As per the research report, the size of the Middle East and Africa Laboratory Freezers Market is valued at USD 0.25 billion in 2022 and estimated to grow at a CAGR of 4%, to reach USD 0.30 billion by 2027 during the forecast period 2022 to 2027.
Increased demand for blood and blood components for transfusion and cancer therapy support propels this market forward. In addition, this market is also being driven by technological advances in lab freezers.
One of the primary causes that will accelerate the expansion of laboratory freezers is the rising demand for organ transplant procedures, increased government support for research activities and clinical trials, and increased investment in developing new and advanced technology.
Furthermore, blood donation has surged across the Middle East and Africa, with the WHO forecasting a 7.8 million increase in voluntary unpaid blood donations from 2020 to 2026. The demand for lab freezers and refrigerators in blood banks will expand as the demand for blood and blood products and the expansion in blood collection increases.
Laboratory freezers are another critical consideration. They are utilized in both laboratories and research facilities. These freezers must meet specific safety and temperature consistency standards. As a result, they include various features and functions to ensure that essential chemicals, sensitive samples, and research materials are stored safely.
Hospitals, laboratories, and blood banks make significant capital investments in the cold storage of biomedical samples. However, on average, ultra-low-temperature freezers cost between $10,000 and 25,000, making them prohibitively expensive for smaller blood banks, hospitals, and laboratories.
The high cost of digitally equipped freezers, on the other hand, is projected to limit the demand for laboratory freezers in the Middle East and Africa.
Refurbished medical devices are often 50–60 percent less expensive than new instruments. However, many rising and developing countries' public healthcare spending for infrastructure enhancement is insufficient, limiting the adoption of technologically advanced medical devices in their healthcare systems.
This research report on the MEA Laboratory Freezers Market has been segmented and sub-segmented into the following categories.
By End User:
Geographically, the Middle East and Africa Laboratory Freezers Market have a moderate revenue share globally due to the significant healthcare spending during the forecast period.
The UAE Laboratory Freezers Market is expected to hold the dominant position due to the increased R&D activity in the pharmaceutical and life sciences industries and advanced healthcare infrastructure over the forecasted period.
The Saudi Arabia Laboratory Freezers Market is likely to increase in the following years due to the technical advancements, growth in the geriatric population, infrastructural upgrades at research laboratories, and an increase in medical tourism are the factors driving the market in the region.
The South African Laboratory Freezers Market is projected to witness a decent CAGR during the period due to the improvements in healthcare infrastructure & the development in Research & Development activities during the predicted period.
KEY MARKET PLAYERS
Key Market companies that dominated the MEA Laboratory Freezers Market profiled in the report are VWR Corporation (U.S.), ARCTIKO A/S (Europe), Biomedical Solutions Inc. (U.S.), EVERmed S.R.L. (Italy), Philipp Kirsch GmbH (Germany), Thermo Fisher Scientific Inc. (U.S.), Haier Biomedical (China), Eppendorf AG (Germany), Helmer Scientific (U.S.), and Panasonic Healthcare Co., Ltd. (Japan).,
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