The analysis estimates that global ultra-low temperature freezer demand was USD 603.0 million in 2018 and will reach USD 798.9 million by 2025, rising at a CAGR of 3.6%.
Ultra-Low Temperature Freezers Market
According to the report, global demand for ultra-low temperature freezers market was valued at 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
The report covers forecast and analysis for the global ultra-low temperature freezers market. The study provides historic data from 2016 to 2018 along with forecast from 2019 to 2025 based on revenue (USD Million). In-depth secondary research is used to ascertain overall market size, top industry players, top products, industry associations, etc. Macro-economic indicators such as healthcare industry outlook, healthcare spending, research funding, GDP along with company websites, company annual reports, white papers, financial reports and other saws have also been considered to arrive at the indicated market numbers.
Ultra-low temperature freezers are crucial equipments used in healthcare sector to preserve drugs, biological samples, pathogens and others. These equipments are designed to operate between -460C to -860C. ULTF have become highly popular in research & development and medical sectors to effectively preserve body organs, drugs, and blood samples. Growing cases of cancer and infectious diseases are among the projecting factors stimulating the market growth.
The study provides a decisive view on the ultra-low temperature freezers market by segmenting the market based on type, technology, application, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2025. The market for ultra-low temperature freezers is segmented on the basis of type into chest ultra-low temperature freezers, and upright ultra-low temperature freezers. Upright ULTF segment held major share of the market in 2018 due to growing technological advancements and adoption rate which has led to operation management and enhanced accessibility which has driven market growth of this segment. Based on technology type the market is segmented into semi-automated freezers, and automated freezers. The automated freezers segment held major share of the market in 2018 and is likely to grow at high CAGR in the forecast period due to its use in bio-banks which considerably cuts down the time required to retrieve and store samples.
Based on application the market is segmented into blood & blood products, organs, pharmaceuticals, forensic & genomic research, and others. The blood & blood related products segment held major share of the market in 2018 due to rising applications of ULTF in storage of plasma products, red blood cells, white blood cells and other blood components which has contributed to 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. North America held major share of the market due to growing initiatives and investment by private and public organizations in the field of healthcare is driving industry growth in this region. Besides, growing focus of companies in R&D activities in the development of efficient products to reduce energy consumption is also driving market growth in this region.
The study also includes drivers and restraints for the ultra-low temperature freezers along with the impact they have on the demand over the forecast period. Besides, the report includes the study of opportunities and trends available in the ultra-low temperature freezers market on global level. Growing investment in life sciences and R&D of orphan drugs, increasing adoption of personalized medicines are some of the factors boosting the market growth of ultra-low temperature freezers market. Likewise, growing demand of value based pharmaceuticals storage from blood banks, hospitals, and research & academic institutes is also another important which has supported the market growth. Besides, presence of microprocessor control panel along with air filters are some of the additional factors propelling market growth. Moreover, rising awareness about organ donations, and blood donation camps are also significant contributors for market growth of ULT freezers.
The report also provides company market share analysis in order to give a broader view of the key players in the market. Industry insights and information is delivered in the required format. ZMR develops a list of industry players (manufacturers), distributors, retailers and industry experts. Some of the players in the market for ultra-low temperature freezers include Haier, Stirling Ultracold, VWR International, Helmer Scientific, Arctiko, Binder, Azbil, Panasonic Healthcare Corporation, Thermo Fisher Scientific, 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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