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North America Medical Refrigerators Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Temperature Control Range (Between -2°C and -8°C, Between – 1°C and – 50°C, Between – 51°C and – 150°C, and Below – 151°C), Product Type (Laboratory Refrigerators and Freezers, Blood Bank Refrigerators and Plasma Freezers, Pharmacy Refrigerators and Freezers, Cryogenic Storage Systems, Vaccine Refrigerators, and Others); Design Type (Explosion-Proof Refrigerators, Undercounter Medical Refrigerators, Countertop Medical Refrigerators, and Flammable Material Storage Refrigerators), and End User ( Hospitals and Pharmacies, Blood Banks, Pharmaceutical Companies, Research Institutes, Diagnostic Centers, and  Others)

The North America medical refrigerators market is expected to grow from US$ 2,075.80 million in 2023 to US$ 2,795.95 million by 2028. It is estimated to grow at a CAGR of 6.1% from 2023 to 2028.

Government Support for Research Activities and Clinical Trials Drives North America Medical Refrigerators Market

There has been a vast increase in clinical trials in the last 10 years. In August 2019, the US Food and Drug Administration (FDA) announced 12 new clinical trial research grants for principal investigators from academia and industrial institutes in the country. It further plans to grant more than US$ 15 million over the next 4 years to support the development of medical products for patients with rare diseases. The FDA awarded these grants through the Orphan Products Clinical Trials Grants Program, funded by Congress to encourage the clinical development of drugs, biologics, medical devices, and medical food for the treatment of rare diseases. The grants are further intended to substantially contribute to the marketing approval of rare disease treatment products or to provide essential data needed to develop such products. For more than 35 years, the FDA has been providing much-needed financial support for clinical trials of potentially life-changing treatments for patients with rare diseases. To date, the Orphan Products Clinical Trials Grants Program has supported research that led to the marketing approval of more than 60 treatments for rare diseases. Further, vaccine development to fight the COVID-19 pandemic is picking up pace in the US, with a large number of companies starting clinical trials and forming collaborations to ensure rapid growth and sufficient production capacity. The US government provided US$ 483 million in funds for the COVID-19 vaccine trials of Moderna Inc. Such government funding for supporting research activities and clinical trials would boost the adoption of ULT freezers for the preservation of samples and substances derived from human cells, which are susceptible to temperature change and are most often stored at temperatures ranging from –70°C to –90°C.

North America Medical Refrigerators Market Overview

The North America medical refrigerators market is segmented into the US, Canada, and Mexico. The increasing demand for biobanks brings transformative potential to the healthcare and economic systems of the US. The need for disease understanding, drug discovery, and development expedites the development of biobanks in the country. Besides, research supported by biobanks provides new insights into the genetic component of human diseases. Several players in the US focus on offering a diversified, cutting-edge portfolio of biobanking products and services designed to accelerate lifesaving discoveries. In February 2023, the United States Patent and Trademark Office granted a new patent for the novel cryogenic storage system of Athersys Inc—the System Integrated Freezer Unit (SIFU). In November 2020, US states, cities, and hospitals scrambled to buy ultra-cold freezers that can safely store Pfizer Inc’s PFE.N COVID-19 vaccine. In February 2023, PHC Corporation launched PHCbi brand VIP ECO SMART ultra-low temperature freezer series used in healthcare facilities of medical institutions, universities, and pharmaceutical companies.

North America Medical Refrigerators Market Revenue and Forecast to 2028 (US$ Million)

North America Medical Refrigerators Market Segmentation

The North America medical refrigerators market is segmented into temperature control range, product type, design type, end user, and country.

Based on temperature control range, the North America medical refrigerators market is segmented into between -2°C and -8°C, between -1°C and -50°C, between -51°C and -150°C, and below -151°C. In 2023, the between -1°C and – 50°C segment registered the largest share of the market.

Based on product type, the North America medical refrigerators market is segmented into laboratory refrigerators and freezers, blood bank refrigerators and plasma freezers, pharmacy refrigerators and freezers, cryogenic storage systems, vaccine refrigerators, and others. In 2023, the laboratory refrigerators and freezers segment registered the largest share of the market.

Based on design type, the North America medical refrigerators market is segmented into explosion-proof refrigerators, under-counter medical refrigerators, countertop medical refrigerators, and flammable material storage refrigerators. In 2023, the countertop medical refrigerators segment registered the largest market share.

Based on end user, the North America medical refrigerators market is segmented into hospitals and pharmacies, blood banks, pharmaceutical companies, research institutes, diagnostic centers, and others. In 2023, the hospitals and pharmacies segment accounted for the largest market share.

Based on country, the North America medical refrigerators market is segmented into the US, Canada, and Mexico. In 2023, the US segment registered the largest share in the North America medical refrigerators market.

Thermo Fisher Scientific Inc; Philipp Kirsch GmbH; Godrej & Boyce Manufacturing Co Ltd; Blue Star Ltd; Helmer Scientific Inc.; Vestfrost Solutions; PHC Holdings Corporation; FOLLETT LLC; and Haier Biomedical are the leading companies operating in the North America medical refrigerators market.

TABLE OF CONTENTS

1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Medical Refrigerators Market – By Temperature Control Range
1.3.2 North America Medical Refrigerators Market – By Product Type
1.3.3 North America Medical Refrigerators Market – By Design Type
1.3.4 North America Medical Refrigerators Market – By End User
1.3.5 North America Medical Refrigerators market – By Country
2. North America Medical Refrigerators Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Medical Refrigerators Market – Market Landscape
4.1 Overview
4.2 North America PEST Analysis
4.3 Expert Opinions
5. North America Medical Refrigerators Market– Key Market Dynamics
5.1 Drivers
5.1.1 Increasing Demand for Blood and Blood Components
5.1.2 Technological Advancements in Medical Refrigerators
5.1.3 Growing R&D Activities to Introduce New Drug Compounds
5.2 Market Restraints
5.2.1 Use of Refurbished Equipment
5.2.2 High Costs Associated with Ultra-Low Temperature Freezers
5.3 Market Opportunities
5.3.1 Government Support for Research Activities and Clinical Trials
5.4 Future Trends
5.4.1 Growing Emphasis on Temperature Uniformity and Energy Efficiency
5.5 Impact Analysis
6. Medical Refrigerators Market – North America Analysis
6.1 North America Medical Refrigerators Market Revenue Forecast and Analysis
6.2 North America Medical Refrigerators Market, By Geography – Forecast and Analysis
7. North America Medical Refrigerators Market Analysis – By Product Type
7.1 Overview
7.2 North America Medical Refrigerators Market Revenue Share, by Product Type (2022 and 2028)
7.3 Laboratory Refrigerators and Freezers
7.3.1 Overview
7.3.2 Laboratory Refrigerators and Freezers: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Blood Bank Refrigerators and Plasma Freezers
7.4.1 Overview
7.4.2 Blood Bank Refrigerators and Plasma Freezers: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Pharmacy Refrigerators and Freezers
7.5.1 Overview
7.5.2 Pharmacy Refrigerators and Freezers: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
7.6 Cryogenic Freezers and Storage Systems (including LN2 Cryogenic Storage System)
7.6.1 Overview
7.6.2 Cryogenic Freezers and Storage Systems (including LN2 Cryogenic Storage System): North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
7.7 Vaccine Refrigerator/Freezer
7.7.1 Overview
7.7.2 Vaccine Refrigerator/Freezer: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
7.8 Others
7.8.1 Overview
7.8.2 Others: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Medical Refrigerators Market Analysis – By Design Type
8.1 Overview
8.2 North America Medical Refrigerators Market Revenue Share, by Design Type (2022 and 2028)
8.3 Countertop Medical Refrigerators
8.3.1 Overview
8.3.2 Countertop Medical Refrigerators: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Undercounter Medical Refrigerators
8.4.1 Overview
8.4.2 Undercounter Medical Refrigerators: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Explosion-Proof Refrigerators
8.5.1 Overview
8.5.2 Explosion-Proof Refrigerators: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Flammable Material Storage Refrigerators
8.6.1 Overview
8.6.2 Flammable Material Storage Refrigerators: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Medical Refrigerators Market Analysis – By Temperature Control Range
9.1 Overview
9.2 North America Medical Refrigerators Market Revenue Share, by Temperature Control Range (2022 and 2028)
9.4 Between -1 to -50 °C
9.4.1 Overview
9.4.2 Between -1 to -50°C: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Between 2 to 8 °C
9.5.1 Overview
9.5.2 Between 2 to 8 °C: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Between -51 to -150 °C
9.6.1 Overview
9.6.2 Between -51 to -150 °C: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
9.7 Below -151°C
9.7.1 Overview
9.7.2 Below -151°C: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
10. North America Medical Refrigerators Market Analysis – By End User
10.1 Overview
10.2 North America Medical Refrigerators Market Revenue Share, by End User (2022 and 2028)
10.3 Hospitals and Pharmacies
10.3.1 Overview
10.3.2 Hospitals and Pharmacies: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
10.4 Blood Banks
10.4.1 Overview
10.4.2 Blood Banks: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
10.5 Pharmaceutical Companies
10.5.1 Overview
10.5.2 Pharmaceutical Companies: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
10.6 Diagnostic Centers
10.6.1 Overview
10.6.2 Diagnostic Centers: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
10.7 Research Institutes
10.7.1 Overview
10.7.2 Research Institutes: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
10.8 Others
10.8.1 Overview
10.8.2 Others: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
11. North America Medical Refrigerators Market – Country Analysis
11.1 North America: Medical Refrigerators Market
11.1.1 Overview
11.1.1.1.1 Overview
11.1.1.1.2 US: Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.1.3 US: Medical Refrigerators Market, by Temperature Control Range, 2019–2028 (US$ Million)
11.1.1.1.4 US: Medical Refrigerators Market, by Product Type, 2019–2028 (US$ Million)
11.1.1.1.5 US: Medical Refrigerators Market, by Design Type, 2019–2028 (US$ Million)
11.1.1.1.6 US Medical Refrigerators Market, by End User, 2019–2028 (US$ Million)
11.1.1.2 Canada: Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.2.1 Overview
11.1.1.2.2 Canada: Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.2.3 Canada: Medical Refrigerators Market, by Temperature Control Range, 2019–2028 (US$ Million)
11.1.1.2.4 Canada: Medical Refrigerators Market, by Product Type, 2019–2028 (US$ Million)
11.1.1.2.5 Canada: Medical Refrigerators Market, by Design Type, 2019–2028 (US$ Million)
11.1.1.2.6 Canada: Medical Refrigerators Market, by End User, 2019–2028 (US$ Million)
11.1.1.3 Mexico: Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.3.1 Overview
11.1.1.3.2 Mexico: Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.3.3 Mexico: Medical Refrigerators Market, by Temperature Control Range, 2019–2028 (US$ Million)
11.1.1.3.4 Mexico: Medical Refrigerators Market, by Product Type, 2019–2028 (US$ Million)
11.1.1.3.5 Mexico: Medical Refrigerators Market, by Design Type, 2019–2028 (US$ Million)
11.1.1.3.6 Mexico: Medical Refrigerators Market, by End User, 2019–2028 (US$ Million)
12. North America Medical Refrigerators Market – Industry Landscape
12.1 Overview
12.2 Organic Developments
12.2.1 Overview
12.3 Inorganic Developments
12.3.1 Overview
13. Company Profiles
13.1 Thermo Fisher Scientific Inc
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Philipp Kirsch GmbH
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Godrej & Boyce Manufacturing Co Ltd
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Haier Biomedical
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Blue Star Ltd
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Helmer Scientific Inc.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Vestfrost Solutions
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 PHC Holdings Corporation
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 FOLLETT LLC
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Glossary of Terms

LIST OF TABLES

Table 1.             North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
Table 2.             US Medical Refrigerators Market, by Temperature Control Range – Revenue and Forecast to 2028 (US$ Million)
Table 3.             US Medical Refrigerators Market, by Product Type – Revenue and Forecast to 2028 (US$ Million)
Table 4.             US Medical Refrigerators Market, by Design Type – Revenue and Forecast to 2028 (US$ Million)
Table 5.             US Medical Refrigerators Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 6.             Canada Medical Refrigerators Market, by Temperature Control Range – Revenue and Forecast to 2028 (US$ Million)
Table 7.             Canada Medical Refrigerators Market, by Product Type – Revenue and Forecast to 2028 (US$ Million)
Table 8.             Canada Medical Refrigerators Market, by Design Type – Revenue and Forecast to 2028 (US$ Million)
Table 9.             Canada Medical Refrigerators Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 10.          Mexico Medical Refrigerators Market, by Temperature Control Range – Revenue and Forecast to 2028 (US$ Million)
Table 11.          Mexico Medical Refrigerators Market, by Product Type – Revenue and Forecast to 2028 (US$ Million)
Table 12.          Mexico Medical Refrigerators Market, by Design Type – Revenue and Forecast to 2028 (US$ Million)
Table 13.          Mexico Medical Refrigerators Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 14.          Organic Developments Done by Companies
Table 15.          Inorganic Developments Done by Companies
Table 16.          Glossary of Terms, North America Medical Refrigerators Market
 
 

LIST OF FIGURES

Figure 1.           North America Medical Refrigerators Market Segmentation
Figure 2.           North America Medical Refrigerators Market Segmentation, By Country
Figure 3.           North America Medical Refrigerators Market Overview
Figure 4.           Laboratory Refrigerators and Freezers Segment Held Largest Share of North America Medical Refrigerators Market
Figure 5.           US to Show Significant Growth During Forecast Period
Figure 6.           North America PEST Analysis
Figure 7.           North America Medical Refrigerators Market: Impact Analysis of Drivers and Restraints
Figure 8.           North America Medical Refrigerators Market – Revenue Forecast and Analysis – 2020- 2028
Figure 9.           North America Medical Refrigerators Market Revenue Share, by Product Type (2022 and 2028)
Figure 10.        Laboratory Refrigerators and Freezers: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11.        Blood Bank Refrigerators and Plasma Freezers: North America Medical Refrigerators Market – Revenue and Forecast to 2028  (US$ Million)
Figure 12.        Pharmacy Refrigerators and Freezers: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13.        Cryogenic Freezers and Storage Systems (including LN2 Cryogenic Storage System): North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14.        Vaccine Refrigerator/Freezer: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15.        Others: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16.        North America Medical Refrigerators Market Revenue Share, by Design Type (2022 and 2028)
Figure 17.        Countertop Medical Refrigerators: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18.        Undercounter Medical Refrigerators: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19.        Explosion-Proof Refrigerators: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20.        Flammable Material Storage Refrigerators: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21.        North America Medical Refrigerators Market Revenue Share, by Temperature Control Range (2022 and 2028)
Figure 22.        Between -1 to -50°C: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23.        Between 2 to 8 °C: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24.        Between -51 to -150°C: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25.        Below -151°C: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26.        North America Medical Refrigerators Market Revenue Share, by End User (2022 and 2028)
Figure 27.        Hospitals and Pharmacies: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28.        Blood Banks: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29.        Pharmaceutical Companies: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30.        Diagnostic Centers: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31.        Research Institutes: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32.        Others: North America Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33.        North America: Medical Refrigerators Market, by Key Country – Revenue (2022) (US$ Million)
Figure 34.        North America: Medical Refrigerators Market, by Country, 2022 & 2028 (%)
Figure 35.        US: Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
Figure 36.        Canada: Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
Figure 37.        Mexico: Medical Refrigerators Market – Revenue and Forecast to 2028 (US$ Million)
 
 

● Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America medical refrigerators market.
● Highlights key business priorities in order to assist companies to realign their business strategies
● The key findings and recommendations highlight crucial progressive industry trends in the North America medical refrigerators market, thereby allowing players across the value chain to develop effective long-term strategies
● Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
● Scrutinize in-depth North America market trends and outlook coupled with the factors driving the medical refrigerators market, as well as those hindering it
● Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution

The List of Companies – North America Medical Refrigerators Market

● Blue Star Ltd                                                 
● FOLLETT LLC                                            
● Godrej & Boyce Manufacturing Co Ltd     
● Haier Biomedical                       
● Helmer Scientific Inc.                                
● PHC Holdings Corporation                   
● Philipp Kirsch GmbH                        
● Thermo Fisher Scientific Inc           
● Vestfrost Solutions                                    

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