Ultra-Low Temperature Freezers Global Market Report 2021: COVID-19 Implications And Growth
The Business Research Company’s Ultra-low Temperature Freezers Global Market Report 2021: COVID-19 Implications And Growth
LONDON, GREATER LONDON, UK, March 1, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact:
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The COVID-19 outbreak is propelling the growth of the ultra-low temperature freezer market. Scientists have created vaccines, and have been depending on ultra-low temperature freezers and incubators to retain novel coronavirus samples so that they can be recovered whenever appropriate so as to be examined to gain insight into this respiratory illness. For example, the BINDER CO2 freezer is helping researchers and scientists to retain coronavirus samples. These freezers are important because they provide protection and anti-contamination features. Therefore, the COVID-19 outbreak contributed to the growth of the ultra-low temperature freezer market.
However, the global ultra-low temperature freezers market size is expected to grow from $633.94 million in 2020 to $805.47 million in 2021 at a compound annual growth rate (CAGR) of 27.06%. The market is expected to reach $1 billion in 2025 at a CAGR of 5.7%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. North America has the largest ultra-low temperature freezers market share. The other regions covered in the global ultra-low temperature freezers market are Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
The ultra-low temperature freezers market covered in this report is segmented by type into chest freezers, upright freezers; by application into blood & blood products, organs, pharmaceuticals, forensic, genomic research; by end-user into bio-banks, pharmaceutical and biotechnology companies, academic and research laboratories, others.
Major companies operating in the ultra-low temperature freezers sector are focusing on developing technology advanced solutions for ultra-low temperature freezers. For example, in May 2020, Thermo Fisher Scientific, a US-based biotechnology company, launched a new service that gathers and tracks key performance data from the attached TSX Series ULT freezers to provide an optimum sample and product safety. The Thermo Scientific smart connected systems function tracks 37 types of alarms and 26 operational parameters for the user to provide a detailed analysis of the linked TSX Series ULT freezers.
Other major players covered in the global ULT freezers market report are Arctiko, Eppendorf, Esco Micro Pte Ltd, Haier, Helmer Scientific, Bionics Scientific Technologies (P). Ltd, PHC Holdings Corporation, Labcold Ltd, Remi Group, Stirling Ultracold, Binder, VWR International, Global Coolin Inc.
Ultra-low Temperature Freezers Global Market Report 2021: COVID-19 Implications And Growth is one of a series of new reports from The Business Research Company that provides ultra-low temperature freezers market overview, forecast ultra-low temperature freezers market size and growth for the whole market, ultra-low temperature freezers market segments, and geographies, ultra-low temperature freezers market trends, ultra-low temperature freezers market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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