Cognizance into Ultra-low Temperature Freezers Market and it’s growth prospects
Category: #health  By Rahul Varpe  Date: 2020-04-23
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Cognizance into Ultra-low Temperature Freezers Market and it’s growth prospects

Ultra-low Temperature Freezers Market will exceed USD 315 million by 2025; as per a new research report. Rising incidence of chronic diseases worldwide and surge in number of road accident and trauma cases will accelerate the demand for new drug development. Favorable demographic changes including increasing geriatric population and lifestyle changes such as sedentary lifestyle will further spur the disease burden. Increasing demand for novel treatment options is expected to escalate the demand for ultra-low temperature freezers (ULTF) during forthcoming years.

Increasing research activities in biotech and pharmaceutical industry will augment ultra-low temperature freezers market. These freezers are used to store biological samples such as blood, plasma, and drugs. Government initiatives will further accelerate the number of research projects thereby enhancing the business growth. Moreover, focus of industry players on development of advanced ULT freezers to ensure rapid cooling will favor industry growth.

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Chest freezers segment held considerable share in 2018 and is expected to witness around 2% CAGR during the forecast timeframe. Segment growth is attributed to advantages associated with chest freezers such as rapid cooling time and larger usable space. However, prohibitive cost and large size of these freezers may hamper segmental growth in foreseeable future.

Blood and blood product segment dominated ultra-low temperature freezers market with more than 30% revenue share in 2018. Increasing incidence of hemophilia, thrombocytopenia and autoimmune diseases as well as other infectious diseases in developed as well as developing countries are key factors driving segmental growth. Rising demand for blood transfusion will increase the need for proper storage of blood and blood components. Furthermore, increasing government initiatives to create awareness regarding plasma collection and use of lifesaving plasma protein therapies will positively impact segmental growth.

Automated ultra-low temperature freezers segment is expected to witness 3.7% CAGR during the analysis period. Increasing adoption of automatic ULT freezers in blood banks and laboratories will drive industry growth. Moreover, automated freezers eliminate freeze-thaw cycles and limit entry of moisture into the system. Benefits associated with automated ULT freezes will increase its adoption among medical experts.

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Europe ultra-low temperature freezers market will experience 3.7% CAGR over the forecast timeline. Increase in blood and organ donations, surge in the number of biobanks and rising investment by public and private organizations will positively impact business growth. Furthermore, rapidly ageing population in the region prone to several diseases will offer immense scope for business growth in Europe.

Asia Pacific ultra-low temperature freezers market held significant revenue share of 14.6% in 2018. The regional growth is attributed to several government initiatives to increase blood and organ donations in the region. Moreover, large population base prone to various infectious and chronic disease will further elevate the demand for blood and blood components thereby propelling regional industry growth.

Prominent industry players involved in ultra-low temperature freezers market are Eppendorf, Thermo Fisher Scientific, Helmer Scientific, Haier, Panasonic Healthcare, VWR International, Arctiko, Binder, EVERmed, Stirling Ultracold, ESCO MICRO and Azbil. These prominent business players are focusing on strategic alliances, new product launch and collaborations to strengthen their market position. For instance, in May 2017, Eppendorf introduced new CryoCube F740 series with increased efficiency and improved storage capacity.



About Author

Rahul Varpe

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Rahul Varpe

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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