Ultra-Low Temperature Freezer Market Predicted to Progress at a Sustainable Growth Rate | Industry Opportunities and Forecast 2019-2022Posted:
The Ultra-Low Temperature Freezers (ULT freezers) basically are bio-freezers that are used for preserving tissue samples, cell preparations, chemicals, enzymes, drugs, bacteria and viruses. It plays a pivotal role in storage along with protecting drugs as well as its sensitive ingredients for the continuity of research. Along with using temperature control, these freezers also allow adjustment of temperature to match the temperature capacity in the storage. The ULT freezers are largely utilized for safe storage of different samples in different laboratory, biotechnology, pharmacy and clinical applications.
Besides, it is also used in storing samples in personal labs, hospitals and medical clinics. Keeping samples cold plays a big role in the current research scenario. The samples often times requires being extremely cold which in most cases should be below −86° and here ULT freezers acts as a savior. The latest devices offer wonderful features for sample integrity and convenience. Right from stability, sample access, minimum temperature to footprint, the latest ULT freezers offers features that are worth examining. The ULT freezers have a range of temperature between – 45C to – 86C.
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There are many factors that is driving the growth of the ultra-low temperature freezer market. Some of these factors as per the Market Research Future (MRFR) report include increasing disease burden, focus on creating new drugs, various clinical studies to boost adoption of ULT freezers for storing biological samples efficiently, growing healthcare expenditure, increasing demand for advanced treatment, need for personalized medicines, technological advancements in the research tools, advanced treatment, increasing incidences of organ donations, increasing awareness in private and public organizations, ubiquitous technologies namely Internet of Things (IoT) and Artificial Intelligence (AI) in such freezers, substantial investments in research and development activities, advancement in surgeries and improving economic conditions. On the other hand, factors such as lack of awareness, soaring cost of the ULT freezers and ethical concerns associated to freezing embryos may hamper the growth of the ultra-low temperature freezer market.
Global Ultra-Low Temperature Freezer Market – Key Players
Some of the key players in this market are:
- Panasonic Healthcare Corporation of North America
- VWR International
- Helmer Scientific
- Eppendrof AG
- Thermofisher Scientific Inc.
Global Ultra-Low Temperature Freezer Market – Segments
The industry for Ultra-Low Temperature Freezer globally has been divided into the segment of sort which comprises of chest upright ULT freezers and ULT freezers. The end user segment of the industry is segmented into hospital, biobanks, academic & research institute among others. The regions included in the ultra-low temperature freezer industry include North America, Asia Pacific, Europe, and rest of the world.
Global Ultra-Low Temperature Freezer Market – Regional Analysis
Globally, the North American region is dominating the global ultra-low temperature freezer market. Factors substantiating the market growth include increasing R&D activities and research projects, extensive uptake of these advanced freezers, increasing governmental support for R&D activities and high health care expenditures. The ultra-low temperature freezer market in North America is expected to reach USD 393.9 Mn by 2022.
Europe region is another lucrative market for ultra-low temperature freezers. The market is heading with the increasing emphasis on the development of advent freezing equipment, rising government support for R&D activities with the increased funding. Besides, the rising numbers of specialty services offered by various healthcare providers provide impetus to the market growth in the region. Thus, the market in Europe is expected to grow at a CAGR of 2.8% from 2016-2022.
Global Ultra-Low Temperature Freezer Market – Key Finding
- The Global Ultra-Low Temperature Freezer Market and is expected to reach USD 701.4 million by 2022.
- Regionally, North America holds the largest market share for global Ultra-low temperature freezer market and is expected to reach USD 393.9 million by 2022.
- Asia-Pacific market is expected to be the fastest growing market and expected to reach at USD 152.5 million by 2022.
- On the basis of type, upright ULT freezers segment holds largest market share.
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