Ultra-Low Temperature Freezers Market Overview:
According to the MRFR reports, the global Ultra-Low Temperature Freezers Market Growth is projected to acquire a market size of approximately USD 989.44 million and record a robust CAGR of 5.67% until 2027.
Ultra-low temperature freezers are the ones used for medicinal purposes. The global ultra-low temperature freezers market is primarily driven by the greater need for units that could effectively store drugs, bacteria, viruses, pieces of tissue, cellular solutions, enzymes, and other chemicals at extremely low temperatures. Furthermore, the factors such as heavy investments by major market players in research and development and continuous technological advancements are also anticipated to catalyze the market's growth over the forecasted era. However, the market growth is anticipated to be restricted by the stringent FDA regulations and the high cost of buying and maintenance.
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Ultra-Low Temperature Freezers Market Top Companies:
VWR International, LLC(US)
Thermo Fisher Scientific (US)
Eppendorf AG (Germany)
Stirling Ultracold (Greece)
PHC Corporation (US)
Arctiko (UK)
Helmer Scientific (US)
BINDER GmbH (Germany)
Labcold (UK)
Esco Micro Pte Ltd (US)
Ultra-Low Temperature Freezers Market Segmental Analysis:
The global ultra-low temperature freezers market is bifurcated into numerous segments based on type, temperature, application, end-user, and region.
Based on type, the global ULT freezers market is divided into chest and upright.
The global market is split into Negative 87-150 degrees Celsius and Negative 41-86 degrees Celsius by temperature.
Based on application, the global ULT freezers market is bifurcated into drug products, biological samples, blood and blood products, and others.
The global market is split into academic and research settings, hospitals and clinics, bio-banks, and others based on end-user.
Ultra-Low Temperature Freezers Market Regional Overview:
The global ultra-low temperature freezers market is studied across four major regions, including the Americas, the European Union, Asia-Pacific, Middle East and North Africa.
The American market for ultra-low temperature freezers has accounted for the maximum market share in 2019. The market was valued at USD 366.78 million in the same year and is anticipated to exhibit a healthy CAGR of over 5.35% during the review timeframe. The region is further divided into South and North America. The North American regional market is likely to lead globally due to overall spending and better infrastructure.
The European Union can be further segmented into Eastern Europe and Western Europe. The growth of the European regional market for ultra-low temperature freezers is being driven by a growing number of government initiatives to regulate the use of ULT freezers.
The Asia-Pacific regional market has recorded the fastest growth over recent times. The surge in the ULT market is caused by the governments' heavy investments in overall healthcare systems.
The ULT freezers market for the Middle East and North African region has been witnessing a record-worthy growth over the years owing to the growth of the information and examination business.
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