The biomedical warming and thawing devices market is projected to witness substantial growth by 2027 primarily driven by the soaring demand for blood and plasma transfusions across the globe. Moreover, growing consumer interest in cryopreservation is expected to further impel market expansion over the forecast period.

Recently, to monetize on the booming market demand in key regions, companies have been focusing on product development and innovation, thereby fostering industry outlook. For instance, in January 2020, FreMon Scientific, a US-based medical equipment provider, announced that its ZipThaw device was granted FDA clearance as a Class II medical device for frozen plasma thawing.

ZipThaw, the first dry & portable precision plasma thawing device in the world, is utilized in conjunction with the ZipSleeve anti-contaminant disposable barrier and enables clinicians to provide patients with plasma in time and at the right temperature. The device requires virtually no maintenance, ensures that the thawing is accurately measured, and makes end-to-end thawing process easy to handle with fewer technical personnel.

For comprehensive assessment, the biomedical warming and thawing devices market has been categorized based on product, sample, end-use, and region. In terms of product, the market has been segmented into automatic and manual.

In 2020, the automatic sub-segment held a considerable revenue share in the biomedical warming and thawing devices market and is estimated to reach a valuation of around USD 105 million by 2027. Mounting preference for automated systems, along with numerous advantages offered by automated thawing devices, is likely to boost segmental adoption over the following years.

With respect to sample, the market has been divided into ovum/embryo, semen, blood products, and others. The blood products sub-segment was valued at over USD 83 million in 2020 and is projected to expand at a steady pace over 2021-2027. Increasing occurrences of accidental deaths and injuries causing severe bleeding and blood loss are anticipated to fuel segmental growth in the coming years.

From the end-use perspective, the market has been segregated into blood banks and transfusion centers, research laboratories, hospitals, pharmaceutical industry, and others. In 2020, the blood banks and transfusion centers sub-segment accounted for more than 32% of the biomedical warming and thawing devices market and is speculated to progress at a steady CAGR over the analysis period. National policies promoting donation of blood and plasma have led to an increase in the number of blood banks & transfusion centers across the globe, which is slated to foster segmental outlook in the future.

On the regional spectrum, the Middle East & Africa biomedical warming and thawing devices market was valued at approximately USD 12 million in 2020 and is expected to observe robust growth through the study timeframe. Growing usage of cryopreserved products across various countries in the region is set to propel market expansion over the forecast timeline.