Research Offers 10-Year Forecast on Pharmacy And Reagent Storage Refrigerators Market

Pharmacy and reagent storage refrigerators provide the reliability and security essential for the protection of sensitive lab samples. They are ideal for the demanding requirements of daily lab applications. Safety and reliability take priority in the storage of medicine in the medicinal sector. The highest standards are demanded medicine refrigerators everywhere, irrespective of whether it is in pharmacies, doctors’ surgeries or industrial applications areas. These refrigerators are designed especially for the storage of medicine and reagents according to the requirements. Pharmacy and reagent storage refrigerators offer outstanding energy efficiency, high quality and are also environmentally friendly. These refrigerators offer a complete, integrated solution for the growing requirements of strict and exact storage temperatures for storage of pharmaceuticals, medicines and temperature-sensitive biological.

Factors driving the global pharmacy and reagent storage market, are increasing demand for blood transfusions, custom-made medicines and vaccines, and cellular therapies. Also, rising research and development activities in the field of medical science are driving the acceptance of pharmacy and reagent storage refrigerators and freezers in research and educational institutes. Also, with increased funding from various sources and R&D activities in the pharmaceutical sector has upsurged the use of pharmacy and reagent storage refrigerators market. Factors restraining the global pharmacy and reagent storage refrigerator market includes presence of a large number of local players offering cheaper products than branded products, and rising trend of using refurbished equipment worldwide due to its lower price.

The market for pharmacy and reagent storage refrigerators market is segmented by temperature range, by end user and regions: By temperature range, the pharmacy and reagent storage refrigerators market can be segmented into: 2° to 6°, 2° to 8°, 2° to 12°, 2° to 20°, 20° to -4°, 25° to -10°, Up  to -90°, Others; By end user, the pharmacy and reagent storage refrigerators market can be segmented into: Hospitals, Pharmacies, Diagnostic Centers, Laboratories, Blood Banks, Others

With the rapid technological advancement and with augmentation of various technological and infrastructural up gradation of clinics, hospitals and research laboratories, expansion of cold chain capacity, the global pharmacy and reagent storage refrigerators market is expected to have a substantial growth.

Regionally, the market can be segmented into North America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, Japan, Latin America and the Middle East and Africa. North America accounts for the largest share of the global pharmacy and reagent storage refrigerators market. Factors contributing to the growth of pharmacy and reagent storage refrigerators in North America are the presence of a large number of healthcare facilities and the rising demand for these equipment. Major players in the retail sector are expanding their footprint in emerging markets of Asia Pacific, especially in India and China to capitalize on growing consumer spending power in these countries. Asia-Pacific is expected to be the fastest-growing region for the pharmacy and reagent storage refrigerators market. Increasing tourism in emerging countries further promotes healthcare spending into pharmacy and reagent storage refrigerators market.

Some of the players of pharmacy and reagent storage refrigerators market include Arrowsmith & Grant Refrigeration, Biobase, Dulas Ltd., EMSAS Electrical Equipment Industry & Trading, Inc., Fiocchetti S.R.L., F.lli Della Marca S.R.L, Helmer Scientific, Powers Scientific, Inc., Tritec, and Woodley Equipment Company Ltd. Top market players are focusing on new product development and launch of advanced and sustainable products through strategic R&D initiatives in product innovation; geographical expansion especially in high-growth markets such as India, China, and Brazil by increasing the number of manufacturing facilities worldwide and collaborations and partnerships with established players in mature markets for business expansion and growth.

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Ankush Nikam

Ankush Nikam is a seasoned digital marketing professional, having worked for numerous online firms in his distinguished career. He believes in continuous learning, considering that the digital marketing sector’s rapidly evolving nature. Ankush is an avid music listener and loves to travel.