Global Ultra-low Temperature Freezers Market – Snapshot
The global ultra-low temperature freezers market was valued at US$ 500.0 Mn in 2017 and is projected to expand at a CAGR of 5.0% from 2018 to 2026 to reach US$ 800.0 Mn in 2026. Rise in demand for collection & preservation of rare and valuable biological samples for scientific research and future references is projected to drive adoption of ultra-low temperature (ULT) freezers. 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. This is expected to drive demand for their safe and long-term preservation, thereby creating demand for advanced ULT freezers. Lower replacement rate owing to long life of ULT freezers and practice of shared facilities are the key areas of concern.
In terms of product, the upright freezers segment accounted for leading share of the global ultra-low temperature freezers market in 2017. The segment is likely to continue to dominate the market during the forecast period. Floorstanding upright freezers offer large storage capacity and lower footprint, easy access to samples, and are witnessing rapid advancements. This has contributed to the high adoption of these freezers. Chest freezers are more energy efficient and recommended for long term preservation. High footprint and difficulty in accessing samples are the key concerns in their adoption. In terms of application, the biological samples segment held major market share in 2017. Rise in number of biobanks and increase in demand for preservation of biological samples for scientific research and development of new therapeutics are anticipated to drive adoption of ULT freezers during the forecast period. Unmet needs in rare disease therapeutics and intense competition among pharmaceutical & biotechnology companies to develop and introduce new disease therapeutics are likely to increase the number of new drug molecules, drug excipients, and other drug compounds in the next few years. This is projected to propel the uptake of large capacity and advanced ULT freezers.
Based on end-user, the pharmaceutical & biotechnology companies segment accounted for major market share in 2017. Pharmaceutical & biotechnology companies are the key end-users of ULT freezers for preservation of disease biological samples and storage of drug compounds. Increase in the number of pharmaceutical & biotechnology companies in emerging economies and surge in R&D activities are anticipated to drive the adoption of ULT freezers during the forecast period. Biobanks is expected to be the second leading segment of the global ultra-low temperature freezers market. Rise in demand for personalized medicines and new therapeutics is augmenting the biobanking industry. Increase in sample volume for storage has driven the number of private biobanks for the storage of cord blood stem cells, tissue, and organs. Surge in public & private funding for biobanks is likely to augment the global ultra-low temperature freezers market.
In terms of region, North America accounted for significant share of the global ultra-low temperature freezers market in 2017 and the trend is projected to continue during the forecast period. North America has large number of biobanks and pharmaceutical & biotechnology companies. High adoption of technologically advanced ULT freezers, stringent regulations for replacement of these freezers, and high cost are anticipated to contribute to North America’s high share of the market. The market in Asia Pacific is expected to expand at a rapid pace during the forecast period driven by increase in purchasing power, rise in the number of pharmaceutical & biotechnology companies, and surge in public & private sector funding for scientific research.
Prominent players operating in the global ultra-low temperature freezers market include Thermo Fisher Scientific, Inc., PHC Holdings Corporation (Panasonic Biomedical), Haier Biomedical, Eppendorf AG, Arctiko A/S, Helmer Scientific, Abzil Telstar S.L., Labcold Ltd., Bionics Scientific Technologies (P) Ltd., and Global Cooling, Inc. Thermo Fisher Scientific offers one of the industry leading and widest range of ULT freezers and has strong presence in the global market. Panasonic Biomedical and Haier Biomedical are leading players in their respective domestic markets, Japan and China. These players also account for significant share of the global market. These key players emphasize on development and introduction of new and advanced ULT freezers to remain competitive in the market. Moreover, there are several players at regional level who compete on pricing. Post sales services and support is one of the key differentiating criteria among the key players.
Global Ultra-low Temperature Freezers Market: Overview
This report analyzes the current and future scenario of the global ultra-low temperature freezers market. Ultra-low temperature freezers are one of the critical storage and preservation devices in the life sciences and material sciences industries. Biological samples and other valuable compounds and specimen are stored in ULT freezers at temperatures ranging from -41 °C to -150 °C for long term preservation. Increase in demand for preservation of biological sample, drug compounds, botanical & plant samples, etc. for scientific research is projected to drive demand for ULT freezers during the forecast period.
This report on the global ultra-low temperature freezers market comprises an elaborate executive summary, including a market snapshot that provides information about various segments of the market. The report also provides information and data analysis of the global market with respect to its segments based on product, degree of cooling, application, end-user, and region. A detailed qualitative analysis of drivers, restraints, and opportunities of the market has been provided in the overview section. Additionally, the market outlook section offers key insights of the global market such as winning imperatives based on top 3 players, key brand/product analysis, and industry & technological developments. The competition landscape section comprises a competitive matrix and company profiles with a business overview to project the competitive landscape of the market. It also provides market attractiveness analysis in terms of region and key strategies adopted by players, thereby presenting a thorough analysis of the overall competitive scenario prevailing in the global ultra-low temperature freezers market.
Global Ultra-low Temperature Freezers Market: Key Segments
Based on product, the global ultra-low temperature freezers market has been segmented into upright freezers (floorstanding freezers and benchtop/undercounter freezers) and chest freezers. In terms of degree of cooling, the market has been classified into -41 °C to -86 °C freezers and -87 °C to -150 °C freezers. Based on application, the global ultra-low temperature freezers market has been categorized into blood & blood products, biological samples, flammable materials, drug compounds, and others. In terms of end-user, the market has been divided into biobanks, pharmaceutical & biotechnology companies, academic research institutes, and others. The global ultra-low temperature freezers market has been analyzed based on technology trends, expenditure on emerging technologies, and presence of key players in the region. Market size and forecast for each of these segments and their sub-segments have been provided for the period from 2016 to 2026, along with respective CAGRs for the forecast period from 2018 to 2026, considering 2017 as the base year.
Global Ultra-low Temperature Freezers Market: Regional Outlook
In terms of region, the global ultra-low temperature freezers market has been segmented into five major regions: North America (the U.S. and Canada), Europe (the U.K., Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (China, India, Japan, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa (GCC Countries, South Africa, and Rest of Middle East & Africa). Market size and forecast for each of these regions and their key countries have been provided for the period from 2016 to 2026, along with their respective CAGRs for the forecast period 2018-2026, considering 2017 as the base year. This report also covers the competitive scenario of the market in these regions.
Companies Mentioned in Report
The report profiles major players operating in the global ultra-low temperature freezers market in terms of attributes such as company overview, financial overview, product portfolio, business strategies, recent developments, and SWOT (strength, weakness, opportunity and threat) analysis. Major companies profiled in this report are Thermo Fisher Scientific, Inc., PHC Holding Corporation (Panasonic Biomedical), Haier Biomedical, Eppendorf AG, Helmer Scientific, Labcold Ltd. Bionics Scientific Technologies (P) Ltd., Arctiko A/S, Azbil Telstar S.L., and Global Cooling, Inc.
The global ultra-low temperature freezers market has been segmented as follows:
Global Ultra-low Temperature Freezers Market, by Product
- Upright Freezers
- Floorstanding Freezers
- Benchtop / Undercounter Freezers
- Chest Freezers
Global Ultra-low Temperature Freezers Market, by Degree of Cooling
- -41°C to -86°C Freezers
- -87°C to -150°C Freezers
Global Ultra-low Temperature Freezers Market, by Application
- Blood & Blood Products
- Biological Samples
- Flammable Materials
- Drug Compounds
- Others (botanical & plant samples, forensic specimens, etc.)
Global Ultra-low Temperature Freezers Market, by End-user
- Pharmaceutical & Biotechnology Companies
- Academic Research Institutes
Global Ultra-low Temperature Freezers Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa