Medical Thawing System Market Growth & Trends
The global medical thawing system market size is expected to reach USD 278.8 million by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.5% during the forecast period. The growing demand for medical thawing systems in blood banks and laboratories, where it requires warming of products such as crystalloid infusion solution, whole blood, and RBC before transfusion into a patient, is expected to drive the growth. Technological advancements in automated thaw systems at the point of care settings and rising demand for rapid thawing techniques of frozen plasma in various surgical procedures are the factors augmenting the market growth. Besides, the rising use of thawed cells due to the high incidence of road accidents, diabetes, cancer, and trauma cases are also creating demand.
The rising number of surgical procedures and increasing incidence of hemorrhage related conditions in these surgical procedures are driving the healthcare thawing system market growth. Rising demand for thawed blood to be more rapidly available for hemorrhage in various invasive surgical procedures is the major contributor to the market growth. Moreover, the increasing number of product launches and continuous improvement in the features of the thaw system is also contributing to the demand. The increasing number of embryo donors and the rising awareness about third-party reproduction is also augmenting the demand for thawing systems. According to the Centers for Disease Control and Prevention, there were more than 2.6 lakhs attempts at in vitro fertilization in 2016.
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Medical Thawing System Market Report
Medical Thawing System Market Report Highlights
- North America captured the largest revenue share in 2019 owing to technological advancement and speedy FDA approval
- By type, the manual thaw system segment dominated in 2019 owing to high usage in blood banks and transfusion centers
- By sample, the blood segment dominated the market in terms of revenue in 2019, due to the increasing number of surgical procedures and rising need for a quick thaw
- Based on end-use, blood bank and transfusion centers dominated the market in 2019, owing to the increasing number of blood banks