New York (US) – Key Companies Covered in the Medical Thawing System Market Research are arkey GmbH & Co. KG, Boekel Scientific, BioLife Solutions Inc, Cardinal Health, Inc., General Electric Company, Helmer Scientific, Sartorius AG, Sarstedt AG & Co. KG, Terumo Corporation, and Thermo Fisher Scientific Inc. and other key market players.
The global medical thawing system market was valued at $165.82 million in 2019 and is expected to reach $279.17 million by 2030 with a CAGR of 11.6% during the forecast period.
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Thawing system is the process developed to defrost biological samples in cell biology research. Biology research is used in drug discovery, bio-banking, assisted reproduction, cellular therapy, and regenerative medicine. This system is required to transport and store pharmaceutical products & services in the biopharmaceutical industry. Automated thawing instruments are designed to rapidly thaw live biological contents of a cryogenic vial with high reproducibility and minimal risk of contamination. Increase in incidences of chronic disease lead to demand for blood and plasma products and technological advancements to simplify the process of thawing, which propels the market growth.
In addition, rise in awareness and government initiatives toward plasma donation, rise in launches and agreement of medical thawing systems, increase in number of embryo donors, and rise in awareness of third-party reproduction further drive the market growth. However, high cost of automation hinders the market growth. Moreover, direct need for novel medicinal inventions to push adoption of thawing systems is expected to provide lucrative market growth during the forecast period.
The medical thawing system market is divided on the basis of sample type, end user, and region. By sample, the market is segmented into blood, embryo, ovum, and semen. On the basis of end user, it is segmented into blood banks, hospitals, tissue banks, pharmaceutical and biotech companies, and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Competitive rivalry in the global medical thawing system market was observed at high level as major market participants are focused on the adoption of growth strategies such as product launches, agreement and acquisitions to gain substantial share in the competitive market.
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The Centers for Medicare and Medicaid Services data estimates that the U.S. national healthcare expenditure surpassed US$ 4.1 trillion in 2020 and is forecast to reach US$ 6.2 trillion by 2028. According to the Commonwealth Fund, the U.S. expended nearly 17% of gross domestic product (GDP) on healthcare in 2018. Switzerland was the second-highest-ranking country, expending 12.2%. In addition, New Zealand and Australia devote only 9.3%.
According to the U.S. Bureau of Labor Statistics, employment in healthcare fields is forecast to grow 16% from 2020 to 2030, much quicker than the standard for all occupations, counting about 2.6 million new jobs. This estimated growth is mainly due to an elder population, showing to greater demand for healthcare services. The median annual wage for healthcare practitioners and technical fields (such as registered nurses, physicians and surgeons, and dental hygienists) was US$ 75,040 in May 2021, which was greater than the median annual wage for all occupations in the economy of US$ 45,760.
KEY BENEFITS FOR STAKEHOLDERS – The study provides an in-depth analysis of the global medical thawing system market with current trends and future estimations from 2019 to 2027 to elucidate the imminent investment pockets. – Comprehensive analysis of factors that drive and restrict the market growth is provided. – Identification of factors instrumental in changing the market scenario, rise in opportunities, and identification of key companies that can influence this market on a global & regional scale are provided. – Key players are profiled, and their strategies are analyzed thoroughly to understand the competitive outlook of the market.
Key Market Segments By Sample Type – Blood – Embryo – Ovum – Semen By End User – Blood Banks – Hospitals – Tissue Banks – Pharmaceutical and Biotech Companies – Others
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By Region o North America ? U.S. ? Canada ? Mexico o Europe ? UK ? Germany ? France ? Italy ? Spain ? Rest of Europe o Asia-Pacific ? China ? Japan ? India ? Australia ? South Korea ? Rest of Asia-Pacific o LAMEA – Brazil – Saudi Arabia – South Africa – Rest of LAMEA
Key Benefits for Industry Participants & Stakeholders
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