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.
Dubai, UAE -- (SBWIRE) -- 11/17/2020 -- 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.
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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.
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).
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