Global Ultra-Low Temperature Freezers Market Expanding at an 8.05% CAGR, Total Revenue is Anticipated to Reach USD 2,952.8 Million by 2030 | IGR

Infinium Global Research, a leading provider of market research reports, is pleased to announce the release of a comprehensive report on the Global Ultra-Low Temperature Freezers Market. This recently published report offers an in-depth analysis of the market, covering various segments and sub-segments at both the global and regional levels. The study provides valuable insights into the influential drivers, restraints, and macro indicators affecting the global and regional ultra-low temperature freezers market, both in the short term and long term. Moreover, the report presents an extensive analysis of trends, forecasts, and dollar values of the global ultra-low temperature freezers market.

To Know More Request a Sample of this Report: https://www.infiniumglobalresearch.com/reports/sample-request/2029

The global ultra-low temperature freezers market is expected to experience substantial growth, with an anticipated Compound Annual Growth Rate (CAGR) of 8.05% between 2023 and 2030 in terms of value. In 2022, the market was valued at USD 1,604.5 million, and by 2030, it is projected to reach USD 2,952.8 million. Ultra-low temperature freezers, also known as ULT freezers, play a critical role in maintaining low temperatures necessary for preserving valuable biological specimens and samples. These freezers find significant application in the field of biotechnology, where they are essential for preserving drugs, vaccines, tissues, and other temperature-sensitive materials.

The remarkable growth of the ULT freezers market is primarily attributed to the increasing research activities in the field of biotechnology. Major biotechnology companies are engaged in extensive research and development activities to create innovative products in various sectors. The expenditures on biotechnology research and development in the business sector, according to the Organization for Economic Co-operation and Development (OECD), reached nearly USD 70 trillion in 2017, marking a substantial 28% increase compared to the previous year's expenditure of over USD 54 trillion. This robust investment in R&D activities is bolstering the demand for ULT freezers.

Moreover, the rising number of preclinical and clinical trials of novel drugs is contributing to the growing demand for ULT freezers. Clinical trials are essential for evaluating the safety and efficacy of new drug candidates before they are approved for human use. According to ClinicalTrials.gov, the total number of studies posted on the registry nearly tripled from 2009 to 2019. As of 2019, more than 325,000 studies were posted on the registry, and this number is expected to surpass 355,000 by the end of 2020. Laboratory equipment such as ULT freezers is crucial for maintaining the stability and integrity of drugs and specimens during preclinical and clinical trials.

Furthermore, modern ULT freezers offer a range of benefits, including energy efficiency, low sound emission, precise temperature control, sustainability, and customized cooling solutions. These advantages are driving the market's growth. However, the high initial cost and ongoing operational expenses are potential challenges to market expansion. The average cost of ULT freezers typically ranges from USD 6,000 to USD 7,000, and the actual cost of owning one extends beyond the product purchase price. The total cost of ownership includes expenses related to energy and utilities, facilities infrastructure, heating, ventilation, and air conditioning (HVAC), floor space allocation, and maintenance and repair. These additional costs can pose a financial burden to smaller and medium-sized laboratories.

Nonetheless, the trend of using refurbished equipment is creating new opportunities for major vendors in the ULT freezers market. Various manufacturers, including Thermo Scientific, General Electric, Fisher Isotemp, Eppendorf, and more, offer refurbished ULT freezers at competitive prices. Refurbished units not only provide cost savings of up to 60% compared to new models but also offer similar performance, making them an attractive option for end users.

In terms of regional dominance, North America leads the global ultra-low temperature freezers market, driven by the presence of a large number of healthcare providers and a growing demand for storage and repository solutions. The United States, in particular, held the largest market share in 2019 due to its well-established healthcare infrastructure, increasing R&D activities, and adoption of advanced technologies. Developed countries like the US and Canada have robust reimbursement policies in place, and their aging population is driving the demand for laboratory diagnostic procedures, contributing to the growth of the ULT freezers market.

In contrast, the Asia-Pacific region is poised for the fastest growth in the ULT freezers market, with a projected CAGR during the forecast period. This growth is driven by increased investments in healthcare infrastructure and technology advancements in emerging markets such as China, India, and ASEAN countries. Additionally, the region's growing geriatric population and rising concerns about chronic diseases are boosting healthcare checkup activities and government investments, further driving the demand for ULT freezers.

The leading players in the global ultra-low temperature freezers market include Eppendorf AG, Thermo Fisher Scientific, Arctiko, Bionics Scientific Technologies Pvt. Ltd., Lec Medical, LABCOLD, REMI GROUP, VWR INTERNATIONAL, BINDER GmbH, and Helmer Scientific.

Enquire Here Get Customization & Check the Discount for the Report @ https://www.infiniumglobalresearch.com/reports/customization/2029

Table of Content

Chapter 1. Preface

1.1. Report Description

1.2. Research Methods

1.3. Research Approaches

Chapter 2. Executive Summary

2.1. Ultra-low Temperature Freezers Market Highlights

2.2. Ultra-low Temperature Freezers Market Projection

2.3. Ultra-low Temperature Freezers Market Regional Highlights

Chapter 3. Global Ultra-low Temperature Freezers Market Overview

3.1. Introduction

3.2. Market Dynamics

3.2.1. Drivers

3.2.2. Restraints

3.2.3. Opportunities

3.3. Porter's Five Forces Analysis

3.4. IGR-Growth Matrix Analysis

3.4.1. IGR-Growth Matrix Analysis by Product Type

3.4.2. IGR-Growth Matrix Analysis by Cooling Temperature Range

3.4.3. IGR-Growth Matrix Analysis by Defrosting Type

3.4.4. IGR-Growth Matrix Analysis by End Users

3.4.5. IGR-Growth Matrix Analysis by Application

3.4.6. IGR-Growth Matrix Analysis by Region

3.5. Value Chain Analysis of Ultra-low Temperature Freezers Market

Chapter 4. Ultra-low Temperature Freezers Market Macro Indicator Analysis

Chapter 5. Global Ultra-low Temperature Freezers Market by Product Type

5.1. Upright ULT Freezers

5.2. Chest ULT Freezers

Chapter 6. Global Ultra-low Temperature Freezers Market by Cooling Temperature Range

6.1. -40 to -60 Degree

6.2. -61 to -86 Degree

6.3. Greater than -86 Degree

Chapter 7. Global Ultra-low Temperature Freezers Market by Defrosting Type

7.1. Automatic

7.2. Manual

Chapter 8. Global Ultra-low Temperature Freezers Market by End Users

8.1. Research Universities

8.2. Medical Centers and Hospitals

8.3. Blood Banks

8.4. Forensic Labs For Long-term Evidence Storage

Chapter 9. Global Ultra-low Temperature Freezers Market by Application

9.1. Blood & Blood Products

9.2. Biological Samples

9.3. Flammable Materials

9.4. Drug Compounds

9.5. Others

Chapter 10. Global Ultra-low Temperature Freezers Market by Region 2023-2030

10.1.North America

10.1.1. North America Ultra-low Temperature Freezers Market by Product Type

10.1.2. North America Ultra-low Temperature Freezers Market by Cooling Temperature Range

10.1.3. North America Ultra-low Temperature Freezers Market by Defrosting Type

10.1.4. North America Ultra-low Temperature Freezers Market by End Users

10.1.5. North America Ultra-low Temperature Freezers Market by Application

10.1.6. North America Ultra-low Temperature Freezers Market by Country

10.2.Europe

10.2.1. Europe Ultra-low Temperature Freezers Market by Product Type

10.2.2. Europe Ultra-low Temperature Freezers Market by Cooling Temperature Range

10.2.3. Europe Ultra-low Temperature Freezers Market by Defrosting Type

10.2.4. Europe Ultra-low Temperature Freezers Market by End Users

10.2.5. Europe Ultra-low Temperature Freezers Market by Application

10.2.6. Europe Ultra-low Temperature Freezers Market by Country

10.3.Asia-Pacific

10.3.1. Asia-Pacific Ultra-low Temperature Freezers Market by Product Type

10.3.2. Asia-Pacific Ultra-low Temperature Freezers Market by Cooling Temperature Range

10.3.3. Asia-Pacific Ultra-low Temperature Freezers Market by Defrosting Type

10.3.4. Asia-Pacific Ultra-low Temperature Freezers Market by End Users

10.3.5. Asia-Pacific Ultra-low Temperature Freezers Market by Application

10.3.6. Asia-Pacific Ultra-low Temperature Freezers Market by Country

10.4.RoW

10.4.1. RoW Ultra-low Temperature Freezers Market by Product Type

10.4.2. RoW Ultra-low Temperature Freezers Market by Cooling Temperature Range

10.4.3. RoW Ultra-low Temperature Freezers Market by Defrosting Type

10.4.4. RoW Ultra-low Temperature Freezers Market by End Users

10.4.5. RoW Ultra-low Temperature Freezers Market by Application

10.4.6. RoW Ultra-low Temperature Freezers Market by Sub-region

Chapter 11. Company Profiles and Competitive Landscape

11.1.Competitive Landscape in the Global Ultra-low Temperature Freezers Market

11.2.Companies Profiles

11.2.1. Eppendorf AG

11.2.2. Thermo Fisher Scientific

11.2.3. Arctiko

11.2.4. Bionics Scientific Technologies Pvt. Ltd

11.2.5. Lec Medical

11.2.6. LABCOLD

11.2.7. REMI GROUP

11.2.8. VWR INTERNATIONAL

11.2.9. BINDER GmbH

11.2.10. Helmer Scientific.

Chapter 12. Appendix

12.1.Primary Research Findings and Questionnaire More Insights on this report, Speak to Our Analyst: https://www.infiniumglobalresearch.com/reports/enquiry/2029

Reasons to Buy this Report:

=> Comprehensive analysis of global as well as regional markets of ultra-low temperature freezers.

=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.

=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.

2nd Floor, Ganadish Empire, Rahatani Chowk, Pimple Saudagar, Pimpri-Chinchwad, Maharashtra 411027

About Infinium Global Research:

Infinium Global Research is a business consulting and market research firm; a group of experts that caters to fulfilling business and market research needs of leading companies in various industry verticals and business segments. The company also serves government bodies, institutes, and non-profit/non-government organizations to meet their knowledge and information needs.
Through our information services and solutions, we assist our clients to improve their performance and assess the market conditions to achieve their organizational goals. Our team of experts and analysts are engaged in continuously monitoring and assessing the market conditions to provide knowledge support to our clients. To help our clients and to stay updated with the advances and inventions in technology, business processes, regulations, and the environment, Infinium often conducts regular meets with industry experts and opinion leaders. Our key opinion leaders are involved in monitoring and assessing the progress in the business environment, so as to offer the best opinion to our clients.

This release was published on openPR.