Biomedical Refrigerators and Freezers Market Size, Share and Trends 2025 to 2034

Biomedical Refrigerators and Freezers Market Size and Forecast 2025 to 2034

The global biomedical refrigerators and freezers market size accounted for USD 4.42 billion in 2024 and is expected to exceed around USD 8.23 billion by 2034, growing at a CAGR of 6.41% from 2025 to 2034. The biomedical refrigerators and freezers market is expected to grow due to the increase in the adoption of biopharmaceuticals, the growth of healthcare industries, and the introduction of new technologies.

Biomedical Refrigerators and Freezers Market Key Takeaways

• North America led the biomedical refrigerators and freezers market share with the largest market share of 65% in 2024.
• The U.S. market has held a major market share of 40.8% in 2024.
• Asia Pacific is anticipated to witness the fastest growth during the forecasted years.
• By product, the plasma freezers segment contributed the biggest market share of 30% in 2024.
• By product, the laboratory/pharmacy/medical refrigerators segment is projected to grow at the fastest CAGR during the forecast period. 
• By end user, the blood banks segment accounted for the largest market share of 40% in 2024.
• By end user, the pharmacies segment is projected to witness the fastest growth during the forecast period.

Artificial Intelligence (AI) Integration in the Biomedical Refrigerators and Freezers Market 

The incorporation of the Internet of Things and AI-driven monitoring solutions potentially improves efficiency and device management, in addition to green technologies that improve the energy efficiency of cooling systems. The use of Artificial Intelligence and automation technology is transforming the biomedical refrigerators and freezers market by improving functionality and information tracking systems. With the use of AI in monitoring, laboratories will be able to track the status of the refrigeration units and perform predictive maintenance to ensure that the samples do not spoil. Automation tools increase workflow by allowing remote control and monitoring of refrigerators, ensuring consistent temperature maintenance and compliance with safety regulations. 

U.S. Biomedical Refrigerators and Freezers Market Size and Growth 2025 to 2034

The U.S. biomedical refrigerators and freezers market size was exhibited at USD 1.29 billion in 2024 and is projected to be worth around USD 2.45 billion by 2034, growing at a CAGR of 6.62% from 2025 to 2034.

North America accounted for the largest biomedical refrigerators and freezers market share in 2024. North America, especially the U.S., has an established healthcare infrastructure consisting of improved healthcare facilities, research centers, and many related industries, mainly in the field of pharmaceuticals and biotechnology. This infrastructure creates the need for biomedical refrigerators to preserve biological products, vaccines, and drugs. An increased number of research and developments in the life sciences, pharmaceutical, and biotechnology industries contribute to the high usage of biomedical refrigerators and freezers. These facilities need to have dependable storage systems since samples can be contaminated during experimenting or testing procedures.

Asia Pacific is anticipated to witness the fastest growth in the biomedical refrigerators and freezers market during the forecasted years. The growing number of patients with chronic diseases and the growth in the need for various blood components and medicines. Growing healthcare structures such as hospitals and laboratories to enhance their storage systems requisites are the major contributing factors for the biomedical storage market. Currently, the Asia Pacific biopharmaceutical industry is evolving, with some companies being committed to developing biologics and biosimilars. This growth calls for proper storage that helps to ensure that the products requiring such conditions are well stored, thereby increasing the need for biomedical refrigerators and freezers.

Market Overview

Biomedical refrigerators and freezers are medical equipment used in the storage of different biological samples including blood, medicines, blood derivatives, vaccines, biological reagents, RNA, and DNA. Biomedical freezers are primarily used to store fresh and frozen blood. These products provide optimum conditions and ensure the proficient storage required for biological samples. The biomedical refrigerators and freezers market is poised to experience exponential growth globally as researchers gradually focus on developing innovative technologies and products for treatment procedures.

The rising R&D activities in life sciences are the primary factor for the growth of the biomedical refrigerators and freezers market. The pharmaceutics and biotechnology business, scientific organizations, and research institutions are escalating their R and D activities in fields such as drug discovery and genetics/molecular biology. These activities encompass the handling of delicate biological samples, reagents, vaccines, and cell cultures, which are highly sensitive to temperature changes and stored at the correct temperatures for optimal functionality. In addition, the increase in biopharmaceuticals and clinical trials on new therapeutic agents, such as biologicals and individualized medicine, require complex cold chain infrastructure.

Biomedical Refrigerators and Freezers Market Growth Factor

• Rising healthcare and research activities: During the growth of healthcare facilities and the advances in the life sciences, there is a need to store biological samples and other supplies requiring a low temperature for effectiveness, such as drugs and lab gear.
• Strict regulatory requirements: These policies concern the handling, packaging, transportation, and storage of drugs, blood, and vaccines that are driving the market for biomedical refrigerators and freezers.
• Technological advancements: Technological advancement in refrigeration equipment including energy efficiency and temperature control is a factor that is contributing to the growth of the biomedical refrigerators and freezers market.
• Aging population: This factor is driven by population aging that is closely associated with chronic diseases that necessitate a constant supply and storage of medicines and other healthcare products, hence the need for biomedical refrigerators and freezers.

Market Scope

Market Dynamics

Drivers

Growing Geriatric Population 

Health-related problems are generalized in the elderly, and older people often take longer to recover from these conditions. The elderly population is prone to general diseases, including diabetic complications, cancer, cardiac ailments, neurological problems, and organ system dysfunction. The geriatric population needs many medical interventions, such as vaccines, drugs, and organ transplants, and most of them need biomedical fridges and freezers to store these commodities under the correct temperatures. Moreover, aging-related diseases and illnesses create a need for developing better and improved technologies for gerontology, increasing the demand for the biomedical refrigerators and freezers market. 

• According to the World Health Organization (WHO), by 2030, one in six individuals worldwide will be aged 60 or older. The number of people in this age group is expected to increase from 1 billion in 2020 to 1.4 billion by 2030. 

Restraint 

High cost of biomedical refrigerators and freezers

The high initial expenses required for the purchase of biomedical refrigerators and freezers are considered a major factor constraining the global market. Because of the expense of refrigerators, people could feel reluctant to purchase refurbished equipment, which hamper the development of the biomedical refrigerators and freezers market. Advanced models armed with sophisticated features like temperature monitoring systems, remote diagnostics, and energy-efficient designs often come with higher price tags. 

Opportunity

Rising demand for innovative techniques

Higher spending on R&D is expected to drive the need for biomedical refrigerators in the health sector. The market receives additional demand from educational and research sectors, utilizing medical refrigerators and freezers in their operations. In addition, government funding for research and clinical trials brings a considerable boost to the biomedical refrigerators and freezers market. Grants, subsidies, and tax credits make healthcare R&D investments that enhance patient benefits. Further growth in research and clinical trials around the world also drives the market forward as the need for biomedical refrigeration grows. Healthcare entities and manufacturers can leverage more opportunities in the demand for refrigeration services, propelling the overall market as well as the progress of biopharmaceutical innovation and advancements.

Product Insights

The plasma freezers segment noted the largest share of the biomedical refrigerators and freezers market in 2024. Plasma freezers are used to store plasma, blood plasma, and other biological samples at low temperatures. They are used in hospitals, blood banks, laboratories, and universities to store a wide range of products. New features developed by major plasma freezer manufacturers cut energy use, prevent crystallization, and ensure a balanced temperature distribution, one of the major drivers of growth in this market. Pharmaceutical companies and research organizations are constantly laboring to create new drugs and remedies from plasma. This is due to the rise in the requirement for plasma freezers to maintain the viability and stability of plasma samples that are collected to assist in research and development work.

The laboratory/pharmacy/medical refrigerators segment is projected to witness the fastest growth in the biomedical refrigerators and freezers market during the forecast period. The increasing need for precise storage of biological samples, reagents, and other temperature-sensitive materials used in laboratories for research and diagnostics has led to the rise of lab refrigerators. With more research activities being done worldwide and laboratories enhancing their equipment, there is a greater need for efficient and sound refrigeration systems.

End User Insights

The blood banks segment accounted for the largest biomedical refrigerators and freezers market share in 2024. A blood bank refrigerator is basic equipment used in storing and preserving blood and other biomedical specimens in diagnostic centers and other health-related organizations. Stringent regulation for the storage of blood components in the blood banks is one of the key factors stimulating the growth of the market. The market is experiencing growth in the segment of biomedical refrigerators and freezers because of the high popularity of sophisticated equipment for biomedical product storage. Blood bank refrigerators are constructed with safety and performance in mind, featuring user-friendly interfaces and precise temperature control. 

• WHO estimated that approximately 118.54 million blood donations are collected globally, 40% of these are collected in high-income countries, home to 16 % of the world’s population. Out of 169 countries and territories, 13,300 Blood centers claim to have collected a total of 106 million donations. 

The pharmacies segment is projected to witness the fastest growth in the biomedical refrigerators and freezers market during the forecast period. Biomedical refrigeration technology has improved, making these units more appealing to pharmacies with characteristics such as energy efficiency, monitoring, and integration of smart features. This growth is due to factors such as increased vaccine wastage and, therefore, demand for storage equipment, increased cases of adverse effects, and the use demand for biomedical refrigerators and freezers in pharmacies in developed nations. The growing establishment of specialty pharmacies that focus on dispensing drugs for complicated and chronic diseases makes the need for biomedical preservation appliances such as biomedical refrigerators and freezers higher. These pharmacies handle costly specialty medicines, which, on the other hand, require specific temperature control to remain potent.

Biomedical Refrigerators and Freezers Market Companies

• Panasonic Healthcare Corporation
• Haier Biomedical
• Eppendorf AG
• Power Scientific, Inc.
• Aegis Scientific, Inc.
• Follett LLC
• Helmer Scientific
• Thermo Fisher Scientific
• Azbil Corporation

Recent Developments

• In April 2024, Thermo Fisher Scientific, a contract development and manufacturing organization (CDMO), disclosed its latest ultra-low temperature (ULT) freezers. The TSX Universal Series ULT Freezers are reportedly capable of acclimating to scientists’ workflows across multiple lab settings.
• In February 2024, Helmer Scientific GX Solutions ultra-low temperature freezers were ENERGY STAR certified by the U.S. Environmental Protection Agency (EPA) for the High-Performance Laboratory Grade Freezer.
• In February 2024, PHC Corporation released a new model of the PHCbi brand VIP ECO SMART ultra-low temperature (ULT) freezer series with the freezer for medical institutions, universities, and pharmaceutical companies. 

Segments Covered in the Report

By Product 

• Blood Bank Refrigerators
• Shock Freezers
• Plasma Freezers
• Ultra Low-Temperature Freezers
• Laboratory /Pharmacy/Medical Refrigerators
• Laboratory /Pharmacy/Medical Freezers

By End Use 

• Hospitals
• Research Laboratories
• Pharmacies
• Diagnostic Centres
• Blood Banks
• Others

By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa