PUBLISHER: Acute Market Reports | PRODUCT CODE: 1248128
PUBLISHER: Acute Market Reports | PRODUCT CODE: 1248128
Ultra-low temperature freezers (ULT freezers) are among the most crucial equipment used in healthcare sector to preserve biological samples, drugs, pathogens and others. ULT freezers are designed to operate between -460C to -860C. Thus, ultra-low temperature freezers have become highly popular in medical and R&D sectors to effectively preserve drugs, body organs and blood samples among others. Rising incidences of cancer and other infectious diseases is one of the prominent factors stimulating the market growth.
According to product type, the market is segmented into chest and upright ultra-low temperature freezers. Upright freezers dominated the market in 2021, owing to higher reliability and sophisticated design. Industry players are concentrating more on reducing energy consumption and further enhancing product design. Subsequently, the segment would retain its dominance in the market over the forecast period. Cost-effectiveness coupled with high storage capacity provided by chest freezers is estimated to ensure high segment growth worldwide during the forecast period. However, high energy consumption and manufacturing cost are some of the challenges for the market.
Rising investment towards life science research & development of orphan drugs is positively impacting the ULT freezers market growth. Presence of organizations (including Bills and Melinda), funding for effective research to cure widespread diseases is further expected to drive the ULT market in coming years. Technological advancement in ULT freezers including mobility, natural refrigerants and provision for maintaining temperature uniformity has ensured strong penetration of these equipment across the world.
Growing adoption of personalized medicines is also one of the most promising factors, influencing the demand for ultra-low temperature freezers. Similarly, rising demand for high value pharmaceuticals storage from hospitals, blood banks and research & academic institutes is another important factor supporting the market growth. Presence of microprocessor control panel coupled with air filters are some additive factors, stimulating the market growth. Furthermore, growing awareness about blood donation camps and body organ donations also has significant contribution to ULT freezers market growth.
Eppendrop AG, Antech Group, Inc., Helmer Scientific, Panasonic Healthcare Co., Ltd., Thermo Fisher Scientific, Inc., Arctiko A/S, Bionics Scientific Technologies Pvt. Ltd., GlenDimplex Company, Haier Biomedical, LABCOLD Ltd., Azbil Telstar, S.L., Global Cooling Inc. And Others.
This study report represents analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2031.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Ultra-low Temperature (ULT) Freezers market are as follows:
Micro and macro environment factors that are currently influencing the Ultra-low Temperature (ULT) Freezers market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.