Albany – NY, Dec. 26, 2017 (GLOBE NEWSWIRE) -- Thawing systems are utilized for defrosting biological samples in pharmaceutical companies, diagnostic centers, biotechnology, and biobanks. Thawing comes under the primary manufacturing processes in the biopharmaceutical industry. Thawing systems comprise of containers and thaw bags for process development. Thawing systems benefit the research and development process by minimizing the amount of sample required.
As per the latest report published by Transparency Market Research (TMR), the global market for thawing system will witness a CAGR of more than 10% during the forecast period (2017-2026), the global thawning system market revenues is expected to the reach close to US$ 350 Mn by 2026-end.
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Global thawing system demand is primarily driven by its increasing use in the biopharmaceutical industry. Those biopharmaceutical companies involved in drug making require thawing systems for storing and transporting pharmaceutical products. In addition, factors such as sterile designs and short process cycles have resulted in increase of thawing systems application in end-user industries.
A number of bio-repositories all over the world are investing heavily in expanding their storage capacities. Moreover, thawed cells are also finding application in treatment and analysis of disorders such as diabetes and cancer. Small- & medium-sized vendors continue to exhibit low adoption owing funds shortage. High cost of automation is expected to inhibit the growth of the market during the forecast period.
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In terms of revenue, North America is expected to dominate the global market for thawing system in 2017, and the trend is expected to continue throughout the assessment period. North America’s thawing system market is set to expand at a CAGR of 11.9% between 2017 and 2026. Adoption of low cost of manual thawing systems is expected to remain significantly high during the forecast period. On the basis of product type, the manual thawing system segment is expected to remain highly lucrative in 2017 and beyond. On the other hand, demand for automated thawing systems are also expected to witness an uptrend, especially in research institutes and biopharmaceutical companies due to their advanced applications as well as high efficacy and effectiveness.
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Automated thawing systems segment are likely to out outgrow manual thawing systems over the next couple of years. Increasing prevalence of the blood associated diseases has been instrumental in driving the demand for automated thawing systems. Further, increase number incidences of trauma and accidents is leading to increase requirements of blood transfusions and cryopreserved blood products.
Biotechnology and pharmaceutical firms in the U.S. are heavily investing in drug discovery & development programs. Moreover, favorable government policies has led to development of biobanks, in order to enhance storage and supply of blood in hospitals and other healthcare settings. The thawning system market in North America is expected to remain highly profitable during the forecast period. Meanwhile, the market in Asia-Pacific excluding Japan (APEJ) is also anticipated to exhibit fast growth in the forthcoming years.
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