sarl, Biomedical Solutions Inc., Cardinal Health Inc., Eppendorf AG, Haier Smart Home Co. Ltd., Helmer Scientific Inc., ilShin Lab Co Ltd., PHC Holdings Corp., The Middleby Corp., and Thermo Fisher Scientific Inc. among others.

What will the Blood Bank Refrigerators Market Size in US be During the Forecast Period?

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Blood Bank Refrigerators Market in US: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The rise in the number of road accidents and sports injuries is notably driving the blood bank refrigerators market growth in US, although factors such as the high cost of equipment may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the blood bank refrigerators industry in US. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Blood Bank Refrigerators Market Driver in US

• One of the key factors driving the global blood bank refrigerators industry growth is the rise in the number of road accidents and sports injuries.
• The number of accident cases and accidental injuries has increased, which is indicative of a large number of people who would require blood transfusions due to injuries sustained in automobile accidents. This, in turn, will lead to demand for blood bank refrigerators from hospitals, clinics, and blood banks to store the blood and blood components.
• The increasing incidence of road accident-related injuries and those sustained while playing sports or recreational activities signify that more people with blood loss, dislocations, and other injuries will require surgical procedures involving blood transfusions to aid in the recovery process. Hence, the market can be expected to grow steadily during the forecast period in the country.

Key Blood Bank Refrigerators Market Trend in US

• Increase in cancer incidence is one of the key blood bank refrigerators market trends that is expected to impact the industry positively in the forecast period. 
• Vendors in the market are striving hard to garner larger shares by offering additional software and hardware products to end-users. 
• The presence of software and hardware components makes it possible to cater to specific customer requirements and ensures the complete and safe documentation of temperature data, thus leading to increased adoption of blood bank refrigerators.
• Blood bank refrigerators work well in conjunction with these products, thereby pushing up their sales. Therefore, to make better and more efficient use of blood bank refrigerators, end-users will turn to software and hardware products

Key Blood Bank Refrigerators Market Challenge in US

• One of the key challenges to the global blood bank refrigerator industry's growth is the high cost of equipment.
• The high cost of advanced blood bank refrigerators for storing and transporting blood units is hampering their acceptability and adoption among end-users, especially small-scale blood banks and hospitals.
• The end-users must also spend on the maintenance of these refrigerators to ensure that they work efficiently, and without any breakdowns.
• The high cost of equipment will pose a challenge to the adoption of these products by end-users.
• Any technological innovations related to blood bank refrigerators solutions will have implications on their total cost and may eventually lead to lower adoption rates as many end-users may not purchase these solutions.
• End-users such as hospitals and diagnostic centers will either opt not to buy such high-cost devices or, in some cases, may delay their purchases. 

This blood bank refrigerators market analysis report of US also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the blood bank refrigerators market in US as a part of the global life science tools and services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the blood bank refrigerators market in US during the forecast period.

Who are the Major Blood Bank Refrigerators Market Vendors in US?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• B Medical Systems Sarl
• Biomedical Solutions Inc.
• Cardinal Health Inc.
• Eppendorf AG
• Haier Smart Home Co. Ltd.
• Helmer Scientific Inc.
• ilShin Lab Co Ltd.
• PHC Holdings Corp.
• The Middleby Corp.
• Thermo Fisher Scientific Inc.

This statistical study of the blood bank refrigerators market in US encompasses successful business strategies deployed by the key vendors. The blood bank refrigerators market in US is fragmented and the vendors are focusing on R&D activities for developing advanced, high-quality blood bank refrigerators to compete in the market.

Product Insights and News

• B Medical Systems Sarl - The company offers blood bank refrigerators such as B51, B131, B291 and other products.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The blood bank refrigerators market forecast report of US offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Blood Bank Refrigerators Market Value Chain Analysis in US

Our report provides extensive information on the value chain analysis for the blood bank refrigerators market in US, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the life sciences tools and services market includes the following core components:

• Research and development
• Inputs
• Production 
• Distribution
• Marketing and sales
• Post-sales and services
• Industry innovations

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

What are the Revenue-generating Product Segments in the Blood Bank Refrigerators Market in US?

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The blood bank refrigerators market share growth in US by the standard electric refrigerator segment will be significant during the forecast period owing to its early penetration in the US market. These conventional models were introduced decades ago and are more easily available than solar-powered and ice-lined refrigerators. Moreover, the stability of the electricity supply in the country ensures that these products function effectively and efficiently. The market will continue to grow for these products as a large number of prominent players in the market continue to offer standard electric refrigerators instead of the newer solar-powered and ice-lined refrigerators.

This report provides an accurate prediction of the contribution of all the segments to the growth of the blood bank refrigerators market size in US and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Blood Bank Refrigerators Market Report of US?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive blood bank refrigerators market growth in US during the next five years
• Precise estimation of the blood bank refrigerators market size in US and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of blood bank refrigerators market vendors in US

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