Ultra-Low Temperature Freezers (ULT freezers) are the type of bio-freezers that utilized for the preservation of viruses, bacteria, drugs, enzymes, chemicals, cell preparations and tissue samples among others. They generally have a temperature range of – 45C to – 86C. There are majorly two types of ULT freezers; Upright and Chest ULT freezers. The Global Ultra-Low Temperature Freezer Market is expected to reach USD 701.4 million by the end of the forecasted period and is expected to grow at a CAGR of 2.7%.
Global Ultra-Low Temperature Freezer Market – Key Players
Some of the key players in this market are: Panasonic Healthcare Corporation of North America, VWR International, Helmer Scientific, Haier, Eppendrof AG, Thermofisher Scientific Inc. and others.
Global Ultra-Low Temperature Freezer Market – Competitive Analysis
Characterized by the presence of several well-established and small players, the global Market of Ultra-Low Temperature Freezer seems to be highly competitive and fragmented. International players who are increasingly expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of features such as product differentiation, product portfolios, quality, and pricing. The Market is witnessing strengthened competition which is anticipated to be more intensified further during the forecast period. The intense competition predominant in the market dictates the alliance and associations among marketers.
Well established and emerging players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position.
Furthermore many organizations are working for promoting and publicizing improvements in ULT freezers efficiency. International Institute of Sustainable Laboratories hosts an annual conference with major focus on laboratory equipment. For creating the awareness regarding the efficiency of these freezers, Lawrence Berkeley National Laboratory hosts a webpage containing data on energy-efficient laboratory equipment which includes ULTs and the webpage is developed and maintained by Allen Doyle of the University of California at Davis. DOE and the U.S. Environmental Protection Agency (EPA) are working to cover laboratory-grade refrigerators and ULTs under the ENERGY STAR program. Recent efforts have resulted in the development of a standardized rating method for the equipment. Based on the study, ultra-low temperature freezers operated efficiently when they are well maintained, operating in ambient temperatures less than 25°C, are less than ten years old, operating at a set point higher than –80°C, and have an internal capacity greater than 23 feet.
Hence, greater efficiency and other technological advancement of ultra-low temperature freezers is driving the market growth of these products.
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Global Ultra-Low Temperature Freezer Market – Segments
Global Ultra-low temperature freezer market has been segmented on the basis of type which comprises of upright ULT freezers, chest ULT freezers. On the basis of end user; market is segmented into bio-banks, hospital, academic & research institute and others
Global Ultra-Low Temperature Freezer Market – Regional Analysis
Globally North America is the largest market for ultra-low temperature freezer. The North American market for Ultra-low temperature freezer is expected to reach at USD 393.9 Million by the end of the forecasted period.
Europe is the second-largest market for ultra-low temperature freezer which is expected to grow at a CAGR of 2.8%. Asia pacific region is expected to be fastest growing region in Ultra-low temperature freezer market.
Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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