The Ultra-low Temperature Freezers by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Ultra-low Temperature Freezers, The ultra-low temperature freezers market size has grown strongly in recent years. It will grow from $0.87 billion in 2023 to $0.92 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to increasing genomic research and technological innovation, a rise in r&d activities to introduce new drug compounds, increasing investment in life science research and development, increasing government initiatives and a rise in demand for food storage in ultra-low temperature freezers. factor that negatively affected growth in the historic period was high cost of new equipment..
The ultra-low temperature freezers market size is expected to see steady growth in the next few years. It will grow to $1.08 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to increasing demand for blood components specimens, growing government support for research activities and clinical trials and the growing demand for transportation of newly developed covid-19 vaccines. Major trends in the forecast period include focus on innovative products, focus on technology advancement, focus on strategic partnerships, focus on offering ultra-low temperature freezers with connected service features, focus on energy efficient freezers, focus on use of internet of thing (iot) in ultra-low temperature freezers, focus on use of portable ultra-low temperature freezers, focus on v drive technology and focus on mergers and acquisitions..
The COVID-19 outbreak is propelling the growth of the ultra-low temperature freezer market in the coming years. Scientists are trying hard to create a vaccine and depend on ultra-low temperature freezers and incubators to retain novel COVID-19 samples so that they can be recovered whenever appropriate and examined to gain insight into this emerging respiratory illness. For example, the BINDER CO2 freezer is helping researchers and scientists retain COVID-19 samples. These freezers are important because they provide protection and anti-contamination features. Therefore, the COVID-19 outbreak contributed to the growth of the ultra-low temperature freezer market.
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The ultra-low temperature freezers market covered in this report is segmented –
1) By Type: Chest Freezers, Upright Freezers
2) By Application: Blood Components and Specimens, Organs, Pharmaceuticals, Forensic, Genomic Research, Other Applications
3) By End User: Bio-Banks, Pharmaceutical and Biotechnology Companies, Academic And Research Laboratories, Other End-Users
Top Major Players
Thermo Fisher Scientific
Eppendorf AG
PHC Holdings Corporation
Avantor Inc.
Haier Biomedical Co. Ltd.
Innovative Product launches are the key trend gaining popularity in the ultra-low temperature freezers market. To preserve novel coronavirus samples, the major market players are innovating new products so that they can be recovered when needed and evaluated to learn more about this emergent respiratory ailment. Scientists are reliant on ultra-low temperature freezers and incubators. During the pandemic use of ULT freezers became more efficient and lower cost -80oC freezers were primarily used for cold chain handling of RNA vaccines to the point of admin. In February 2021, Godrej Appliances launched new ultra-low temperature freezers for vaccine storage. These advanced medical freezers can preserve life-saving medical supplies including critical vaccines below -80°C and are aimed at boosting both Indian and global medical cold chains.
The ultra-low temperature freezers market report table of contents includes:
1. Executive Summary
2. Ultra-low Temperature Freezers Market Characteristics
3. Ultra-low Temperature Freezers Market Trends And Strategies
4. Ultra-low Temperature Freezers Market – Macro Economic Scenario
5. Global Ultra-low Temperature Freezers Market Size and Growth
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32. Global Ultra-low Temperature Freezers Market Competitive Benchmarking
33. Global Ultra-low Temperature Freezers Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Ultra-low Temperature Freezers Market
35. Ultra-low Temperature Freezers Market Future Outlook and Potential Analysis
36. Appendix
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