Pune, Jan. 14, 2021 (GLOBE NEWSWIRE) -- The global ultra-low temperature freezer market is set to gain impetus from the increasing support of the government to conduct advanced research in the field of life science. This information is published by Fortune Business Insights™ in a new report, titled, “Ultra-Low Temperature Freezer Market Size, Share & COVID-19 Impact Analysis, By Type (Chest and Upright), By Capacity (Less than 300 Liters, 301-500 Liters, 501-700 Liters, 701-900 Liters and More than 900 Liters), By Application (Bio Banks & Hospitals, Academic & Research Laboratories and Others) and Regional Forecast, 2020-2027.” The report further states that the ultra-low temperature freezer market size was USD 547.0 million in 2019 and is projected to reach USD 783.1 million by 2027, exhibiting a CAGR of 4.6% during the forecast period.
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COVID-19 Pandemic to Affect Growth Positively Owing to Rising Number of Bio Banks
The outbreak of the COVID-19 pandemic has disrupted the supply chain, thereby obstructing production. But, the pandemic is likely to affect growth positively because of the increasing number of plasma treatment providers and bio banks worldwide. ULT freezers are therefore being demanded more to prevent transmission of the virus.
How Did We Create This Report?
As customer expectations are changing, the aspirations of dealers are also changing at a fast pace. Distribution channels are becoming complicated. To provide our clients with detailed information, we have conducted extensive primary and secondary research. We have thoroughly investigated each opportunity qualitatively and quantitatively so that our clients get a complete picture of both emerging and existing opportunities. We have also conducted a techno-economic study.
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Drivers & Restraints-
Rising Awareness about Blood Donation Camps to Augment Growth
The high demand for pharmaceuticals storage equipment from hospitals, research and academic institutes, and blood banks is set to propel the ultra-low temperature freezer market growth in the coming years. Apart from that, the increasing awareness of blood donation camps and organ donation practices in emerging countries would also contribute to growth. However, ULT freezers require regular maintenance to operate smoothly. Therefore, it needs high cost spending, thereby hampering growth.
Segment-
Bio Banks & Hospitals Segment Held 51.5% Share Stoked by Need to Store Plasma
Based on application, the bio banks and hospitals segment earned 51.5% in terms of the ultra-low temperature freezer market share in 2019. It is anticipated to grow substantially in the near future backed by the rising usage of ULT freezers for storing plasma, red blood cells, white blood cells, and other blood components.
Regional Analysis-
North America to Remain at Forefront Owing to Presence of Major Companies
Geographically, in 2019, North America earned USD 199.5 million in terms of revenue and is likely to remain in the dominant position throughout the forthcoming years. This growth is attributable to the presence of various prominent ultra-low temperature freezer manufacturers in the region. Asia Pacific, on the other hand, is expected to grow significantly fueled by the rising number of biotechnology & pharmaceutical companies in the region.
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Competitive Landscape-
Key Players Focus on Acquisition Strategy to Compete with Their Rivals
The market for ultra-low temperature freezer houses numerous local and regional companies that are mainly engaging in the strategy of mergers and acquisitions to generate more sales. A few others are focusing on launching innovative ULT freezers to gain a competitive edge. Below are the two latest industry developments:
- March 2020: Eppendorf AG is planning to acquire Koki Holdings Co., Ltd.’s premium himac brand, as well as its centrifuge business. It will help the former to strengthen its position as one of the world’s leading producers of high-end centrifuges for life science and plasma industries. It will also help the company to broaden its centrifuge business.
- June 2019: PHC Holdings Corporation successfully acquired Thermo Fisher Scientific’s Anatomical Pathology business worth USD 1.14 billion.
A list of all the renowned ultra-low temperature freezer manufacturers in the market:
- Thermo Fisher Scientific Inc. (United States)
- PHC Holdings Corporation (United States)
- Eppendorf AG (Germany)
- Esco Micro Pte Ltd. (Singapore)
- Helmer Scientific (United States)
- Arctiko A/S (Denmark)
- BIONICS SCIENTIFIC TECHNOLOGIES (P) LTD. (India)
- Glen Dimplex (Ireland)
- Haier Biomedical (United Kingdom)
- LABCOLD (United Kingdom)
- BINDER GmbH (Germany)
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Major Table of Content:
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- PESTLE Analysis
- Porter’s Five Force Analysis
- Global Ultra-Low Temperature Freezer Market Share Analysis and Matrix, 2019
- Key Market Insights and Strategic Recommendations
- Profiles of Key Players (Would be provided for 10 players only)
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Employee Size
- Key Financials
- Past and Current Revenue
- Gross Margin
- Geographical Share
- Business Segment Share
- Recent Developments
- Overview
- Primary Interview Responses
- Annexure / Appendix
- Global Ultra-Low Temperature Freezer Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
- By Type (Value)
- Chest
- Upright
- By Capacity (Value)
- Less than 300 Litres
- 301-500 Litres
- 501-700 Litres
- 701-900 Litres
- More than 900 Litres
- By Application (Value)
- Bio Banks & Hospitals
- Academic & Research Laboratories
- Others (Pharmaceuticals, etc.)
- By Region (Value)
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
- By Type (Value)
- Global Ultra-Low Temperature Freezer Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
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