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Biomedical Warming and Thawing Devices Market is Determined to cross $270 mn by 2024

Author : Rahul Sankrityayan | Published Date : 2019-04-10 

Global Biomedical Warming and Thawing Devices Market is set to exceed USD 270 million by 2024; according to a new
research study published by Global Market Insights, Inc. Increase in number of accidents and trauma cases leading to
blood transfusions will foster biomedical warming and thawing devices market growth over the projection years. According
to the World Health Organization, injuries resulting from traffic collisions, drowning, poisoning, falls or burns account
for 9% of global mortality. Furthermore, growing demand for in-vitro fertilization and artificial insemination processes
due to rising incidence of infertility have impacted the market demand positively.

With increasing application of thawing devices in pharmaceutical industry and biotechnology studies such plant tissue
culturing, animal tissue culturing and many other potential applications, the demand for warming and thawing equipment
will rapidly increase in near future. In addition, increased application of thawing devices required for cryopreserved
cells has propelled the market growth.
 
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Automatic biomedical warming and thawing devices market segment is anticipated to experience robust growth in foreseeable
future, accounting for USD 46.9 million in 2017. Multiple detection mechanisms, vial temperature determination, phase
change initiation and thaw completion are few of the advantageous factors driving the growth of automatic biomedical
warming and thawing devices market segment.

Blood products market segment is expected to grow at 10.1% during the projected years from 2018-2024. Increasing number
of road accidents and trauma cases, and presence of various blood banks and storage centers globally will propel the
growth of blood products market segment. Furthermore, greater demand for biomedical research are few of the major factors
responsible for the growth of blood products market segment.

The growing need to infuse blood and organs to patients at the most precise temperature has been primarily driving the
demand for warming and thawing devices in trauma care & transfusion centers, blood banks and hospitals. The increasing
prevalence of accidents and trauma cases across the globe has led to strong demand for blood transfusions. In fact,
worldwide, accidents and injuries resulting from poisoning, traffic collisions, falls or burns, and drowning accounts for
9% of global mortality rate. Quite overtly, the global deaths and injuries resulting from road traffic crashes have been
consistently driving biomedical warming and thawing devices industry share.

Apart from blood banks and transfusion centers, research laboratories is another prominent end-use sector for biomedical
warming and thawing devices market that is gaining strong momentum. Reports forecast the segment to register a healthy
growth rate of 11.6% over 2018-2024, on the grounds of rising R&D activities pertaining to ovum/embryo transplant, DNA,
proteins, human cells, cryopreserved cells and fresh frozen plasma.

With a projected CAGR of 12.2% over 2018-2024, India is emerging as another lucrative investment hub for the potential
biomedical warming and thawing devices industry players, given the rapidly developing surgical centers, blood transfusion
centers, and hospitals. Along with the improving healthcare expenditure, the growing focus on biotechnology studies and
research is also expected to prevail the regional expansion.

In line with the phenomenally thriving regional expanse of biomedical warming and thawing devices market, it wouldn’t be
wrong to say that the involvement of regional players in bringing forth further advancement will majorly impact the
commercialization matrix of this business space. According to a report by Global Market Insights, Inc., biomedical
warming and thawing devices market is projected to surpass USD 270 million by 2024.

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Prominent industry players include include Helmer Scientific, BioCision, Sartorius AG, Sarstedt AG & Co. KG, Boekel
Scientific, Barkey, CytoTherm, Cardinal Health, GE Healthcare, Thermo Fisher Scientific. These market players have
adopted innovative strategies such as new product development, improving their manufacturing footprint, merger and
acquisition, and geographical expansion for improving their position in the market place.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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