This report provides exclusive insights into the COVID-19 impact on the Ultra-low Temperature Freezers Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Ultra-low Temperature Freezers Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Ultra-low Temperature Freezers Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on ultra-low temperature freezers market provides an in-depth analysis of segments and sub-segments in the global as well as regional ultra-low temperature freezers market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional ultra-low temperature freezers market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global ultra-low temperature freezers market. According to the report, the global ultra-low temperature freezers market is projected to grow at a CAGR of 6.9% over the forecast period of 2018-2024.
Ultra-low temperature freezers are bio-coolers and one of the critical storage and preservation device. Ultra-low temperature freezers widely used in biological products, to preserve bacteria, viruses, chemicals, drugs, cell preparations, and tissue samples. In addition, using temperature control, ULT freezer allows temperatures to be adjusted to match the temperature capability to storage. Generally, the temperature scope of ultra-low temperature freezers is from - 45C to - 86C for most of the biological samples. Ultra-low temperature freezers are divided into 3 types based on temperature ranges that are -60 degrees, -86 degree, and -105 degree to -150 degree ultra-low temperature freezers. -60 degree freezer is fit for electronic devices, tuna preservation, special materials at low temperature, biological materials, stored plasma, vaccines, and reagents. -86 degree freezer used in biological products and -105 degree to -150 degree freezers for research institutes, biotechnology, metal processing, hospitals, university laboratories, epidemic prevention system, blood banks, military enterprises.
Increased adoption of automatic ultra-low temperature freezers in biobanks and laboratories to store biological samples such as DNA/RNA, plant samples and insect artifacts, autopsy materials, blood, plasma and tissues, chemicals, drugs, and antibiotics drives the growth of ultra-low temperature freezers market. Owing to benefits such as a reduction in time required for storing and retrieving samples delivered by automatic ULT freezers boosts the growth of ultra-low temperature freezers market. In addition, a rising number of organ donations and raising awareness in public and private organizations propels the adoption of ULT freezers for organ storage. Along with technological advancements in ULT freezers, factors such as the development of portable freezers, a natural refrigerant, reduced energy consumption, and provision of temperature uniformity drives the growth of ultra-low temperature freezers market. The growing facilities in research sectors such as life sciences and biomedical for orphan drugs with a growing demand for personalized medicines fuels the growth of ultra-low temperature freezers market. Moreover, elderly people suffering from diseases that require transplantation such as chronic kidney disease increases the growth of ultra-low temperature freezers market. Manufacturing firms and performance testing labs use ultra-low temperature freezers to determine the ability of products and machinery to perform reliably under severe low-temperature conditions that boost the growth of ultra-low temperature freezers market. However, the higher power consumption of ULT freezers will hinder the growth of the ultra-low temperature freezers market. Furthermore, development in ULT freezers such as total sample security, technological advancements in ULT freezer and the lower energy consumption is providing a beneficial opportunity for ultra-low temperature freezers market.
Among the geography, North America has a huge number of biobanks and pharmaceutical & biotechnology companies. In addition, High adoption of technologically advanced ULT freezers facilitates growth in this region. Presence of ultra-low temperature freezer manufacturing companies such as panasonic healthcare corporation of North America, VWR International, Helmer Scientific, Haier, Eppendorf AG, Thermo Fisher Scientific Inc. boosts the growth of ULT freezers and many products manufactured in this region are testing their equipment’s. Furthermore, the Asia-Pacific region is expected as the fastest growing region owing to raising awareness of ultra-low temperature freezers and an increasing number of biobanks and forensic labs coupled with growing government support. Moreover, enhancement in healthcare infrastructure in this region can also provide a major boost for the market growth
The report on global ultra-low temperature freezers market covers segments such as product type, cooling temperature range, defrosting type, end users, and application. On the basis of product type, the sub-markets include upright ULT freezers and chest ULT freezers. On the basis of cooling temperature range, the sub-markets include -40 to -60 degree, -61 to -86 degree, and greater than -86 degree. On the basis of defrosting type, the sub-markets include automatic and manual. On the basis of end users, the sub-markets include research universities, medical centers and hospitals, blood banks, and forensic labs for long-term evidence storage. On the basis of application, the sub-markets include blood & blood products, biological samples, flammable materials, drug compounds, and others.
The report provides profiles of the companies in the market such as Eppendorf AG, Thermo Fisher Scientific, Arctiko, Bionics Scientific Technologies Pvt. ltd., Lec Medical, LABCOLD, REMI GROUP, VWR INTERNATIONAL, BINDER GmbH, and Helmer Scientific.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of ultra-low temperature freezers market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.