Blood Plasma Freezer Market Size to Lead USD 903.01 Million by 2034

Blood Plasma Freezer Market Companies, Shares and Trends

The global blood plasma freezer market was estimated at US$ 542 million in 2023 and is projected to grow to US$ 903.01 million by 2034, rising at a compound annual growth rate (CAGR) of 4.75% from 2024 to 2034. The demand for blood plasma freezer is increasing globally to maintain the freezing temperature of fresh frozen plasma, red blood cells, platelet concentrates and cryoprecipitate for safe storage which results in efficient treatments for patients dealing with blood clot-related diseases.

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Market Overview

A blood plasma freezer is a specialized machine designed to maintain a stable, ultra-low temperature to preserve blood and blood plasma components. This medical storage unit is equipped with an advanced cooling system, which ensures the integrity of the stored sample. The application of the blood plasma freezer is observed at healthcare facilities and blood banks, and these sites are facilitated with cutting-edge features such as a secure locking mechanism and a safety alarm to protect the stored content. These valuable samples are commonly used for medical transfusions and research purposes. The blood plasma freezer is growing due to the increasing adoption at healthcare facilities and blood banks and the rising need to safely store critical blood components for an extended period. Moreover, the strict regulatory standards assure appropriate control and quality assurance of blood products.

Blood Plasma Freezer Market Trends

• In September 2024, Redcliffe labs, diagnostic centres & diagnosis labs in India, states to raise $42 million in Series C funding. The fundings are received from IFU, Denmark’s Investment Fund - $20 million, LeapFrog, an exciting investor - $15 million and the rest from shareholders such as HealthQuad and Spark Growth Venture. The aim is to use these funds to open more labs and collection centers along with a home collection network.
• In February 2024, Helmer Scientific, an industry-leading refrigerator and freezer for hospital labs, pharmacies, clinics, and research facilities, product – GX solutions Ultra-Low Temperature Freezer meets the ENERGY STAR certificate and is also recognized by the U.S Environmental Protection Agency (EPA).

Growing Need for Transfusion Services

The blood plasma freezer market is driven by the rising demand for blood and blood components and is anticipated to expand in the future as blood transfusion is required in complex medical and surgical interventions, which significantly improves the quality of life and increases the life expectancy of a patient. The clinical demand for blood and blood components is rising in healthcare facilities due to the need for timely availability of blood in case of emergency or selected procedure. Additionally, in the coming future, blood transfusion procedures will continue to grow with more focus on safety. The development of artificial blood from culture plates is expected to be witnessed. These genetically modified blood cells will be developed in the laboratories with the guidance of experts. In the next 10-15 years, there will not be any risk of transfusion, a neutral blood group, and no fear of alloimmunization.

For Instance,

• In June 2024, the All India Institute of Medical Science (AIIMS) performed India’s First and eighth global fetal blood transfusion procedure to save a child with a rare disorder. Due to the incompatibility between the RBCs of the mother and the baby led to complications. The mother was negative for Rh 17 antigen, which is rare to find, and due to the incompatibility, the baby developed anemia. Doctors were successful in saving both the mother and the baby.

Lack of Awareness about Blood Donation

Lack of awareness about blood donation restrains the blood plasma freezer market growth. Donated blood is essential for patients undergoing surgery, cancer treatment, traumatic injuries, accidents, chronic illnesses, and many more. This lack of awareness about blood donation is creating a hindrance to running out of resources and being unable to save lives and provide proper treatment. According to Red Cross Blood Donation, out of 38% of people in the U.S. eligible to donate blood, only 3 % donate. Due to this ratio, the supply never meets the required demand. As per the American Cancer Society, more than 1.9 million people were diagnosed with cancer in 2023 who needed blood during their chemotherapy treatment. As a result, people need to be educated about the benefits of blood donation; otherwise, this will continue to slow the blood plasma market growth.

For instance,

• In October 2024, Ram Manohar Lohia Institute of Medical Science (RMLIMS) organized a candlelight rally to promote awareness of blood donation. The State Blood Transfusion Council emphasized the importance of regular blood donation.

Regional Insights

North America held the largest revenue share in the blood plasma freezer market in 2023. In North America, the market is characterized by the American Red Cross, the world’s largest supplier of blood, plasma, and tissue products. It supplies blood and blood components to almost half of the nation. The North American region has the leading laboratories for research and development purposes and to deliver essential diagnostic healthcare information to patients. The collaborative landscape of organizations, laboratories, and biopharma companies is witnessed among major countries such as the U.S. and Canada, which contribute to encouraging healthcare facilities and expansion of the blood plasma freezer market.

Asia Pacific is expected to expand at the fastest CAGR during the forecast period. In the Asia Pacific, the market is experiencing robust growth and novel innovations with the help of leading companies. This region is working on enhancing the existing facilities and ensuring that patients are provided with reliable and quality blood samples. Asia Pacific aims to make transfusion medicine and biotherapies sales available and effective on a global scale.

Segment Insights

By type, the manual defrost segment led the blood plasma freezer market by holding the largest market share. It is anticipated that a manual defrost freezer is the best choice for storing certain sensitive biological materials. Manual defrost is widely used due to its simplicity, low maintenance, and low energy consumption. The healthcare facilities are adopted highly due to their cost-effective and minimal operational expense feature.

By type, the automatic defrost segment is estimated to witness the fastest growth over the studied period. The demand for automatic defrost is rising in the blood plasma freezer market due to its minimal temperature fluctuation during the defrost cycle and eliminates the need to move the sample which leads to no hampering with the sample.

By application, the hospital segment dominated the blood plasma freezer market in 2023. The rising demand for ease of availability of blood samples in hospitals in case of need drives the market in this segment. A high-performance freezer is required in hospitals to preserve the quality of blood and its medical effectiveness.

By application, the laboratory segment is anticipated to experience significant growth during the forecast period. This is due to the increasing demand for blood and blood components to undergo testing and processing in the laboratory, which can later be used for storage or distribution purposes when needed.

Recent Developments

• In October 2024, Thermo Fisher Scientific launched a new product line of high-performance ultra-low temperature (ULT) freezers. This medical device unit offers storage and preservation of blood and blood components. This I designed to increase the workflow across a variety of laboratory settings.
• In January 2024, Haier Biomedical introduced its inverter ultra-low temperature freezer. It delivers excellent performance, is energy efficient and environmentally friendly. These freezers offer all-round protection for sample storage and are ideal for blood stations, hospitals, CDCs, laboratories, and research institutes.

Top Companies in the Blood Plasma Freezer Market

• Haier
• PHC (Panasonic)
• Thermo Fisher Scientific
• Dometic
• Helmer Scientific
• Lec Medical
• Meiling
• Felix Storch
• Follett
• Vestfrost Solutions

Segments Covered in the Report

By Type

• Manual Defrost
• Automatic Defrost
• Others

By Application

• Hospital
• Laboratory
• Others

By Region

• North America
  • U.S.
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Thailand
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Sweden
  • Denmark
  • Norway
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East and Africa (MEA)
  • South Africa
  • UAE
  • Saudi Arabia
  • Kuwait