Ultra-low Temperature Freezer Market Forecast to 2024 - COVID-19 Impact and Global Analysis by End-user and Geography

·5-min read

The ultra-low temperature freezer market is expected to grow by USD 184.57 million, progressing at a CAGR of almost 5% during the forecast period.

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Technavio has announced its latest market research report titled Global Ultra-Low Temperature Freezer Market 2020-2024 (Graphic: Business Wire)

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The rising investments in life science research is one of the major factors propelling market growth. However, factors such as high costs of instruments will hamper the market growth.

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Ultra-low Temperature Freezer Market: End-user Landscape

The need for clinical specimens for translational research, particularly for cancer research, has increased the demand for biobanking. Biobanks require strong cold storage solutions as they are involved in the collection, preparation, processing, handling, recovery, storage, and distribution of tissue and cell samples for therapeutic and research purposes. The increase in collaborations between biobanks and research institutions will drive the demand for ultra-low temperature freezers to maintain and preserve samples that will enhance the development of quality solutions.

Ultra-low Temperature Freezer Market: Geographic Landscape

North America was the largest ultra-low temperature freezer market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Recent advances in biotechnology and pharmaceutical research, growing focus on drug and vaccine discovery and development for treating various lifestyle diseases, and the presence of several vendors in the US offering a wide range of products will significantly drive ultra-low temperature freezer market growth in this region over the forecast period. 36% of the market’s growth will originate from North America during the forecast period. The US is a key market for ultra-low temperature freezers in North America. However, market growth in this region will be slower than the growth of the market in other regions.

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Companies Covered:

  • A/S Vestfrost

  • Bionics Scientific Technologies (P) Ltd.

  • Eppendorf AG

  • Esco Micro Pte. Ltd

  • Glen Dimplex Group

  • Haier Biomedical

  • Helmer Scientific Inc.

  • Panasonic Corp.

  • Thermo Fisher Scientific Inc.

  • VWR International LLC

What our reports offer:

  • Market share assessments for the regional and country-level segments

  • Strategic recommendations for the new entrants

  • Covers market data for 2019, 2020, until 2024

  • Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)

  • Strategic recommendations in key business segments based on the market estimations

  • Competitive landscaping mapping the key common trends

  • Company profiling with detailed strategies, financials, and recent developments

  • Supply chain trends mapping the latest technological advancements

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Key Topics Covered:

Executive Summary

Market Landscape

  • Market ecosystem

  • Value chain analysis

Market Sizing

  • Market definition

  • Market segment analysis

  • Market size 2019

  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five forces summary

  • Bargaining power of buyers

  • Bargaining power of suppliers

  • Threat of new entrants

  • Threat of substitutes

  • Threat of rivalry

  • Market condition

Market Segmentation by End-user

  • Market segments

  • Comparison by End-user

  • Biobanks - Market size and forecast 2019-2024

  • Hospitals and diagnostic centers - Market size and forecast 2019-2024

  • Others - Market size and forecast 2019-2024

  • Market opportunity by End-user

Customer Landscape

Geographic Landscape

  • Geographic segmentation

  • Geographic comparison

  • North America - Market size and forecast 2019-2024

  • Europe - Market size and forecast 2019-2024

  • Asia - Market size and forecast 2019-2024

  • ROW - Market size and forecast 2019-2024

  • Key leading countries

  • Market opportunity by geography

  • Market drivers

  • Market challenges

  • Market trends

Vendor Landscape

  • Vendor landscape

  • Landscape disruption

Vendor Analysis

  • Vendors covered

  • Market positioning of vendors

  • A/S Vestfrost

  • Bionics Scientific Technologies (P) Ltd.

  • Eppendorf AG

  • Esco Micro Pte. Ltd

  • Glen Dimplex Group

  • Haier Biomedical

  • Helmer Scientific Inc.

  • Panasonic Corp.

  • Thermo Fisher Scientific Inc.

  • VWR International LLC

Appendix

  • Scope of the report

  • Currency conversion rates for US$

  • Research methodology

  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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