North America Medical Refrigerators Market Forecast to 2028

According to the research team’ research, the North America medical refrigerators market was valued at US$ 2,075.80 million in 2023 and is expected to reach US$ 2,795.95 million by 2028, registering a CAGR of 6.1% from 2023 to 2028.Increasing demand for blood and blood components and government support for research activities and clinical trials are the critical factors attributed to the North America medical refrigerators market expansion.

Blood and blood components perform many vital functions in the body. Consequently, severe blood loss could result in life-threatening conditions such as hypovolemic/hemorrhagic shock, which require an immediate blood transfusion to prevent organ failure and death. Blood transfusion is one of the important steps in many surgical procedures, as well as in chemotherapy, stem cell therapy, and organ transplantation procedures; it is also employed in the treatment of acute and chronic diseases caused by deficiencies or defects in plasma proteins or cellular blood components to avoid complications such as life-threatening hemorrhage or to improve the quality of life by blood-related diseases. For instance, as per the data provided by WHO, anemia affects ~25% of the population, i.e., ~1.6 billion people, worldwide; the prevalence of the condition is highest, i.e., 47.4%, among toddlers and children of preschool age. As per the estimates of the National Hemophilia Foundation, more than 400,000 people in the world are affected by hemophilia. According to the American National Red Cross 2018 data findings, ~7,000 units of platelets and 10,000 units of plasma are required daily in the US, and ~21 million blood components are transfused each year in the US. The need for blood transfusion may arise anytime in urban and rural areas. Unfortunately, millions of people are supplied with unsafe blood due to poor storage and inappropriate checking practices. Blood and blood components can be stored safely in laboratory freezers by adhering to strict regulations. Blood bank refrigerators have evolved to become more than just reliable cold storage devices. These refrigeration units are equipped with compressors and insulated cabinets required of any refrigeration device, and they provide advanced control over temperature, storage contents, warning alarms, and so on. The increasing demand for safe blood and blood components for transfusion has encouraged the manufacturing or development of various types of blood bank freezers; it has also triggered the adoption of ULT freezers for secure storage due to the strict guidelines imposed by the WHO for the storage of blood samples, thereby contributing to the North America medical refrigerators market growth.

On the contrary, high costs associated with ultra-low temperature freezers hurdles the growth of North America medical refrigerators market.

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. The between – 1°c and – 50°c segment held 38.9% share of North America medical refrigerators market in 2023, amassing US$ 807.59 million. It is projected to garner US$ 1,115.89 million by 2028 to expand at 6.7% CAGR during 2023–2028.

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. The laboratory refrigerators and freezers segment held 40.9% share of North America medical refrigerators market in 2023, amassing US$ 848.29 million. It is projected to garner US$ 1,110.70 million by 2028 to expand at 5.5% CAGR during 2023–2028.

Based on design type, the North America medical refrigerators market is segmented into explosion-proof refrigerators, undercounter medical refrigerators, countertop medical refrigerators, flammable material storage refrigerators. The countertop medical refrigerators segment held 47.3% share of North America medical refrigerators market in 2023, amassing US$ 980.95 million. It is projected to garner US$ 1,307.45 million by 2028 to expand at 5.9% CAGR during 2023–2028.

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. The hospitals and pharmacies segment held 41.4% share of North America medical refrigerators market in 2023, amassing US$ 859.85 million. It is projected to garner US$ 1,180.90 million by 2028 to expand at 6.6% CAGR during 2023–2028.

Based on country, the North America medical refrigerators market is segmented into the U.S., Canada, Mexico. Our regional analysis states that the US captured 81.5% share of North America medical refrigerators market in 2023. It was assessed at US$ 1,691.72 million in 2023 and is likely to hit US$ 2,297.99 million by 2028, exhibiting a CAGR of 6.3% during the forecast period.

Key players profiles in the North America medical refrigerators market report 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, among others.

1. Introduction
1.1 Scope of the Study
1.2 The Research Team 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

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
 
 

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)