Albany, NY -- (SBWire) -- 08/23/2018 --Biomedical refrigerators and freezers constitute medical equipment that is specifically used to store biological samples, pharmaceuticals and biopharmaceuticals, medical supplies, enzymes, and blood products, among others. Ultra-low temperature (ULT) freezers are insulated cabinets that maintain temperatures ranging from around -70°C to -80°C and below. Ultra-low freezers are available in varying sizes: tabletop ULT freezers and under-bench ULT freezers. The market is witnessing a shift from traditional equipment to technologically advanced equipment.
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ULT equipment is ideally suited for use in hospitals, research laboratories, pharmacies, diagnostic centers, and blood banks. Newly introduced ULT freezers are unaffected by ambient temperature, prevent crystallization, reduce energy consumption, and minimize uneven temperature distribution within the chamber. For instance, Global Cooling, Inc. introduced the Stirling Ultracold SU780U ULT freezers, which eliminate the use of cascade compressors and feature an electrically driven free piston Stirling engine with helium as a working fluid for cooling. This technology enables users to save 35% to 45% of energy over other commercially available ULT freezers.
Increase in research activities in biopharmaceutical and pharmaceutical industries globally and rise in demand for biotechnological research and biological drugs are major drivers of the ultra-low temperature freezers market. Increase in demand for biopharmaceuticals and organ transplant, rise in government support for research activities and clinical trials, and technological advancements in biomedical refrigerators and freezers are expected to propel ultra-low temperature freezers market.
Focus on branding and commercialization of freezers, green technology-based freezers, and health care development in emerging economies are projected to create new opportunities in the global ultra-low temperature freezers market. In 2014, the U.S. Department of Energy published a report on the cost benefits of ULT freezers, in which it was stated that high-efficiency ULT freezers such as Revco (Thermo Fisher Scientific) and Stirring Ultracold (Global Cooling, Inc.) saved around 20%-66% more energy than traditional ULT freezers.
Manufacturers are introducing eco-friendly ULT freezers owing to the rise in inclination toward energy saving and minimization of CFCs. SANYO developed Green V.I.P. -80 °CULT freezers (MDF-U73VC, MDF-U53VC and MDF-U33V), which minimize the company's carbon footprint and provide maximum energy saving without compromising on performance. Thus, vendors in this space are sustaining themselves in this highly competitive market by offering freezers that provide precise temperature control, temperature uniformity, alarms, and other security features. However, high cost (average price of US$ 5,000- US$ 6,000 in Asia Pacific) and lack of awareness about ULT freezers in developing regions means that the use of ULT freezers in blood banks and hospitals is limited to the storage of virus and bacteria, enzymes, blood component additives, chemicals, and others. This restrains the ultra-low temperature freezers market.
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The global ultra-low temperature freezers market can be segmented based on type, end-user, and geography. Based on type, the global ultra-low temperature freezers market can be categorized into tabletop ULT freezers and under-bench ULT freezers. In terms of end-user, the ultra-low temperature freezers market can be classified into hospitals, research laboratories, pharmacies, diagnostic centers, blood banks, and others. Biomedical refrigerators and freezers such as ultra-low freezers and plasma freezers are being increasingly used by the life science and research communities due to the rising emphasis on the proper and accurate storage of biological samples, blood products, and medical supplies.
In terms of geography, the global ultra-low temperature freezers market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe are expected to hold a major share of the ultra-low temperature freezers market during the forecast period owing to highly developed health care infrastructure, presence of a large number of R&D institutes, and high adoption rate of advanced technologies. The market in Asia Pacific and Latin America is expected to expand in future due rising health care spending and improving health care infrastructure. Presence of emerging economies with rapidly developing R&D and medical tourism industries are expected to push demand for biomedical refrigerators and freezers in Asia Pacific.
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The rivalry in the global ultra-low temperature freezers market is high to moderate. The ultra-low temperature freezers market is fragmented in nature with a few large players holding substantial market share. Major market players in the global ultra-low temperature freezers market include Aegis Scientific, Inc., Newtronic Lifecare Equipment Pvt. Ltd., Thermo Fisher Scientific Inc., Eppendorf AG, Haier Biomedical, Panasonic Healthcare Co. Ltd., and Philipp Kirsch GmbH.
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Ultra-Low Temperature Freezers Market Analysis, Segments, Leading Player, Application & Forecast to 2026