What are driving factors of Ultra-low Temperature Freezers Market | Top players - Arctiko, Azbil, Binder, Eppendorf, ESCO MICRO PTE, EVERmed, Haier, Helmer Scientific, Panasonic Healthcare Corporation of North America, Stirling Ultracold, Thermo Fisher Sc

Ultra-low temperature freezers market to exceed the 210-million-dollar mark by 2024, fueled by extensive product demand from medical laboratories and healthcare facilities.
The field of medical science has indeed witnessed robust expansion lately, providing a significant impetus to ultra-low temperature freezers market trends. Extensive research involving samples that require meticulous storage has led to an upsurge in product demand, spurring ultra-low temperature freezers industry size. Since the last decade, numerous studies are being carried out to solve the mysteries of incurable diseases like cancer and AIDS that have threatened the well-being of the global population. In consequence, collected samples for tests and clinical trials need to be stored in appropriately low temperatures to maintain their original state for extended periods. This requirement thus, ultimately has helped reshape the dynamics of ultra-low temperature freezers industry. Exponential improvement in testing technologies has also triggered widespread pursuit of genomic research in order to resolve unknown queries related to the human DNA and genetics, further stimulating ultra-low temperature freezers market share.

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Massive exploration in the medical field is rapidly phasing out chlorofluorocarbons that have been damaging the earth’s stratospheric layer. In consequence, firms partaking in the ultra-low temperature freezers market share have come up with specially designed products for sophisticated testing and are equipped with CFC free cooling compressors. Thus, this business sphere is also contributing to lowering atmospheric pollution in spite of the fact that the power consumption of ultra-low temperature freezers is rather high. The cooling compressors on ultra-low temperature freezers are designed with washable condense filters and aerodynamic fans that help in keeping out dirt and dust. This has enabled greater preference for these products in critical medical situations, boosting ultra-low temperature freezers market share.

Maintaining low temperatures is rather important for the storage of chemicals, blood, tissue culture and other clinical trial samples that are required for various industrial and medical purposes. As these freezers maintain temperatures lower than -60°C, in addition to maintaining variable low temperatures whenever required, ultra-low temperature freezers industry has witnessed tremendous expansion in recent times. Thus, these products not only help in halting the chemical processes that would naturally occur in organic samples causing degradation, but also facilitate the usage of products even after they have been left in the freezer for as long as 25 years, providing further impetus to ultra-low temperature freezers market size.

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In 2016, blood and blood products accounted for the largest share in ultra-low temperature freezers industry. This growth can be primarily credited to the rising awareness regarding blood donation and requirement of blood storage in ultra-low temperatures.

The year 2012 brought in a change of dynamics in ultra-low temperature freezers market, when Hurricane Sandy badly affected the East Coast. Apparently, numerous research professionals had then packed research samples on dry ice for safe keeping. Considering the paramount importance these samples hold, it is undeniable that ultra-low temperature freezers industry size would be majorly stimulated by the indispensability this product has acquired in medical laboratories, hospitals and pharmacies.

The rapid growth of ultra-low temperature freezers industry can also be credited to major technological developments such as the integration of diagnostic systems in freezers that warn users when the freezer is not operating optimally. Another advancement contributing toward impelling the popularity matrix of this business space is the launch of freezers that use two separate compressors functioning independently, continuing to maintain constant temperature even if one of them fails completely. Players partaking in ultra-low temperature freezers market are also looking forward to enhancing energy consumption by developing freezers that consume 15% less energy. In spite of the high price of these products, increasing investments through both public and private sectors toward drug discovery and development are certain to stimulate ultra-low temperature freezers market outlook over 2017-2024.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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