Medical Thawing System Market

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. 

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.

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.

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.

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.
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• 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