Ultra-low Temperature Freezer Market to Register Significant Growth Globally During 2020-2030

The global ultra-low temperature freezer market will register a CAGR of 4% throughout the assessment period (2020-2030). The COVID-19 pandemic has been a key growth catalyzer of the market due to an exorbitant increase in demand for blood & blood components, across nations.
"Constant technological progression is anticipated to be beneficial for the ultra-low temperature freezer market." says a Fact.MR analyst.
Ultra-low Temperature Freezer Market - Key Takeaways
  • Upright ULT freezers category accounts for more than 60% of the overall market share and has a higher growth pace.
  • Demand from hospitals accounts for nearly 40% market share
  • The blood & blood component category will be holding the highest market share all through 2020-2030.
  • North America will remain lucrative owing to the rising demand for ULT freezers and the advanced healthcare sector.
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Ultra-low Temperature Freezer Market - Drivers
  • The ever-growing need for blood & blood products is a prominent driving aspect of the ULT freezer market.
  • Increasing R&D exercises amid government and key players supports clinical trials, this upheld to be propellers for the market growth.
  • Growing demand for storage units all over blood banks, hospitals, etc., owing to growing cases of diseases worldwide, is likely to boost demand.
Ultra-low Temperature Freezer Market - Constraints
  • High manufacturing cost and energy consumption continue to be major impediments
  • Regulatory issues with ultra-low temperature freezers could limit the industry expansion amid the analysis period.
Anticipated Market Impact by COVID-19 Outbreak
The ultra-low temperature freezer market is foreseeing a significant rise in the demand, since research institutes and hospitals have demonstrated a growing requirement for these products, as a result of the increasing need for storage facilities for all end-user segments of the market.
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Competition Landscape
Major companies in the ultra-low temperature freezer market include Helmer Scientific, Eppendorf AG, Panasonic Healthcare Corporation, Arctiko A/S, Thermo Fisher Scientific, Bionics Scientific Technologies (P) Ltd., Haier Biomedical, Glen Dimplex, Remi Group, and LABCOLD. Companies are engaged in inorganic and organic growth strategies along with research & development, alleviating advanced technologies in the ultra-low temperature freezers market.
More on the Report
The Fact.MR's market research report provides in-depth insights into the ultra-low temperature freezer market. The market is scrutinized 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 seven major regions (North America, Europe, East Asia, South Asia, Oceania, Latin America, and Middle East & Africa (MEA).
Press Release: https://www.factmr.com/media-release/1670/global-ultralow-temperature-freezer-market

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