Global Ultra-Low Temperature Freezer Market is expected to have a market value of USD 989.44 Million till 2027. Ultra-low temperature freezers are bio-coolers whose temperature ranges from -40°C, -86°C down to -150°C. The growth and development in the research sector, such as biomedical and life sciences and increasing demand for blood bank storage, lead to the market growth of ultra-low temperature freezers. The global ultra-low temperature freezer market is expected to grow at a steady rate owing to the increasing use of ultra-low temperature freezer on a large scale by pharmaceutical companies for drug discovery and clinical testing procedures. Ultra-low temperature freezers are also used to preserve drugs, chemicals, enzymes, cell preparations, and other biopharmaceutical products.
Browse Sample of the Report @ https://www.marketresearchfuture.com/sample_request/1813
Segment Analysis
Global Ultra-Low Temperature Freezer Market has been segmented based on Type, Degree of Cooling, Application, and End User. The market, based on type, has been segmented into upright and chest. The market, based on the degree of cooling, has been categorized into -41°C to -86° C Freezers and -87°C to -150°C Freezers. The market, based on application, has been segmented into blood & blood products, biological samples, drug compounds, and others. The market, based on end users, has been divided into hospitals, ambulatory settings, and research & academic institutes.
Regional Analysis
Global Ultra-Low Temperature Freezer Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas led the market and accounted for the largest share in 2019, owing to the rising demand for bio-pharma products for huge repository and storage, developed healthcare infrastructure, and a large number of healthcare service providers. The biomedical refrigerators and freezers industry is one of the largest industries and standsout among the best and biggest ventures in the US. Furthermore, the adoption of new technologies is fueling the growth of this region in the ultra-low temperature freezer market.
Europe accounts for the second-largest share in the global ultra-low temperature freezer market. The European ultra-low temperature freezer market is driven by the government taking steps for the safety and preservation of temperature-sensitive pharmaceutical products. Also, the rising fund for R&D activities in this region supports the market growth. For instance, according to the National Human Genome Research Institute (NHGRI), in 2019, the institute awarded USD 2.5 million for the formation of WashU-UCSC-EBI Human Genome Reference Center. Thus, rising funds and growing research centers across Europe will drive the growth of the market in this region.
Asia-Pacific is estimated to be the fastest-growing market during the forecast period due to the rising investments by major players and growing investment toward technological advancements in healthcare infrastructure in Asian countries, such as China, Japan, India, and Australia. Moreover, the increasing focus of biotechnology companies to enter into this region is expected to drive the market growth.
The Middle East & Africa ultra-low temperature freezer market is segmented into two major regions, namely, the Middle East and Africa. The Middle East & Africa has less economic developments due to which the region accounts for the least market share but is expected to grow due to the growing demand for better treatments and expansion of the biomedical industry in these countries.
Key Players
MRFR recognizes the following companies as the Key Players in the Global Ultra-Low Temperature Freezer Market— Stirling Ultracold, Global Cooling Inc. (US), Eppendorf AG (Germany), Helmer Scientific (US), VWR International, LLC (US), BINDER GmbH (Germany), Esco Micro Pte Ltd (US), Thermo Fisher Scientific (US), LABCOLD (UK), Arctiko (UK) and PHC Corporation (US).
Browse More Details of the Report @ https://www.marketresearchfuture.com/reports/ultra-low-temperature-freezer-market-1813
No comments:
Post a Comment