USD 0.48 billion
Ultra-Low Temperature Freezers Market Size, Share, Growth Analysis, By Product(Upright ULT Freezers and Chest ULT Freezers), By End-user(Bio-Banks, Pharmaceutical and Biotechnology Companies, Academic and Research Laboratories, and Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20E2068 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
62
|Figures:
75
Ultra-Low Temperature Freezers Market Insights
Ultra-Low Temperature Freezers Market size was valued at USD 0.48 billion in 2021 and is poised to grow from USD 0.5 billion in 2022 to USD 0.69 billion by 2030, at a CAGR of 4.20 % during the forecast period (2023-2030).
The pandemic has had a significant impact on the growth of the ultra-low temperature freezer market. These freezers played a crucial role in the storage and distribution of COVID-19 vaccines that required ultra-cold conditions.
Guidelines from regulatory bodies, such as the FDA, specified the need to store vaccines like the Pfizer-BioNTech mRNA COVID-19 vaccine in ultra-low temperature freezers at temperatures ranging from -80°C to -60°C.
This led to a surge in demand for ultra-low temperature freezers during the initial phase of the pandemic.
The market growth is driven by factors such as their increasing applications in bio-banks, drug discovery, and life sciences research.
The use of ultra-low temperature freezers in bio-banks, like the Integrated Biorepository of H3Africa Uganda, has significantly contributed to the market's growth.
US Ultra-Low Temperature Freezers Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Upright ULT Freezers
Fastest Growth
Growth Rate
4.20% CAGR
Global Ultra-low Temperature Freezers Market ($ Bn)
Country Share for North America Region (%)
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Ultra-Low Temperature Freezers Market Segmental Analysis
The global ultra-low temperature freezers market is segmented into product type, end user, and region. The ultra-low temperature freezers market is segmented by product type based on upright ULT freezers and chest ULT freezers. Based on end user, the market is segmented into bio-banks, pharmaceutical and biotechnology companies, academic and research laboratories, and others. Geographically, the market is based on North America, Europe, Asia-Pacific, Middle East and Africa, and South America.
Ultra-Low Temperature Freezers Market Analysis By Product
The largest segment in terms of market share is upright ULT Freezers. With their advanced features and precise temperature control, upright ULT freezers are highly sought after in research laboratories, biobanks, and pharmaceutical facilities. Their versatility and efficient storage capabilities make them a popular choice among end-users, driving the significant market share they hold.
The fastest-growing segment in the market is chest ULT freezers. The chest ULT freezers segment is witnessing rapid growth due to their energy-efficient performance, reliable temperature stability, and the ability to store a large volume of samples. Their increasing adoption in various applications, such as long-term specimen storage and biological sample preservation, has contributed to their accelerated market growth.
Ultra-Low Temperature Freezers Market Analysis By End-User
The largest segment in terms of market share is bio-banks. These facilities require reliable ultra-low temperature freezers to maintain the integrity and viability of valuable specimens, such as DNA, tissues, and cells. The increasing emphasis on precision medicine and personalized healthcare has fueled the growth of Bio-Banks, driving the demand for ultra-low temperature freezers. With their stringent temperature control, advanced security features, and large storage capacity, these freezers cater to the unique requirements of Bio-Banks, making them the largest segment in the market.
The fastest-growing segment in the market is pharmaceutical and biotechnology companies. These companies are at the forefront of drug discovery, development, and production. The need for ultra-low temperature freezers in these organizations arises from their focus on storing temperature-sensitive drugs, vaccines, and biological materials. As the pharmaceutical and biotechnology industries continue to advance and expand globally, the demand for reliable storage solutions to maintain product efficacy and comply with regulatory standards is driving the growth of this segment.
Global Ultra-low Temperature Freezers Market By Product type
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Ultra-Low Temperature Freezers Market Regional Insights
Among these, North America stands out as the largest and fastest-growing region in the market, offering an enticing landscape for industry players. North America boasts a robust healthcare infrastructure, cutting-edge research facilities, and a strong emphasis on technological advancements. The region's prominent pharmaceutical and biotechnology industries contribute to the demand for ultra-low temperature freezers, particularly for the storage of valuable biological samples and specimens. Moreover, the region's significant investments in research and development, coupled with the presence of leading academic institutions and renowned medical centers, foster an environment of innovation and scientific exploration.
Furthermore, North America's stringent regulatory framework ensures adherence to quality standards, providing a reliable market for ultra-low temperature freezer manufacturers. The region's focus on precision medicine, genetic research, and personalized healthcare further fuels the demand for advanced storage solutions. With its flourishing healthcare sector, cutting-edge research capabilities, and a thriving market ecosystem, North America emerges as the most attractive and lucrative region in the ultra-low temperature freezers market. The region's rapid adoption of new technologies, coupled with a strong commitment to sustainability and energy efficiency, positions North America as the frontrunner in driving market growth. As a result, stakeholders in the ultra-low temperature freezers market are increasingly drawn to North America, seeking opportunities to capitalize on the region's dynamic and flourishing landscape.
Global Ultra-low Temperature Freezers Market By Geography
- Largest
- Fastest
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Ultra-Low Temperature Freezers Market Dynamics
Ultra-Low Temperature Freezers Market Drivers
Rising Demand For Blood
- The rising demand for blood and blood components is a significant driver for the market of laboratory freezers. In India alone, there is a substantial need for blood transfusion with 60 million daily surgeries, 240 million primary operations, 331 million cancer-related procedures, and 10 million pregnancy complications. This demand can arise in both urban and rural areas. Improper storage and testing can result in the exposure of millions of people to contaminated blood. Laboratory freezers play a crucial role in safely storing blood and blood components, ensuring compliance with strict regulations. Refrigerators in blood banks have evolved beyond basic cold storage systems and are now recognized as lifesaving equipment.
Ultra-Low Temperature Freezers Market Restraints
Lack Of Skilled Professionals
- The growth of the global ultra-low freezers market may be hindered during the forecast period due to a shortage of skilled professionals proficient in operating these devices.
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Ultra-Low Temperature Freezers Market Competitive Landscape
The competitive landscape of the ultra-low freezers market presents information about various competitors, including their company overview, financials, revenue generation, market potential, research and development investments, new market initiatives, global presence, production sites and facilities, production capacities, strengths and weaknesses, product launches, product range, and application dominance. It is important to note that these data points are specifically related to the companies' activities and strategies in the global ultra-low freezers market.
Ultra-Low Temperature Freezers Market Top Player’s Company Profiles
- Thermo Fisher Scientific Inc. (United States)
- PHC Holdings Corporation (Japan)
- Eppendorf AG (Germany)
- Haier Biomedical (China)
- Helmer Scientific (United States)
- VWR International, LLC (United States)
- Arctiko A/S (Denmark)
- Panasonic Healthcare Co., Ltd. (Japan)
- Bionics Scientific Technologies (India)
- Stirling Ultracold (United States)
- Esco Micro Pte. Ltd. (Singapore)
- Labcold Ltd. (United Kingdom)
- Biomedical Solutions Inc. (United States)
- Angelantoni Life Science (Italy)
- Remi Elektrotechnik Limited (India)
- Aegis Scientific, Inc. (United States)
- So-Low Environmental Equipment Co. (United States)
- Labrepco, LLC (United States)
- Follett LLC (United States)
- Liebherr Group (Switzerland)
Ultra-Low Temperature Freezers Market Recent Developments
- In February 2023, PHC Corporation of North America launched the PHCbibrand VIP ECO SMART ultra-low temperature freezer series for use in facilities, including medical institutions, universities, and pharmaceutical companies. The company’s new PHCbibrand VIP ECO SMART series consists of four models of HFC-free ultra-low temperature freezers that enable efficient and safe long-term storage of specimens and samples for researchers engaged in drug discovery and life science research.
Ultra-Low Temperature Freezers Key Market Trends
- One key market trend in the ultra-low freezers market is the increasing demand for energy-efficient and sustainable solutions. As sustainability and environmental concerns gain prominence, there is a growing emphasis on developing ultra-low freezers that minimize energy consumption and utilize eco-friendly refrigerants. Manufacturers are investing in research and development to introduce innovative technologies that optimize energy efficiency without compromising the performance and reliability of the freezers. This trend aligns with the broader global focus on sustainability and the adoption of green practices across various industries.
Ultra-Low Temperature Freezers Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Deployment mode team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analyses, The ultra-low freezers market is experiencing significant growth and is projected to continue expanding in the coming years. The market analysis reveals several key factors driving this growth. Rising demand for blood and blood components, driven by increasing surgeries, cancer-related procedures, and pregnancy complications, is fueling the need for reliable storage solutions. Additionally, the adoption of ultra-low freezers in bio-banks for storing biological samples is contributing to market expansion. Technological advancements and the development of HFC-free and energy-efficient models are addressing environmental concerns and driving market demand.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 0.48 billion |
| Market size value in 2031 | USD 0.69 billion |
| Growth Rate | 4.20% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Ultra-Low Temperature Freezers Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Ultra-Low Temperature Freezers Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Ultra-Low Temperature Freezers Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Ultra-Low Temperature Freezers Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Ultra-Low Temperature Freezers Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Ultra-Low Temperature Freezers Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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