CHICAGO, UNITED STATES, September 7, 2023/EINPresswire.com/ — The Global 𝐔𝐥𝐭𝐫𝐚-𝐋𝐨𝐰 𝐓𝐞𝐦𝐩𝐞𝐫𝐚𝐭𝐮𝐫𝐞 𝐅𝐫𝐞𝐞𝐳𝐞𝐫𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 has been witnessing robust growth in recent years. In 𝟐𝟎𝟐𝟐, the market generated sales of 𝐔𝐒$ 𝟓𝟔𝟖.𝟔 𝐦𝐢𝐥𝐥𝐢𝐨𝐧. 𝐁𝐲 𝟐𝟎𝟑𝟏, the market is estimated to reach 𝐔𝐒$ 𝟕𝟖𝟖.𝟓 𝐦𝐢𝐥𝐥𝐢𝐨𝐧, growing at a Compound Annual Growth Rate(𝐂𝐀𝐆𝐑) 𝐨𝐟 𝟑.𝟕% during the forecast period from 𝟐𝟎𝟐𝟑 𝐭𝐨 𝟐𝟎𝟑𝟏.
𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/ultra-low-temperature-freezers-market
ULT freezers are now a vital part of many industries, including the biotechnology and pharmaceutical sectors, academic and research organizations, hospitals, and blood banks, due to their fast expansion. The market is being driven by advances in drug research and clinical testing, and the rise in cancer cases and other infectious disorders.
The market is expanding owing to the rising use of ultra-low temperature freezers to store biological samples in bio-banks. For instance, in September 2022, the Journal of Rapid and Transparent Publishing published an article that states the Integrated Biorepository of H3Africa Uganda (IBRH3AU) at Makerere University in Uganda is one of the first biobanks of its kind in Eastern Africa. In addition, it has a freezer company that is outfitted with 20 ultra-low temperature (ULT) freezers. The source added that the biobank’s ultra-low temperature freezers could keep biological samples adequately because they could maintain temperatures between -70°C and -80°C and can hold each 50,400 2 ml vials. As more biobanks adopt ultra-low-temperature freezers, it will drive market growth.
Transplantations of organs have increased on a global scale. ULT freezers are essential for the preservation of organs and tissues for transplantation. The organs are kept in these freezers at extremely low temperatures to preserve their viability until they may be transplanted into patients. The Health Resources and Services Administration reports that over 105,924 people are waiting for an organ transplant in the United States, and 17 people die each day while waiting. In addition, according to early data from the United Network for Organ Sharing (UNOS), 42,887 organ transplants were carried out in the United States in 2022, setting a new annual record and representing an increase of 3.7% over 2021. The need for ULT freezers in hospitals and healthcare facilities is rising along with the number of organ transplant surgeries.
𝐔𝐩𝐫𝐢𝐠𝐡𝐭 𝐔𝐥𝐭𝐫𝐚 𝐋𝐨𝐰 𝐓𝐞𝐦𝐩𝐞𝐫𝐚𝐭𝐮𝐫𝐞 (𝐔𝐋𝐓) 𝐅𝐫𝐞𝐞𝐳𝐞𝐫𝐬 𝐓𝐲𝐩𝐞 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐞𝐝 𝐟𝐨𝐫 𝐚 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐨𝐟 𝐔𝐒$ 𝟑𝟓𝟑.𝟓𝟖 𝐌𝐢𝐥𝐥𝐢𝐨𝐧
With a predicted CAGR of 3.9%, upright ULT freezers are expected to dominate the global ultra-low temperature (ULT) freezer market. In 2022, the segment generated a revenue of over $353.58 million.
With a typical temperature range of -40°C to -86°C, upright ultra-low temperature freezers (ULT freezers) are used to store medications, enzymes, chemicals, viruses, bacteria, cell preparations, and tissue samples. It is projected that the advantages provided by upright ULTs will increase the usage of these freezers in the near future.
A growing number of biobanks and developments in upright ULT freezer technology also contribute to the segment’s expansion. For instance, in March 2023, Biodiversity Biobanks South Africa (BBSA) established a network of central biobanks. This network attempts to consolidate 22 distinct biobanks and seven institutions that were previously dispersed around South Africa to monitor and maintain biodiversity samples.
Additionally, the industry is growing due to an increase in R&D for pharmaceuticals and vaccines. For instance, there are now an estimated 1,946 active clinical studies for vaccines, according to data provided by ClinicalTrials.Gov on May 30, 2023. In the upcoming years, a number of vaccines that are currently undergoing clinical trials are anticipated to be released; these vaccines may need extremely cold storage and transportation of raw materials.
𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐀𝐭𝐭𝐚𝐢𝐧𝐞𝐝 𝐔𝐒$ 𝟐𝟎𝟕.𝟖𝟒 𝐌𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝐑𝐞𝐯𝐞𝐧𝐮𝐞
Due to the region’s advanced healthcare systems, significant R&D efforts, and well-known manufacturers, North America has dominated the Ultra-Low Temperature (ULT) Freezers market. The market in North America generated significant revenue in 2022 of US$ 207.84 million, and it is anticipated that this market will continue to dominate the market registering a Compound Annual Growth Rate (CAGR) of 2.3%.
Many of the largest end users of ULT freezers, such as hospitals, research facilities, biotech corporations, and pharmaceutical companies, are based in North America. Government assistance and expanding research and development efforts on cell-based treatments and vaccines are anticipated to accelerate market expansion. For instance, Jubilant HollisterStier earned a USD 23.8 million Strategic Innovation Fund from the Canadian government in March 2023 as part of its commitment to increase both its annual fill and finish capacity and its capacity for a variety of vaccines, including mRNA.
𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐌𝐨𝐫𝐞 𝐅𝐮𝐥𝐥 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/industry-report/ultra-low-temperature-freezers-market
Due to the presence of multiple top ULT freezer manufacturers, North America is a center for supply and innovation in this market. These businesses gain from being close to their largest customers, which enables a better understanding of customer needs and quicker service. For instance, ThermoFisher Scientific declared in October 2022 that their ultra-low temperature (ULT) green line would now include the ThermoScientific TDE Series -80°C Chest Freezer.
Numerous businesses compete in the analyzed market, which is moderately competitive. Thermo Fisher Scientific, Inc., Haier Biomedical, Eppendorf SE, and others are some of the prominent companies active in the sector.
A market leader in the life sciences sector, Eppendorf creates, produces, and sells lab supplies all over the world. The product portfolio is divided into four primary groups: liquid handling, consumables, separation and instrumentation, and bioprocess & workflow solutions. Eppendorf offers a wide range of premium-quality consumables as well. The pharmaceutical, biotech, chemical, and food industries are just a few that use products made by Eppendorf.
𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐚𝐫𝐞:
• Thermo Fisher Scientific Inc.
• Eppendorf AG
• Helmer Scientific
• Haier Biomedical
• Panasonic Healthcare Corporation
• Arctiko A/S
• Binder GmbH
• Esco Micro Pte Ltd.
• Stirling Ultracold
• So-Low Environmental Equipment Co.
• Bionics Scientific Technologies (P) Ltd.
• CoolSafe Superior
• Evermed S.R.L.
• Other Prominent Players
𝐓𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐮𝐥𝐭𝐫𝐚-𝐥𝐨𝐰 𝐭𝐞𝐦𝐩𝐞𝐫𝐚𝐭𝐮𝐫𝐞 𝐟𝐫𝐞𝐞𝐳𝐞𝐫 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐟𝐨𝐜𝐮𝐬𝐞𝐬 𝐨𝐧 𝐓𝐲𝐩𝐞, 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲, 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧, 𝐚𝐧𝐝 𝐑𝐞𝐠𝐢𝐨𝐧.
• Upright Ultra-Low Temperature Freezers
• Chest Ultra-Low Temperature Freezers
• Semi-Automated Freezers
• Automated Freezers
• Blood & Blood Products
• Forensic & Genomic Research
• North America
o The U.S.
• Western Europe
o Rest of Western Europe
• Eastern Europe
o Rest of Eastern Europe
• Asia Pacific
o Australia & New Zealand
o South Korea
o Rest of Asia Pacific
• Middle East & Africa (MEA)
o Saudi Arabia
o South Africa
o Rest of MEA
• South America
o Rest of South America
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/ultra-low-temperature-freezers-market
𝐀𝐛𝐨𝐮𝐭 𝐀𝐬𝐭𝐮𝐭𝐞 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐚:
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