Ultra-low Temperature Freezers Market to Reach US$ 738.6 Mn by 2031: TMR Study

The global ultra-low temperature freezers market, valued at US$ 477.9 Mn in 2021, is projected to grow at a CAGR of 4.5% from 2022 to 2031, reaching over US$ 738.6 Mn by 2031. Analysts predict a surge in market demand driven by increased investment in drug development, as ultra-low temperature freezers are crucial for storing samples at specific temperature ranges.

Advancements in drug discovery and clinical testing, coupled with rising incidences of diseases like cancer, are key growth drivers. The availability of ultra-low temperature freezers has significantly expanded vaccine storage capacity, facilitating global vaccine distribution. Market players are launching new products to bolster their market share in this growing segment. Ultra-low Temperature (ULT) freezers, also known as -80 freezers, are crucial in the life sciences sector for long-term storage of biomolecules. Operating between -40°C to -86°C (-40°F to -123°F), they prevent denaturation of biomolecules like oligonucleotides and proteins.

Featuring dual doors for temperature stability, an inner door minimizes heat influx, while exterior knobs and silicone gaskets ensure tight sealing. With polyurethane walls providing effective insulation, ULT freezers safeguard stored samples from external environmental conditions. Growth in Biobanking Sector Driving Global Ultra-low Temperature Freezers Market Size Blood banks play a crucial role in collecting, preserving, and distributing valuable biological samples for scientific research in both public and private sectors.

Investments in new therapies are on the rise to address healthcare gaps. The biobanking sector is poised for significant growth, especially in developing regions like Asia Pacific and Africa, owing to their genetic and biodiversity. Increased R&D investment in chronic diseases is expected to fuel growth in these regions. While public biobanks dominate, private ones are growing due to rising demand for preserving stem cells, gamete cells, and tissues.

Key Players

Thermo Fisher Scientific, Inc., Eppendorf AG, PHC Holdings Corporation (Panasonic Healthcare), Azbil Telstar, S.L., Arctiko A/S, Labcold Ltd., Bionics Scientific Technologies (P) Ltd., Haier Biomedical, Global Cooling Inc., and Helmer Scientific

Market Segmentation

• Product

  • Upright Freezers
    • Floorstanding
    • Benchtop/Undercounted
  • Chest Freezers

• Degree of Cooling

  • -41°C to -86°C Freezers
  • -87°C to -150°C Freezers

• Application

  • Blood & Blood Products
  • Biological Samples
  • Flammable Materials
  • Drug Compounds
  • Others

• End-user

  • Biobanks
  • Pharmaceutical & Biotechnology Companies
  • Academic Research Institutes
  • Others

Market Drivers and Challenges

Drivers

• Growing demand for biological sample preservation.
• Advancements in medical research and biotechnology.
• Rising investments in healthcare infrastructure.
• Increasing prevalence of chronic diseases.
• Expansion of the pharmaceutical sector.

Challenges

• High initial investment and maintenance costs.
• Technical complexities associated with ultra-low temperature storage.
• Stringent regulatory requirements for cold chain logistics.
• Limited availability of skilled professionals for freezer maintenance.

Key Developments

• In June 2022, Haier Biomedical, a global innovative life science and medical digital service ecosystem brand, launched the DW-86L828ST new-generation ULT freezer, which integrates TwinCool technology, Frequency Conversion technology, and Hydrocarbon energy-saving technology
• In June 2021, Thermo Fisher Scientific launched its advanced TSX Series ULT Freezers, which are the only systems to offer an exterior illumination option that simplifies usage by enabling quick visual inspection of the freezer’s health status. The systems also include an enhanced cloud-connected monitoring functionality and a frost management capability, which features an adjustable cabinet heater that minimizes frost and ice build-up.
• In February 2021, Godrej Appliances launched new ultra-low temperature freezers for vaccine storage. These advanced medical freezers can preserve life-saving medical supplies, including critical vaccines, below -80°C and are aimed at boosting both Indian and global medical cold chains.

Regions Covered

North America(USA, Canada and Mexico) Europe(UK, Germany, France and the Rest of Europe) Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region) South America(Brazil, Argentina and the Rest of South America) Middle East and Africa(GCC and Rest of the Middle East and Africa)

Future Outlook

The ultra-low temperature freezers market is expected to witness sustained growth in the coming years, driven by technological advancements, increasing research activities, and the expanding pharmaceutical and biotechnology sectors. Moreover, the growing emphasis on precision medicine and personalized therapies will further fuel the demand for ultra-low temperature storage solutions.

Key Market Study Points

• Market size and growth projections.
• Regional analysis highlighting key growth regions.
• Segment-wise analysis based on service type, sourcing type, application, industry vertical, and region.
• Market drivers, challenges, and trends shaping the industry.
• Future outlook and growth opportunities.

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