Ultra-Low Temperature Freezer Market to Reach $894.5M by 2034, Says Fact.MR

Asia Pacific will be a key market for ultra-low temperature freezer manufacturers due to rapidly rising healthcare expenditure in the region, says Fact.MR.

ROCKVILLE , MD, UNITED STATES, January 10, 2025 /EINPresswire.com/ -- Biobanks to Remain Leading Users of Energy-Efficient Ultra-Low Temperature Freezers: Fact.MR Report

According to the recently updated industry report by Fact.MR, a market research and competitive intelligence provider, the global ultra-low temperature freezer market is approximated at a value of US$ 581.6 million in 2024 and is projected to reach US$ 894.5 million by the end of 2034.

Ultra-low temperature freezers are exhibiting increasing demand in biobanks for the storage of biological samples. Biobanks collect and need to preserve biological samples for a long time. To ensure their safe storage, these banks use advanced biomedical refrigerators and freezers.

Increasing investments by public and private organization in the development of novel medications and therapeutics for effective healthcare are driving the sales of ultra-low temperature (ULT) freezers. The biobanking industry is set to expand rapidly in developing regions such as Asia Pacific, Latin America, and MEA. Rising prevalence of chronic disorders and infectious diseases is further driving up the need for ultra-low temperature freezers and refrigerator vans for the effective storage and transport of vaccines and drugs.

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Key Takeaways from Market Study

Global demand for ultra-low temperature freezers is foreseen to increase at a CAGR of 4.4% from 2024 to 2034.
The United States is projected to hold 45.6% share of the North American market by 2034.
Sales of ultra-low temperature freezers in Japan are estimated at US$ 37.6 million in 2024.
The Canada market is forecasted to register a CAGR of 4.9% through 2034.
Chest ultra-low temperature freezer sales are calculated to reach US$ 466.1 million by 2034.

“High need for the preservation of gamete cells such as sperms and eggs, cord blood stem cells, and other tissues driving up the adoption of innovative ultra-low temperature freezers,” says a Fact.MR analyst.

Competitive Analysis

Leading manufacturers of ultra-low temperature freezers are Haier Biomedical, Thermo Fisher Scientific, Arctiko A/S, Eppendorf AG, Panasonic Healthcare Corporation, BINDER GmbH, and Azbil Corporation. Companies are constantly investing in R&D for the development of advanced ultra-low temperature freezers. To increase their product offerings and market reach, they are adopting strategies such as collaborations with research institutes and technological partnerships with other market players.

New companies entering the market should focus on introducing novel ultra-low temperature freezing technologies. They can also concentrate on target marketing to make a market in this business landscape.

In September 2023, The Biomedical Division of Tokyo-based PHC Holdings Corporation (formerly Panasonic Healthcare Holdings) introduced a -85℃ultra-low temperature freezer operating on hydrocarbon refrigerants.

Growth Drivers for Ultra-Low Temperature Freezer Market

Rising Demand for Biopharmaceuticals and Vaccines: The growing production and storage needs for biopharmaceuticals, vaccines, and advanced therapies like cell and gene therapies are driving the adoption of ultra-low temperature (ULT) freezers.

Increasing Research and Development in Life Sciences: The surge in R&D activities, particularly in drug discovery, genetic research, and biotechnology, necessitates reliable ULT storage solutions for preserving sensitive biological samples.

Growing Biobanking Applications: Expanding biobanking activities for storing DNA, RNA, plasma, and tissue samples in academic, clinical, and pharmaceutical sectors are fueling demand for ULT freezers.

Technological Advancements in Freezers: Innovations like energy-efficient designs, improved cooling technologies, and digital monitoring systems are making ULT freezers more reliable and user-friendly, increasing their appeal in the market.

Rising Focus on Sustainability: Growing awareness about reducing environmental impact has led to the development of eco-friendly ULT freezers with lower energy consumption and the use of environmentally safe refrigerants.

Expansion of Pharmaceutical Manufacturing and Clinical Trials: The global growth in pharmaceutical production and clinical trials, particularly in emerging economies, is driving the need for advanced cold storage solutions.

Government Initiatives and Funding: Supportive government programs for healthcare infrastructure and research are encouraging the adoption of high-performance ULT freezers in public and private sectors.

Stringent Regulatory Requirements: Regulations emphasizing the preservation of biological samples under controlled conditions to ensure their integrity are pushing the adoption of advanced ULT freezers in laboratories and healthcare facilities.

Growth in Personalized Medicine: The increasing focus on personalized medicine, which requires precise storage conditions for unique biological materials, is boosting the demand for ULT freezers.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the ambulance cot market, presenting historical demand data (2018 to 2023) and forecast statistics for the period (2024 to 2034).

The study divulges essential insights into the market based on product (emergency cots, transport cots), technology (manual cots, pneumatic cots, electric cots), and end user (EMS service providers, hospitals, ambulatory service centers), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).

Checkout More Related Studies Published by Fact.MR Research:

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Freeze and Thaw System Market: The freeze and thaw system market is growing as industries rely on these systems to maintain the stability of pharmaceutical and biotech products. They ensure safe storage, prevent degradation, and support sustainable practices, driving demand, especially with the rise of biologics and personalized medicines.

About Us:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.

With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay competitive.

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