According to the recent study titled ‘Ultra-low Temperature Freezers Market Size By Type, By Application, By Technology Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025’ available with Market Study Report, global ultra-low temperature freezers market is anticipated to accrue USD 315 million by the year 2025.

As per the report, increasing prevalence of critical diseases across the globe along with the rise in total number of road accidents and trauma cases are the key factors driving the growth of global ultra-low temperature freezers market. Moreover, an increase in geriatric population worldwide along with adoption of sedentary lifestyle has propelled the chances of diseases among people belonging to different age groups. Surging need for novel treatment mechanisms is accelerating the demand for ultra-low temperature freezers (ULTF).

Speaking of types of ultra-low temperature freezers, chest-freezers segment is expected to register a notable CAGR of close to 2% during the period of study. Larger usable space and rapid cooling are the key benefits of using chest freezers, supplementing the product demand.

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Considering the regional outlook, Asia Pacific ultra-low temperature freezers market is subjected to register accelerated growth during the period under consideration, on account of efforts made by the government to increase the number of blood and organ donations across the region. Large population base and the consequent probability of people suffering from diseases and experiencing chronic disorders such as cardiovascular disease, cancer and diabetes is complementing the need for safe, reliable and constant availability of blood and blood components. Growing awareness to improve the healthcare sector is driving foreign investments and technological advancements, hence impelling APAC industry. In the year 2018, Asia Pacific ultra-low temperature freezers market accounted for a revenue share of nearly 14.6%.

Recent advancements in the pharmaceutical and biotechnology sector is steering the ULTF industry. These freezers are extensively used to store biological samples like blood, medicines, and plasma. With the surge in discovery of viruses and other health conditions, the government is undertaking initiatives to increase the number of research projects in order to combat the disease spread. Market players are constantly focusing on the development of upgraded, technologically advanced ultra-low temperature freezers to ensure fast cooling and complete reliability along with maximizing their business profits.

Major market players include Haier, Helmer Scientific, Panasonic Healthcare, EVERmed, VWR International and ESCO MICRO among various others. Many business players are focusing on strategic alliances, partnerships and frequently introduce new products to achieve a competitive advantage. Eppendorf launched CryoCube F740 series in the year 2017 with improved efficiency and increased capacity.