Ultra-low Temperature Freezers Market Analysis and Outlook Report 2031

Ultra-low Temperature Freezers Market Outlook 2031

The global ultra-low temperature freezers market was valued at US$ 477.9 Mn in 2021

The global market is projected to grow at a CAGR of 4.5% from 2022 to 2031

The global ultra-low temperature freezers market is anticipated to reach more than US$ 738.6 Mn by the end of 2031

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Ultra-low Temperature Freezers Market Introduction

Ultra-low Temperature (ULT) freezers, also referred to as -80 freezers, are used in the life sciences industry to store biomolecules for protracted periods. They typically provide a temperature range of -40°C to -86°C or -40°F to -123°F in order to prevent heat-induced denaturation of biomolecules such as oligonucleotides and proteins. ULT freezers have two doors to maintain a constant temperature, with the inner door limiting the entry of unwanted heat into the freezer interior. An exterior knob and silicone gasket seal the line around the doors' edges to close them tightly. Additionally, the polyurethane walls of ULT freezers offer robust heat insulation from the outside environment.

Growth in Biobanking Sector Driving Global Ultra-low Temperature Freezers Market Size

Blood banks collect, preserve, and distribute rare and valuable biological samples to public and private sectors for scientific research. Public and private sectors are increasingly investing in development of new therapies in order to help bridge the unmet healthcare needs. The biobanking sector is anticipated to grow significantly in developing regions such as Asia Pacific and Africa due to genetic diversity and biodiversity of these regions. Rise in investment in R&D activities in chronic epidemics is also expected to contribute to the expansion of the biobanking sector in these regions. Majority of biobanks are public; however, the number of private biobanks is increasing due to the rise in demand for preservation of cord blood stem cells, gamete cells such as sperms and eggs, and other tissues.

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Rise in Awareness About Organ Donation and Increase in Demand for Donor Organs

Increase in cases of organ failure in patients suffering from chronic diseases has led to a rise in demand for organ donation. According to the Health Resources and Services Administration, 105,924 men, women, and children are on the national transplant waiting list, and 17 people die each day while waiting for an organ transplant. According to the U.S. Department of Health and Human Services, approximately 122,913 patients in the U.S. were waiting for organ transplants in 2019.

Donated organs must be stored and preserved at extremely low temperatures. This is expected to boost the demand for ultra-low temperature freezers. Rise in accident and trauma cases is also likely to augment the demand for organ transplantation. Scarcity of donated organs combined with increase in number of people on the waiting list is driving the need for advanced organ preservation techniques and government funding for research in cryopreservation of certain organs.

R&D of Advanced ULT Freezers to Offer Lucrative Opportunities to Market Players

Internet-of-Things (IoT), remote monitoring, barcode tracking, and other technologies are increasingly being integrated into laboratory devices. Manufacturers are developing integrated ULT freezers. Lack of skilled labor, rise in demand for safe handling of samples, and increase in laboratory workload are driving the development of fully automated freezers. Industry players are collaborating for the R&D of advanced ULT freezers. In 2016, Helmer Scientific collaborated with Terso Solution to offer RFID-enabled ULT freezers. Similarly, key players have introduced several device networking solutions for ULT freezers. In July 2021, Eppendorf launched the redesigned 400 L ULT freezer class. The ULT freezer is completely equipped with green cooling liquids and green insulation foam. The series can be connected to VisioNize Lab Suite for monitoring via VisioNize box.

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Ease of Accessibility to Stored Samples Augmenting Upright Freezers Segment

In terms of product, the global ultra-low temperature freezers market has been classified into upright freezers and chest freezers. The upright freezers segment is projected to grow at a rapid pace during the forecast period. Upright ULT freezers offer a larger storage capacity compared to chest ULT freezers. Upright freezers store biological drugs, enzymes, chemicals, viruses, bacteria, cell preparations, and tissue samples at temperatures ranging from -40°C to -86°C. Adoption of upright ULT freezers leads to a lower carbon footprint than that of chest freezers. Upright ULT freezers offer ease of access to stored samples due to adjustable shelf placement. They are preferred for storing regularly used samples. Around 85% to 90% of ULT freezers available in the market are of upright design.

Rise in Adoption of 41°C to -86°C Freezers to Store Biological Samples and Tissues

Based on degree of cooling, the global ultra-low temperature freezers market has been bifurcated into -41°C to -86°C freezers and -87°C to -150°C freezers. The -41°C to -86°C freezers segment held prominent share of the global market in 2021. Most of the laboratory samples, such as biological samples, tissues, blood & blood products, plant tissues, proteins, and DNA, are kept in -41°C to -86°C freezers for long-term storage.

Increase in Investment in Advanced Therapeutics to Fuel Drug Compounds Segment

In terms of application, the global ultra-low temperature freezers market has been segmented into blood & blood products, biological samples, flammable materials, drug compounds, and others. The drug compounds segment is expected to grow at a high CAGR during the forecast period. Rise in investment in R&D of advanced therapeutics, including biologicals, peptides, and molecular entities, is projected to drive the drug compounds segment during the forecast period.

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Significant Investment in R&D Activities by Pharmaceutical & Biotechnology Companies

Based on end-user, the global ultra-low temperature freezers market has been classified into biobanks, pharmaceutical & biotechnology companies, academic research institutes, and others. The pharmaceutical & biotechnology companies segment recorded the fastest growth in the global market in 2021. Pharmaceutical & biotechnology companies use ultra-low temperature freezers to store biological samples and drug compounds. These companies are significantly investing in R&D activities to enhance their revenue streams. This is anticipated to boost the demand for ultra-low temperature freezers.

Regional Outlook of Global Ultra-low Temperature Freezers Market

North America accounted for major share of around 40.0% of the global ultra-low temperature freezers market in 2021. Rise in adoption of advanced ultra-low temperature freezers and increase in launch of new products are fueling the market in the region. In May 2020, Thermo Fisher Scientific, a biotechnology company headquartered in the U.S., introduced a new service that gathers and monitors critical performance information from the connected TSX Series ULT freezers to guarantee the security of samples and goods. The user can thoroughly inspect the connected TSX Series ULT freezers due to Thermo Scientific's intelligent connected systems function, which keeps track of 37 different types of alarms and 26 operational metrics.

Increase in R&D of COVID-19 vaccines is also anticipated to propel the market in North America during the forecast period. Scientists are relying on BINDER CO2 freezers and incubators for the development of vaccines. These freezers can reach -80°C and thus are used to store coronavirus samples over the long term.

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Asia Pacific has a large and diverse population with high unmet needs in medical and life sciences sectors. Increase in purchasing power in emerging markets such as China, India, and South East Asia is encouraging international pharmaceutical & biotechnology and biobanking companies to establish their operations in the region. Rise in need for skilled workforce and increase in public and private funding are leading to an increase in number of academic institutes, thus propelling the market in Asia Pacific.

Analysis of Key Players in Global Ultra-low Temperature Freezers Market

The global ultra-low temperature freezers market is consolidated, with the presence of a small number of leading players. Most of the companies are investing significantly in R&D activities, primarily to introduce advanced ultra-cold freezers. Strategic alliances among key players to increase revenue and share are augmenting the global market. Furthermore, diversification of product portfolios and mergers & acquisitions are key strategies adopted by leading players. Thermo Fisher Scientific, Inc., Eppendorf AG, PHC Holdings Corporation (Panasonic Healthcare), Azbil Telstar, S.L., Arctiko A/S, Labcold Ltd., Bionics Scientific Technologies (P) Ltd., Haier Biomedical, Global Cooling Inc., and Helmer Scientific are prominent players operating in the global ultra-low temperature freezers market.

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Market players are designing ultra-low freezers to store COVID-19 vaccinations. In January 2021, Telstar designed Boreas ultra-low-temperature freezers to store COVID-19 vaccinations at -86°C. Vacuum panels provide excellent insulation, allowing the freezer to maintain a temperature of -80°C in surroundings that record temperatures as high as 28°C.

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