Medical Thawing System Market Size, Share & Trends Analysis Report By Type (Manual, Automated), By Sample, By End-use (Blood Bank & Transfusion Centers, Hospitals, Tissue Banks, Biotechnology & Pharma), And Segment Forecasts, 2020 - 2027

Report Overview

The global medical thawing system market size was valued at USD 157.1 million in 2019. It is expected to expand at a compounded annual growth rate (CAGR) of 7.5% from 2020 to 2027. Rising awareness, increasing blood donors, and demand for advanced thawing solutions are some of the major factors boosting the market growth. The growing demand for thawing of plasma on-demand and technological advancement in thawing systems is also contributing to the growth. Hemorrhage is directly responsible for the majority of all trauma-related deaths.

Increasing demand for thawed blood to be more rapidly available for the management of major bleeding is contributing to market growth. A technologically advanced thaw system uses both controlled temperature and agitation to substantially reduce thawing time and also ensures the safety and efficacy of plasma. These advanced products are available in various sizes such as 2 bags, 4 bags, and 8 bags capacities to meet the needs.

Advanced thawing systems allow rapid thawing and maintaining tissue quality. Furthermore, features such as the space-saving design, LED digital temperature display, visual heater status indicator, and audiovisual high-temperature alarm makes the thawing system more reliable and dependable. Demand for rapid thawing of fresh frozen plasma at the point of care, operating room, procedure room, at the bedside, or the trauma location is expected to boost the growth of the medical thawing system market during the forecast period.

The increasing number of product launches and speedy Food and Drug Administration (FDA) approval are some of the major contributors to the growth of the market. For instance, in February 2020, FreMon Scientific received U.S. FDA approval for its Zip Sleeve and Zip Thaw system. It is a next-generation thawing device that is safe, lightweight, easy to use, dry, and requires nearly no maintenance. Moreover, a rise in awareness about plasma donation, rising government initiatives to boost plasma donation, and favorable reimbursement are contributing to the growth.

Product Type Insights

The manual thawing system segment dominated the market with a share of 57.1% in 2019. The segment share is primarily due to the availability of a wide range of products and high usage due to affordable prices. The automated thaw system is expected to grow at the fastest pace owing to its features such as portability, ease of use, and high adoption rate.

Moreover, increasing demand for the thawing system at the point of care settings is also contributing to the segment growth. Also, technological advancement and collaborations by major players in the industry are also adding growth to the automated thawing devices market. For instance, in December 2018, Pluristem Therapeutics Inc. entered into a license agreement with the subsidiary of Chart Industries, Inc. for the distribution of thawing devices.

Sample Insights

The blood sample segment accounted for the largest market share of 53.0% in 2019. The dominance is primarily attributed to factors such as increasing demand for blood and blood products and rising incidence of hemorrhage-related events.

The embryo segment is expected to grow lucratively during the forecast period. The high growth rate of the segment is primarily attributed to an increase in pregnancy rate and livebirth rate due to embryo donation. Moreover, the increasing adoption of in vitro fertilization (IVF) treatment for infertility is boosting the demand for advanced thawing systems. According to the Centers for Disease Control and Prevention, there were more than 2.6 lakhs attempts at in vitro fertilization in 2016. Furthermore, the number of embryo donor transfers is increasing due to several awareness campaigns. These factors are expected to boost the healthcare thawing system market during the forecast period.

End-use Insights

The blood bank and transfusion centers segment dominated the market with a share of 31.3% in 2019. The dominance is primarily due to the high usage of thawing systems in these blood banks and transfusion centers. According to the World Health Organization, there are 13,300 blood centers in 169 countries collecting a total of 106 million donations. The rising number of these institutes and donations is expected to fuel the overall market growth.

The tissue bank segment is expected to expand at the fastest CAGR during the forecast period. Tissue banks are institutions that recover and store human cadaver tissues for medical research and education. The most commonly stored tissues that are harvested and stored include tendons, skin, bone joints, cornea, cartilage, and dura mater. Most of these tissues have applications in treating burn patients. Advanced thawing systems help in increasing the success rate of tissue transplantation procedures. Increasing applications of tissue products and technological advancements are the factors expected to fuel market growth.

Regional Insights

North America dominated in 2019 with a market share of 47.4% and is expected to maintain its dominance over the forecast period. Regionally, the market is segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa. The high adoption rate, increasing incidence of chronic conditions, and the presence of major market players are the factors expected to drive the market in North America during the forecast period.

The Asia Pacific region is likely to register the fastest growth rate during the forecast period. The region consists of developing economies, majorly China, India, and Japan. These countries have a large patient pool with a high incidence of chronic diseases. An increase in the number of chronic diseases that lead to organ failures is expected to boost the demand for thawed blood. These countries are developing technologically advanced devices and offer various advanced surgical treatment options with booming medical tourism. Relatively lower treatment cost in the region attracts a significant number of patients to visit for medical reasons. These factors are expected to fuel the growth in the Asia Pacific region.

Key Companies & Market Share Insights

The leading players in the industry are Helmer Scientific (U.S.), Sartorius (Germany), Boekel Scientific (U.S.), Barkey, BioCision LLC, and Cardinal Health. These players have a wide product portfolio and engage in continuous product innovation. These companies also have products for all types of end-users such as hospitals, blood banks, and tissue centers. Furthermore, the increasing number of product launches and speedy FDA approval is also driving the market growth. For instance, in January 2016, BioCision, LLC commercially released two thaw systems for 6mL AY-Closed Vials and 1.5 mL cryogenic vials.

These players in the industry are focusing on the development of advanced thawing systems having applications in various cell therapies. Rising awareness of cell therapies and the high demand for specialized thawing systems for each cell type is expected to boost technological advancements for the devices. The industry is rapidly adopting these advanced thaw systems for general research and incorporation into in-process clinical trials and manufacturing. Some of the players in the global medical thawing system market include:

• Helmer Scientific Inc.

• SARSTEDT AG & Co. KG

• BioCision, LLC

• GE Healthcare

• Boekel Scientific

• Barkey

• Cardinal Health

• GE Healthcare

• Thermo Fisher Scientific

• Cytotherm

Medical Thawing System Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels as well as provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For this study, Grand View Research has segmented the global medical thawing system market report based on product type, sample, end-use, and region:

• Product Type Outlook (Revenue, USD Million, 2016 - 2027)

  • Manual

  • Automated

• Sample Outlook (Revenue, USD Million, 2016 - 2027)

  • Blood

  • Embryo

  • Ovum

  • Semen

  • Others

• End-use Outlook (Revenue, USD Million, 2016 - 2027)

  • Blood Bank & Transfusion Centers

  • Hospitals

  • Tissue Banks

  • Biotechnology & Pharma

  • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • South Korea

    • Australia

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE