Ultra-Low Temperature Freezer Market Insights
Pune, India, October, 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on Ultra-Low Temperature Market Research Report.
Ultra-Low Temperature Freezer is designed to deal with the contamination, an everyday challenge various cell culture labs confront. Contamination, undetected or ignored endangers the reliability and reproducibility of experimental data. Hence, each lab relies on ULT freezers as the best measures to prevent microbial contamination.
Increasing number of research activities taking place in the research Institutes or laboratories in the pharmaceutical manufacturing and bioscience defines the augmented demand for ULT freezers and its increasing market size. Besides, the efficacy these ULT freezers deliver in bio-banks and hospitals escalates the market of ULT freezers to the ascended heights on the global platform.
Acknowledging the heightened accruals this market is witnessing currently, Market Research Future (MRFR), in its recently published study report, asserts that the global ultra-low temperature freezer market is forecasted to register 2.7% CAGR between 2016 -2022, to be valued at USD 701.4 million by 2022.
Technological advancements that took place in the smart and connected devices and the proliferation of some ubiquitous technologies such as the Artificial Intelligence (AI) and Internet of Things (IoT) in these freezers foster the market growth.
Additional factors such as substantial investments put in the R&D activities to suffice the augmenting demand for break-through drug discovery and treatments to respond to the growing prevalence of chronic disease and transplants are fuelling the market growth to an extent.
Furthermore, factors propelling the market growth include the improving economic conditions worldwide that enable access to the quality, and improved health care fosters the market growth. Advancements in surgeries, fuel the market growth.
Conversely, factors such as prohibitive costs associated with ultra-low temperature freezer and the lack of awareness towards the availability of these appliances in the developing as well as in the developed regions are considered as the major factors impeding the market growth. Adversely, new products and services available in the developing and well as developed countries and the presence of well-established market players are expected to provide impetus to the market growth, filling up the demand and supply gap.
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Global Ultra-Low Temperature Freezer Market- Segments
MRFR has segmented its analysis into three key dynamics for the convenience of understanding;
By Types : Upright ULT Freezers and Chest ULT Freezers among others.
By End-users : Bio-Banks, Hospital, Academic, and Research Institute among others.
By Regions : North America, Europe, APAC and Rest-of-the-World.
Global Ultra-Low Temperature Freezer Market- Regional Analysis
Globally, the North American region is dominating the global ultra-low temperature freezer market. Factors substantiating the market growth include increasing R&D activities and research projects, extensive uptake of these advanced freezers, increasing governmental support for R&D activities and high health care expenditures. The ultra-low temperature freezer market in North America is expected to reach USD 393.9 Mn by 2022.
Europe region is another lucrative market for ultra-low temperature freezers. The market is heading with the increasing emphasis on the development of advent freezing equipment, rising government support for R&D activities with the increased funding. Besides, the rising numbers of specialty services offered by various healthcare providers provide impetus to the market growth in the region. Thus, the market in Europe is expected to grow at a CAGR of 2.8% from 2016-2022.
The ultra-low temperature freezer market in the Asia Pacific region is emerging as a promising market, which is growing rapidly. Increasing number of research labs is defining the growing demand for this type of freezers. Furthermore, factors such as the increasing demand for quality appliances in the healthcare and rapidly developing healthcare technology is expected to lead the use of advanced equipment, which, in turn, is expected to fuel the market growth, helping it to reach USD 152.5 Mn by 2022.
The global ultra-low temperature freezer market is fragmented with a large number of players churning the competition. They strive to develop highly advanced freezers that can In-addition to tackle the everyday challenge of contamination in cell culture labs. Freezers that can reinforce the reliability and integrity of the cold preservation process, minimizing any potential technical risks, such as mechanical breakage rates, disruptions, and obstructions while also reduce a lab’s environmental footprint all at once.
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Some of the leaders in the market which are profiled in the MRFR analysis are VWR International, Panasonic Healthcare Corporation (North America), Helmer Scientific, Haier, Thermofisher Scientific Inc., and Eppendrof AG.
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