LONDON--(BUSINESS WIRE)--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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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
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