The global industrial (commercial) ultra-low temperature freezer market is segmented into capacity such as personal-sized and large capacity ultra-low temperature freezer. Among these segments, large-capacity ultra-low temperature freezer segment is expected to occupy the top position in industrial (commercial) ultra-low temperature freezer market during the forecast period. Increasing demand for large capacity ultra-low temperature freezer for mass preservation of personalized drugs, blood and other biological components is anticipated to foster the demand for large capacity commercial ultra-low temperature freezer over the forecast period.
Global industrial (commercial) ultra-low temperature freezer market is expected to flourish at a CAGR of 4.1% over the forecast period. Moreover, the global industrial (commercial) ultra-low temperature freezer market is anticipated to garner noteworthy revenue by the end of 2023. Increasing demand for blood and blood related disorders are increasing the demand for commercial ultra-low temperature freezer in blood banks.
North America accounted for the largest market share of industrial (commercial) ultra-low temperature freezer market in 2016. Moreover, North America is expected to continue its dominance over the forecast period owing to the advancement in healthcare facilities and favorable government regulations. Asia Pacific is forecasted to witness significant growth over the forecast period. This can be attributed to the expansion of bio banks, research laboratories and testing laboratories in the region. Further, government initiatives and regulations to develop healthcare infrastructure in the region is anticipated to positively impact the growth of the industrial (commercial) ultra-low temperature freezer market in the Asia Pacific region.
Government Initiatives & Regulations
Stringent government regulations to strengthen the healthcare sector are anticipated to drive the growth of industrial (commercial) ultra-low temperature freezer market. Further, government of developing nations are focusing towards the development of better healthcare facilities. This factor is expected to trigger the expand the market of industrial (commercial) ultra-low temperature freezer in the upcoming years.
Increasing Application of Ultra Low Temperature Freezers
Rising utilization of ultra-low temperature freezers for blood preservation and sample storage is driving the growth of the industrial (commercial) ultra-low temperature freezer market. Moreover, rising demand for personalized drug is expected to accelerate the growth of the ultra-low temperature freezer market. Further, expansion of forensic labs, research institutes, hospitals, blood banks across the globe are expected to fuel the growth of the industrial (commercial) ultra-low temperature freezer market.
Although, high cost of industrial (commercial) ultra-low temperature freezer and high maintenance cost are some of the factors that are likely to inhibit the growth of the global industrial (commercial) ultra-low temperature freezer market in the near future.
The report titled “Industrial/Commercial Ultra Low Temperature Freezer Market: Global Demand, Growth Analysis & Opportunity Outlook 2023” delivers detailed overview of the global industrial (commercial) ultra-low temperature freezer market in terms of market segmentation by product type, by capacity, by temperature range and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global industrial (commercial) ultra-low temperature freezer market which includes company profiling of Thermo Fisher Scientific Inc., Haier Biomedical, Eppendorf AG, Helmer Scientific, VWR Corporation, Arctiko A/S, Biomedical Solutions Inc., EVERmed S.R.L., Philipp Kirsch GmbH and Panasonic Healthcare Co., Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global industrial (commercial) ultra-low temperature freezer market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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