Ultra-Low Temperature Freezer Market

Ultra-Low Temperature Freezer Market Study by Upright Freezers and Chest Freezers for Blood & Blood Products, Flammable Materials, Biological Samples, and Drug Compounds from 2024 to 2034

Analysis of Ultra-Low Temperature Freezer Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Ultra-Low Temperature Freezer Market Outlook (2024 to 2034)

The global ultra-low temperature freezer market size is calculated at a size of US$ 581.6 million in 2024 and is projected to expand at a CAGR of 4.4% to reach US$ 894.5 million by 2034-end.

The COVID-19 pandemic influenced this market in a big way. Due to the pandemic, there was an exorbitant increase in blood & blood component demand throughout the globe, thereby boosting sales of ultra-low temperature (ULT) freezers. The COVID-19 pandemic also increased the importance of adequate storage facilities among all end users.

  • In February 2021, Godrej Appliances introduced refrigerated mobile vans and ultra-low temperature freezers for the transportation of COVID-19 vaccines across India. These refrigerators maintain a temperature of 2 to 8o Celsius, suitable for storing temperature-sensitive vaccines including Covaxin and Covishield.
  • In December 2020, Scientific Laboratory Services (SLS) and Eppendorf signed a contract to supply ultra-low temperature freezers across the United Kingdom for transporting COVID-19 vaccines.

Growing research & development activities and government support for the clinical trials of chronic and infectious disease drugs are proving to be propellers for global ultra-low temperature freezer market growth. Increasing importance of energy efficiency and sustainability are some of the ultra-low temperature freezer market trends driving the demand for eco-friendly cooling solutions.

  • The North American ultra-low temperature freezer market size is estimated at US$ 139 million in 2024.
  • East Asia is forecasted to capture 23.1% of the global ultra-low temperature freezer market share by 2034.
Report Attribute Detail
Ultra-Low Temperature Freezer Market Size (2024E) US$ 581.6 Million
Forecasted Market Value (2034F) US$ 894.5 Million
Global Market Growth Rate (2024 to 2034) 4.4% CAGR
South Korea Market Value (2034F) US$ 47.7 Million
Upright Ultra-low Temperature Freezer Demand Growth Rate (2024 to 2034) 4.1% CAGR
Key Companies Profiled Bionics Scientific Technologies (P) Ltd; Glen Dimplex; Haier Biomedical; Thermo Fisher Scientific; Arctiko A/S; Eppendorf AG; BINDER GmbH; Azbil Corporation; Panasonic Healthcare Corporation; BioLife Solutions Inc.; PHC Corporation; LABCOLD; Remi Group; Helmer Scientific Inc.

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What’s Increasing the Need for Ultra-Low Temperature Freezers?

“ULT Freezers Crucial for Storage and Transportation of Blood During Emergencies”

Blood transfusion is considered a supportive therapy for surgery, chemotherapy, and organ transplantation, along with the treatment of acute and chronic diseases. Blood loss due to any specific disease or accident also affects one health.

  • According to the World Health Organization (WHO), anemia is a leading public health concern, with pregnant and postpartum women, young children, and menstruating adolescent girls and women at the top suffering from anemia.
  • In addition to this, the Centers for Disease Control and Prevention reported that each year, around 1.35 million people pass away due to roadway incidents across the world. Road traffic crashes are a leading cause of death for people ages 5 to 29.

Cancer-related procedures and pregnancy complications require a severe call for blood transfusion. The ULT freezers and vans play an important role in ensuring the safe storage and transportation of blood and blood components.

Why Do Some Healthcare Settings Avoid Using Ultra-low Temperature Freezers?

“High Cost of Advanced Ultra-low Temperature Freezing Technologies”

For setting up advanced and adequate ultra-low temperature freezer infrastructure huge capital is required. The hospitals operating on a constrained budget usually avoid the adoption of ultra-low temperature freezer technologies. Such settings opt for alternatives such as dry ice, liquid nitrogen, or biomedical refrigerators.

Several leading companies are investing heavily in the production of automated ultra-low temperature freezers. Automation directly increases the price of these freezers. Thus, the above-mentioned factors are expected to hamper the ultra-low temperature freezer sales growth in the coming years.

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Start-up Ecosystem

  • Yotuh Energy is an Indian start-up that manufactures electric refrigeration systems for vehicles used in cold chain logistics. The system offered by Yotuh Energy has features such as variable-speed AC and multiple modes for optimizing cooling based on needs. The system offers both rapid cooling and energy-saving options.
  • Ember LifeSciences is a United States-based start-up that offers a self-refrigerated and cloud-based shipping box named Ember Cube. The company’s patent technology simplifies logistics and speeds up its reuse for the next deliveries.

Country-wise Analysis

Which is the Leading Market in the North American Region?

“Rising Investments in Genetic Research Increasing Use of Ultra-low Temperature Freezers in the U.S.”

Attribute United States
Market Value (2024E) US$ 61.9 Million
Growth Rate (2024 to 2034) 4.8% CAGR
Projected Value (2034F) US$ 99.1 Million

Presence of key producers of ULT freezers in the United States is primarily supporting the market growth. The country’s focus on the development of precision medicine, high investment in genetic research, and growing demand for personalized medications are further increasing the adoption of advanced ultra-low temperature freezers. The country being first at adopting new technologies is driving its position as the frontrunner in the North American market growth.

What is the Demand Outlook for ULT Freezers in Japan?

“Increasing Healthcare Expenditure Driving Opportunities for Ultra-low Temperature Freezer Suppliers”

Attribute Japan
Market Value (2024E) US$ 37.6 Million
Growth Rate (2024 to 2034) 4.9% CAGR
Projected Value (2034F) US$ 60.8 Million
  • According to the World Health Organization, there is a marked difference in the level of access to blood between low and high-income countries. The median blood donation rate across high-income countries is 31.5 donations per 1,000 people, compared to 5 per 1,000 across low-income countries.

Well-coordinated blood and blood product systems are enhancing the life-saving impact of hospitals and other healthcare settings in Japan. During the COVID-19 pandemic, Japan fell behind in the availability of ultra-low temperature freezers. To overcome this challenge, the government started investing more in advancing healthcare infrastructure, which has subsequently driven up the sales of ultra-low temperature freezers.

What’s Driving Sales of Ultra-low Temperature Freezing Technologies in Germany?

“Increasing Cancer Cases and Growing Investments in Cancer Research”

  • According to the World Health Organization (WHO), Europe comprises only one-eighth of the total world population but has around one-quarter of the global total of cancer cases with some 3.7 million new patients per year.

Several clinical trials for developing oncology medicines are taking place in Germany, leading to increasing demand for ultra-low temperature freezers. Germany is one of the most populous countries in Europe and also holds top rank in cancer cases. The increasing number of cancer cases leading to surgeries is set to boost the demand for ultra-low temperature freezers in healthcare settings.

Know thy Competitors

Competitive landscape highlights only certain players
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Category-wise Analysis

Which Type of ULT Freezer is Most Widely Utilized?

“Preference for Energy-Efficient Chest Ultra-low Temperature Freezers”

Attribute Chest Ultra-low Temperature Freezers
Segment Value (2024E) US$ 295.4 Million
Growth Rate (2024 to 2034) 4.7% CAGR
Projected Value (2034F) US$ 466.1 Million

Chest ultra-low temperature freezers are anticipated to exhibit increasing demand during the forecast period. Chest ULT freezers are highly energy efficient with temperature stability. They can store a high volume of samples. The adoption of chest ULT freezers is increasing due to their rising use in biological sample preservation and long-term specimen storage.

Who is the Leading User of Ultra-low Temperature Freezers?

“Large Storage Capacity ULT Freezers Widely Utilized by Biobanks”

Attribute Biobanks
Segment Value (2024E) US$ 196.6 Million
Growth Rate (2024 to 2034) 4.1% CAGR
Projected Value (2034F) US$ 294.3 Million

Biobanks are forecasted to capture 32.9% of the global market share by 2034. Biobanks highly require ultra-low temperature freezers to maintain the viability and stability of valuable specimens such as cells, tissues, and DNA. Rising demand for personalized therapeutics and precision medicine is driving the growth of bio-banks, which is subsequently increasing the adoption of ultra-low temperature freezers.

Competitive Landscape

Key players in of ultra-low temperature freezer market are focused on introducing new product ranges with enhanced freezing capabilities, besides other approaches, including collaborations, partnerships, and acquisitions.

  • In October 2023, Haier Biomedical introduced its new line of energy-efficient TwinCool Frequency Conversion Ultra-low Temperature Freezers for clinical research, pharmaceutical, and public health laboratories.
  • In June 2021, Thermo Fisher Scientific announced the launch of its advanced TSX Series ULT Freezers, which are the only systems to offer an exterior illumination option that simplifies use by enabling quick visual inspection of freezer health status. These systems also include frost management capability, which features an adjustable cabinet heater that minimizes frost and ice build-up and comes with enhanced wireless monitoring and cloud-connected functionality to maintain optimal storage conditions.

Fact.MR provides detailed information about the price points of key manufacturers of ultra-low temperature freezers positioned across the world, sales growth, production capacity, and speculative technological expansion, in the recently updated market report.

Key Segments of ULT Freezer Market Research

  • By Type :

    • Upright Ultra-low Temperature Freezers
      • Floorstanding
      • Benchtop/Undercounter
    • Chest Ultra-low Temperature Freezers
  • By Degree of Cooling :

    • -41 to -86 Celsius
    • -87 to -150 Celsius
  • By Application :

    • Blood & Blood Products
    • Flammable Materials
    • Biological Samples
    • Drug Compounds
    • Others
  • By End User :

    • Biobanks
    • Hospitals
    • Pharmaceutical & Biotechnology Companies
    • Academic & Research Institutes
  • By Region :

    • North America
    • Latin America
    • Western Europe
    • Eastern Europe
    • East Asia
    • South Asia & Pacific
    • Middle East & Africa

- FAQs -

What is the size of the ultra-low temperature freezer market?

The global ultra-low temperature freezer market is estimated at US$ 581.6 million in 2024.

What size will be the ultra-low temperature freezer market reach by 2034?

Sales of ultra-low temperature freezers are projected to reach US$ 894.5 million by 2034.

What is the estimated demand growth for ultra-low temperature freezers?

Demand for ultra-low temperature freezers is forecasted to increase at a CAGR of 4.4% from 2024 to 2034.

Which is a profitable regional market for ultra-low temperature freezer manufacturers?

North America is forecasted to capture 24.3% of the global market share by 2034.

What is the market scenario for ULT freezers in South Korea?

The market in South Korea has been calculated to expand at a CAGR of 5.1% from 2024 to 2034.

Which type of ultra-low temperature freezer is widely utilized?

Chest ultra-low temperature freezer sales are foreseen to reach US$ 466.1 million by 2034.

Who are the top manufacturers of ultra-low temperature freezers?

Key market players are Haier Biomedical, Thermo Fisher Scientific, Arctiko A/S, Eppendorf AG, and BINDER GmbH.

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Ultra-Low Temperature Freezer Market

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