Freeze and Thaw Systems Market 2022
Freeze and Thaw Systems Market is slated to grow on a decent note, i.e. witness a CAGR of 6.8% from 2022-2032, reaching US$ 665.3 Mn by the year 2022-2032. Workflows are getting streamlined due to increased connectivity and quicker internet. This is an era of medical IoT, which goes on to implement wearable devices and several other integrated applications for catering to healthcare needs. This would continue shortly as well.
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Persistence Market Research published a report on the freeze & thaw systems market, which considers the global industry analysis 2014 – 2018 and forecast 2019-2032, and projects that the freeze & thaw systems market is expected to reach ~ US$ 270 Mn by the end of 2019 in terms of value, and is forecasted to reach ~ US$ 665.3 Mn by the end of 2032.
Company Profiles:
- BioLifeSolutions, Inc.
- CARON Products & Services, Inc.
- Farrar Scientific
- GE Healthcare Life Sciences
- HOF special plant construction GmbH
- Meissner Filtration Products, Inc.
- Precision Cryosystems
- Sartorius AG
- Single Use Support GmbH
- Thermo Fisher Scientific, Inc.
- W. L. Gore & Associates, Inc.
- ZETA Holding GmbH
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Increasing Demand for Disposable Systems Anticipated to Drive the Growth of the Freeze & Thaw Market
The demand for disposable freeze & thaw systems is increasing as these offer many benefits. For instance, disposable freeze & thaw systems developed by Sartorius Stedim Biotech could be assessed as products with potential to replace large container-based freeze & thaw stainless steel tanks. These freeze & thaw systems have capacity equivalent to a 100L bag-in-box vessel, and are set with equipment needed for freeze & thaw, transportation, and storage of these containers.
Disposable freeze & thaw system bags get filled with raw materials of larger capacity in comparison to ones that are made up of stainless steel. These also get frozen immediately due to the provision of heat exchange plates. This arrangement provides effective and efficient heat transfer as well as protection of the bag. One can also monitor the progress of freezing in disposable freeze & thaw systems through a temperature sensor, which is located at the centerline of the container.
With so many advantages to offer, it is likely that the market of freeze & thaw systems will be driven by the increased demand for disposable freeze & thaw products in product manufacturing industries.
Increasing Demand for Freeze & Thaw Systems in the Biopharmaceutical Industry
The freeze & thaw systems market is also driven by the presence of large biopharmaceutical companies that install these systems in their manufacturing units. With growing regional expansion of biopharmaceutical industries, the market of freeze & thaw systems is also likely grow significantly in the forecast period due to the increasing demand in product manufacturing. In these industries, freeze & thaw systems are supplied with containers for process development and aseptic transfers from lab to industrial scales.
Freeze & thaw systems are equipped with three key components: cooling and heating unit, a container, and a thawing device. The container is used for quick freezing, thawing, and transporting biopharmaceutical products. The thawing device is used for seamless execution of the batch process. Besides, another advantage of using freeze & thaw systems is that these can also be used in research and development where the process operation takes place with minimal amount of product.
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Growth of the Healthcare Industry in Emerging Nations to Fuel the Growth of the Freeze and Thaw Market
According to the World Bank, in recent years, various emerging economies of East and South Asia have witnessed increase in the ease of doing business. As a result, these countries are witnessing spur in FDI (Foreign direct investment). Developing regions such as China, India, Malaysia, and Indonesia have outstripped economic growth compared to developed economies. This, in turn, is expected to drive the growth investment across various domains including healthcare sector in these countries.
According to a World Bank report, China’s invested almost 6% of its GDP in 2016 for improving its healthcare sector and this expenditure is expected to double by 2020 due to the country’s aggressive healthcare development plan.
Changing demographics in emerging nations is expected to boost growth opportunities for medical devices and healthcare companies including those that manufacture freeze & thaw systems. Moreover, due to the growing healthcare infrastructure in these regions, both regions are lucrative markets for freeze & thaw system manufacturers to invest and could fetch high dividends.
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