According to this research, the rise of Ultra Low Temperature Freezers This year will be significantly different from the previous year. The Ultra Low Temperature Freezers market will grow at a CAGR 3.9% over the following five years.
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Samples in ultra-low temperature freezers are typically stored in polymer tubes or microtubes. Rising incidences of infectious diseases, cancer, and other chronic diseases have led to new drug discovery or development thereby stimulating demand for ultra-low temperature freezers (ULTF). Demand for ultra-low temperature freezers (ULTF) is high in the field of research and development and in the biobanks for the storage and protection of drugs, enzymes, chemicals, viruses, bacteria, cell preparations, and tissue samples. According to the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), more than 7,000 medicines are in development worldwide in the year 2017, 208 drugs for HIV/AIDS, 1,919 drugs for cancer, 401 drugs for diabetes and 563 drugs for cardiovascular diseases, etc. Advancement in drug discovery and clinical testing and rising incidences of cancer and other infectious diseases are the key driving factors in the ultra-low temperature freezers market.
Scope of the Report
Ultra-low temperature or ULT freezers are an extremely advanced system with temperature capacity ranging from -45C to -86C and the inner volume of the ULT freezers is in general between 300 and 800 liters. Ultra-Low Temperature Freezers Market is segmented by Product Type, By End User and Geography.
Key Market Trends
Upright Ultra-Low Temperature Freezers Segment is Expected to Hold a Major Market Share in the Ultra-Low Temperature Freezers Market
– Upright ultra low-temperature freezers (ULT freezers) typically have a temperature range of -40C to -86C and are used for the storage of drugs, enzymes, chemicals, viruses, bacteria, cell preparations, and tissue samples.
– According to the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), more than 7,000 medicines are in development worldwide in the year 2017, 208 drugs for HIV/AIDS, 1,919 drugs for cancer, 401 drugs for diabetes and 563 drugs for cardiovascular diseases, etc.
– In the year 2018, Upright ULT freezers hold a significant market share in the ultra-low temperature freezers market and are anticipated to show a similar trend over the forecast period.
– Technological advancements and high adoption of upright freezers along with enhanced accessibility and operation management are the key driving factors in the Upright Ultra-Low Temperature Freezers Segment.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America expected to hold a major market share in the global ultra-low temperature freezers market due to a large number of biobanks and pharmaceutical and biotechnology companies in this region. In the year 2017, accounting for a major share of the global ultra-low temperature freezers market and the trend is projected to continue during the forecast period. Furthermore, the high adoption of technologically advanced ultra-low temperature freezers and pharmaceutical companies on a large scale for drug discovery and clinical testing processes is fueling the growth of the overall regional market to a large extent.
The Ultra-Low Temperature Freezers Market is consolidated competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Thermo Fisher Scientific, Inc, PHC Holdings Corporation, Haier Biomedical, Arctiko A/S, Helmer Scientific, Eppendorf AG, Abzil Telstar S.L, Labcold Ltd, Bionics Scientific Technologies (P) Ltd, Global Cooling, Inc.
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Key highlights of the market report:
- Predictions for the markets and its sub-markets’ annual growth rates.
- The Covid-19 pandemic’s effect on the business vertical.
- Trends in the market.
- The advantages and disadvantages of indirect and overt distribution platforms.
- Distributors, traders, and sellers with a track record.
All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement, please check for with the sales team.
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