Top 5 Vendors in the Global RFID Blood Refrigerator and Freezer Market from 2016 to 2020: Technavio

Technavio has announced the top five leading vendors in their recent global RFID blood refrigerator and freezer market report. This research report also lists six other prominent vendors that are expected to impact the market during the forecast period.

The growing focus on epidemiology and translational science, along with the generation and preservation of biological samples (which includes variants of blood) for studies and experimentation, has increased the need for storage solutions that can extend the shelf life of blood.

Approximately 50% blood donations happen in high-income countries, which have only 20% of the global population. There is an emphasis on proper storage facilities to store, track, and monitor blood that is supplied or transported to countries that face a shortage of blood units, thereby requiring advanced refrigerating systems.

The global RFID blood refrigerator and freezer market is moderately concentrated with the presence of large and small-sized players. The competition among these players is intense. The market is growing rapidly with an increase in the requirement of blood rising from the growing number of diseases that require surgeries involving blood transfusions.

“The demand will be high in emerging countries, especially in India and China due to an increase in the number of diagnostic laboratories and hospitals as a result of largely unmet patient needs. These countries will constitute the fastest-growing market,” says Amber Chourasia, a lead lab equipment analyst from Technavio.

Product differentiation makes it imperative for vendors to distinguish their product and service offerings through a distinct functionality and unique value proposition. The end-users in the market consider factors such as machine cost, service and software cost, training cost, accessories cost, and maintenance cost before buying RFID storage solutions. Vendors are focusing on providing solutions with features such as consistent quality to reduce errors and improve patient safety, prevent counterfeit products, and improve patient flow management, productivity, and business process.