The global Ultra-Low Temperature Freezers market was valued at US$ 867.77 million in 2019 and it is expected to reach US$ 1180.56 million by the end of 2026, growing at a CAGR of 4.00% during 2021-2026, according to the report published by QY Research.
Ultra-low Temperature Refrigerator typically has a temperature lower than -40℃ and are used for the storage of drugs, enzymes, chemicals, viruses, bacteria, cell preparations, and tissue samples, among others.
Advances in research and knowledgebase of various disease and disorder pathologies is resulting in the development of new therapeutics such as biological drugs, personalized medicines, and stem cell based therapies. Those researches need large amount of samples to support. Freezers are suitable for the storage of laboratory and clinical samples ,which will stimulate the ultra-low temperature freezers industry development.
Global Ultra-Low Temperature Freezers Market- Key Players
Thermo Fisher, PHC Holdings, Eppendorf, Haier, Binder, So-Low, IlShin, Zhongke Meiling, Froilabo, Nuaire, Daihan, Esco Global, GFL, VWR, Arctiko, Azbil Telstar, Operon, Nihon Freezer, Aucma, Coolingway, are key players functioning in the global Ultra-Low Temperature Freezers market. Thermo Fisher dominates the ultra-low temperature freezers market as the company accounted for 34.32% market share in 2019. Other players, such as PHC Holdings, Haier are followers.
Global Ultra-Low Temperature Freezers Market: Segmental Analysis
Upright Freezer and Chest Freezer are analyzed in the report. Upright freezers look a lot like refrigerators. They stand vertically and work in the same way that a fridge does to hold the items on the various shelves and compartments. While chest freezers sit horizontally on the floor and are deep in comparison to upright freezers. Presently, Upright Freezer owns dominant share with 71.57% in 2019.
Global Ultra-Low Temperature Freezers Market: Region Analysis
North America, Europe, Asia Pacific, Latin America, Middle East and Africa are analyzed in the report. Geographically, North America dominated the global laboratory freezers market in 2019. The large share of this region can be attributed to the presence of developed healthcare systems in the U.S. & Canada and growing R&D spending on pharmaceuticals & biotechnology in those regions.
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