According to the report, global demand for Biomedical Warming and Thawing Devices Market was valued at approximately USD 138.48 Million in 2018, and is expected to generate revenue of around USD 270.57 Million by end of 2025, growing at a CAGR of around 10.09% between 2018 and 2025.
The transfer of cryopreserved biologics relied heavily on supply chain and logistics. Travel restrictions affected the supply chain during the pandemic, restricting the transfer of cryopreserved stem cells, blood products, and other items, further constraining the biomedical warming and thawing devices market’s growth. Despite the COVID-19 pandemic rules, cryopreservation and preserved biologic products are crucial for cell treatment and are expected to continue. Several stem cell transplant institutions, including the National Marrow Donor Program (NMDP), recommended freezing the stem cell products for long-term storage.
Transplant centers suggested cryopreservation of stem cell products due to the pandemic’s influence on cell donor and hospital availability, as well as transportation restrictions. The demand for biomedical warming and thawing equipment is expected to increase as the cryopreservation of biologics becomes more common.
The need for biomedical warming and thawing devices is expected to increase as the number of road accidents and trauma cases rises. According to the World Health Organization (WHO), road accidents result in roughly 1.3 million deaths per year, with an additional 20 to 50 million people injured. Road accidents can have a significant economic impact, particularly in poorer countries, where they account for approximately 3% of GDP (GDP). Similarly, the United States’ Population Reference Bureau (PRB) predicts that traffic accidents and accompanying fatalities will become the world’s third greatest cause of disease burden. Injury-related mortality account for more than 6 million deaths per year, with trauma and haemorrhage accounting for 30 to 40 percent of those deaths.
Thus, blood transfusion is an important aspect of therapies for patients suffering from unintentional accidents and trauma. It aids in health management in these circumstances. According to evidence, giving blood and blood components to critically bleeding trauma victims helps to reduce morbidity and mortality. According to a study published in PLOS Medicine, blood transfusion improves the chances of survival in trauma situations. Cryopreserved blood and blood components are heated and defrosted using biomedical warming and thawing machines. The rising incidence of accidents around the world is driving up demand for blood transfusions, which is expected to drive up revenue for biomedical warming and thawing equipment during the projected period.
In the biomedical industry, thawing devices are primarily used to defrost blood, tissues, cells, and other biologics samples. The notion of cryopreservation is lowering the temperature to a lower end, generally at sub-zero temperatures, in order to preserve cells and tissues efficiently and safely. As a result, defrosting these biological products for use becomes a requirement, and biomedical warming and thawing devices play a key role in this scenario by assisting in the warming and defrosting of cryopreserved products.
They also reduce the risk of cryopreservative chemicals damaging these products, as prolonged exposure to such chemicals can harm the living cells and other components of preserved products. Biomedical warming and thawing devices play a critical role in limiting cryopreservative agent exposure on preserved cells, preserving their efficiency and viability for use in various treatments and research and development activities. Furthermore, these devices have a wide range of applications in the pharmaceutical and biotechnology fields for various research and studies, as well as tissue culturing and animal and plant engineering.
Regional Analysis of the Global Biomedical Warming and Thawing Devices Market
In terms of geography, the United States now leads the global biomedical warming and thawing devices market in North America. This is due to the fact that the country has a large number of blood banks and transfusion clinics that keep frozen samples. The region’s market is also being driven by its excellent healthcare infrastructure. Because of its huge population and improving healthcare infrastructure, the Asia-Pacific biomedical warming and thawing devices market is expected to grow at the fastest rate in the near future.