The global thawing system market size was significantly robust in 2022 and is expected to register a steady revenue CAGR over the forecast period. Key factors providing impetus to market revenue growth are technological advancements in thawing devices, increasing usage for research and treatment of diseases such as cancer and diabetes, rising investments in research and development activities, and increasing healthcare spending globally.
Thawing system is used to treat chronic diseases as well as a variety of blood-related disorders. During blood transfusion, medical thawing is a critical step as blood and plasma-based products stored in extreme cold must be melted before being used. Microprocessors are used in thawing devices to control temperature of water bath which is used for cryopreserved ovum, semen, and embryo samples. Therefore, increasing demand for fresh frozen plasma and blood products is expected to drive demand for advanced thawing systems around the world.
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Major Factors Driving Growth Of The Global Thawing System Market:
Revenue growth of the global thawing system market is significantly driven by rising prevalence of chronic diseases, increasing demand for blood and plasma products as well as new product launches and agreements, and technological advancements to ease and simplify thawing processes. Government programs to promote awareness regarding plasma donation, increasing number of embryo donors and rising awareness about third-party reproduction are other factors expected to positively impact market revenue growth during the forecast period.
Factors Restraining Growth Of The Global Thawing System Market:
The global thawing system market growth is substantially hampered by several unfavorable factors. Rising automation costs that are associated with technological advancement can be one of the major factor restraining growth of market. In addition, factors such as high levels of consolidation and complex regulatory framework for new product approval are other factors expected to negatively impact market growth over the forecast period.
Opportunities For Players Operating In The Global Thawing System Market:
Rise in chronic diseases drives demand for blood and plasma products leading to high demand for thawing devices. Advent of technology can make thawing process simpler and easier. These are some factors that are expected to continue to open up lucrative business opportunities for major players and new entrants in global market.
Global Thawing System Market Leading Product Type Segment:
Based on product type, the manual thawing system segment is expected to reach the highest revenue share over the forecast period. High usage of manual thawing devices due to affordable prices and availability of a variety of products are factors that drives the growth of this segment. In addition, rising demand in point-of-care settings is another factor expected to boost segment’s growth.
Thawing System Market Leading Sample Type Segment:
Based on sample type, the blood sample segment is expected to dominate all other segments in terms of revenue generation over the forecast period. Rising incidence of hemorrhage and increasing demand for blood and blood related products are factors expected to drive growth of this segment going ahead.
Thawing System Market Leading End-Use Segment:
Based on end-use, the blood bank and transfusion centers segment is expected to reach the highest revenue share over the forecast period. Major factors contributing to this segment’s growth are high use of thawing systems in blood bank and transfusion centres.
North America Accounts For Largest Revenue Share In Global Thawing System Market:
Among regional markets, North America emerged as the largest market for thawing systems in 2020, with the highest revenue share. Revenue growth in the North America market is mainly attributed to the region’s high adaptability to technology and rising prevalence of chronic diseases. Presence of major key players in the region is another factor that drives growth of the market.
Asia Pacific Continues To Lead In Terms Of Revenue CAGR:
The Asia Pacific thawing system market is expected to register the fastest growth in CAGR over the forecast period. Presence of large patient population in countries such as India, China, and Japan, rising prevalence of chronic diseases, improving medical facilities, and technological advancements are some key factors expected to drive market growth over the forecast period. Increasing number of chronic disorders that cause organ failure is driving demand for thawed blood. Being a flourishing medical tourism industry, these countries are producing technologically advanced technology and provide a wide range of innovative surgical treatment alternatives. Lower treatment cost is another major factor that further drives market growth
Major Companies Profiled In The Report:
- Fremon Scientific Inc.
- Helmer Scientific Inc.
- Barkey GmbH & Co. KG
- Boekel Scientific
- KW Scientific Apparatus Srl
- Cardinal Health
- Sarstedt AG & Co. KG
- Thermo Fisher Scientific, Inc.
- Sartorius AG
Strategies And Objectives Of Major Companies:
- In February 2020, FreMon Scientific got approval for Zip Sleeve and Zip Thaw systems, which are thawing devices that are safe, easy to use, lightweight, dry, and require almost zero maintenance.
- In September 2020, Boekel Scientific introduced FS100, which is a new high-capacity floor standing platelet incubator and agitator for storing platelets in hospitals and blood facilities. This gadget can hold up to 100 units of platelets and employs advanced thermoelectric heating and cooling to keep them at the right temperature.
- In December 2023, Pluristem Therapeutics Inc. entered into a license agreement with subsidiary of Chart Industries, Inc. for distribution of thawing devices.
What Our Report Provides And Why Our Offering Is Better:
This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2023 to 2032. The global market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the global market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues.
Detailed Segmentation In Our Report:
For the purpose of this report, the global thawing system market is segmented on the basis of product type, sample type, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2023-2032)
- Automated devices
- Manual devices
Sample Type Outlook (Revenue, USD Billion; 2023-2032)
- Whole Blood and Red Blood Cells
- Stem Cells
End-Use Outlook (Revenue, USD Billion; 2023-2032)
- Blood Bank and Transfusion Centers
- Biotechnology and Pharmaceutical Companies
- Tissue Banks
- Research and Academic Institutes
Region Outlook (Revenue, USD Billion; 2023-2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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