Key ultra-low temperature freezer (ULT) market players are focusing on growth prospects and technological progressions in upright ULT freezers, due to a swift increase in their demand, worldwide.
ROCKVILLE, MD / ACCESSWIRE / October 21, 2020 / 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.
Request a report sample to gain comprehensive market insights at
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.
Explore the Ultra Low Temperature Freezer market comprising of 183 figures and 176 data tables, along with the table of contents. You can find a detailed market segmentation on https://www.factmr.com/report/5115/ultralow-temperature-freezer-market
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).
Explore Wide-ranging Coverage of Fact.MR's Healthcare Landscape
Biomedical Refrigerators and Freezers Market: Find insights on biomedical refrigerators and freezers market with analysis of segments, statistics, influencers, market players, and business strategies adopted over the forecast period of 2017 to 2022.
Biobanking Market: Fact.MR's report on the biobanking market offers insights on the market during 2020-2027, including restraints, revenue sources, market leaders, and market strategies.
Viral Antigens Market: Read an analysis of the smart sports fitness tracker market with insights on growth factors, opportunities, restraints, regional market forecast, regulatory policies, and strengths of market leaders.
Fact.MR is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. Fact.MR is headquartered in Dublin, and has offices in Dubai. Fact.MR's latest market research reports industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
11140 Rockville Pike
Rockville, MD 20852
View source version on accesswire.com: