Ultra-Low Temperature Freezer Market

The ultra-low temperature freezer market is projected to increase from US$ 724.36 million in 2024 to US$ 1.10 billion by 2031, with an expected CAGR of 4.8% from 2025 to 2031.

Market Insights and Analyst View:

The ultra-low temperature freezer market is growing due to heightened R&D efforts aimed at developing new drug compounds, a rising demand for blood and blood components, and increased government backing for research and clinical trials. Furthermore, the introduction of advanced products by market players is propelling market expansion. Thermo Scientific Revco RLE -86°C upright freezers come in five capacities, accommodating 300 to 700 2-inch boxes, and offer exceptional thermal performance, safety, and security.

Growth Drivers and Challenges:

Biological research specimens require storage at temperatures below -80°C, which is where ultra-low temperature (ULT) values come into play. The ULT feature serves as an alternative to traditional compressor-based cooling technology, which continues to improve as understanding of it advances. Haier Biomedical's innovative ULT freezers utilize smart frequency conversion technology, achieving an impressive energy consumption rate of just 8.2 Kwhr/day with a capacity of 829 L/29.2 ft3. In October 2022, Thermo Fisher Scientific introduced a new freezer to its ultra-low temperature (ULT) green portfolio, the Thermo Scientific TDE Series -80°C Chest Freezer, which is powered by H-drive hydrocarbon systems, enhancing performance for critical research while maintaining sustainability goals. In June 2023, BioLife Solutions’ Stirling ultracold upright ULT freezer ISO class 6 received approval for cleanroom applications in line with Good Manufacturing Practice (GMP) standards, ensuring biostorage performance and environmental cleanliness.

ULT sample storage freezers are essential for numerous biobanks, clinics, and laboratories worldwide, allowing for the preservation of various biological samples, including DNA, RNA, proteins, and cell extracts. A constant power supply is necessary to sustain low temperatures. The International Institute for Sustainable Laboratories reports that the average ULT freezer consumes approximately 20 kWh per day, equivalent to the energy usage of a single-family home. Given that laboratories and research facilities often operate multiple units simultaneously, the associated operating and energy costs can significantly influence user preferences. The annual operating cost for an upright, mechanical ULT freezer can range from US$ 750 (£570) to US$ 1,000 (£750), depending on factors such as size and temperature range. Regular maintenance, including defrosting, can substantially lower these costs. Additionally, the aforementioned figures do not account for the extra expenses related to HVAC systems and warm air removal, making the high costs of ULT freezers a major concern for budget-conscious laboratories and storage facilities.

Strategic Insights

Report Segmentation and Scope:

The ultra-low temperature freezer market is categorized by type, application, technology, and geography. By application, the market is divided into blood and blood products, organs, pharmaceuticals, forensic and genomic research, and others. The technology segment is split into automatic and semi-automatic categories.

Geographically, the ultra-low temperature freezer market is segmented into North America (US, Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia, and the Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, Southeast Asia, and the Rest of Asia Pacific), the Middle East & Africa (UAE, Saudi Arabia, South Africa, and the Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

Segmental Analysis:

The ultra-low temperature freezer market is divided into chest freezers and upright freezers. In 2022, the upright freezer segment held a larger market share and is expected to experience a higher CAGR from 2022 to 2030. The anticipated growth in the upright freezer segment is attributed to benefits such as compact design, ease of organization, and a variety of safety features. Additionally, the increasing adoption rate due to technological advancements that enhance operational supervision and convenience will further boost the growth of the upright segment during the forecast period.

Regional Analysis:

Regionally, the ultra-low temperature freezer market is divided into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. North America is the largest contributor to the global ultra-low temperature freezer market growth. Asia Pacific is anticipated to achieve the highest CAGR in the ultra-low temperature freezer market from 2022 to 2030. The growth of the ultra-low temperature freezer market in the US is primarily driven by the rising prevalence of lung cancer, new product launches, and government initiatives. The increasing demand for biobanks is transforming the healthcare and economic systems in the US, with a focus on understanding diseases, drug discovery, and development. Furthermore, biobank research is providing new insights into the genetic aspects of human diseases, leading to a more automated and personalized healthcare approach. Several market players in the US are dedicated to offering a diverse and innovative portfolio of biobanking products and services aimed at accelerating lifesaving discoveries. The growing number of business activities among market players is significantly contributing to market growth. In November 2020, hospitals across various US states faced challenges in acquiring ultra-cold freezers necessary for the safe storage of the Pfizer Inc. COVID-19 vaccine, despite guidance from the US Centers for Disease Control and Prevention (CDC) to delay purchases.

Ultra-Low Temperature Freezer Market Report Scope

Industry Developments and Future Opportunities:

Key initiatives by leading players in the ultra-low temperature freezer market include:

1. In May 2023, PHC Corporation of North America (PHCNA) announced that its PHCbi brand VIP ECO SMART ultra-low temperature freezer received the Outstanding New Product Award for 2023 from the International Society for Biological and Environmental Repositories (ISBER). This product is designed for use in various facilities, including universities, medical institutions, and pharmaceutical companies.
2. In February 2023, PHC Corporation of North America (PHCNA) launched the PHCbi brand VIP ECO SMART ultra-low temperature freezer series, which is built on innovative and reliable technology to enhance energy-saving performance while improving security and usability.

Competitive Landscape and Key Companies:

Prominent players in the ultra-low temperature freezer market include Thermo Fisher Scientific Inc, Godrej Group, Haier Group Corporation, Blue Star Limited, Helmer Scientific Inc, PHC Holdings, BioLife Solutions Inc, Eppendorf SE, Meling Biomedical, and Arctiko. These companies are focused on launching new products and expanding geographically to meet the growing global consumer demand and broaden their specialty product offerings. Their international presence enables them to serve a large customer base, facilitating market expansion.

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