Ultra-Low Temperature (ULT) Freezers Market
Global Ultra-Low Temperature (ULT) Freezers Market Size, Share, and Trends Analysis Report by Product Type (Upright ULT Freezers, and Chest ULT Freezers), by Technology (Automated, and Semi-Automated), and by End-User (Bio-Banks, Academic and Research Laboratories, Pharmaceutical and Biotechnology Companies, and Others) Forecast Period (2022-2028) Update Available - Forecast 2024-2030
The global ULT freezers market is anticipated to grow at a significant CAGR of 4.4% during the forecast period. The key factors that are contributing to the market growth include the increasing investments in R&D activities in life science and the growing adoption of various modified drugs. Moreover, the increasing demand for ULT freezers in the pharmaceutical industry to store various components such as drugs, and tissue along with the growing utilization of pharmaceutical storage equipment in biobanks, blood banks, and research laboratories are some other factors boosting the market growth.
In addition, the increasing campaigns to raise awareness about blood donation and blood donation campaigns are aiding the growth prospects in the market. However, for setting up the facilities, high capital expenditure is required for the manufacturing of these freezers which may hamper the growth of the market.
Impact Of COVID-19 Pandemic on Global Ultra-Low Temperature (ULT) Freezers Market
Due to the COVID-19 pandemic, the ULT freezers market registered positive growth as the demand for the products increased. The demand for the ULT freezers increased during the pandemic to store the COVID-19 vaccine that requires ultra-cold storage. Furthermore, various pharmaceutical and biotechnology companies have collaborated with product manufacturing companies to transport and store vaccines in several locations. In addition, due to the sudden spike in COVID-19 cases, the demand for vaccines was boosted, and that in turn created the huge demand for these machines as they protect vaccines.
Segmental Outlook
The global ultra-low temperature freezer market is segmented based on product type, technology, and end-user. Based on product type, the market is sub-segmented into upright ULT freezers, and chest ULT freezers. Based on the technology the market is bifurcated into automated, and semi-automated. Based on the end-user, the market is classified into the bio-banks, academic and research laboratories, pharmaceutical and biotechnology companies, and others. Among the technology, the automated segment is expected to hold a prominent share in the market, due to the rise in deployment of automated ULT freezers in biobanks, as it decreases the time required to arrange, store, and maintain high-quality samples. Additionally, the defrosting process of automated freezers is easy and quick and also limits the emission of greenhouse gases.
Global Ultra-Low Temperature Freezer Market Share By Product Type, 2021 (%)
The Upright ULT Freezers Segment is Anticipated to Hold a Significant Share in the Global ULT Freezers Market
Upright ULT freezers have a temperature range of -40°C to -86°C, which is widely used for storing drugs, enzymes, chemicals, viruses, bacteria, cell preparations, and tissue samples. The primary factor propelling the segmental growth is rapidly rising clinical trials of medicines and rugs which requires ULT freezers for storage purpose. Several medicines are under clinical trial and are expected to launch in the coming years. According to the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), in 2021, around 2,178 medicines and drugs are under Phase-III trials and 3,752 are under phase-II trials. Thus, the rising demand for storage of these drugs is anticipated0 to drive the requirement for the upright ULT freezerS segment.
Regional Outlooks
The global ULT freezers market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. North America is expected to hold a considerable share in the market owing to the presence of various key players such as GLOBAL COOLING, INC., Haier Biomedical, LABCOLD, and Thermo Fisher Scientific Inc.
Global Ultra-Low Temperature (ULT) Freezers Market Growth, By Region 2022-2028
The Asia-Pacific Region is Expected to Grow at a Remarkable Pace Over the Forecast Period
Among all the regions, the Asia-Pacific is expected to witness a significant CAGR over the forecast period in the global ULT freezers market. The market is primarily driven by the rising establishment of well-equipped hospitals and biobanks coupled with increasing healthcare expenditure by the government of nations such as India, and China among others across the region. According to the World Bank, the government health expenditure in terms of per capita increased by 73%, post-COVID-19 pandemic in 2020. Furthermore, some other factors contributing to regional growth include rising R&D activities and increasing medical tourism.
Market Players Outlook
The major companies serving the global ULT freezers market include Avantor, Inc., Cardinal Health, Godrej & Boyce Manufacturing Co. Ltd., BIONICS SCIENTIFIC TECHNOLOGIES (P) LTD., Haier Biomedical, Thermo Fisher Scientific Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in March 2021, Stirling Ultracold merged with BioLife Solutions to combine expertise and expand individual product offerings for biopharma research and provide customers with ultra-low temperature Stirling freezer solutions in full product portfolio capabilities within BioLife Solutions.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global ultra-low temperature (ULT) freezers market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Ultra-Low Temperature Freezers Market Market
• Recovery Scenario of Global Ultra-Low Temperature Freezers Market Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Avantor, Inc.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Cardinal Health
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Godrej & Boyce Manufacturing Co. Ltd.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Haier Biomedical
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. Thermo Fisher Scientific Inc.
3.6.1. Overview
3.6.2. Financial Analysis
3.6.3. SWOT Analysis
3.6.4. Recent Developments
3.7. Key Strategy Analysis
3.8. Impact of Covid-19 on Key Players
4. Market Segmentation
4.1. Global Ultra-Low Temperature Freezers Market Market by Product Type
4.1.1. Upright ULT Freezers
4.1.2. Chest ULT Freezers
4.2. Global Ultra-Low Temperature Freezers Market Market by Technology
4.2.1. Automated
4.2.2. Semi-Automated
4.3. Global Ultra-Low Temperature Freezers Market Market by End-User
4.3.1. Bio-Banks
4.3.2. Academic and Research Laboratories
4.3.3. Pharmaceutical and Biotechnology Companies
4.3.4. Others
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Arctiko
6.2. BINDER GmbH
6.3. BIONICS SCIENTIFIC TECHNOLOGIES (P) LTD.
6.4. B Medical Systems S.à r.l.
6.5. CompareNetworks, Inc.
6.6. D.A.I. Scientific Equipment, Inc.
6.7. Eppendorf AG
6.8. Esco Lifesciences Group
6.9. Focus Technology Co., Ltd.
6.10. Helmer, Inc.
6.11. Klinge Corp.
6.12. LABCOLD
6.13. LABFREEZ INSTRUMENTS GROUP CO. LTD.
6.14. LabRepCo
6.15. Meditech Technologies India Pvt. Ltd.
6.16. Newtronic
6.17. NuAire, Inc.
6.18. PHC Corp
6.19. REMI GROUP
6.20. STERICOX INDIA PVT. LTD.
6.21. TELSTAR
6.22. Thomas Publishing LLC
1. GLOBAL ULTRA-LOW TEMPERATURE FREEZERS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
2. GLOBAL UPRIGHT ULTRA-LOW TEMPERATURE FREEZERS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL CHEST ULTRA-LOW TEMPERATURE FREEZERS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($MILLION)
4. GLOBAL ULTRA-LOW TEMPERATURE FREEZERS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2021-2028 ($ MILLION)
5. GLOBAL AUTOMATED ULTRA-LOW TEMPERATURE FREEZERS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL SEMI-AUTOMATED ULTRA-LOW TEMPERATURE FREEZERS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL ULTRA-LOW TEMPERATURE FREEZERS MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
8. GLOBAL ULTRA-LOW TEMPERATURE FREEZERS FOR BIO-BANKS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL ULTRA-LOW TEMPERATURE FREEZERS FOR ACADEMIC AND RESEARCH LABORATORIES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL ULTRA-LOW TEMPERATURE FREEZERS FOR PHARMACEUTICAL AND BIOTECHNOLOGY COMPANIES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL ULTRA-LOW TEMPERATURE FREEZERS FOR OTHER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. GLOBAL ULTRA-LOW TEMPERATURE FREEZERS MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
13. NORTH AMERICAN ULTRA-LOW TEMPERATURE FREEZERS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
14. NORTH AMERICAN ULTRA-LOW TEMPERATURE FREEZERS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
15. NORTH AMERICAN ULTRA-LOW TEMPERATURE FREEZERS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2021-2028 ($ MILLION)
16. NORTH AMERICAN ULTRA-LOW TEMPERATURE FREEZERS MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
17. EUROPEAN ULTRA-LOW TEMPERATURE FREEZERS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
18. EUROPEAN ULTRA-LOW TEMPERATURE FREEZERS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
19. EUROPEAN ULTRA-LOW TEMPERATURE FREEZERS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2021-2028 ($ MILLION)
20. EUROPEAN ULTRA-LOW TEMPERATURE FREEZERS MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
21. ASIA-PACIFIC ULTRA-LOW TEMPERATURE FREEZERS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
22. ASIA-PACIFIC ULTRA-LOW TEMPERATURE FREEZERS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
23. ASIA-PACIFIC ULTRA-LOW TEMPERATURE FREEZERS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2021-2028 ($ MILLION)
24. ASIA-PACIFIC ULTRA-LOW TEMPERATURE FREEZERS MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
25. REST OF THE WORLD ULTRA-LOW TEMPERATURE FREEZERS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
26. REST OF THE WORLD ULTRA-LOW TEMPERATURE FREEZERS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
27. REST OF THE WORLD ULTRA-LOW TEMPERATURE FREEZERS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2021-2028 ($ MILLION)
28. REST OF THE WORLD ULTRA-LOW TEMPERATURE FREEZERS MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL ULTRA-LOW TEMPERATURE FREEZERS MARKET, 2021-2028 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL ULTRA-LOW TEMPERATURE FREEZERS MARKET BY SEGMENT, 2021-2028 ($ MILLION)
3. RECOVERY OF GLOBAL ULTRA-LOW TEMPERATURE FREEZERS MARKET, 2022-2028 (%)
4. GLOBAL ULTRA-LOW TEMPERATURE FREEZERS MARKET SHARE BY PRODUCT TYPE, 2021 VS 2028 (%)
5. GLOBAL UPRIGHT ULTRA-LOW TEMPERATURE FREEZERS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6. GLOBAL CHEST ULTRA-LOW TEMPERATURE FREEZERS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7. GLOBAL ULTRA-LOW TEMPERATURE FREEZERS SHARE BY TECHNOLOGY, 2021 VS 2028 (%)
8. GLOBAL AUTOMATED ULTRA-LOW TEMPERATURE FREEZERS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
9. GLOBAL SEMI-AUTOMATED ULTRA-LOW TEMPERATURE FREEZERS IN MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
10. GLOBAL ULTRA-LOW TEMPERATURE FREEZERS MARKET SHARE BY END-USER, 2021 VS 2028 (%)
11. GLOBAL ULTRA-LOW TEMPERATURE FREEZERS FOR BIO-BANKS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
12. GLOBAL ULTRA-LOW TEMPERATURE FREEZERS FOR ACADEMIC AND RESEARCH LABORATORIES MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
13. GLOBAL ULTRA-LOW TEMPERATURE FREEZERS FOR PHARMACEUTICAL AND BIOTECHNOLOGY COMPANIES MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
14. GLOBAL ULTRA-LOW TEMPERATURE FREEZERS FOR OTHERS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
15. US ULTRA-LOW TEMPERATURE FREEZERS MARKET SIZE, 2021-2028 ($ MILLION)
16. CANADA ULTRA-LOW TEMPERATURE FREEZERS MARKET SIZE, 2021-2028 ($ MILLION)
17. UK ULTRA-LOW TEMPERATURE FREEZERS MARKET SIZE, 2021-2028 ($ MILLION)
18. FRANCE ULTRA-LOW TEMPERATURE FREEZERS MARKET SIZE, 2021-2028 ($ MILLION)
19. GERMANY ULTRA-LOW TEMPERATURE FREEZERS MARKET SIZE, 2021-2028 ($ MILLION)
20. ITALY ULTRA-LOW TEMPERATURE FREEZERS MARKET SIZE, 2021-2028 ($ MILLION)
21. SPAIN ULTRA-LOW TEMPERATURE FREEZERS MARKET SIZE, 2021-2028 ($ MILLION)
22. REST OF EUROPE ULTRA-LOW TEMPERATURE FREEZERS MARKET SIZE, 2021-2028 ($ MILLION)
23. INDIA ULTRA-LOW TEMPERATURE FREEZERS MARKET SIZE, 2021-2028 ($ MILLION)
24. CHINA ULTRA-LOW TEMPERATURE FREEZERS MARKET SIZE, 2021-2028 ($ MILLION)
25. JAPAN ULTRA-LOW TEMPERATURE FREEZERS MARKET SIZE, 2021-2028 ($ MILLION)
26. SOUTH KOREA ULTRA-LOW TEMPERATURE FREEZERS MARKET SIZE, 2021-2028 ($ MILLION)
27. REST OF ASIA-PACIFIC ULTRA-LOW TEMPERATURE FREEZERS MARKET SIZE, 2021-2028 ($ MILLION)
28. REST OF THE WORLD ULTRA-LOW TEMPERATURE FREEZERS MARKET SIZE, 2021-2028 ($ MILLION)
