Market Analysis
The Global Ultra-Low Temperature Freezer Market Overview is gauged to touch USD 598.36 million at a stellar 4.20% CAGR over the assessment period (2022-2030). 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 personalabs, hospitals and medical clinics. Keeping samples cold plays a big role in the current research scenario. The samples often require being extremely cold which in most cases should be below −86° and here ULT freezers act 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 offer features that are worth examining. The ULT freezers have a range of temperature between - 45 C to - 86C.
There are many factors that are 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 with freezing embryos may hamper the growth of the ultra-low temperature freezer market.
Regional Analysis
Based on region, the ultra-low temperature freezer market share report covers growth opportunities and latest trends across North America, Europe, Asia Pacific and Rest of the World. Of these, North America will remain at the forefront in the ultra-low temperature freezer market over the assessment period owing to increasing research projects, research and development activities, increasing health care expenditures and increasing support from the government for research and development activities. The market in this region is predicted to touch USD 393.9 million by 2022. In Europe, the ultra-low temperature freezer market will have a lucrative growth owing to factors such as focus on the creation of advent freezing equipment, increasing support from the government for research and development activities coupled with increased funding and the growing specialty services provided by different healthcare providers in this region. The ultra-low temperature freezer market in Europe is predicted to expand at a promising 2.8% CAGR over the assessment period. In the APAC region, the ultra-low temperature freezer market is a promising one that is expanding rapidly. The factors that can be attributed to the growth of the market here include growing number of research laboratories and growing need for quality appliances especially in healthcare. The ultra-low temperature freezer market here is predicted to touch USD 152.5 million by 2022.
Market Segmentation
Market Research Future report offers an all-inclusive segmental analysis of the ultra-low temperature freezer market on the basis of types and end-users.
Based on Type, it is segmented into Chest ULT Freezers and Upright ULT Freezers. Of these, the upright ULT freezers will have a major share in the market over the assessment period owing to advancements in technology and increasing adoption rate resulting in enhanced accessibility and operation management, need for less floor space and convenience to organize and monitor the frozen material.
Based on End-Users, the ultra-low temperature freezer market is segmented into academic and research institute, hospital, bio-banks and others.
Competitive Analysis
The ultra-low temperature freezer market is competitive and fragmented owing to the presence of a good number of players churning market competition. These players are striving to come up with freezers that are highly advanced to handle the day to day contamination challenge in the cell culture laboratories. The freezers which can actually reinforce the integrity and reliability of cold preservation process, reducing potential technical risks if any such as obstructions, disruptions and mechanical breakage rates that also reduce the environmental footprint of the laboratory all at once.
Key Players
Leading players profiled in the ultra-low temperature freezer market include Eppendorf AG, Thermofisher, Scientific Inc, Haier, Helmer Scientific, Panasonic Healthcare Corporation (North America),
and VWR International.
Feb 2019- Peter Swan and Sons Ltd have come up with its latest freezer having ultra-low temperature. Having a stainless-steel sealed interior, this freezer is a highly effective means of holding and preserving controlled temperatures. It comes with an alarm system, temperature display and an access port which will help researchers to monitor a product devoid of compromising the temperature.
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