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Ultra-Low Temperature Freezer Market Forecast Showing 3.08% CAGR to 2021

Monday, April 10, 2017 7:20
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For overview analysis, the report introduces Ultra-Low Temperature Freezer Market basic information including definition, classification, application, industry chain structure, industry overview, policy analysis, and news analysis, etc. adds new global Ultra-Low Temperature Freezer market: report that lists top active companies as Eppendorf, Helmer Scientific, Panasonic Biomedical, and Thermo Fisher Scientific.

Other Prominent Vendors in the market are: ARCTIKO, AticoExport, Bionics Scientific Technologies, Glen Dimplex, Haier Biomedical, LABCOLD, Macro Scientific Works, REMI GROUP, Azbil Telstar, Vestfrost Solutions, and VWR (Supplier and manufacturer).

Research Analysts forecast the global Ultra-Low Temperature Freezer market to grow at a CAGR of 3.08% during the period 2017-2021.

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Commenting on the report, an analyst from team said: 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.

The listed pricing for this Ultra-Low Temperature Freezer Market report starts at $ 3500.
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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. For instance, ULT freezers in academia receive funding from non-profit organizations (charitable funding), central/state governments, and from companies (access and service fees). Thus, the product purchasing decision is restricted in most cases. Any revolutionary change in the product technology of ULT freezers will increase the total cost, which may eventually lead to lower adoption rates as many end-users may be deterred from purchasing these solutions. Similarly, end-users such as hospitals and diagnostic centers will either opt not to buy high-cost devices or delay their purchase.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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