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Ultra-low Temperature Freezers Global Market Report 2021: COVID-19 Implications And Growth

Ultra-low Temperature Freezers Global Market Report 2021: COVID-19 Implications And Growth

  • March 2021
  • 200 pages
  • ID: 6033663
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the ultra-low temperature freezers market are Arctiko, Eppendorf, Esco Micro Pte Ltd, Haier, Helmer Scientific, Bionics Scientific Technologies (P). Ltd, PHC Holdings Corporation, Labcold Ltd, Remi Group, and Stirling Ultracold.

The global ultra-low temperature freezers market is expected to decline from $633.94 million in 2020 to $805.47 million in 2021 at a compound annual growth rate (CAGR) of 27.06%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $1 billion in 2025 at a CAGR of 5.7%.

The ultra-low temperature freezers market consists of sales of ultra-low temperature freezers by entities (organizations, sole traders, and partnerships) that manufacture ultra-low temperature freezers.Ultra-low temperature freezers are a form of a freezer that can keep temperatures between-80 and-86 degrees Celsius.

An ultra-low temperature freezer is also known as a minus 80 freezer or a negative 80 freezer. Only goods and services traded between entities or sold to end consumers are included.

The ultra-low temperature freezers market covered in this report is segmented by type into chest freezers, upright freezers; by application into blood & blood products, organs, pharmaceuticals, forensic, genomic research; by end-user into bio-banks, pharmaceutical and biotechnology companies, academic and research laboratories, others.

North America was the largest region in the ultra-low temperature freezers market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The high costs associated with ultra-low temperature (ULT) freezers are expected to hinder the growth of the ultra-low temperature freezers market in the coming years.Ultra-low temperature (ULT) sample storage freezers are a central component of a majority of labs, biobanks, and pharmacies around the world.

These units allow the medium to the long-term preservation of numerous biological samples, such as cell extracts, proteins, RNA, or DNA.A fixed temperature of -20 °C or -40 °C can be sustained by a regular upright mechanical freezer, but the majority would operate at -80 °C.

To maintain a lower temperature, a stable power source is required that leads to additional energy and operating costs.An upright, mechanical ULT freezer can fluctuate in average operating expenses from $750 to $1000 per year.

Therefore, the high costs associated with ultra-low temperature (ULT) freezers incurs huge operational costs that are difficult for small and medium enterprises and hampers the growth of the ultra-low temperature freezers market.

In June 2019, PHC Holdings Corporation, a Japan-based healthcare company acquired the anatomical pathology business of Thermo Fisher Scientific for $1.14 billion. The anatomical pathology business acquired by PHC Holdings Corporation will operate as a new stand-alone company under the name Epredia. The new company will continue to provide comprehensive solutions in the anatomical pathology field, including microscope slides, consumables, instruments. Thermo Fisher Scientific is a US-based biotechnology company engaged in manufacturing and selling ultra-low temperature freezers market.

The COVID-19 outbreak is propelling the growth of the ultra-low temperature freezer market in the coming years.Scientists are trying hard to create a vaccine and depending on ultra-low temperature freezers and incubators to retain novel coronavirus samples so that they can be recovered whenever appropriate and examined to gain insight into this emerging respiratory illness.

For example, the BINDER CO2 freezer is helping researchers and scientists to retain coronavirus samples.These freezers are important because they provide protection and anti-contamination features.

Therefore, the COVID-19 outbreak contributed to the growth of the ultra-low temperature freezer market.

Major companies operating in the ultra-low temperature freezers sector are focusing on developing technology advanced solutions for ultra-low temperature freezers.For example, in May 2020, Thermo Fisher Scientific, a US-based biotechnology company, launched a new service that gathers and tracks key performance data from the attached TSX Series ULT freezers to provide an optimum sample and product safety.

The Thermo Scientific smart connected systems function tracks 37 types of alarms and 26 operational parameters for the user to provide a detailed analysis of the linked TSX Series ULT freezers.

The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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