16-Jan-2020 | Zion Market Research
Zion Market Research has published a new report titled “Ultra-Low Temperature Freezers Market by Type (Upright Ultra-Low Temperature Freezers, and Chest Ultra-Low Temperature Freezers), by Technology (Semi-Automated Freezers, and Automated Freezers), and by Application (Blood & Blood Products, Organs, Pharmaceuticals, Forensic & Genomic Research, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2019 - 2025”. According to the report, global demand for ultra-low temperature freezers market was valued at approximately USD 603.0 million in 2018, and is expected to generate revenue of USD 798.9 million by end of 2025, growing at a CAGR of 3.6% between 2019 and 2025.
Browse the full “Ultra-Low Temperature Freezers Market: by Type (Upright Ultra-Low Temperature Freezers, and Chest Ultra-Low Temperature Freezers), by Technology (Semi-Automated Freezers, and Automated Freezers), and by Application (Blood & Blood Products, Organs, Pharmaceuticals, Forensic & Genomic Research, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2019 - 2025” Report at https://www.zionmarketresearch.com/report/ultra-low-temperature-freezers-market
Ultra-low temperature freezers (ULTF) are equipments which are designed to operate between -460C to -860C. These are very crucial equipments used in the healthcare sector to preserve drugs, pathogens, biological samples, and others. ULTF have become highly popular in research and development, and medical sectors as these effectively preserve blood samples, drugs, and body organs. Rising cases of infectious diseases and cancer are some of the factors stimulating the market growth.
Rise in demand for value based pharmaceuticals storage from blood banks, hospitals, and research & academic institutes is an important factor that has supported the market growth. Likewise, increasing adoption of personalized medicines, rising investment in life sciences and R&D of orphan drugs are some of the other factors boosting market growth of ultra-low temperature freezers market. Besides, presence of microprocessor control panel along with air filters are some of the additional aspects propelling market growth. Rising awareness about organ donations, and blood donation camps are also significant contributors for market growth of ULT freezers.
The ultra-low temperature freezers market is bifurcated based on application, type, technology, and regions. Based on type the market is segmented into upright, and chest ultra-low temperature freezers. The segment for upright ULTF segment held major share of the market owing to the rising technological advancements and adoption rate that has led to operation management and enhanced accessibility that has driven market growth of this segment. On the basis of technology the market is segmented into automated, and semi-automated freezers. The segment for automated freezers held major share of the market and is likely to showcase high growth rate in the forecast period owing to its use in bio-banks since it considerably cuts down the time required to store and retrieve samples.
On the basis of application the market is bifurcated into blood & blood products, organs, forensic & genomic research, pharmaceuticals, and others. The segment for blood & blood related products held major share of the market owing to the rising applications of ULTF in storage of plasma products, white blood cells, red blood cells, and other blood components which has contributed to this segmental growth.
The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa with its further bifurcation into major countries. The market in North America held major share owing to rising initiatives and investment by public and private organizations in the field of healthcare. Moreover, growing focus of companies in R&D activities and the development of efficient products to reduce energy consumption are also boosting the market growth in this region.
Some of the players in the market include VWR International, Thermo Fisher Scientific, Haier, Stirling Ultracold, Binder, Helmer Scientific, Azbil, Panasonic Healthcare Corporation, Arctiko, and Eppendorf.
This report segments the global ultra-low temperature freezers market as follows:
Global Ultra-Low Temperature Freezers Market: Type Segment Analysis
Global Ultra-Low Temperature Freezers Market: Technology Segment Analysis
Global Ultra-Low Temperature Freezers Market: Application Segment Analysis
Global Ultra-Low Temperature Freezers Market: Regional Segment Analysis
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