Ultra-Low Temperature Freezers Market Size, Share, Opportunities, And Trends By Type (Upright, Chest), By Application (Blood & Blood Products, Biological Samples, Drug Compounds), By End-User (Bio-Banks, Hospitals & Clinics, Academic & Research Laboratories, Others), And By Geography - Forecasts From 2023 To 2028
- Published : Nov 2023
- Report Code : KSI061611957
- Pages : 113
The ultra-low temperature freezers market is projected to show steady growth during the forecast period.
Ultra-low freezers are bio-coolers that are used to preserve various materials such as bacteria, viruses, medicines, enzymes, chemicals, cell preparations, and tissue samples. For the most part, their temperature range is -45C to -86C. Growing research facilities in fields like biomedical and biological sciences are driving the need for ultra-low temperature freezers, which are essential components of storage and preservation facilities. Pharmaceutical industries also heavily utilize ULT freezers in their clinical testing and drug discovery operations. Additionally, as the market for blood bank storage grows, so does the demand for it. It is anticipated that the development of energy-efficient ultra-low temperature freezers would lead to new business prospects.
Ultra-low freezers, often known as ULT freezers, are a specific subset of the refrigeration market. These are incredibly complex and cutting-edge technical gadgets made to preserve pharmaceutical and biological samples at very low temperatures. They are an essential instrument for scientific and medical research, as well as for a variety of other businesses including pharmaceuticals and biotechnology. Ultra-low freezers, which are mostly sold to academic institutions, labs, hospitals, and pharmaceutical businesses, are essential for the long-term preservation of priceless biological materials including vaccines, DNA, RNA, proteins, and other temperature-sensitive samples. The market for ultra-low freezers has expanded significantly due to the rising significance of life sciences research and the demand for dependable cold storage solutions. Manufacturers are constantly introducing innovations to enhance energy efficiency, temperature stability, and storage capacity.
- The growing need for vaccines and biopharmaceuticals is a primary factor driving growth: Vaccines and biopharmaceuticals are in high demand due to several interrelated reasons. First of all, the pharmaceutical sector has changed as a result of advancements in genetics and biotechnology. Gene editing has been transformed by methods like CRISPR-Cas9, which have made it possible to create vaccinations and highly focused medicines. Second, growing worries about the state of the world's health have highlighted the need for vaccinations in the fight against infectious illnesses. Furthermore, the rise of bacteria resistant to antibiotics emphasizes the significance of ongoing research and development for vaccines and biopharmaceuticals.
- Rise in funding the research of life sciences is fueling market growth: The market will expand due to the growing funding for life science research and development, which includes developing vaccinations and kid medications, among other things. Additionally, it is anticipated that the growing use of customized medications will increase expenditures in life science, which will increase the need for these freezers.
- One important trend is the government's support for clinical trials and research activities in emerging economies is fueling market expansion. ULT freezers rely heavily on the government funding given to life science research projects as well as other research initiatives. Numerous items, including plasma, blood samples, enzymes, essential organs, medications, vaccines, chemicals, cell preparations, viruses, tissue samples, and bacteria, must be stored for these research projects. The market for ULT freezers is predicted to rise as a result of the governments of emerging nations providing more funding for cutting-edge research in this area. Additionally, practically every major economy is concentrating on expanding its investment in research and healthcare facilities due to the growing threat of biowar. There would be a strong market for these freezers as a result.
- Global ultra-low temperature freezer market size is driven by growth in the biobanking sector: Numerous variables, including the expanding significance of biopreservation and biobanking in a range of industries including research, pharmaceuticals, healthcare, and customized medicine, can be attributed to the rising demand for these services. Ultra-low freezers are essential parts of the infrastructure for biobanking since they offer the right kind of storage for a variety of biological samples. Ultra-low freezer demand is rising as biobanking facilities spread throughout the world as a result of advances in precision medicine, medical research, and pharmaceutical development. To satisfy the changing demands of biobanks, manufacturers in this market have the opportunity to innovate and provide cutting-edge freezer models with features like energy efficiency and remote monitoring.
Products offered by key companies:
- WR International LLC, VWR® Eco Premium ULT Freezers: The VWR® ULT Freezers Eco Premium are made to store delicate materials dependably and safely. They have reduced energy usage and ergonomic control. It increases test accuracy, and freezers offer protected storage for delicate scientific and medical items. The exact temperature control necessary to preserve vital specimen quality is accomplished by high-performance control systems, which employ cutting-edge technology. The stainless steel low-temperature freezers are the top option among lab experts for situations where temperature control is essential.
- TSX Series Ultra-low freezers, Thermo Fisher Scientific: Thermo ScientificTM TSX Series ultra-low freezers, certified by ENERGY STARTM, are made to the highest performance, sustainability, and temperature management requirements. V-drive technology, which significantly lowers energy and HVAC expenses without sacrificing performance, is the basis of the TSX Series. It is intended to adjust to user actions.
The prominent growth in the upright sector under the type segment
The upright segment held the major market share and is likely to dominate the market over the forecast period. Growing demand for freezers in vaccine shipment programs accounts for the lion's share of sector sales. Because these freezers preserve vaccine content and shield heat-sensitive biomolecules, they are appropriate for transporting vaccines containing either messenger ribonucleotides (mRNA) or proteins. These freezers are the most often used since they are easier to maintain and need less floor space. In addition, they include an auto-defrost function, which makes them perfect for maintaining product organization. Large storage capacity and technological advancements in terms of decreased energy use, noise, and carbon footprint are features of these freezers which make it a widely accepted ultra-low temperature freezer type.
The North American region is expected to hold a significant share of the ultra-low temperature freezer market:
Due to the existence of many market players in the area, North America is predicted to create a dominant market share and stable growth during the assessment period. It is anticipated that noteworthy investments made by both new and local companies in the sector of ultra-low temperature freezers would lead to the acquisition of substantial freezing equipment to meet the growing demand for product preservation. The global market for ULT freezers is dominated by the United States. Nationwide ULT freezer market expansion is anticipated to be bolstered by an increase in activities and investments made in the healthcare sector by both public and private entities. Additionally, the growing focus of businesses on R&D initiatives to create effective solutions that lower freezer energy consumption will expand the market size for ULT freezers.
- PHC Corporation of North America introduced the PHCbibrand VIP ECO SMART ultra-low temperature freezer series in February 2023 for use in healthcare facilities, academic institutions, and pharmaceutical firms, among other establishments. Four versions of the company's new PHCbibrand VIP ECO SMART line of ultra-low temperature freezers, free of HFCs, allow researchers working on drug development and life science projects to efficiently and safely store specimens and samples for extended periods.
- BY TYPE
- BY APPLICATION
- Blood & Blood Products
- Biological Samples
- Drug Compounds
- BY END-USER
- Drug Compounds
- Hospitals & Clinics
- Academic & Research Laboratories
- BY GEOGRAPHY
- North America
- United States
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Research Process
3. EXECUTIVE SUMMARY
3.1. Key Findings
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. ULTRA-LOW TEMPERATURE FREEZERS MARKET, BY TYPE
6. ULTRA-LOW TEMPERATURE FREEZERS MARKET, BY APPLICATION
6.2. Blood & Blood Products
6.3. Biological Samples
6.4. Drug Compounds
7. ULTRA-LOW TEMPERATURE FREEZERS MARKET, BY END-USER
7.3. Hospitals & Clinics
7.4. Academic & Research Laboratories
8. ULTRA-LOW TEMPERATURE FREEZERS MARKET, BY GEOGRAPHY
8.2. North America
8.2.1. United States
8.3. South America
8.4.1. United Kingdom
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
8.6.4. South Korea
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Market Share Analysis
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. WR International LLC
10.2. Thermo Fisher Scientific
10.3. Eppendorf AG
10.4. Stirling Ultracold
10.5. PHC Corporation
10.7. Helmer Scientific
10.8. BINDER GmbH
10.10. Esco Micro Pte Ltd
WR International LLC
Thermo Fisher Scientific
Esco Micro Pte Ltd
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