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. MRFR has segmented its analysis into three key dynamics for the convenience of understanding – By Types, By End-users and By Regions.
Ultra-Low Temperature Freezer is designed to deal with the contamination, an everyday challenge various cell culture lab confronts. Contamination, undetected or ignored endangers the reliability and reproducibility of experimental data. Hence, each lab relies on ULT freezers as the best measures to prevent microbial contamination.
Technological advancements that took place in the smart and connected devices and the proliferation of some ubiquitous technologies such as the Artificial Intelligence (AI) and Internet of Things (IoT) in these freezers foster the market growth.
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Additional factors such as substantial investments put in the R&D activities to suffice the augmenting demand for break-through drug discovery and treatments to respond to the growing prevalence of chronic disease and transplants are fueling the market growth to an extent.
Furthermore, factors propelling the market growth include the improving economic conditions worldwide that enable access to the quality, and improved health care fosters the market growth. Advancements in surgeries, fuel the market growth
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.
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.
Global Ultra-Low Temperature Freezer Market – Regional Analysis
Globally, the North American region is dominating the global ultra-low temperature freezer market. Factors substantiating the market growth include increasing R&D activities and research projects, extensive uptake of these advanced freezers, increasing governmental support for R&D activities and high health care expenditures. The ultra-low temperature freezer market in North America is expected to reach USD 393.9 Mn by 2022.
Europe region is another lucrative market for ultra-low temperature freezers. The market is heading with the increasing emphasis on the development of advent freezing equipment, rising government support for R&D activities with the increased funding. Besides, the rising numbers of specialty services offered by various healthcare providers provide impetus to the market growth in the region. Thus, the market in Europe is expected to grow at a CAGR of 2.8% from 2016-2022.
Industry Updates:
July 18, 2018 – PHC Holdings Corporation (Japan) is a global healthcare company launched the -85 °C ultra-low temperature freezer VIP ECO Series. Designed for energy savings and the low environmental impact these environment-friendly ultra-low temperature freezers are reliable and provide efficient, long-term preservation to protect high-value samples and specimens for drug development and life science studies.
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 – 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.
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