Ultra-low Temperature Freezers Market to Grow at a CAGR of 4.5% During 2022 to 2031 | TMR Study

Posted on 2024-03-06 by Transparency Market Research in Healthcare // 0 Comments

Wilmington, Delaware, United States, 2024-Mar-06 — /EPR Network/ — Transparency Market Research Inc. –

The global ultra-low temperature freezers market, valued at US$ 477.9 million in 2021, is projected to grow at a CAGR of 4.5% from 2022 to 2031, reaching over US$ 738.6 million by 2031. The rise in investment in drug development is expected to be a key driver during this period. Ultra-low temperature freezers, vital for storing samples at precise temperature ranges, are witnessing increased demand due to advancements in drug discovery and clinical testing.

Moreover, the growth in the incidence of cancer and infectious diseases further propels market expansion. These freezers also play a crucial role in vaccine storage, contributing to the increased capacity for vaccine storage. Additionally, the growth of ultra-cold chain capabilities is facilitating the global shipment of vaccines. Market players are responding to this demand by launching new products to bolster their market share in the ultra-low temperature freezers segment.

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Ultra-low Temperature (ULT) freezers, also referred to as -80 freezers, are used in the life sciences industry to store biomolecules for protracted periods. They typically provide a temperature range of -40°C to -86°C or -40°F to -123°F in order to prevent heat-induced denaturation of biomolecules such as oligonucleotides and proteins. ULT freezers have two doors to maintain a constant temperature, with the inner door limiting the entry of unwanted heat into the freezer interior. An exterior knob and silicone gasket seal the line around the doors’ edges to close them tightly. Additionally, the polyurethane walls of ULT freezers offer robust heat insulation from the outside environment.

Key Players:

Thermo Fisher Scientific, Inc., Eppendorf AG, PHC Holdings Corporation (Panasonic Healthcare), Azbil Telstar, S.L., Arctiko A/S, Labcold Ltd., Bionics Scientific Technologies (P) Ltd., Haier Biomedical, Global Cooling Inc., and Helmer Scientific

Market Segmentation:

Product
- Upright Freezers
  - Floorstanding
  - Benchtop/Undercounter
- Chest Freezers

Degree of Cooling
- -41°C to -86°C Freezers
- -87°C to -150°C Freezers

Application
- Blood & Blood Products
- Biological Samples
- Flammable Materials
- Drug Compounds
- Others

End-user
- Biobanks
- Pharmaceutical & Biotechnology Companies
- Academic Research Institutes
- Others

Key Developments:

In June 2022, Haier Biomedical, a global innovative life science and medical digital service ecosystem brand, launched the DW-86L828ST new-generation ULT freezer, which integrates TwinCool technology, Frequency Conversion technology, and Hydrocarbon energy-saving technology
In June 2021, Thermo Fisher Scientific launched its advanced TSX Series ULT Freezers, which are the only systems to offer an exterior illumination option that simplifies usage by enabling quick visual inspection of the freezer’s health status. The systems also include an enhanced cloud-connected monitoring functionality and a frost management capability, which features an adjustable cabinet heater that minimizes frost and ice build-up.
In February 2021, Godrej Appliances launched new ultra-low temperature freezers for vaccine storage. These advanced medical freezers can preserve life-saving medical supplies, including critical vaccines, below -80°C and are aimed at boosting both Indian and global medical cold chains.

Regions Covered:

North America(USA, Canada and Mexico)
Europe(UK, Germany, France and the Rest of Europe)
Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region)
South America(Brazil, Argentina and the Rest of South America)
Middle East and Africa(GCC and Rest of the Middle East and Africa)

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Market Drivers and Challenges:

Drivers:

Growing demand for biopharmaceuticals and personalized medicine.
Rising investments in healthcare infrastructure.
Increasing research and development activities in life sciences.

Challenges:

High initial cost and maintenance expenses.
Stringent regulatory requirements.
Limited awareness and accessibility in emerging economies.

Market Trends:

Adoption of energy-efficient and eco-friendly ultra-low temperature freezers.
Integration of advanced features such as remote monitoring and digital control systems.
Emphasis on sustainable cold chain management practices.

Key Market Study Points:

Analysis of market dynamics, including drivers, challenges, and trends.
Assessment of market segmentation by service type, sourcing type, application, industry vertical, and region.
Evaluation of competitive landscape and key market players.
Identification of growth opportunities and strategic recommendations.

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