Medical refrigerators market is projected to reach $ 5050.93M by 2028

The “Medical Refrigerators Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Product Type, Design Type, Door Type, Temperature Control Range, and End User” report has been added.

According to this report the market is projected to reach US$ 5,050.93 million by 2028 from US$ 3,397.48 million in 2021; it is expected to grow at a CAGR of 5.8% from 2021 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the market.

The healthcare sector has witnessed SARS, H1N1, and other outbreaks in the past a few years. However, the severity of COVID-19 outbreak has intensified due to its mode of transmission. The demand for medical refrigerators has increased globally owing to launch of COVID-19 vaccines and roll out of the vaccination programs in many countries. to cater to high demand many players have ramped up their production. For instance, in December 2020, Godrej Appliances ramped up its medical refrigerator production capacity for the COVID-19 vaccine cold chain in India. The company has a range of vaccine refrigerators that operate in the precise temperature band of 2-8C, and it also offers advanced medical freezers with cooling capacity up to -20C.

Based on design type, the medical refrigerators market is segmented into explosion-proof refrigerators, undercounter medical refrigerators, countertop medical refrigerators, and flammable material storage refrigerators. The countertop medical refrigerators segment held the largest share of the market in 2020. However, the undercounter medical refrigerators segment is estimated to register the highest CAGR in the market during the forecast period. The growth of the market for the countertop medical refrigerators segment is attributed to its compact size and ability to fit in smaller spaces, such as small reperch labs, clinics, and remote healthcare facilities. Business Wire