“The global thawing system market projected to grow at a CAGR of 12.6% during the forecast period.”
The thawing system market is expected to reach USD 252.7 million by 2031 from USD 139.6 million in 2022, at a CAGR of 12.6%. Factors driving the growth of this market include rising use of thawed cells in the study and treatment of diabetes and cancer and growing number of road accidents, emergencies, and trauma cases necessitating blood transfusions and cryopreserved blood products. On the other hand, the high cost of automation is expected to limit market growth in the coming years. Issues related to biospecimen sample procurement are also expected to challenge market growth to a certain extent.
“The automated devices segment is anticipated to grow at the fastest growth rate during the forecast period.”
By type, the thawing system market is categorized into manual devices and automated devices. The automated devices segment is estimated to grow at the fastest rate during the forecast period. Advanced applications of automated thawing devices compared to manual defreezing devices is a key factor driving the growth of this market.
“The blood banks and transfusion centers segment is estimated to grow at a rapid rate during the analysis period.”
By end user, the thawing system market is segmented into blood banks and transfusion centers; hospitals and diagnostics laboratories; cord blood and stem cell banks; research and academic institutes; biotechnology and pharmaceutical companies; and tissue banks. The blood banks and transfusion centers segment is expected to grow at the fastest rate during the forecast period. Increasing number of blood banks and rising burden of chronic diseases which requires blood transfusion are driving the growth of this segment.
“Asia Pacific is estimated to grow at the highest CAGR during the study period.”
Geographically, the thawing system market is expected to be dominated by North America, followed by Europe, in 2017. Asia Pacific is estimated to grow at the fastest rate which can be attributed to the developing healthcare infrastructure, rising burden of cancer, and increasing initiatives to promote blood donations.
The primary interviews conducted for this report can be categorized as follows:
• By Company Type – Tier 1 – 60%, Tier 2 – 20% and Tier 3 – 20%
• By Designation – C-level – 40%, Director-level – 20%, Others – 40%
• By Region – North America – 40%, Europe – 20%, Asia Pacific– 40%
The key players in the thawing system market include Helmer Scientific (US), Sarstedt (Germany), Boekel Scientific (US), BioCision (US), Cardinal Health (US), Barkey (Germany), Sartorius (Germany), Thermo Fisher Scientific (US), GE Healthcare (US) and CytoTherm (US).