DUBLIN, April 25, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Ultra-Low Temperature Freezer Market 2017-2021" report to their offering.
Global Ultra-Low Temperature Freezer Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources.
The global ULT freezers market is growing moderately at a rate of 3.08%, which can be attributed to increased investments in R&D. Also, the market is driven by the expansion of end-user segments such as biobanks, hospitals and diagnostic centers, and others that use cold storage solutions such as ULT freezers to store a broad range of specimens and products such as tissue organs and pharmaceuticals under different low temperatures. One trend in market is increasing focus on expanding capacity and lowering footprint. There is a growing demand in the US for blood bank refrigerators with higher capacity and lower carbon footprint. With the increasing demand for storage space from end-users, vendors are increasingly expanding their equipment capacity to provide under-counter and upright blood bank equipment models.
For instance, Helmer Scientific, a key vendor in the market, offers the iB105, an under-counter blood bank refrigerator with a storage capacity of 66 blood bags (450 ml bags). Therefore, the increased storage capacity and lower footprints of newer products will encourage end-users to upgrade existing equipment. Similarly, in August 2016, Stirling Ultracold, a provider of ULT freezers for the biomedical sector, entered into a master supply agreement with Case Western Reserve University to assist it in advanced sustainable research by offering units of energy-saving ULT freezers with low carbon footprint. With a global awareness about lowering the carbon footprint and need to accommodate several specimens, vendors will focus extensively on providing advanced solutions.
According to the report, one driver in market is increasing investments in life science research. Growing investments in life science research, along with an increase in chronic diseases, fast-growing older population, population growth, growing life expectancy, and higher disposable income, are positively influencing the demand for blood bank refrigerators. Vendors are focusing on updating product technologies to keep up with the varying needs of researchers. ULT freezers remain a crucial element in the life sciences sector. Thus, the growth of the life sciences sector will propel the demand for ULT freezers during the forecast period.
The growth potential of this sector in terms of market size has driven many major vendors to continuously invest in increasing their new product pipelines while creating innovation and increasing their revenue streams. Emerging markets are likely to remain key growth regions during the forecast period. Although these markets are in their nascent stage in terms of growth and investment opportunities, several US-based life science companies are focusing on markets with unmet needs and significant access constraints, particularly in Africa and South America. M&As and divestiture activities will also play a key role in the growth and diversification prospects of these companies in emerging markets during the forecast period. Therefore, with an increase in the number of initiatives undertaken in the field of life sciences, there will be a significant demand for ULT freezers in the coming years.
Further, the report states that one challenge in market is high cost of equipment. The healthcare industry is stringently regulated worldwide. Manufacturers need to meet the compliance criteria at every stage of product development and management, which is often time-consuming and expensive. The funding and finance of ULT freezers vary from one region to another. For example, in the US, funding is mostly done by research councils (R&D funders and companies), governments, academia, companies, and non-profit organizations. Public biobanks, in general, depend on both government and external funding from a variety of sources.
- Helmer Scientific
- Panasonic Biomedical
- Thermo Fisher Scientific
Other prominent vendors
- Bionics Scientific Technologies
- Glen Dimplex
- Haier Biomedical
- Macro Scientific Works
- REMI GROUP
- Azbil Telstar
- Vestfrost Solutions
- VWR (Supplier and manufacturer)
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Segmentation by end-users
Part 07: Segmentation by geography
Part 08: Decision framework
Part 09: Drivers and challenges
Part 10: Market trends
Part 11: Vendor landscape
Part 12: Key vendor analysis
Part 13: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/l34jh9/global_ultralow
Laura Wood, Senior Manager
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SOURCE Research and Markets