SELBYVILLE, Del., July 20, 2021 (Newswire.com) – According to the latest report “Biomedical Warming and Thawing Devices Market by Product (Manual, Automatic), Sample (Blood Products, Ovum/Embryo, Semen), End-use (Hospitals, Research Laboratories, Pharmaceutical Industry, Blood Banks and Transfusion Centers), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of biomedical warming and thawing devices will cross $308 million by 2027.
Increasing volume of research in the biotechnology sector for development of regenerative medicine, precision surgery, personalized therapeutics and immunotherapy among others is augmenting the demand for thawing devices and is expected to grow significantly. According to a recently published report, in 2019 and 2020, the biotech sector witnessed double-digit growth related to fundraising from venture capitalists and co-developments, joint ventures and partnerships among biotech companies is further increasing the research activities. As per the Lancet journal, the global biomedical research expenditure is projected to reach around a quarter of a trillion U.S. dollars annually in the coming years. Increased funding and financial support for biotech research activities will further promote the use of cryopreserved samples.
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Biotechnology research incorporates cryopreserved cells, tissues and other products on a high scale. For instance, cryopreserved primary neuronal cells and cardiomyocytes are frequently utilized in neuroscience and cardiology research. Cryopreserved biologics are extensively deployed in biotech research in multiple fields such as stem cell research, discovery science, diagnostics development and genomics. These products are essential for supporting several cell-based applications, including stem cell therapy, assisted reproduction and tissue engineering. Ongoing developments in these areas have increased the clinical demand of cryopreserved products. With the growing utilization of cryopreserved cells, the demand for biomedical warming and thawing devices is anticipated to surge at an accelerated rate in the coming years. Moreover, the rising developments in bioengineered products intended to facilitate therapeutics in several diseases are further poised to fuel the biomedical warming and thawing devices market growth.
The automatic segment in the biomedical warming and thawing devices market was valued at over USD 59 million in 2020. The use of automated warming and thawing devices reduces several drawbacks of water-bath-based and conventional manual approaches. These devices incorporate mechanical heating mechanism, and computerized control and monitoring, thereby eliminating user-to-user variability and offers consistent process that exterminates the need of intervention from user. Automated thawing devices have an extensive range of applications and can be applied successfully to be used in non-cellular therapeutic materials including plasma samples. In addition, considering the quality assurance aspect in biomedical warming and thawing, automated systems offer standardized, rapid warming rate and temperature read-out of the thawing process in certain cases for monitoring traceability are driving the rising preference for automated systems.
The biomedical warming and thawing devices market for ovum/embryo segment will showcase 9.3% growth rate through 2027 led by the growing infertility rates and increasing adoption of in vitro fertilization (IVF) and embryo transfer. According to the Centers for Disease Control and Prevention (CDC), around 6% of married women in the U.S. belonging to the 15 to 44 years age group face infertility concerns and around 12% of women face difficulty carrying a pregnancy to term. The growing prevalence of infertility has led to acceptance of treatment measures such as in vitro fertilization (IVF) or embryo transfer that incorporates cryopreserved or thawed embryos. According to the National Embryo Donation Academy of U.S., there are approximately 1,000,000 embryos in storage in the country as of 2021 and the number has almost doubled with the number of embryos around 500,000 in 2011. Furthermore, the high success rate of embryo cryopreservation, the rising use of vitrification that provides enhanced outcomes and identical IVF pregnancy rates are further slated to promote the product demand. Patients are increasingly receiving embryo cryopreservation for a broad range of indications, and their number has increased significantly.
The pharmaceutical end-use segment in the biomedical warming and thawing devices market is anticipated to reach USD 35 million by 2027 on account of the increasing research spending and studies in the pharmaceutical sector. Stem cells, blood components and other tissues host a great potential for wide range of applications in pharmaceutical and medical research. Advancements in diagnostic technologies have facilitated growing utilization of cell-based functional assays in drug development and discovery process in the pharmaceutical industry. Screening assays that incorporate cryopreserved cells reduces day-to-day variation, eliminates passage effects that is hampering the research and improvises the precision and consistency of cell-based assay outcomes. Additionally, the launch of advanced products in the biomedical warming and thawing devices market that offers clinical benefits in research is further set to promote the product adoption rate.
Brazil’s biomedical warming and thawing devices market is estimated to grow at 8.4% CAGR by 2027 owing to the rising incidence of accidental injuries across the country. According to the World Health Organization (Who), the burden of road accidents and associated mortality is more than 1.2 million people on yearly basis and nearly over 90% of these accidents occur in low- and middle-income economies such as Brazil. Brazil’s road accident mortality rate per 100,000 people is over 20 and is significantly higher than surrounding countries. As per the World Health Rankings, around 43,698 deaths were reported associated with road traffic accidental mortalities in Brazil, accounting for 3.96% of total deaths in 2018. The increasing incidence of accidents and accidental injuries would require blood transfusion for managing the patient’s health, thereby fostering the demand for cryopreserved blood and blood components.
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Some of the major players operating in the biomedical warming and thawing devices market are Helmer Scientific, Brook Life Sciences, Sartorius AG, Sarstedt AG & Co. KG, Boekel Scientific, Barkey, Cytiva, Cardinal Health, and BioLife Solutions. These companies are implementing several strategies such as product launches, research collaborations, distribution partnerships to strengthen their industrial positioning.
Table of Contents (ToC) of the report:
Chapter 3 Biomedical Warming and Thawing Devices Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 – 2027 (USD Million)
3.3 Industry impact factors
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By product
3.4.2 By sample
3.4.3 By end-use
3.5 COVID-19 impact analysis
3.6 Porter’s analysis
3.7 Competitive landscape, 2020
3.8 PESTEL analysis
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