RFID Blood Refrigerators and Freezers Market

Market Overview:

The global RFID blood refrigerators and freezers market size reached US$ 291.4 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 971.8 Million by 2032, exhibiting a growth rate (CAGR) of 13.89% during 2024-2032.

Radio frequency identification (RFID) blood refrigerators and freezers refer to advanced temperature-controlled storage systems that collect and safely preserve various reagents and blood components, including plasma derivatives and red blood cells (RBCs). They encompass interconnected tubing, a capillary tube, a condenser, expansion, an evaporator, electrically powered compressors, and a thermostat that helps regulate refrigerator temperature. Some advanced models further comprise configurations, compressors, motors, and emergency power systems to provide energy backup during fluctuations. RFID blood refrigerators and freezers allow real-time tracking of critical platelet components and their conditions and maintain the product quality to comply with food and drug administration (FDA) regulations. Apart from this, they are intelligent, safe to use, and reliable and aid in minimizing technical errors and increasing operational efficiency. As a result, RFID blood refrigerators and freezers are used by hospitals and diagnostic centers to store blood for testing, storing, transporting, and transfusion purposes. 

RFID Blood Refrigerators and Freezers Market Trends:

The increasing prevalence of various chronic diseases, including leukemia, thalassemia, and hemophilia, and the rising incidences of blood loss post-surgical procedures are primarily driving the market growth. In line with this, the escalating need for blood banks in hospital settings to obtain plasma, samples, and platelets for conducting experiments and assessing cell functions is facilitating the product demand in the market. Additionally, the advent of advanced blood refrigerators and freezers with drawer racks composed of corrosion-resistant steel and handles is acting as another growth-inducing factor. Such products consist of identification cardholders, and they enable the storage of blood tubes in excessive amounts and their retrieval without the removal of the entire rack. Moreover, increasing initiatives and awareness programs by governments and non-governmental organizations (NGOs) toward educating the masses on the benefits and misconceptions of blood donation are favoring the market growth. Apart from this, significant improvements in the healthcare infrastructure, ongoing research and development (R&D) activities, and continuous product enhancements and diversification are positively stimulating the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global RFID blood refrigerators and freezers market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on types and applications.

Breakup by Types:

• RFID Refrigerators
• RFID Freezers
   

Breakup by Applications:

• Hospitals and Diagnostic Centers
• Blood Banks
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Angelantoni Life Science Srl, Biomed Global, Cardinal Health Inc., IQM AS, MedSella (MedFlow Clinical Ltd.), Qingdao Haier Biomedical Co Ltd., Rollex Group Australia PTY Ltd., SATO Vicinity Pty Ltd. (SATO Holdings Corporation), Spacecode Technologies, Terso Solutions Inc. (Promega Corporation), Thalheimer Kühlung GmbH & Co KG and Venture Research Inc. Kindly, note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global RFID blood refrigerators and freezers market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global RFID blood refrigerators and freezers market?
• What are the key regional markets?
• What is the breakup of the market based on the types?
• What is the breakup of the market based on the applications?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global RFID blood refrigerators and freezers market and who are the key players?
• What is the degree of competition in the industry?
   

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the RFID blood refrigerators and freezers market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global RFID blood refrigerators and freezers market.
• The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the RFID blood refrigerators and freezers industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.