Ultra-Low Temperature Freezer Market Size and Forecast (2020–2030), Global and Regional Share, Trend, and Opportunity Analysis
Coverage: Type (Chest Freezers and Upright Freezers), Application (Blood & Blood Products, Organ, Pharmaceuticals, Forensic and genomic Research, and Others), Technology (Semi-Automatic and Automatic), and Geography (North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa)
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The ultra-low temperature freezer market is divided on the basis of type, application, technology, and geography. The ultra-low temperature freezer market, by type, is bifurcated into chest freezers and upright freezers. The ultra-low temperature freezer market, by application, is segmented into blood & blood products, organs, pharmaceuticals, forensic & genomic research, and others. The market, by technology, is bifurcated into automatic and semi-automatic.
Based on geography, the ultra-low temperature freezer market is segmented into North America (US, Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, Southeast Asia, and Rest of Asia Pacific), the Middle East & Africa (UAE, Saudi Arabia, South Africa, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America). The increasing demand for biobanks brings transformative potential to the healthcare and economic systems of the US. However, the immediate focus of rapidly developing biobanks in the country is due to factors such as the need for disease understanding, drug discovery, and development. Besides, biobank research provides new insights into the genetic component of human disease, which focuses on developing an automated and more personalized approach to healthcare. Moreover, several market players in the US are focusing on offering a diversified, cutting-edge portfolio of biobanking products and services designed to accelerate lifesaving discoveries. The increasing number of business activities amongst market players are dynamically contributing to market growth. For instance, in November 2020, US states and cities hospitals are scrambling to buy ultra-cold freezers that can safely store Pfizer Inc’s PFE.N COVID-19 vaccine, ignoring advice from the U.S. Centers for Disease Control and Prevention (CDC) to hold off. The government in the country is focusing on attracting significant foreign investments and international players in the country, which will ultimately boost the growth of the Temperature Monitoring Systems Market during the forecast period. For instance, Mexico is seeking public input by 21 February on a proposal to establish new energy efficiency and safety requirements for self‑contained commercial refrigeration equipment, including vertical coolers with one or more doors, horizontal coolers, horizontal freezers (including medical equipment), vertical freezers (including medical equipment), closed showcases and ice bag preservers.
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