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NEW YORK, May 2, 2022 /PRNewswire/ — The “RFID Blood Refrigerator And Freezer Market by Application (Hospital and diagnostic centers, Blood banks, and Others) and Geography (North America, Europe, Asiaand Rest of World (ROW)) – Forecast and Analysis 2022-2026” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. 40% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for RFID blood refrigerators and freezers in North America. Market growth in this region will be faster than the growth of the market in Europe and Asia. The significant increase in investments in healthcare in countries such as the US will facilitate the RFID blood refrigerator and freezer market growth in North America over the forecast period.
The potential growth difference for the RFID blood refrigerator and freezer market between 2021 and 2026 is USD 285.46 million. To get the exact yearly growth variance and the YOY growth rate, Talk to our analyst.
Key Market Dynamics:
- Market Driver – The key factor driving the global RFID blood refrigerator and freezer market growth is the high demand for blood and blood components. Various diseases and blood disorders, such as thalassemia, sickle cell anemia, hemophilia, leukemia, and cancer, as well as blood loss due to surgery, require blood for treatment. Blood and its components are required when the body fails to produce enough blood components to meet the body’s requirements. Furthermore, the availability of freezer drawer racks made of corrosion-resistant stainless steel, with handles and identification cardholders, enables the storage of a large number of blood tubes conveniently and facilitates tube retrieval without removing the whole rack from the freezer. Such advantages of RFID blood refrigerators and freezers will increase their adoption during the forecast period.
- Market Challenges – The key challenge to the global RFID blood refrigerator and freezer market growth is the high maintenance cost and limited reimbursement. The average cost of cord blood handling (blood remaining in the placenta after childbirth) is around USD 1,500 per year. Since RFID freezers are precision devices and must maintain the temperature inside the chamber with great stability, the periodic maintenance of each component is essential, which further increases the cost. Although the probability of release of blood components such as erythrocytes and plasma to end-users is more than cord blood units, most of these products are less adopted owing to low reimbursement. For instance, the reimbursement provided by the Centers for Medicare and Medicaid Services for RBC units is USD 180 to USD 190 in the US. Such factors are expected to negatively impact market growth during the forecast period.
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Segmentation Analysis
The RFID blood refrigerator and freezer market report is segmented by Application (Hospital and diagnostic centers, Blood banks, and Others) and Geography (North America, Europe, Asiaand the Rest of the World (ROW)).
The RFID blood refrigerator and freezer market share growth by the hospitals and diagnostic centers segment for revenue generation. The need for storing and tracking blood products will increase in the coming years owing to the growth in hospital admissions for surgeries and diagnoses, which will subsequently drive the demand for RFID blood refrigerators and freezers in hospitals.
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Some Companies Mentioned
The RFID blood refrigerator and freezer market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
- Angelantoni Industrie Srl
- ARCTIKO AS
- Aurora BioScience
- B Medical Systems Sarl
- Biolog Id
- Bionics Scientific Technologies (P) Ltd.
- Cardinal Health Inc.
- ENLAKE Enterprises Pty Ltd.
- Haier Biomedical
- IQM AS
- MedSella
- Philipp Kirsch GmbH
- Promega Corp.
- Rollex Group Australia PTY Ltd.
- SATO Holdings Corp.
- Spacecode SA
- Stericox India Pvt. Ltd.
- Thalheimer Kuhlung GmbH and Co. KG
- Thermo Fisher Scientific Inc.
- Venture Research Inc.
- To gain access to more vendor profiles with their key offerings available with Technavio, Click Here
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RFID Blood Refrigerator And Freezer Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
