Ultra-low Temperature Freezers market will see an impressive year on year growth from 2018 to 2023Market - Forecasts from 2018 to 2023” covers an in-depth analysis of the market on the basis of type, end users and geography. The report also covers the country level analysis within the regions as well. Additionally, the report covers the key trends in the market along with drivers and restraint during the forecast period 2018-2023. The report has segmented the Ultra-low Temperature Freezers market by type (upright ultra-low temperature freezers, chest ultra-low temperature freezers), by end user (bio-banks, hospital, pharmaceuticals and biotechnology companies, academic & research institute) and geography (North America, South America, Europe, Middle East, Africa, Asia Pacific). Ultra-low temperature freezers are used to preserve viruses, chemicals, enzymes, bacteria and tissue samples among others. Increase in investment in biomedical and life science industries to accelerate drug development activities along with the rising prevalence of chronic diseases works as the driving factor for the growth of the market. Moreover, the rise in demand for preservation of rare biological samples for research and development and an increase in demand for blood bank storage also fuels up the growth of the ultra-low temperature freezers market.
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By end users, Pharmaceuticals and Biotechnology companies segment is showing an impressive year-on-year increase, and this trend is expected to continue over our forecast period.
By end user, Pharmaceuticals and Biotechnology segment is estimated to account significant market share and is expected to grow rapidly during the forecast period on account of increasing research and development activities by pharmaceutical companies. In addition, an increasing number of pharmaceuticals and biotechnology companies in developing economies like China, India, and Brazil is further expected to drive the growth of the market during the forecast period.
North America region is expected to account for a significant share in the market.
North America Ultra-low Temperature Freezers market is estimated to have a significant share in terms of both value and volume in the global market and the region is further anticipated to grow during the forecast period on account of early adoption of technology and a large number of biobanks and research institute in the region. Furthermore, the high adoption of technological advanced ultra-low temperature freezers and stringent regulation for the use of a traditional freezer is further expected to drive the growth opportunities in the coming years.
Some of the major industry players profiled as part of the report are Panasonic Healthcare Corporation, Azbil Telstar S.L, Eppendorf AG, Helmer Scientific, Haier Biomedical and Thermo Fisher Scientific among others.
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