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Ultra-Low Temperature Freezers Market Demand, Growth Challenges, Industry Analysis and Forecasts to 2027| BINDER GmbH, Esco Micro Pte Ltd., LABCOLD, Thermo Fisher Scientific, PHC Corporation

01-20-2022 12:46 PM CET | Health & Medicine

Press release from: Market Research Future - MRFR

Ultra-Low Temperature Freezers Market

Ultra-Low Temperature Freezers Market

The necessity to store temperature-sensitive biological product storage, especially in the ongoing pandemic, is estimated to shape the ultra-low temperature freezers market. The medical device reports are made by Market Research Future, which includes market options for expansion. A CAGR of 5.67% is predicted to steer the market income to USD 2,104.66 Million by 2027.

The amplified use of R&D facilities in the search for vaccine and drug options in the COVID -19 pandemic is currently predicted to augment the ultra-low temperature freezers market share in the course of the forecast period. The influence of integrating innovative technologies in advance of cost-efficient and superior products is likely to boost the ultra-low temperature freezers market.

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Key Players

The principal companies in the ultra-low temperature freezers market are BINDER GmbH (Germany), Esco Micro Pte Ltd. (US), LABCOLD (UK), Thermo Fisher Scientific (US), PHC Corporation (US), Arctiko (UK), Stirling Ultracold, Global Cooling Inc. (US), Helmer Scientific (US), Eppendorf AG (Germany), and VWR International, LLC (US).

Segmental Analysis

Ultra-Low temperature freezers industry has been categorized on the basis of type, degree of cooling, application, and end user.

The key types considered in the report are upright as well as chest. The upright type is the top segment in the market, because of the provision of bigger capacity, and easy to use, and more adjustable interior properties. These are also more user-friendly compared to chest ultra-low temperature freezers.

Depending on degree of cooling, the market can cater to -41°C to -86° C freezers and -87°C to -150° C. Out of these, -41°C to -86° C degree of cooling remains in the lead, given the rising technological innovations in these freezer types. The -41°C to -86°C temperature freezers provide long-term storage and are safe for pharmaceutical samples and products.

Applications of ultra-low temperature freezers are drug compounds, biological samples, blood & blood products, and others. The blood & blood products category is at the top, as a result of the increasing product demand in biobanks for blood products’ storage for research purposes.

The top end-users in the ultra-low temperature freezers industry are hospitals & clinics, academic & research laboratories, bio-banks, and more. Bio-banks lead the market, due to the surge in the number of researches that require storage of bulk biological products.

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Regional Analysis

Ultra low temperature freezer market share has been studied with respect to certain regions, namely the Americas, Europe, Asia-Pacific, and the Middle East & Africa.

The America market has been the most lucrative since 2019, thanks to the existence of high quality healthcare services along with the heightened demand for samples that require cold storage. The US market is currently in the lead, mostly due to the presence of a large number of established vendors, thriving healthcare infrastructure and the significant number of R&D activities. The fast adoption of modern technologies and technically innovative laboratory devices also enhances the market share in the region.

Ultra low temperature freezer market growth rate is the highest in APAC, on account of the increasing spending on technological innovations in healthcare and the availability of cheap labor and manufacturing costs. The burgeoning pool of research organizations, subsequent increase in R&D activities as well as scientific researches and the mounting number of pharmaceutical & biotechnology vendors and biobanks also work in favor of the APAC market. Biodiversity paired with growth in unmet needs with respect to disease therapeutics can most likely boost the expansion of the pharmaceutical and biobanks industries, which can mean favorable outcomes for the ultra-low temperature freezers market in the ensuing years.
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About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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