The Ultra Low Temperature Freezer Market is used widely for the storage of blood & blood components, stem cells, vaccines, biosamples and other temperature sensitive materials at temperatures that range between -40°C and -86°C. Ultra low temperature freezers provide reliable cold storage for samples with precise temperature control and sample security. They have upright and chest styles to suit various laboratory needs. Chest freezers offer a large capacity in a compact footprint for maximized storage while upright freezers provide easy access and organization for frequently used samples.
The Global Ultra Low Temperature Freezer Market is estimated to be valued at US$ 1,178.2 Mn in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Ultra Low Temperature Freezer Market are Thermo Fisher Scientific Inc., Haier Biomedical , PHC Corporation, Eppendorf SE, Jubilant HollisterStier, Helmer Scientific, Global Cooling Inc., Arctiko A/S, Bionics Scientific Technologies (P) Ltd., Esco Micro Pte. Ltd., Labcold Ltd., Azbil Telstar, S.L., BINDER GmbH, B Medical Systems, Glen Dimplex Group (Labcold), NuAire, Inc. Thermo Fisher Scientific Inc. holds the major share in the market owing to its diverse product portfolio and global presence.
The growing demand for blood & blood components for transfusion procedures and rising stem cell therapies is driving the Ultra Low Temperature Freezer Market. A large number of diseases can only be treated by transfusing blood which increases the need for reliable cold storage of blood and its components. Moreover, the growing medical research on stem cell therapies also boosts the demand for preservation of stem cells in ultra low temperature freezers.
The Ultra Low Temperature Freezer Market Growth is expanding rapidly with growth in developed markets of North America and Europe and rising healthcare investments in emerging regions such as Asia Pacific and Latin America. Increasing pharmaceutical and biotech research activities in these emerging economies is propelling the adoption of ultra low temperature freezers.
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