Market reports linked to the healthcare sector made available by Market Research Future along with published reports on other sectors have been recently published along with a report on this market. The market for ultra-low temperature freezer is set to increase its market stake at a CAGR of 2.7 percent while raising its value to USD 701.4 million in the forecast period. Rise in the number of diagnostics facilities which are either independent or parts of hospitals and clinics have given rise to the use of ultra-low temperature freezer.
Development in the field of biotechnology and life sciences have been one of key factors which has led to the development of the market. The necessity to have well preserved sample is extremely important both in the context of research and diagnostics, this need is well addressed by the vast portfolio of ultra-low temperature freezers. Better availability of funds has initiated improved demand levels for this industry, which are expected to be sustained through the forecast period.
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Global Ultra-Low Temperature Freezer Market – Key Finding
- The Global Ultra-Low Temperature Freezer Market and is expected to reach USD 701.4 million by 2022.
- Regionally, North America holds the largest market share for global Ultra-low temperature freezer market and is expected to reach USD 393.9 million by 2022.
- Asia-Pacific market is expected to be the fastest growing market and expected to reach at USD 152.5 million by 2022.
- On the basis of type, upright ULT freezers segment holds largest market share.
Global Ultra-Low Temperature Freezer Market – Competitive Analysis
Contenders who are a part of the industry have devised their corporate strategy blueprint in a way that that can bring the best outcomes for development in the current scenario. With the ability to sustain their competitive edge being one of the primary factors driving their efforts, the scope for growth in the industry appears to be promising through the forecast period. The rising affinity for diversification in the market, has indirectly enabled the players to utilize the many prospects available. The companies in this particular industry are also trying to maintain and enhance financial liquidity that can be instrumental to invest in growth strategies as and when they become available. This particular trend has enabled portfolio improvements along with the affinity for diversification in the sector, which has benefitted the market competitors tremendously in this industry.
Some of the key players in this market are:
- Panasonic Healthcare Corporation of North America
- VWR International
- Helmer Scientific
- Eppendrof AG
- Thermofisher Scientific Inc.
Jun 2017 A new Ultra-Low Temperature Freezer, The VIP ECO, had been launched by Panasonic Healthcare Corporation of North America which can achieve temperatures as low as -86°C by employing the use of hydrocarbons propane and ethane. The offering which is being marketed as the VIP ECO freezer, has an upright cabinet. It also provides more energy efficient, dependable, ultra-low temperature storage by the use of smart compressors with hydrocarbons in a cascade refrigeration circuit such as R290 on the high-stage circuit and R170 on the low-stage one. Panasonic is aiming the product at new laboratories as well as the immediate replacement of less-efficient freezers. The VIP ECO’s interior volume of 729 litres has been sized to house many inventory racks which are existing in use in other freezers. In replacement installations, this allows quick transfers with zero downtime.
Global Ultra-Low Temperature Freezer Market – Segments
MRFR has segmented its analysis into three key dynamics for the convenience of understanding;
By Types: Upright ULT Freezers and Chest ULT Freezers among others.
By End-users: Bio-Banks, Hospital, Academic, and Research Institute among others.
By Regions: North America, Europe, APAC and Rest-of-the-World.
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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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