The global Medical Thawing System market size is expected to be worth around US$ 278.10 million by 2028, according to a new report by Vision Research Reports.
The global Medical Thawing System market size was valued at US$ 157.3 million in 2020 and is anticipated to grow at a CAGR of 7.7% during forecast period 2021 to 2028.
The growing demand for medical thawing systems in blood banks and laboratories, where it requires warming of products such as crystalloid infusion solution, whole blood, and RBC before transfusion into a patient, is expected to drive the growth. Technological advancements in automated thaw systems at the point of care settings and rising demand for rapid thawing techniques of frozen plasma in various surgical procedures are the factors augmenting the market growth. Besides, the rising use of thawed cells due to the high incidence of road accidents, diabetes, cancer, and trauma cases are also creating demand.
The rising number of surgical procedures and increasing incidence of hemorrhage related conditions in these surgical procedures are driving the healthcare thawing system market growth. Rising demand for thawed blood to be more rapidly available for hemorrhage in various invasive surgical procedures is the major contributor to the market growth. Moreover, the increasing number of product launches and continuous improvement in the features of the thaw system is also contributing to the demand. The increasing number of embryo donors and the rising awareness about third-party reproduction is also augmenting the demand for thawing systems. According to the Centers for Disease Control and Prevention, there were more than 2.6 lakhs attempts at in vitro fertilization in 2016.
The manual thawing system segment dominated the market with a share of 57.4% in 2020. The segment share is primarily due to the availability of a wide range of products and high usage due to affordable prices. The automated thaw system is expected to grow at the fastest pace owing to its features such as portability, ease of use, and high adoption rate.
Moreover, increasing demand for the thawing system at the point of care settings is also contributing to the segment growth. Also, technological advancement and collaborations by major players in the industry are also adding growth to the automated thawing devices market. For instance, in December 2018, Pluristem Therapeutics Inc. entered into a license agreement with the subsidiary of Chart Industries, Inc. for the distribution of thawing devices.
The blood sample segment accounted for the largest market share of 53.02% in 2020. The dominance is primarily attributed to factors such as increasing demand for blood and blood products and rising incidence of hemorrhage related events.
The embryo segment is expected to grow lucratively during the forecast period. The high growth rate of the segment is primarily attributed to an increase in pregnancy rate and livebirth rate due to embryo donation. Moreover, the increasing adoption of in vitro fertilization (IVF) treatment for infertility is boosting the demand for advanced thawing systems. According to the Centers for Disease Control and Prevention, there were more than 2.6 lakhs attempts at in vitro fertilization in 2016. Furthermore, the number of embryo donor transfers is increasing due to several awareness campaigns. These factors are expected to boost the healthcare thawing system market during the forecast period.
The blood bank and transfusion centers segment dominated the market with a share of 31.6% in 2020. The dominance is primarily due to the high usage of thawing systems in these blood banks and transfusion centers. According to the World Health Organization, there are 13,300 blood centers in 169 countries collecting a total of 106 million donations. The rising number of these institutes and donations is expected to fuel the overall market growth.
North America dominated in 2020 with a market share of 47.8% and is expected to maintain its dominance over the forecast period. Regionally, the market is segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa. High adoption rate, increasing incidence of chronic conditions, and the presence of major market players are the factors expected to drive the market in North America during the forecast period.
The Asia Pacific region is likely to register the fastest growth rate during the forecast period. The region consists of developing economies, majorly China, India, and Japan. These countries 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. These countries are developing technologically advanced devices and offer various advanced surgical treatment options with booming. Relatively lower treatment cost in the region attracts a significant number of patients to visit for medical reasons. These factors are expected to fuel the growth in the Asia Pacific region.
Helmer Scientific Inc.
SARSTEDT AG & Co. KG
Thermo Fisher Scientific
Product Type Outlook
Blood Bank & Transfusion Centers
Biotechnology & Pharma
Middle East & Africa
The Medical Thawing System market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Medical Thawing System market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Medical Thawing System market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Medical Thawing System market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Medical Thawing System market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Medical Thawing System capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Medical Thawing System by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Medical Thawing System market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Medical Thawing System market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Medical Thawing System market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Medical Thawing System industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Medical Thawing System market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Medical Thawing System market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Medical Thawing System market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Medical Thawing System market. These factors have benefited the growth of the global market for Medical Thawing System. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Medical Thawing System. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Medical Thawing System are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are: