(PharmaNewsWire.Com, May 14, 2020 ) Improvements in blood bank and biobank infrastructure, increasing research activities in regenerative medicine as well as cell and gene therapy, growing interest in personalized medicine and biomarker discovery, increasing number of biotechnology and pharmaceutical companies, and increasing government funding are factors driving the growth of thawing system market.
How much is the Thawing System Market worth?
The Thawing System Market is expected to reach USD 252.7 Million by 2022 from USD 139.6 Million in 2017, at a CAGR of 12.6%. The market growth is primarily driven by the growing incidence of chronic diseases and technological advancements in thawing devices. North America is expected to register the highest growth rate during the forecast period mainly due to rising focus of major players in emerging Asian countries and government support.
Manual devices are estimated to account for the largest market share in 2017
On the basis of type, the thawing system market is classified into manual and automated devices. The manual devices segment is expected to lead the global thawing system market in 2017. Factors driving the growth of this segment include low cost and wider availability of manual devices across the globe.
The blood sample segment is estimated to dominate the market in 2017
By sample type, the market is segmented into blood, embryos, semen, ovum, and other samples (nucleic acids and human tissues). The blood sample segment is anticipated to account for the largest share of the global thawing system market in 2017. Rising incidence of blood disorders and increasing demand for various types of blood products are major factors responsible for the large share of this segment.
By end user, the blood banks and transfusion centers segment is estimated to command the largest share of the market during the forecast period
On the basis of end user, the thawing system market is categorized into blood banks and transfusion centers; cord blood and stem cell banks; biotechnology and pharmaceutical companies; hospitals and diagnostics laboratories; research and academic institutes; and tissue banks. The blood banks and transfusion centers segment is estimated to account for the largest share of the global thawing system market in 2017. The heavy burden of chronic diseases (which requires blood transfusions) and increasing number of blood banks are the key factors driving the growth of this end-user segment.
This report covers the market across four major geographies, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Of the four geographic regions studied in the report, North America is expected to register the highest growth rate during the forecast period mainly due to rising focus of major players in emerging Asian countries and government support.
Geographically, the Thawing System industry is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The global thawing system market is dominated by North America, followed by Europe. North America will continue to dominate the global thawing system market in 2017. However, Asia Pacific is expected to witness the highest CAGR, with the growth in this market centered in Japan, China, and India.
Leading Companies
The major players in the Thawing System industry include Helmer Scientific (US), Boekel Scientific (US), Sarstedt (Germany), Barkey (Germany), BioCision (US), Cardinal Health (US), Sartorius (Germany), GE Healthcare (US), Thermo Fisher Scientific (US), and CytoTherm (US).
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