Key ultra-low temperature freezer (ULT) market players are focusing on growth prospects and technological progressions in upright ULT freezers, due to a swift increase in their demand, worldwide.

ROCKVILLE, MD / ACCESSWIRE / October 21, 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

Competition Landscape

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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SOURCE: Fact.MR