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Ultra-low Temperature Freezers Market size was valued around USD 150 million in 2016 and is anticipated to witness growth of over 4.5% CAGR from 2017 to 2024.

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ultra low temperature freezers market to surpass

Ultra-low Temperature Freezers Market to surpass $210Mn By 2024: Global Market Insights Inc.

Fuel Cell Market size worth $25.5bn by 2024

key insights from ultra low temperature freezers

KeyInsights from Ultra-low Temperature Freezers Market:

  • Ultra-low Temperature Freezers Market size is set to exceed USD 210 million by 2024; according to a new research report by Global Market Insights.
  • Increasing investment made by public as well as private players to accelerate drug discovery and development activities along with rising prevalence of infectious diseases and cancer stimulating demand for advanced treatment will drive ultra-low temperature (ULT) freezers market over the forecast timeframe.
  • Presence of organizations such as Bill and Melinda Gates Foundation, funding for developing effective treatment solutions for widespread diseases such as Malaria and tuberculosis will positively impact market growth as ULT freezers are used for storage of biological samples and high value pharmaceuticals, and medicines.
continued

Continued...

  • Technological advancements in ULT freezers including development of portable freezers, reduced energy consumption, natural refrigerant and provision of temperature uniformity will drive business growth. Growing demand for personalized medicines and rising investment towards development of orphan drugs will positively impact growth. Numerous initiatives undertaken by private players as well as government organization including U.S. Department of Energy (DOE) to increase adoption of ULT freezers in biobanks, hospitals, pharmacies and laboratories will fuel market growth.
  • Stringent regulations imposed by U.S. FDA and European Commission on medical devices coupled with high cost associated with ultra-low temperature freezers will hinder growth of ultra-low temperature freezers market over the forecast timeframe.
browse full market research report on ultra

Browse Full Market Research Report On Ultra-low Temperature Freezers Market @ https://goo.gl/cy9Gze

Request for a Sample of this Research Report @

https://www.gminsights.com/request-sample/detail/2403

360 analysis

360° Analysis

  • Application Trends
  • Blood and blood products segment accounted for largest market share in 2016. Growing adoption of ultra-low temperature freezers for storing white blood cells, red blood cells, and plasma products will drive market growth. Growing awareness about blood donation through campaigns and other initiatives undertaken by private and public players will drive industry growth.
  • Regional Trends
  • U.S. dominated North America ultra-low temperature freezers market in 2016 due to high adoption of ultra-low temperature freezers in laboratories and rising investment by private and public organizations towards new drug development and other research activities. Numerous efforts undertaken by U.S. Environmental Protection Agency (EPA's) and U.S. Department of Energy (DOE) to augment adoption of ULT freezers will drive market growth over the forecast timeframe.
  • Competitive Market Share
  • Few players of global ultra-low temperature freezers market are Eppendorf AG, Helmer Scientific, Haier, Panasonic Healthcare, Thermo Fisher Scientific and Binder. Industry players are adopting inorganic growth strategies such as acquisition, partnerships and strategic collaboration to broaden their existing business portfolio as well as sustain market position.
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