Ultra-low Temperature Freezer Market to Cross US$ 750 Mn by 2030
Mass technological transformation of the global healthcare industry has left key market participants struggling to traverse the complexities of medical and life sciences. Given the shifting dynamics of the global healthcare sector, pharma and biotech companies are taking measured efforts to improve patient outcomes in an effective manner, while keeping a careful watch on the bottom line.
The COVID-19 pandemic, which has been responsible for devastating effects on businesses around the world, has, in fact, proved to be beneficial for the ultra-low temperature freezer market. Key reason being, rising demand for storage units across hospitals, blood banks, etc., due to increasing cases of diseases across the globe. This factor has significantly affected the ultra-low temperature freezer market in a positive manner, which makes it one of the very few markets to have benefitted from this pandemic. Also, with steady rise in research & development activities pertaining to sectors such as biotechnology, pharmaceuticals, etc., there has been noticeable increase in demand for ultra-low temperature freezers across the globe.
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Based on Fact.MR’s study, it has been seen that, North America is the dominant region of the market, owing to its advanced healthcare infrastructure and unbiased government support related to research activities, clinical trials, etc., besides the continuously increasing prevalence of chronic diseases.
The global ultra-low temperature freezer market is set to witness a CAGR of over 4% over the next decade, to be valued more than US$ 750 Mn by 2030-end.
“Constant technological advancements is the leading driver of the ULT freezer market,” – says a Fact.MR analyst.
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Key Takeaways from Ultra-low Temperature Freezer Market Report
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Investments in Research & Development to Boost Market Revenue
Key players such as Eppendorf and Panasonic Healthcare have invested in research & development, facilitating advanced technologies in the ultra-low temperature freezers market – introduction of radio-frequency identification (RFID). This is a technological enhancement that is predicted to significantly impact the growth of the ultra-low temperature freezer market. This is also beneficial for the security of sensitive samples from any unauthorized access.
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More Valuable Insights on Ultra-low Temperature Freezer Market
Fact.MR, in its new offering, presents an unbiased analysis of the global ultra-low temperature freezer market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study divulges essential insights on the ultra-low temperature freezer market on the basis of type (upright [floorstanding, benchtop/undercounter], and chest), end user (hospitals, research institutes, bio-banks, and pharmaceutical & biotechnology companies), degree of cooling (-41 to -86 & -87 to -150 Celsius), and application (blood & blood products, flammable materials, biological samples, drug compounds, and others), across major regions of the world (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).
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May 09, 2021