Ultra Low Temperature Freezers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Ultra-low temperature or ULT freezers are an extremely advanced system with temperature capacity ranging from - 45°C to - 86°C and the inner volume of the ULT freezers is in general between 300 and 800 liters. Ultra-low temperature freezers are of two types Upright ULT freezers and Chest ULT freezers. Samples in ultra-low temperature freezers are typically stored in polymer tubes or microtubes. Rising incidences of infectious diseases, cancer, and other chronic diseases have led to new drug discovery or development thereby stimulating demand for ultra-low temperature freezers (ULTF).

Demand for ultra-low temperature freezers (ULTF) is high in the field of research and development and in the biobanks for the storage and protection of drugs, enzymes, chemicals, viruses, bacteria, cell preparations, and tissue samples.

According to the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), more than 7,000 medicines are in development worldwide in the year 2017, 208 drugs for HIV/AIDS, 1,919 drugs for cancer, 401 drugs for diabetes and 563 drugs for cardiovascular diseases, etc. Advancement in drug discovery and clinical testing and rising incidences of cancer and other infectious diseases are the key driving factors in the ultra-low temperature freezers market.

Key Market Trends

Upright Ultra-Low Temperature Freezers Segment is Expected to Hold a Major Market Share

Upright ultra low-temperature freezers (ULT freezers) typically have a temperature range of -40°C to -86°C and are used for the storage of drugs, enzymes, chemicals, viruses, bacteria, cell preparations, and tissue samples. According to International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), more than 7,000 medicines are in development worldwide in the year 2017, 208 drugs for HIV/AIDS, 1,919 drugs for cancer, 401 drugs for diabetes and 563 drugs for cardiovascular diseases, etc.

Upright ULT freezers hold a significant market share in the ultra-low temperature freezers market and is anticipated to show a similar trend over the forecast period. Technological advancements and high adoption of upright freezers along with enhanced accessibility and operation management are the key driving factors in the Upright Ultra-Low Temperature Freezers Segment.

North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period

North America expected to hold a major market share in the global ultra-low temperature freezers market due to a large number of biobanks and pharmaceutical and biotechnology companies in this region. In the year 2017, accounted for major share of the global ultra-low temperature freezers market and the trend is projected to continue during the forecast period. Furthermore, the high adoption of technologically advanced ultra-low temperature freezers and pharmaceutical companies on a large scale for drug discovery and clinical testing processes is fueling the growth of the overall regional market to a large extent.

Competitive Landscape

The Ultra-Low Temperature Freezers Market consists of several global players, which includes Thermo Fisher Scientific, Inc, PHC Holdings Corporation, Haier Biomedical, Arctiko A/S, Helmer Scientific, Eppendorf AG, Abzil Telstar S.L, Labcold Ltd, Bionics Scientific Technologies (P) Ltd, Global Cooling, Inc.

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