According to the recent study the ultra-low temperature freezer market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 4% to 6% from 2023 to 2028. Growth in this market is primarily driven by increasing demand for pharmaceutical storage equipment in healthcare facilities, government support for research and development in life science and healthcare industries, and rising number of bio-banks and plasma treatments facilities.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in ultra-low temperature freezer market by product type (upright ULT freezer and chest ULT freezers), capacity(less than 300 liters, 301-500 liters, 501-700 liters, 701-900 liters , and more than 900 liters), application(blood blood products, flammable materials, biological samples, drug compounds and others), end use industry (bio-banks hospitals, pharmaceutical and biotechnology companies, academic and research laboratories and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Upright ULT freezer market is expected to remain the largest segment during the forecast period.”
Based on product type, the ultra-low temperature freezer market is segmented into upright ULT freezer and chest ULT freezers. Lucintel forecasts that the upright ULT freezer market is expected to remain the largest segment due to its large storage capacities and ease of use and cost-effectiveness.
“Within the ultra-low temperature freezer market, the bio-banks hospitals segment is expected to remain the largest end use industry”
Based on end use industry the bio-banks hospitals segment is expected to witness the highest growth over the forecast period due to the rising collection of bio samples, increasing number of biobanks, increasing genomic research activities, and growing trend of conserving cord blood stem cells.
“North America will dominate the ultra-low temperature freezer market in near future”
North America will remain the largest region due to large number of healthcare services, huge storage demand, repository and presence of key players.
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Major players of ultra-low temperature freezer market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Eppendorf Ag, Helmer Scientific, Panasonic Healthcare Corporation, Thermo Fisher Scientific, Arctiko A/S, Bionics Scientific Technologies (P) Ltd, and Glen Dimplex are among the major ultra-low temperature freezer providers.
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