Market Leader - Thawing System Market
The thawing system market covers devices that are used to unfreeze and defrost biological samples such as blood and blood products, semen, ovum, embryos, and human tissues. This market is expected to reach USD 252.7 Million by 2022 from USD 139.6 Million in 2017, at a CAGR of 12.6%. Factors driving the growth of this market include increasing focus of biorepositories on expanding their storage capacities and technological advancements in sample thawing devices.
Increasing use of thawed cells in the study and treatment of diabetes and cancer and growing number of road accidents, emergencies, and trauma cases (which necessitate blood transfusions and cryopreserved blood products) are some other factors supporting the growth of the market.
On the basis of type, the thawing system market is categorized into manual and automated devices. The automated devices segment is expected to grow at the fastest rate during the forecast period. Increasing adoption of automated sample thawing devices due to its innovative and advanced applications is the main factor contributing to the high growth rate of this segment.
On the basis of sample type, the market is categorized into blood, embryo, semen, ovum, and other samples (nucleic acids and human tissues). The blood sample segment is estimated to grow at the fastest rate during the forecast period. The growth of this segment can be attributed to the high demand for blood and blood products in the treatment of chronic diseases and trauma cases.
By end user, the thawing system market is classified 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 estimated to grow at the fastest rate during the forecast period. The increasing demand for blood in the treatment of clinical conditions such as sickle-cell anemia, cancer, liver failure, and severe burns; growing awareness regarding the safety of blood; and increasing number of blood donations are driving the demand for sample thawing devices in this end-user segment.
The thawing system market is geographically segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). Asia Pacific is expected to have the fastest growth rate due to improving healthcare infrastructure, heavy burden of chronic diseases, rising awareness about the blood donations, and growth in the demand for thawing devices.
Given the immense opportunities in major applications of thawing devices, market leaders and emerging players are increasingly focusing on the market in the segments mentioned above to increase their revenues and are also looking to expand their reach to emerging economies.
Related Reports:
Thawing System Market by Type (Manual, Automated), Sample (Blood, Plasma, RBC, Platelets, Whole Blood, Embryo, Semen), End User (Blood Bank, Transfusion Center, Hospital, Tissue Bank, Biotechnology & Pharmaceutical) - Global Forecast to 2022
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