According to a research report titled ‘Global Ultra-Low Temperature Freezer Market Size study, by Product Type (Upright ULT freezers and Chest ULT freezers), by End User (Bio-Banks, Pharmaceutical and Biotechnology Companies, Academic and Research Laboratories and Others) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global ultra-low temperature freezer market is anticipated to record a healthy CAGR of over 3.9% during 2021-2027.  
 

Rising prevalence of infectious disease, in consort with requirement for storing vaccines and samples at safe temperature are driving the global ultra-low temperature freezer market. In this context, healthdata.org revealed in 2019 that 6 infectious diseases were among the top 10 causes of DALYs in children below ten years of age. 
 

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For the uninitiated, ultra-low temperature Freezers have a temperature range of -45°C to -86°C and their internal volume ranges from 300 to 800 liters. These freezers are majorly used by research companies to store chemicals, drugs, enzymes, viruses, bacteria, cell preparations, and other items.
 

Increasing strategies adopted by private firms for technology enhancements, favorable government initiatives for manufacturing and electronic verticals, and surging demand for chemicals are propelling the market expansion.
 

However, high cost of these freezers may stifle the industry outlook during the forecast period 2021-2027.
 

On the basis of product type, global ultra-low temperature freezer market is branched into chest ULT freezers as well as upright ULT freezers. Based on end user terrain, the industry is categorized into pharmaceutical & biotechnology companies, biobanks, academic & research laboratories, and others.
 

Considering geographical aspect, the report thoroughly analyzes the industry trends in Asia Pacific, North America, Europe, Latin America, and Rest of the World. Among these, North America holds a significant market share at present, owing to presence of several biobanks and biotechnology companies in the region as well as high adoption of advanced technological products.
 

Meanwhile, Asia Pacific market is expected to grow with a strong CAGR over 2021-2027, owing to rising production of medicines and pharmaceutical ingredients, supportive government policies to promote research activities, and growth in storage & preservation facilities in the region.
 

The key players in worldwide ultra-low temperature freezer marketplace are Thermo Fisher Scientific, Bionics Scientific Technologies (P) Ltd., Eppendorf AG, Helmer Scientific Inc., Panasonic Healthcare Holdings Co., Arctiko A/S, REMI Group, LABCOLD Ltd., Haier Biomedical, and GlenDimplex.