Undercounter Refrigerators Market
Undercounter Refrigerators Market By Product Type (Top freezer refrigerator, Side-by-Side refrigerator, Bottom freezer refrigerator, French door refrigerator, Mini Fridge), By End Use (Hospitals, Pharmaceutical companies, Retail pharmacy) - Global Market Insights 2018 to 2027
An undercounter refrigerator is a specially designed refrigerator used for the preservation of pharmaceutical drugs, medicines, vaccines, plasma and other blood components, temperature-sensitive biologicals and other pharmaceutical supplies. With the help of undercounter refrigerators, breast milk can be stored in patient rooms. Essentially, undercounter refrigerators are small and quiet enough to be used in patient rooms and are available in a wide range of temperature modes for small to medium applications.
Undercounter refrigerators and freezers differ on the basis of basic application and temprature uniformity. The temperature uniformity of undercounter refrigerators is ±3°C while that of freezers is ±5°C. Undercounter refrigerators are widely used in hospitals, diagnostic centers, research labs, pharmacies, blood banks and educational institutes. The biological samples stored in undercounter refrigerators necessitate precise conditions for effective storage. The increasing demand for customized undercounter refrigerators with specifications such as glass doors and decorative installations is the key factor anticipated to propel the demand in the coming years.
Undercounter Refrigerators Market: Drivers and Restraints
The increasing demand for blood transfusion, organ transplant, cellular therapies and the development of custom-made vaccines drives the demand for undercounter refrigerators. In addition to this, the increasing research in the fields of stem cells and medical science is expected to increase the acceptance of undercounter refrigerators. Thus, increasing investments in research activities in pharmaceutical, healthcare and life science sectors are expected to surge the demand for undercounter refrigerators. Market participants are focusing on developing various technologies to offer efficient cooling for medicine, research samples and blood and its components.
Attributing to their compact size and advanced cooling features, undercounter refrigerators are a preferred alternative for healthcare and life science facilities, specifically small laboratories where space and funds are limited. Undercounter refrigerators also provide stress-effective solutions as compared to conventional refrigerators. Low awareness regarding the benefits of undercounter refrigerators hinder the growth of the undercounter refrigerators market, especially in under-developed economies.
Undercounter Refrigerators Market: Overview
Increasing installations across hospitals and other healthcare facilities due to the development of medical infrastructure are anticipated to spur the demand for undercounter refrigerators and drive the global market. The introduction of advanced technologies and increasing demand from various end users such as hospitals, retail pharmacies and pharmaceutical companies are also expected to drive the growth of the global undercounter refrigerators market over the forecast period.
The implementation of stringent rules and regulations by various regulatory organizations regarding the suitable storage of pharmaceutical drugs, vaccines and blood components are anticipated to further boost the demand for undercounter refrigerators and drive the growth of the global undercounter refrigerator market in the long run.
Undercounter Refrigerators Market: Regional Outlook
North America is expected to be a prominent region in the global undercounter refrigerators market, due to technological advancements, the availability of developed medical infrastructure and rising demand for storage equipment in the region. Europe is also expected to be a lucrative market for undercounter refrigerators, due to the increasing investments by manufacturing companies in the region. Asia-Pacific is expected to be a fast growing market due to the increasing demand for undercounter refrigerators, development of medical infrastructure and rising number of healthcare facilities in the region.
The Latin America undercounter refrigerators market is expected to witness steady growth due to the increasing number of medical facilities in the region. The Middle East and Africa region is expected to be the least lucrative market, due to the presence of under-developed healthcare infrastructure in the region.
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Undercounter Refrigerators Market: Key Players
Examples of some of the market participants in the global undercounter refrigerators market include Thermo Fisher Scientific Inc., Philipp Kirsch GmbH, Panasonic Healthcare Co., Helmer Scientific, ARCTIKO, VWR International, LLC, Haier Biomedical, Eppendorf AG, , Biomedical Solutions Inc., Terumo Corporation and EVERMED srl.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
An Adaptive Approach to Modern-day Research Needs
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX)
- Eastern Europe (Russia, Poland, Rest of Eastern Europe)
- Asia Pacific Excluding Japan (China, India, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, Rest of MEA)
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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Undercounter Refrigerators Market: Segmentation
The global undercounter refrigerators market has been segmented on the basis of type of test, end user and region.
Based on the product type, the undercounter refrigerators market has been segmented as:
- Top freezer refrigerator
- Side-by-Side refrigerator
- Bottom freezer refrigerator
- French door refrigerator
- Counter-depth refrigerator
- Mini Fridge
Based on the end user, the undercounter refrigerators market has been segmented as:
- Ambulatory surgical centres
- Specialty clinics
- Retail pharmacy
- Pharmaceutical companies
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