The industrial refrigeration system market is expected to grow at CAGR of 6% over the forecast period 2021-2026. Increased use of packaged and processed food and beverages in the developing are accelerating the demand of industrial refrigeration systems to prevent the spoilage of fully and semi-processed food and drinks.
- The rapid increase in demand for the safe storage of blood, blood derivatives, temperature-sensitive medicines from hospitals, pharmacies, clinics, and diagnostic centers are also fueling the growth of the refrigeration system market across the world.
- Rising research activities for the treatment of chronic and infectious diseases has led to the replacement of older medical refrigerators with newer and more advanced energy-efficient cold storage devices. For instance, in 2019, the UK MRC and the Japan Agency for Medical Research and Development AMED collaborated to conduct research on infectious diseases to provide bi-lateral support to biomedical and health researchers in the UK and Japan.
- COVID-19 outbreak has outspace the hospitals supply and people are dying due to the lack of medical equipments. The United States have 4,35,000 COVID-19 positive cases with more than 14,500 fatality as of 9th April 2020. Refrigerator trucks have been brought into the New York city (USA epicenter) to store bodies of deceased coronavirus patients. The U.S. Federal Emergency Management Agency (FEMA) has announced to send 85 more refrigerated trucks to New York to cope with the increasing number of victims.
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