Medical refrigerators are designed to meet the temperature requirements for safe drug storage. Medical refrigerators are used to store vaccines, pharmaceuticals, chemotherapeutics, blood, plasma, and other samples that require tight temperature control. These are more reliable products for the storage of medicinal products as they emit less heat and less sound into the room. Rising occurrence of hematological disorders and an increment in the number of accidents have increased the requirement for plasma for employment in plasma fractionation operations. In return, this requirement has led to an increase in requirements for plasma freezers and refrigerators at the blood bank. These features are boosting demand for blood bank development worldwide. Thus, driving demand for refrigerators for medical and laboratory use.
THERMO FISHER SCIENTIFIC INC, and PHC Holdings Corporation – Notable Market Players in Medical Refrigerators Market
Market leaders operating in the market have undertaken various organic growth strategies in the medical refrigerators market. The medical refrigerators market majorly consists of the players THERMO FISHER SCIENTIFIC INC., Philipp Kirsch GmbH, Godrej & Boyce Manufacturing Company Limited, Haier Group Corporation, Blue Star Limited, Helmer Scientific Inc., Vestfrost Solutions, PHC Holdings Corporation, FOLLETT LLC, Lec Medical. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have utilized organic strategies such as launches, expansion, and product approvals. Moreover, the companies have utilized inorganic strategies including mergers & acquisitions, partnership, and collaborations.
Below is the list of the growth strategies done by the players operating in the medical refrigerators market:
| Year | News |
| Feb-2021 | Godrej Appliances, part of the Godrej & Boyce Group, is launched specially refrigerated mobile vans and ultra-low temperature freezers to help in transportation of coronavirus vaccines in India. |
| Feb-2021 | Blue Star Limited launched a new range of commercial refrigeration products and solutions which it said are ideal for storing vaccines. |
| Aug-2020 | PHC Corporation of North America introduced high performance pharmaceutical refrigerator designed for vaccine and biologics storage. The MPR-S300H-PA ECO Pharmaceutical Refrigerator has a space-saving cabinet which minimize energy consumption, simplify access to product and maximize use of available floor space in crowded healthcare facilities |
