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2021
Medical Thawing System Market

Medical Thawing System Market

by Sample Type (Blood, Embryo, Ovum, and Semen) and End User (Blood Banks, Hospitals, Tissue Banks, Pharmaceutical & Biotech Companies, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027

Report Code: A10559
Pages: 186
Mar 2021 | 3766 Views
Author(s) : Ravi T, Sumitra C
Tables: 92
Charts: 38
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COVID-19

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The global medical thawing system market was valued at $165.82 million in 2019, and is expected to reach $279.17 million by 2027 with a CAGR of 11.6% during the forecast period. 

Medical thawing is an essential step used during a blood transfusion. As blood and plasma-based products are stored in cold conditions, thawing them is essential to ensure safe transfusion. Thawing system uses microprocessors to regulate water bath temperature for appropriate thawing. It is performed for cryopreserved ovum, semen, and embryo samples. In addition, increase in use of fresh frozen plasma and blood products increases demand of medical thawing systems. 

Medical-Thawing-Systems-Market-2020-2027

Rise in incidences of chronic disease leading to demand for blood and plasma products, rise in launches & agreements, and technological advancements to ease and simplify the process of thawing are the major factors that propel the market growth. In addition, rise in awareness and government initiatives toward plasma donation, increase in number of embryo donors, and rise in awareness regarding third-party reproduction further propels growth of the medical thawing system market. However, high cost of automation of thawing machines hinders the market growth. Moreover, the dire need for novel medicinal inventions is expected to propel adoption of thawing systems, which is expected to provide lucrative opportunities for the market growth during the forecast period. 

The coronavirus disease (COVID-19) has spread across the globe. Hence, owing to increase in number of corona virus patients, governments have imposed several rules and lockdowns across the globe, which has resulted into postponing of non-emergency surgical procedures as well as in-hospital therapies. Healthcare providers are concentrating more on offering emergency healthcare to patients infected with coronavirus. Further, the Defense Department in the U.S. has started an effort to collect 8,000 donated units of plasma from patients who have recovered from COVID-19 to support development of an effective treatment against the disease. In addition, thawing is an important part in drug discovery and research & development during COVID-19 drugs/vaccine preparations.  Therefore, the aforementioned factors are expected to show moderate effect on the market growth during the forecast period.

Global Medical Thawing System Market Segmentation  

The medical thawing system market is divided on the basis of sample type, end user, and region. By sample, the market is segmented into blood, embryo, ovum, and semen. On the basis of end user, it is segmented into blood banks, hospitals, tissue banks, pharmaceutical and biotech companies, and others.  On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

Segment Review

By sample type, the global medical thawing system market is categorized into blood, embryo, ovum, and semen.  The blood segment is expected to dominate the market during the forecast period. This is attributed to rise in demand for blood & blood products and increase in incidences of hemorrhage related events. Further, the embryo segment is estimated to grow rapidly during the forecast period, owing to increase in rate of pregnancy and live birth by embryo donation. Furthermore, increase in adoption of in vitro fertilization (IVF) treatment for infertility also propel the demand for advanced thawing systems.

Medical Thawing System Market
By Sample Type

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Blood segment holds a dominant position in 2019

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On the basis of end user, the market is segregated into blood banks, hospitals, tissue banks, pharmaceutical & biotech companies, and others. The blood bank segment dominated the market in 2019, owing to vast utilization of thawing systems in transfusion centers and blood banks. Further, the tissue bank segment is estimated to grow at the fastest rate during the forecast period, as these institutions recover and store human cadaver tissues for medical studies and education. Mostly tissues such as cartilage, skin, tendons, bone joints, cornea, and dura mater are harvested and stored by these institutions.

Medical Thawing System Market
By End User

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Tissue Banks is the most lucrative segment during the forecast period

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Region wise, the global medical thawing system market is analyzed across North America, Region wise, the global medical thawing system market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the market in 2019, owing to increase in awareness programs regarding blood donation and plasma donation. In addition, presence of leading market players such as Boekel Scientific, GE healthcare, and Helmer Scientific further propels growth of medical thawing system market in this region. However, Asia-Pacific is expected to register highest CAGR, in terms of revenue, during the forecast period, as the region has a large patient pool with high incidences of chronic diseases. Increase in the number of chronic diseases that lead to organ failures is expected to boost demand for thawed blood.

Medical Thawing System Market
By Region

2027
North America 
Europe
Asia-Pacific
LAMEA

Asia-Pacific region would exhibit the highest CAGR of 13.7% during 2020-2027.

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Prominent players operating in the global medical thawing system market include Barkey GmbH & Co. KG, Boekel Scientific, BioLife Solutions Inc, Cardinal Health, Inc., General Electric Company, Helmer Scientific, Sartorius AG, Sarstedt AG & Co. KG, Terumo Corporation, and Thermo Fisher Scientific Inc. These players are adopting growth strategies such as product launches, mergers and acquisitions (M&As), product developments, and partnerships & collaborations to gain competitive advantage.

Key Benefits For Stakeholders

  • This report entails a detailed quantitative analysis along with the current and future global medical thawing system market trends from 2019 to 2027 to identify the prevailing opportunities along with strategic assessment.
  • The spinal implant and devices market forecast is studied from 2019 to 2027. 
  • The market size and estimations are based on a comprehensive analysis of key developments in the industry.
  • A qualitative analysis based on innovative products facilitates strategic business planning.
  • The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market,

Medical Thawing System Market Report Highlights

Aspects Details
By Sample Type
  • Blood
  • Embryo
  • Ovum
  • Semen
By End User
  • Blood Banks
  • Hospitals
  • Tissue Banks
  • Pharmaceutical and Biotech Companies
  • Others
By Region
  • North America  (U.S, Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players THERMO FISHER SCIENTIFIC, INC., SARTORIUS AG, SARSTEDT AG & CO. KG, BIOLIFE SOLUTIONS INC., CARDINAL HEALTH INC., TERUMO CORPORATION, GENERAL ELECTRIC COMPANY (GE HEALTHCARE), BOEKEL SCIENTIFIC, BARKEY GMBH & CO. KG, HELMER SCIENTIFIC
 

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The medical thawing system market is expected to witness profitable growth in the future. Increase in incidences of chronic diseases leading to demand for blood and plasma products, rise in awareness and government initiative toward plasma donation, increase in launch of new medical thawing systems, rise in number of embryo donors, and rise in awareness regarding third-party reproduction are the prominent factors that boost the medical thawing system market growth. Moreover, need for novel medicinal inventions are expected to propel adoption of thawing systems, which is anticipated to boost the market growth during the forecast period. In addition, high cost of automation of thawing machines hinder the market growth.

As per the analysis in the report, North America dominated the market, in terms of revenue, in 2019, owing to high rate of adoption, increase in awareness programs about blood donation and plasma donation. For instance, according to the American Red Cross, around 10% of eligible U.S. donors donate blood each year. In addition, rise in incidences of chronic diseases such as heart disease, cancer, stroke, respiratory disease, injuries, and diabetes also propels the market growth. Further, presence of leading market players such as Boekel Scientific, GE healthcare, and Helmer Scientific also propels growth of the medical thawing system market in the region. 

Asia-Pacific is anticipated to propel the market growth during the forecast period. This is attributed to the fact that the region includes a large patient pool with high incidences of chronic diseases. Rise in number of chronic diseases that lead to organ failures is expected to boost demand for thawed blood. In addition, China, Japan, and India are developing technologically advanced devices and offer various advanced surgical treatment options with growing medical tourism. Moreover, relatively lower treatment cost in the region also attracts a significant number of patients to visit for medical reasons. These factors are expected to fuel growth of the market the Asia-Pacific.

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FREQUENTLY ASKED QUESTIONS?

A. The total market value of medical thawing systems market is $165.82 million in 2019

A. The forcast period for medical thawing systems market is 2020 to 2027

A. The market value of medical thawing systems market in 2027 is $279.17 million

A. The base year is 2019 in medical thawing systems market

A. Top companies such as, General Electric Company, Helmer Scientific, Boekel Scientific, and BioLife Solutions Inc. has garnered the maximum market share in 2019.. These key players held a high market postion owing to the strong geographical foothold in different regions.

A. Embryo segment segment is the most influencing segment This is attributed due to an increase in pregnancy rate and live birth rate due to embryo donation. Furthermore, the increasing adoption of in vitro fertilization (IVF) treatment for infertility is boosting the demand for advanced thawing systems.

A. The major factor that fuels the growth of the global medical thawing systems market includes increase in incidences of chronic disease leading to demand for blood and plasma products, technological advancement to ease and simply the process of thawing, and rise in launches and agreement of medical thawing systems. In addition, rise in awareness and government initiative towards the plasma donation and increase in number of embryo donors and rise in awareness of third party reproduction.

A. Asia-Pacific has the highest growth rate in the market which is growing this is attributed due to Asia-Pacific have a large patient pool with a high incidence of chronic diseases. An increase in the number of chronic diseases that lead to organ failures is expected to boost the demand for thawed blood.

A. Medical thawing is process developed to defrost biological samples for cell biology research.

A. An medical thawing systems is used to thaw the sample such as regenerative medicine, cellular therapy, bio-banking, and drug discoveryIn addition, enteral feeding refers to intake of food via the gastrointestinal (GI) tract. The GI tract is composed of comprises the mouth, esophagus, stomach, and intestines.

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