Ultra-low temperature freezers (ULT freezers) are among the most crucial pieces of equipment used in the healthcare sector to preserve biological samples, drugs, pathogens, and others. ULT freezers are designed to operate between -460C and -860C. Thus, ultra-low temperature freezers have become highly popular in the medical and R&D sectors to effectively preserve drugs, body organs, and blood samples, among others. Rising incidences of cancer and other infectious diseases are one of the prominent factors stimulating market growth.
According to product type, the market is segmented into chest and upright ultra-low temperature freezers. Upright freezers dominated the market in 2016, owing to their higher reliability and sophisticated design. Industry players are concentrating more on reducing energy consumption and further enhancing product design. Subsequently, the segment would retain its dominance in the market over the forecast period. Cost-effectiveness, coupled with the high storage capacity provided by chest freezers, is estimated to ensure high segment growth worldwide during the forecast period. However, high energy consumption and manufacturing costs are some of the challenges facing the market.
Rising investment in life science research and the development of orphan drugs is boosting the growth of the ULT freezers market. With the presence of organizations (including Bill and Melinda), funding for effective research to cure widespread diseases is further expected to drive the ULT market in the coming years. Technological advancement in ULT freezers, including mobility, natural refrigerants, and provisions for maintaining temperature uniformity, has ensured strong penetration of this equipment across the world.
One of the most promising factors influencing demand for ultra-low temperature freezers is the growing adoption of personalized medicines. Similarly, the rising demand for high-value pharmaceutical storage from hospitals, blood banks, and research and academic institutes is another important factor supporting market growth. One of the additive factors driving the market growth is the presence of a microprocessor control panel coupled with air filters. Furthermore, increased awareness of blood donation camps and organ donation has contributed significantly to the growth of the ULT freezer market.
The following are the primary drivers of ultra-low-temperature freezers:
rising prevalence of chronic diseases
Universal demand for high-efficiency products
Growing investments in life science research
growing emphasis on temperature uniformity
The following are the major limitations of ultra-low temperature freezers:
- High initial costs and expensive maintenance
The global ultra-low temperature freezer market is segmented on the following basis:
- Chest freezers
- Upright freezers
- Blood and blood products
- Pharmaceutical Manufacturing
- Academic and Research Institutes
- Forensic and genomic research
- North America
- Rest of Europe
- South Asia
- Rest of Asia Pacific
Rest of the World (RoW)
- Middle East and Africa
- Latin America
Key players identified for the ultra-low temperature freezer market include, but are not limited to:
Eppendorf AG, Antech Group, Inc., Helmer Scientific, Panasonic Healthcare Co., Ltd., Thermo Fisher Scientific, Inc., Arctiko A/S, Bionics Scientific Technologies Pvt. Ltd., GlenDimplex Company, Haier Biomedical, LABCOLD Ltd., and others