Singapore Medical thawing system market was valued at $165.82 million
in 2019 and is expected to reach $279.17 million by 2027 with a CAGR of 11.6%
during the forecast period.
Singapore Medical thawing is a process developed to defrost biological
samples for cell biology research such as regenerative medicine, cellular
therapy, bio-banking, and drug discovery. Thawing makes samples free from
effects of cold (hardness, stiffness, and numbness) through exposure to warmth.
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https://www.alliedmarketresearch.com/medical-thawing-system-market-A10559
Majority of thawing systems supply heat to object surface,
followed by use of conduction to transfer heat to center of the object. A few
thawing systems use electromagnetic radiation to generate heat within the
object. Moreover, it is important to strike a balance while choosing a thawing
system for industrial use. Components such as visible condition of a product,
thawing time, cost of operation, and processing issues are must to be
considered while buying the system.
Increase in incidences of chronic diseases leading to rise
in demand for blood and plasma products, technological advancements to ease and
simplify the process of thawing, and rise in launches and agreement of medical
thawing systems are the major factors that propel the market growth. In
addition, rise in awareness and government initiative toward plasma donation,
increase in number of embryo donors, and rise in awareness regarding
third-party reproduction further propels growth of the medical thawing system market.
Moreover, the need for novel medicinal inventions is also expected to encourage
adoption of thawing systems during the forecast period.
By sample type, the Singapore medical thawing system market is
categorized into blood, embryo, ovum, and semen. The blood segment is expected to dominate the
market during the forecast period. This is attributed to rise in demand for
blood & blood products and increase in incidences of hemorrhage related
events. Further, the embryo segment is estimated to grow rapidly during the
forecast period, owing to increase in rate of pregnancy and live birth by
embryo donation. Furthermore, increase in adoption of in vitro fertilization
(IVF) treatment for infertility also propel the demand for advanced thawing
systems.
On the basis of end user, the market is segregated into
blood banks, hospitals, tissue banks, pharmaceutical & biotech companies,
and others. The blood bank segment dominated the market in 2019, owing to vast
utilization of thawing systems in transfusion centers and blood banks. Further,
the tissue bank segment is estimated to grow at the fastest rate during the
forecast period, as these institutions recover and store human cadaver tissues
for medical studies and education. Mostly tissues such as cartilage, skin,
tendons, bone joints, cornea, and dura mater are harvested and stored by these
institutions.
Region wise, the Singapore medical thawing system market is
analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America
dominated the market in 2019, owing to, increase in awareness programs
regarding blood donation and plasma donation. In addition, presence of leading
market players such as Boekel Scientific, GE healthcare, and Helmer Scientific
further propels growth of medical thawing system market in this region.
However, Asia-Pacific is expected to register highest CAGR, in terms of
revenue, during the forecast period, as the region has a large patient pool
with high incidences of chronic diseases. Increase in the number of chronic
diseases that lead to organ failures is expected to boost demand for thawed
blood.
Market players are adopting growth strategies such as
product launches, mergers and acquisitions (M&As), product developments,
and partnerships & collaborations to gain competitive advantage.
Prominent players operating in the Singapore medical thawing
system market include Barkey GmbH & Co. KG, Boekel Scientific, BioLife
Solutions Inc, Cardinal Health, Inc., General Electric Company, Helmer
Scientific, Sartorius AG, Sarstedt AG & Co. KG, Terumo Corporation, and
Thermo Fisher Scientific Inc.
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