US - Blood Bank Refrigerators Market by Product and End-user - Forecast and Analysis 2024-2028

Published: Oct 2023 Pages: 146 SKU: IRTNTR45126

US- Blood Bank Refrigerators Market Report 2024-2028

The US- blood bank refrigerators market size is estimated to grow by USD 133.85 million accelerating at a CAGR of 6.28% between 2023 and 2028. 

Key Findings:

  • The blood bank refrigerators market in US remained historically at high levels from 2018 to 2023.
  • The market is segmented into End-user, Product, and Type.
  • Hospitals and diagnostic centers segment under the end-user subsegment generated the largest revenue in 2018.

US Blood Bank Refrigerators Market Share

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

Our research team conducted an analysis based on 2023, incorporating key drivers, trends, and challenges. A comprehensive review of the drivers will empower companies to enhance their marketing strategies, gaining a competitive advantage.

Key Blood Bank Refrigerators Market In US Driver

The rise in the number of road accidents and sport injuries is a key driver boosting the market growth. The surge in surgeries requiring donor blood, particularly due to road accidents and sports-related injuries, is propelling the demand for blood bank refrigerators. These surgeries, necessitated by dislocations and significant blood loss, involve the transfusion of stored blood from blood bank refrigerators. In the U.S., road accidents, a major contributor to these injuries, resulted in 5,250,837 collisions in 2020 alone, according to the CDC. The escalating cases of accident-related injuries underscore the growing need for blood transfusions, indicating a steady market growth for blood bank refrigerators in hospitals, clinics, and blood banks.

Key Blood Bank Refrigerators Market In US Trends

The presence of value-added software and hardware products is one of the major US blood bank refrigerators market trends. Market vendors are vying for larger market shares by expanding their product offerings, with companies like B Medical Systems introducing software and hardware products. An example is the Data Monitoring Network (DMN), a software providing temperature data collection, recording, and visualization, offering advantages like integrated event history, simultaneous monitoring, and configurable alarm forwarding. This software eliminates the need for regular changes in recorder paper, ink, and battery, leading to cost and time savings.

Similarly, the Data Communication Unit (DCU) records operating conditions and sends them to a central database, enhancing flexibility in upgrades. The synergy of these software and hardware components addresses specific customer needs, ensuring secure temperature data documentation and driving increased adoption of blood bank refrigerators. As end-users seek more efficient use of blood bank refrigerators, the market is poised for growth during the forecast period.

Major Blood Bank Refrigerators Market Challenge

The high cost of blood bank refrigerators is a key challenge hindering the market growth. The highly regulated US healthcare sector demands compliance at every stage, causing time and cost challenges in product development. Blood bank refrigerators, crucial for storing temperature-sensitive blood, face limited acceptance due to their high costs, ranging from USD 4,000 to USD 15,000. Maintenance expenses further hinder adoption, especially among smaller blood banks and hospitals.

The high initial cost, coupled with a lifespan of 8-10 years and a small replacement market, poses obstacles to widespread use. The financial models of blood banks, dependent on donations, limit purchasing decisions, and any technological innovations impacting total cost may result in lower adoption rates. Hospitals and diagnostic centers may defer purchases of high-cost devices, presenting a significant obstacle to market growth during the forecast period.

US- Blood Bank Refrigerators Market Segmentation

The US-blood bank refrigerators market is segmented into End-user, Product, and Type. The end-user segment includes hospitals and diagnostic centers, stand-alone blood bank centers, and others. The product segment includes standard electric refrigerators, solar-powered refrigerators, and ice-lined refrigerators.

End-User Segment

The market share growth by the hospitals and diagnostic centers segment will be significant during the forecast period. The hospital sector has been growing consistently due to the growing need to provide medical support to people. Additionally, with an increase in their number and the convenience provided by them, hospitals are expanding their services related to medical care. Medical care includes surgical procedures requiring blood transfusions, thus spurring demand for blood bank refrigerators in hospitals. The sales of blood bank refrigerators in hospitals will increase slowly due to the increase in patient admissions for surgeries.

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The hospitals and diagnostic centers segment was valued at USD 172.32 million in 2018. The diagnostic centers make ample use of blood bank refrigerators to preserve blood and blood components to maintain uniformity in blood quality. Market vendors provide suitable products to cater to the demand for blood bank refrigerators. The market players are concentrating on tie-ups and partnerships with key hospitals, which allows them to supply blood bank refrigerators in bulk to these end-users. Therefore, the raised demand for blood bank refrigerators by hospitals, diagnostic centers, and other healthcare facilities is driving the growth of the market during the forecast period.

Key Companies in Blood Bank Refrigerators Market in US

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Haier Smart Home Co. Ltd.: The company offers blood bank refrigerators such as automated blood management refrigerators, Unattended self service blood distribution refrigerators, Adanced blood bank refrigerators through its subsidiary Haier Medical.

The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

  • Azenta Inc.
  • Biobase Biodusty Shandong Co. Ltd.
  • Cardinal Health Inc.
  • Eppendorf SE
  • Helmer Scientific Inc.
  • LabRepCo LLC
  • PHC Holdings Corp.
  • Standex International Corp.
  • The Middleby Corp.
  • Thermo Fisher Scientific Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

 

Blood Bank Refrigerators Market In US Scope

Report Coverage

Details

Page number

146

Base year

2023

Historic period

 2018 - 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 6.28%

Market growth 2024-2028

USD 133.85 million

Market structure

Concentrated

YoY growth 2023-2024(%)

5.81

Regional analysis

US

Competitive landscape

 Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

Azenta Inc., Biobase Biodusty Shandong Co. Ltd., Cardinal Health Inc., Eppendorf SE, Haier Smart Home Co. Ltd., Helmer Scientific Inc., LabRepCo LLC, PHC Holdings Corp., Standex International Corp., The Middleby Corp., and Thermo Fisher Scientific Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Blood Bank Refrigerators Market In US In Country Research Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the market between 2024 and 2028
  • Precise estimation of the size of the market  size and its contribution of the market in focus to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behaviour
  • Growth of the market industry across US
  • Thorough analysis of the market’s competitive landscape and detailed information about companies
  • Comprehensive analysis of factors that will challenge the growth of market companies

We can help! Our analysts can customize this market research report to meet your requirements. 

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Country Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 07: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 08: Parent market
    • Exhibit 09: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 10: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 11: Market segments
  • 3.3 Market size 2023
    • 3.4 Market outlook: Forecast for 2023-2028
      • Exhibit 12: Chart on US - Market size and forecast 2023-2028 ($ million)
      • Exhibit 13: Data Table on US - Market size and forecast 2023-2028 ($ million)
      • Exhibit 14: Chart on US: Year-over-year growth 2023-2028 (%)
      • Exhibit 15: Data Table on US: Year-over-year growth 2023-2028 (%)

    4 Historic Market Size

    • 4.1 Blood bank refrigerators market in US 2018 - 2022
      • Exhibit 16: Historic Market Size – Data Table on blood bank refrigerators market in US 2018 - 2022 ($ million)
    • 4.2 End-user Segment Analysis 2018 - 2022
      • Exhibit 17: Historic Market Size – End-user Segment 2018 - 2022 ($ million)
    • 4.3 Product Segment Analysis 2018 - 2022
      • Exhibit 18: Historic Market Size – Product Segment 2018 - 2022 ($ million)
    • 4.4 Type Segment Analysis 2018 - 2022
      • Exhibit 19: Historic Market Size – Type Segment 2018 - 2022 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 20: Five forces analysis - Comparison between 2023 and 2028
    • 5.2 Bargaining power of buyers
      • Exhibit 21: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
    • 5.3 Bargaining power of suppliers
      • Exhibit 22: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
    • 5.4 Threat of new entrants
      • Exhibit 23: Threat of new entrants – Impact of key factors in 2023 and 2028
    • 5.5 Threat of substitutes
      • Exhibit 24: Threat of substitutes – Impact of key factors in 2023 and 2028
    • 5.6 Threat of rivalry
      • Exhibit 25: Threat of rivalry – Impact of key factors in 2023 and 2028
    • 5.7 Market condition
      • Exhibit 26: Chart on Market condition - Five forces 2023 and 2028

    6 Market Segmentation by End-user

    • 6.1 Market segments
      • Exhibit 27: Chart on End-user - Market share 2023-2028 (%)
      • Exhibit 28: Data Table on End-user - Market share 2023-2028 (%)
    • 6.2 Comparison by End-user
      • Exhibit 29: Chart on Comparison by End-user
      • Exhibit 30: Data Table on Comparison by End-user
    • 6.3 Hospitals and diagnostic centers - Market size and forecast 2023-2028
      • Exhibit 31: Chart on Hospitals and diagnostic centers - Market size and forecast 2023-2028 ($ million)
      • Exhibit 32: Data Table on Hospitals and diagnostic centers - Market size and forecast 2023-2028 ($ million)
      • Exhibit 33: Chart on Hospitals and diagnostic centers - Year-over-year growth 2023-2028 (%)
      • Exhibit 34: Data Table on Hospitals and diagnostic centers - Year-over-year growth 2023-2028 (%)
    • 6.4 Stand-alone blood bank centers - Market size and forecast 2023-2028
      • Exhibit 35: Chart on Stand-alone blood bank centers - Market size and forecast 2023-2028 ($ million)
      • Exhibit 36: Data Table on Stand-alone blood bank centers - Market size and forecast 2023-2028 ($ million)
      • Exhibit 37: Chart on Stand-alone blood bank centers - Year-over-year growth 2023-2028 (%)
      • Exhibit 38: Data Table on Stand-alone blood bank centers - Year-over-year growth 2023-2028 (%)
    • 6.5 Others - Market size and forecast 2023-2028
      • Exhibit 39: Chart on Others - Market size and forecast 2023-2028 ($ million)
      • Exhibit 40: Data Table on Others - Market size and forecast 2023-2028 ($ million)
      • Exhibit 41: Chart on Others - Year-over-year growth 2023-2028 (%)
      • Exhibit 42: Data Table on Others - Year-over-year growth 2023-2028 (%)
    • 6.6 Market opportunity by End-user
      • Exhibit 43: Market opportunity by End-user ($ million)
      • Exhibit 44: Data Table on Market opportunity by End-user ($ million)

    7 Market Segmentation by Product

    • 7.1 Market segments
      • Exhibit 45: Chart on Product - Market share 2023-2028 (%)
      • Exhibit 46: Data Table on Product - Market share 2023-2028 (%)
    • 7.2 Comparison by Product
      • Exhibit 47: Chart on Comparison by Product
      • Exhibit 48: Data Table on Comparison by Product
    • 7.3 Standard electric refrigerators - Market size and forecast 2023-2028
      • Exhibit 49: Chart on Standard electric refrigerators - Market size and forecast 2023-2028 ($ million)
      • Exhibit 50: Data Table on Standard electric refrigerators - Market size and forecast 2023-2028 ($ million)
      • Exhibit 51: Chart on Standard electric refrigerators - Year-over-year growth 2023-2028 (%)
      • Exhibit 52: Data Table on Standard electric refrigerators - Year-over-year growth 2023-2028 (%)
    • 7.4 Solar-powered refrigerators - Market size and forecast 2023-2028
      • Exhibit 53: Chart on Solar-powered refrigerators - Market size and forecast 2023-2028 ($ million)
      • Exhibit 54: Data Table on Solar-powered refrigerators - Market size and forecast 2023-2028 ($ million)
      • Exhibit 55: Chart on Solar-powered refrigerators - Year-over-year growth 2023-2028 (%)
      • Exhibit 56: Data Table on Solar-powered refrigerators - Year-over-year growth 2023-2028 (%)
    • 7.5 Ice-lined refrigerators - Market size and forecast 2023-2028
      • Exhibit 57: Chart on Ice-lined refrigerators - Market size and forecast 2023-2028 ($ million)
      • Exhibit 58: Data Table on Ice-lined refrigerators - Market size and forecast 2023-2028 ($ million)
      • Exhibit 59: Chart on Ice-lined refrigerators - Year-over-year growth 2023-2028 (%)
      • Exhibit 60: Data Table on Ice-lined refrigerators - Year-over-year growth 2023-2028 (%)
    • 7.6 Market opportunity by Product
      • Exhibit 61: Market opportunity by Product ($ million)
      • Exhibit 62: Data Table on Market opportunity by Product ($ million)

    8 Market Segmentation by Type

    • 8.1 Market segments
      • Exhibit 63: Chart on Type - Market share 2023-2028 (%)
      • Exhibit 64: Data Table on Type - Market share 2023-2028 (%)
    • 8.2 Comparison by Type
      • Exhibit 65: Chart on Comparison by Type
      • Exhibit 66: Data Table on Comparison by Type
    • 8.3 Common indoor blood bank refrigerators - Market size and forecast 2023-2028
      • Exhibit 67: Chart on Common indoor blood bank refrigerators - Market size and forecast 2023-2028 ($ million)
      • Exhibit 68: Data Table on Common indoor blood bank refrigerators - Market size and forecast 2023-2028 ($ million)
      • Exhibit 69: Chart on Common indoor blood bank refrigerators - Year-over-year growth 2023-2028 (%)
      • Exhibit 70: Data Table on Common indoor blood bank refrigerators - Year-over-year growth 2023-2028 (%)
    • 8.4 Transport blood bank refrigerators - Market size and forecast 2023-2028
      • Exhibit 71: Chart on Transport blood bank refrigerators - Market size and forecast 2023-2028 ($ million)
      • Exhibit 72: Data Table on Transport blood bank refrigerators - Market size and forecast 2023-2028 ($ million)
      • Exhibit 73: Chart on Transport blood bank refrigerators - Year-over-year growth 2023-2028 (%)
      • Exhibit 74: Data Table on Transport blood bank refrigerators - Year-over-year growth 2023-2028 (%)
    • 8.5 Market opportunity by Type
      • Exhibit 75: Market opportunity by Type ($ million)
      • Exhibit 76: Data Table on Market opportunity by Type ($ million)

    9 Customer Landscape

    • 9.1 Customer landscape overview
      • Exhibit 77: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 78: Impact of drivers and challenges in 2023 and 2028
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 79: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 80: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 81: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 82: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 83: Matrix on vendor position and classification
            • 12.3 Azenta Inc.
              • Exhibit 84: Azenta Inc. - Overview
              • Exhibit 85: Azenta Inc. - Business segments
              • Exhibit 86: Azenta Inc. - Key offerings
              • Exhibit 87: Azenta Inc. - Segment focus
            • 12.4 Biobase Biodusty Shandong Co. Ltd.
              • Exhibit 88: Biobase Biodusty Shandong Co. Ltd. - Overview
              • Exhibit 89: Biobase Biodusty Shandong Co. Ltd. - Product / Service
              • Exhibit 90: Biobase Biodusty Shandong Co. Ltd. - Key offerings
            • 12.5 Cardinal Health Inc.
              • Exhibit 91: Cardinal Health Inc. - Overview
              • Exhibit 92: Cardinal Health Inc. - Business segments
              • Exhibit 93: Cardinal Health Inc. - Key news
              • Exhibit 94: Cardinal Health Inc. - Key offerings
              • Exhibit 95: Cardinal Health Inc. - Segment focus
            • 12.6 Eppendorf SE
              • Exhibit 96: Eppendorf SE - Overview
              • Exhibit 97: Eppendorf SE - Product / Service
              • Exhibit 98: Eppendorf SE - Key news
              • Exhibit 99: Eppendorf SE - Key offerings
            • 12.7 Haier Smart Home Co. Ltd.
              • Exhibit 100: Haier Smart Home Co. Ltd. - Overview
              • Exhibit 101: Haier Smart Home Co. Ltd. - Business segments
              • Exhibit 102: Haier Smart Home Co. Ltd. - Key offerings
              • Exhibit 103: Haier Smart Home Co. Ltd. - Segment focus
            • 12.8 Helmer Scientific Inc.
              • Exhibit 104: Helmer Scientific Inc. - Overview
              • Exhibit 105: Helmer Scientific Inc. - Product / Service
              • Exhibit 106: Helmer Scientific Inc. - Key offerings
            • 12.9 LabRepCo LLC
              • Exhibit 107: LabRepCo LLC - Overview
              • Exhibit 108: LabRepCo LLC - Product / Service
              • Exhibit 109: LabRepCo LLC - Key offerings
            • 12.10 PHC Holdings Corp.
              • Exhibit 110: PHC Holdings Corp. - Overview
              • Exhibit 111: PHC Holdings Corp. - Business segments
              • Exhibit 112: PHC Holdings Corp. - Key offerings
              • Exhibit 113: PHC Holdings Corp. - Segment focus
            • 12.11 Standex International Corp.
              • Exhibit 114: Standex International Corp. - Overview
              • Exhibit 115: Standex International Corp. - Business segments
              • Exhibit 116: Standex International Corp. - Key offerings
              • Exhibit 117: Standex International Corp. - Segment focus
            • 12.12 The Middleby Corp.
              • Exhibit 118: The Middleby Corp. - Overview
              • Exhibit 119: The Middleby Corp. - Business segments
              • Exhibit 120: The Middleby Corp. - Key offerings
              • Exhibit 121: The Middleby Corp. - Segment focus
            • 12.13 Thermo Fisher Scientific Inc.
              • Exhibit 122: Thermo Fisher Scientific Inc. - Overview
              • Exhibit 123: Thermo Fisher Scientific Inc. - Business segments
              • Exhibit 124: Thermo Fisher Scientific Inc. - Key news
              • Exhibit 125: Thermo Fisher Scientific Inc. - Key offerings
              • Exhibit 126: Thermo Fisher Scientific Inc. - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 127: Inclusions checklist
                • Exhibit 128: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 129: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 130: Research methodology
                • Exhibit 131: Validation techniques employed for market sizing
                • Exhibit 132: Information sources
              • 13.5 List of abbreviations
                • Exhibit 133: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              INFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases

              DATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts

              REPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape

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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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