Ultra-low temperature (ULT) freezers are predominantly utilized to maintain products at extremely low temperatures, serving as vital tools for preserving valuable drug compounds, biological samples, and specimens. These freezers have become standard equipment in research and development as well as medical sectors, enabling efficient storage of drugs, blood samples, body organs, and other essential materials. As a consequence, there is a rising demand for reliable and advanced storage devices, driving the widespread acceptance and usage of ULT freezers.
According to SPER market research, ‘Ultra-Low Temperature Freezers Market Size- By Type, By Capacity, By Application, By Technology, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Ultra-Low Temperature Freezers Market is predicted to reach USD 1.05 billion by 2033 with a CAGR of 5.02%.
The biomedical industry has witnessed significant growth in the ultra-low temperature freezers market since the onset of the pandemic, prompting companies to invest heavily in research and development. ULT freezers play a crucial role in storing a wide range of items, including plasma, blood samples, vaccines, medications, and more, required for life science research and other projects funded by the government. With expanding government support for advanced research in emerging nations and increasing investments in research and healthcare facilities to address the threat of biowarfare, the demand for ULT freezers is expected to rise substantially.
However, the global ultra-low temperature freezers market faces challenges that can hinder the growth and development of the market. The market growth for ULT freezers is expected to be hindered by the significant capital investment needed to set up manufacturing facilities. Many ULT freezer companies are anticipated to invest heavily in advanced machinery for automated production, resulting in higher product prices. Moreover, the regular maintenance required for the efficient and secure operation of these devices imposes a considerable cost burden on end-use organizations.
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The COVID-19 pandemic significantly impacted the market's growth as the storage and distribution of large quantities of vaccines, requiring ultra-low temperature freezers, became essential. The short-term effects were mainly seen in disruptions to the supply chain and production challenges caused by reduced demand and transportation of raw materials. However, over a more extended period, COVID-19 is expected to have a predominantly positive impact on businesses, driven by the expansion of biobanks and plasma therapies. In the long run, as the industrial sector returns to normalcy, a steady demand for ULT freezers is anticipated.
Geographically, North America is expected to emerge as a dominant market with a significant market share and steady growth in the projected period, primarily due to the presence of several market leaders in the region. Moreover, new and local companies are also likely to invest considerably in the ultra-low temperature freezers sector, leading to the acquisition of expensive freezing equipment to meet the increasing demand for preserving various products. Additionally, some of the market key players are Arctiko, Esco Micro Pte Ltd, Helmer Scientific, Labcold, PHC Corporation, Stirling Ultracold, VWR International, LLC, Others.
Ultra-Low Temperature Freezers Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Type: Based on the Type, Global Ultra-Low Temperature Freezers Market is segmented as; Chest ULT freezers, Upright ULT freezers, Others.
By Capacity: Based on the Capacity, Global Ultra-Low Temperature Freezers Market is segmented as; Less than 300 Liters, 301-500 Liters, 501-700 Liters, 701-900 Liters, More than 900 Liters.
By Application: Based on the Application, Global Ultra-Low Temperature Freezers Market is segmented as; Blood and Blood Products, Forensic and Genomic Research, Organs, Pharmaceuticals, Others.
By Technology: Based on the Technology, Global Ultra-Low Temperature Freezers Market is segmented as; Automated, Semi-Automated.
By End User: Based on the End User, Global Ultra-Low Temperature Freezers Market is segmented as; Academic and Research Laboratories, Bio-Banks, Pharmaceutical and Biotechnology Companies, Others.
By Region: This research also includes data for Asia-Pacific, Europe, the Middle East and Africa, North America, and Latin America.
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Transparency Market Research (TMR) has published a new report titled, ‘Ultra-low Temperature Freezers Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’ According to the report, the global ultra-low temperature freezers market was valued at US$ 500.0 Mn in 2017 and is projected to reach US$ 800.0 Mn by 2026 at a CAGR of 5.5% from 2018 to 2026.
This is leading to adoption of advanced and safe storage devices such as ULT freezers.Request Brochure –https://www.transparencymarketresearch.com/sample/sample.php?flag=B_id=47625There are high unmet needs in rare and chronic disease therapeutics and intense competition among pharmaceutical and biotechnology companies to introduce new and advanced therapeutics to remain competitive in the market.
These factors have led to significant investment in R activities which in turn is increasing the number of drug compounds and biological samples to be preserved for long term.
Key players are tapping opportunities to introduce more advanced ULT freezers with features such as RFID enabled sample tracking solutions, device networking with other laboratory equipment, remote monitoring, and fully automated ULT freezers.
Floorstanding upright ULT freezers accounted for high share of the global market in 2017 and the trend is projected to continue during the forecast period.
This is likely to drive adoption of ULT freezers among pharmaceutical & biotechnology companies during the forecast period.Request Customization on Ultra-low Temperature Freezers Market Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=CR_id=47625 Asia Pacific Market to Register Exponential Growth and North America to Create High Incremental OpportunityAsia Pacific is expected to present significant opportunities in the ultra-low temperature freezers market due to changing economic profiles, surge in purchasing power, rise in R activities & scientific research, and increase in number of biobanks and pharmaceutical & biotechnology companies.
Ultra-Low Temperature Freezers Global Market Report 2021 by The Business Research Company is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact – both negative and positive – of COVID-19 on the ultra-low temperature freezers industry gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
This includes revised market numbers according to the effects of the coronavirus and the expected ultra-low temperature freezers market growth numbers 2021-2030.
View Complete Report:https://www.thebusinessresearchcompany.com/report/ultra-low-temperature-freezers-global-market-report The Ultra-Low Temperature Freezers Global Market Report 2020-30 by The Business Research Company provides an in-depth analysis of the global ultra-low temperature freezers market and covers both the historic period, 2015 to 2020, and the forecast period, 2020 to 2030.
The report evaluates the market and major economies across the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.The Ultra-Low Temperature Freezers Global Market Report 2021 covers ultra-low temperature freezers market drivers, ultra-low temperature freezers market trends, ultra-low temperature freezers market growth rate, ultra-low temperature freezers market major players, player-adopted strategies in the market, and ultra-low temperature freezers market size.The global ultra-low temperature freezers market is expected to decline from $633.94 million in 2020 to $805.47 million in 2021 at a compound annual growth rate (CAGR) of 27.06%.
The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020.
In our aim to provide our erudite clients with the best research material with absolute in-depth information of the market, our new report on Global Ultra-Low Temperature Freezers Market is confident in meeting their needs and expectations.
The 2018 market research report on Global Ultra-Low Temperature Freezers Market is an in-depth study and analysis of the market by our industry experts with unparalleled domain knowledge.
The report covers a vast expanse of information including an overview, comprehensive analysis, definitions and classifications, applications, and expert opinions, among others.
With the extent of information filled in the report, the presentation and style of the Global Ultra-Low Temperature Freezers Market report is a noteworthy.Request a sample of this report @ http://www.orbisresearch.com/contacts/request-sample/2324523The Global Ultra-Low Temperature Freezers Industry report provides key information about the industry, including invaluable facts and figures, expert opinions, and the latest developments across the globe.
Not only does the report cover a holistic view of the industry from a global standpoint, but it also covers individual regions and their development.
The Global Ultra-Low Temperature Freezers Industry report showcases the latest trends in the global and regional markets on all critical parameters which include technology, supplies, capacity, production, profit, price, and competition.The key players covered in the report provide a detailed analysis of the competition and their developments in the Global Ultra-Low Temperature Freezers Industry.
