Global Ultra-low Temperature Freezer Market Overview
Ultra-low temperature freezers, or ULT freezers, are used to store biological items such as blood & blood components, drug compounds, chemicals, enzymes, etc. They are used across the healthcare industry, such as in hospitals, research institutes, blood banks, etc.
The ultra-low temperature freezer market is predicted to expand at a CAGR of 4.4% over the forecast period of 2020-2030. The market is expected to experience immense growth due to the ever-growing demand for blood & blood products, which is one of the key driving factors of this industry.
Growing research & development activities among key players and government support for clinical trials have also proven to be propellers for the expansion of the ultra-low temperature freezer market size. Amidst all these factors, the COVID-19 pandemic has also notably affected the market in a positive way.
Due to the pandemic, there has been an exorbitant increase in blood & blood component demand throughout the globe, thereby boosting the ultra-low temperature freezer market.
Ultra-low Temperature Freezer Market Product Type Insights
On the basis of product type, the market is segmented into two distinct types, i.e. upright ultra-low temperature freezers and chest ultra-low temperature freezers. The upright ULT freezers segment holds over 60% market share. This product type also has a higher growth rate as compared to chest ULT freezers.
The key reason being, increased demand for blood component storage in hospitals, blood banks, etc. Upright ULT freezers also require lesser floor space than chest freezers. Additionally, the design of upright freezers gives a convenience factor-ease of access of products stored-which is responsible for their high demand.
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Ultra-low Temperature Freezer Market End User Insights
End user segments of the ultra-low temperature freezer market include biobanks, hospitals, pharmaceutical & biotechnology companies, and academic & research institutes. Although the other end user segment holds a considerable share in the market, hospitals account for large share i.e. 40% of the ULT freezer market, globally.
The foremost reason being, increased demand in hospitals for the storage of several products such as blood components, chemicals, enzymes, etc. Rise in R&D activities by research institutes and steady advancement in technologies also act as driving factors for the ultra-low temperature freezer market.
Regional Outlook of Ultra-low Temperature Freezer Market
North America is a key region of this market, due to rising demand for ultra-low temperature freezers, advanced healthcare industry, increasing number of hospital admissions, and rising number of blood banks. Furthermore, regions such as Europe and Asia are expected to gain and increase their ultra-low temperature freezer market share, owing to rise in population, growing prevalence of chronic diseases, rising medical tourism, increase in research activities, growing storage demand.
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Ultra-low Temperature Freezer Market: Key Players
The ultra-low temperature freezer market is fairly fragmented in nature. Several key players hold a worthwhile position in the market. These players are observed to be engaged in organic as well as inorganic growth strategies. Leading key players of the ULT freezer market are Eppendorf AG, Helmer Scientific, Panasonic Healthcare Corporation, Thermo Fisher Scientific, Arctiko A/S, Bionics Scientific Technologies (P) Ltd, Glen Dimplex, Haier Biomedical, LABCOLD, and Remi Group.
The Analyst’s Viewpoint
“Key players should focus on growth avenues and technological advancements in upright ULT freezers, owing to rapidly rising increase in their demand, globally”.
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COVID-19 Impact on Ultra-low Temperature Freezer Market
The COVID-19 disease caused by SARS CoV-2 coronavirus has had a significant negative impact, globally, from a business standpoint. However, the case has been the opposite for the ultra-low temperature freezer market. Due to the worldwide threat caused by the pandemic, there has been a substantial boost in demand, as hospitals and research institutes have shown an increasing need for these products, owing to rising requirement for storage facilities for all end-user segments of this market.
Ultra-low Temperature Freezer Market: About the Report
Fact.MR published an exclusive forecast report on the ultra-low temperature freezer market for 2020 and 2030. The foremost objective of this report on the ultra-low temperature freezer market is to pitch spearhead insights on the market scenario, demand generators, and technological advancements. Also, the study on the ultra-low temperature freezer market addresses key dynamics that are expected to diversify the sales and future prominence of ultra-low temperature freezers.
The report on the ultra-low temperature freezer market begins with an executive overview, in which, product definition has been provided. The report further proceeds with the taxonomy of the ultra-low temperature freezer market, elaborating on key segments.
Also, the report outlines visionary insights on the dynamics of the ultra-low temperature freezer market, including the drivers, restraints, opportunities, trends, and pricing analysis, along with key buying factors. Supply chain analysis and pricing analysis of the ultra-low temperature freezer market along with the difference between ultra-low temperature freezers used as per application have also been included in the report, to help readers clearly understand the product framework map in the global ultra-low temperature freezer market.
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Ultra-low Temperature Freezer Market: Segmentation
Fact.MR has studied the ultra-low temperature freezer market with detailed segmentation on the basis of type, degree of cooling, application, end user, and key regions.
- Upright Ultra-low Temperature Freezers
- Chest Ultra-low Temperature Freezers
Degree of Cooling
- -41 to -86 Celsius
- -87 to -150 Celsius
- Blood & Blood Products
- Flammable Materials
- Biological Samples
- Drug Compounds
- Pharmaceutical and Biotechnology Companies
- Academic and Research Institutes
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than the addressee(s) is unauthorized and prohibited.”
Ultra-low Temperature Freezer Market - Scope of the Report
A recent study by Fact.MR on the ultra-low temperature freezer market offers a 10-year forecast for 2020 and 2030. The study analyzes crucial trends that are currently determining the growth of the ultra-low temperature freezer market.
This report explicates on vital dynamics such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the manufacturing of ultra-low temperature freezers. The study also provides the dynamics that are responsible for influencing the future status of the ultra-low temperature freezer market over the forecast period.
A detailed assessment of the ultra-low temperature freezer market value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the ultra-low temperature freezer market along with their product portfolio enhances the reliability of this comprehensive research study.
Ultra-low Temperature Freezer Market: Report Summary
The study offers a comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales in the ultra-low temperature freezer market across the globe.
A comprehensive estimate on the ultra-low temperature freezer market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of ultra-low temperature freezers during the forecast period. Price point comparison by region with global average price is also considered in the study.
Ultra-low Temperature Freezer Market: Analysis on Market Size Evaluation
The ultra-low temperature freezer market has been analyzed for each market segment in terms of volume (Units) and value (US$ Mn).
Market estimates at global and regional levels for ultra-low temperature freezers is available in terms of “US$ Mn” for value and in “Units” for volume. A Y-o-Y growth contrast on prominent ultra-low temperature freezer market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global ultra-low temperature freezer market.
Ultra-low Temperature Freezer Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the ultra-low temperature freezer market report, which have helped deliver projections on regional markets. These chapters include regional macros (political economic and business environment outlook), which are expected to have a momentous influence on the growth of the ultra-low temperature freezer market during the forecast period.
Country-specific valuation on demand for ultra-low temperature freezers has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value and volume for emerging countries has also been included in the report.
Ultra-low Temperature Freezer Market: In-depth Analysis on Competitive Landscape
The report sheds light on leading manufacturers of ultra-low temperature freezers, along with their detailed profiles. Essential and up-to-date data related to the market performers who are principally engaged in the production of ultra-low temperature freezer has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
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