According to FutureWise analysis the market for blood bank refrigerators is expected to reach US$ 189.63 million by 2031 at a CAGR of 5.67%.
A blood bank stores blood that has been collected from donors and is preserved for use in transfusion. The term "blood bank" usually refers to a section within a hospital, typically located in a Clinical Pathology lab. This is where blood product is stored and Blood compatibility tests are performed. Sometimes, however, it refers to a collection facility, while some hospitals also conduct the collection. Blood banking covers all aspects of blood collection, processing, testing, and storage. Routine blood storage lasts 42 days, or 6 weeks for stored packaged red blood cells (also called StRBC or "pRBC") and is the most common transfused blood product. This requires refrigeration but it is not usually frozen. The question of whether the age of a product unit affects transfusion efficacy is becoming more controversial. In particular, whether older blood causes complications or increases its effectiveness directly or indirectly. This question has been disputed by a variety of studies. Some have shown older blood to be less effective while others have not. However, because storage time is the only method to assess quality status or loss, an first–in–first-out inventory control approach is common. Also, it is important to remember that there is high variability among storage results for different donors.
This combined with limited quality testing poses challenges for regulators and clinicians searching for reliable indicators for quality blood products and storage system. For storage of blood components or whole blood, blood bank refrigerators are used at temperatures from 2 to 6 degrees Celsius. The blood bank fridge is an indispensable piece of equipment in the immunohematology division. It provides safe, convenient storage for reagents, blood components (e.g. plasma, blood cells), and whole blood. Blood bank refrigerators preserve the integrity and freshness both of blood and blood components. The refrigeration system includes interconnecting tubing and a capillary tube (or expansion valve) as well as an electrically powered compressor. A thermostat controls the refrigerator's temperature. The compressor and motor are often connected to the same shaft. They are sealed in an airtight container, which makes them easier to store. Either an optional or included temperature alarm is available.
A power backup system is needed in the event of a power cut. There are two types of configurations: tabletop and floor units. The market for blood bank refrigerators has seen an increase in accidents on roads, injuries sustained by soldiers, and injuries sustained during military operations around the world. The market for blood bank fridges is expected to grow due to technological innovations and innovation in blood bank refrigeration technology. But, strict regulatory requirements could hinder the market. The blood bank refrigerator market is being driven by increasing awareness of blood donations. Governments in developing countries are investing large amounts to improve their country's healthcare infrastructure. This will likely increase access to healthcare. This is expected to boost the demand for blood bank refrigerators. This market is booming because of the rise in surgeries and the sedentary lifestyle in developing countries.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Blood Bank Refrigerators Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Blood Bank Refrigerators Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.