Growing Demand for Blood & Blood Transfusion will Offer Lucrative Opportunities for Industry Players
Blood transfusion is considered as a supportive treatment for surgery, chemotherapy and organ transplantation, as well as the treatment of acute and chronic diseases. Blood loss is caused by a variety of diseases and situations. Anaemia affects 25% of the world's population or 1.6 billion people, according to the WHO. Each year, an estimated 1.2 million individuals die and 50 million are injured in traffic accidents around the world. Global demand for ULT freezers is expected to grow in order to save people from dying from blood loss. As reported by the Population Reference Bureau (PRB), about half of the nearly 120 million women who give birth each year have a complication during their pregnancy, and between 15 million and 20 million develop disabilities such as severe anaemia, damage to the reproductive organs or some other condition.
However, this increases the need for blood transfusions. ULT freezers are essential for ensuring the secure storage of blood as well as its components while complying to strict regulations. Viral infections and other diseses seeks immunisations had a significant influence on market growth since ultra-low temperature freezers were crucial in the storage and delivery of huge numbers of vaccinations that require ultra-cold conditions. According to World Health Organization data, vaccine storage capacity grew over 9 million in September 2023 owing to ultra-low temperature freezers.
However, this increases the need for blood transfusions. ULT freezers are essential for ensuring the secure storage of blood as well as its components while complying to strict regulations. Viral infections and other diseses seeks immunisations had a significant influence on market growth since ultra-low temperature freezers were crucial in the storage and delivery of huge numbers of vaccinations that require ultra-cold conditions. According to World Health Organization data, vaccine storage capacity grew over 9 million in September 2023 owing to ultra-low temperature freezers.
Increased Awareness of Organ Donation & Demand for Donor Organs Fuel Market Growth
Rising investment in R&D in life sciences such as child drugs, vaccine and others is expected to boost market expansion. Moreover, the increasing adoption of modified medicines is likely to boost investments in life science, increasing demand for these freezers. Similarly, rising demand for pharmaceutical storage equipment from blood donations, academic & research organisations and hospitals is another major driver driving up investments in life science research. Also, the growth in incidence of organ failure in chronic disease patients has increased demand for organ donation.
According to the Health Resources and Services Administration, there are 105,800 men, women and children on the national transplant waiting list, with 17 people dying each day while waiting an organ transplant. In 2023, the United States government invested more than US$ 129 million to improve healthcare in rural America, creating novel opportunities for segment growth. Meanwhile, the favourable regulatory environment is expected to increase the usage of ULT freezers. Additionally, the rising prevalence of chronic diseases in the world has increased demand for ULT freezers for the storage of medical devices and samples. According to the CDS, more than 20.1 million Americans have coronary artery disease. The market is therefore anticipated to increase throughout the forecast period as a result of the aforementioned factors.
According to the Health Resources and Services Administration, there are 105,800 men, women and children on the national transplant waiting list, with 17 people dying each day while waiting an organ transplant. In 2023, the United States government invested more than US$ 129 million to improve healthcare in rural America, creating novel opportunities for segment growth. Meanwhile, the favourable regulatory environment is expected to increase the usage of ULT freezers. Additionally, the rising prevalence of chronic diseases in the world has increased demand for ULT freezers for the storage of medical devices and samples. According to the CDS, more than 20.1 million Americans have coronary artery disease. The market is therefore anticipated to increase throughout the forecast period as a result of the aforementioned factors.
Recent Trends in Ultra-Low Temperature Freezer Market:
- Smart temperature control systems using AI enhance accuracy and efficiency in ultra-low freezers.
- Growth in demand for smaller, space-efficient ultra-low temperature freezers for laboratory and medical use.
- Implementation of advanced locking mechanisms and alarm systems to protect stored samples and data.
- Adoption of eco-friendly refrigerants and materials to minimize environmental impact of ultra-low freezers.
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High Initial Investment Required to Develop ULT Freezers May Limit Growth
The ultra-low temperature freezer market faces significant challenges due to the high capital investment needed for facility setup, which could restrict overall market expansion. These freezers also demand regular, costly maintenance to ensure effective and safe operation, placing a financial burden on end-users. Additionally, a shortage of qualified personnel skilled in operating these sophisticated devices further impedes market growth. Stringent and increasingly restrictive FDA regulations add another layer of complexity, making compliance difficult and potentially stalling market progress. These factors collectively contribute to a constrained growth outlook for the global ultra-low freezer market.
Additionally, the lack of trained professionals to operate and maintain complex ultra-low temperature freezers hinders the market. Specialized training and expertise are needed to manage the complex controls and carry out essential maintenance on these advanced freezers. This shortage of skilled staff not only hinders the efficient utilization of these sophisticated equipment but also impacts their maximum performance and dependability. Consequently, end-user organizations encounter difficulties in maximizing the technology, causing inefficiencies and potentially impeding overall market expansion. Targeted training programs are crucial for market advancement in order to tackle this shortage.
Additionally, the lack of trained professionals to operate and maintain complex ultra-low temperature freezers hinders the market. Specialized training and expertise are needed to manage the complex controls and carry out essential maintenance on these advanced freezers. This shortage of skilled staff not only hinders the efficient utilization of these sophisticated equipment but also impacts their maximum performance and dependability. Consequently, end-user organizations encounter difficulties in maximizing the technology, causing inefficiencies and potentially impeding overall market expansion. Targeted training programs are crucial for market advancement in order to tackle this shortage.
Product Development by Global Leaders to Address Increasing Demand by Pharmaceuticals, Uplifts Market Expansion
Increasing need for dependable storage options in research, pharmaceuticals, and biotechnology is propelling the ultra-low temperature freezer market. These sectors need specific, consistent environments to protect delicate samples, vaccines, and biological substances. There is a growing demand for advanced and technologically integrated ultra-low temperature freezers due to an increase in research and development activities and the necessity for long-term storage of valuable biological specimens. Ensuring dependable and safe storage environments is key for preserving the quality and functionality of essential materials in different uses. For instance, in April 2024, Thermo Fisher Scientific, a contract development and manufacturing organization (CDMO), has unveiled its latest ultra-low temperature (ULT) freezers. The TSX Universal Series ULT Freezers are reportedly able to acclimate to scientists’ workflows across multiple lab settings. In addition in February 2024, PHC Corporation of North America (PHCNA), supplier of the PHCbi brand of cell preservation and growth products in the North America and Latin America markets, announced the launch of a new model of PHCbi brand VIP® ECO SMART ultra-low temperature (ULT) freezer series for use in facilities including medical institutions, universities, and pharmaceutical companies.
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Ultra-Low Temperature Freezers are Gaining Traction in The North American Region
The North America region is expected to have a significant proportion of the global ultra-low temperature freezers market during the forecast period. Due to the presence of multiple biobanks, pharmaceutical and biotechnology firms within the region. According to the World Health Organization, low- and high-income nations have significantly different levels of access to blood. The average blood donation rate in high-income countries is 31.5 donations per 1000 individuals, compared to 5.0 in low-income countries. Six regions in South-Eastern Asia, including the Indian subcontinent, are included in the group. Considering this trend into account, governments in these nations are making steps to ensure that sufficient blood is supplied to individuals in need, which is increasing demand for ultra-low temperature freezers. According to the European Commission, while accounting for only one-tenth of the global population, Europe accounts for around 25% of all annual cancer cases. As a result, several clinical studies for developing cancer drugs have begun, raising demand for ultra-low temperature freezers. As a result, all of the aforementioned factors are projected to drive demand for ultra-low temperature freezers and drive market expansion throughout the forecast period.
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The report provides a detailed overview of the ultra-low temperature freezer market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for ultra-low temperature freezer market has been offered for all regional market share, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the ultra-low temperature freezer market. These Y-o-Y projections on regional and country-level markets brighten the political, economic and business environment outlook, which are anticipated to have a substantial impact on the growth of the ultra-low temperature freezer market. Some key country and region included in the ultra-low temperature freezer market report as follows:
| Regions | Countries |
|---|---|
| North America | United States, Canada |
| Latin America | Brazil, Mexico, Argentina, Colombia, Chile, Rest of Latin America |
| Europe | Germany, United Kingdom, France, Italy, Spain, Russia, Netherlands, Switzerland, Belgium, Sweden, Austria, Norway, Denmark, Finland, Ireland, Czech Republic, Rest of Europe |
| Asia Pacific | China, India, Japan, South Korea, Australia & New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia Pacific |
| Middle East and Africa | GCC Countries, South Africa, Egypt, Turkey, Morocco, Israel, Iran, Kenya, Nigeria, Rest of MEA |
Ultra-low Temperature Freezer Market Research Report Covers In-depth Analysis on:
- Ultra-low temperature freezer market detailed segments and segment-wise market breakdown
- Ultra-low temperature freezer market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in ultra-low temperature freezer industry)
- Current, historical and forthcoming 10 years market valuation in terms of ultra-low temperature freezer market size (US$ Mn), volume (Units), share (%), Y-o-Y growth rate, CAGR (%) analysis
- Ultra-low temperature freezer market demand analysis
- Ultra-low temperature freezer market pricing analysis over forecast period (by key segment and by region)
- Ultra-low temperature freezer market regional insights with region-wise market breakdown
- Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
- Latest developments and innovations in ultra-low temperature freezer market
- Regulatory landscape by key regions and key countries
- Supply chain and value chain analysis in ultra-low temperature freezer market
- Ultra-low temperature freezer market sales anddistribution strategies
- A comprehensive overview of parent market
- A detailed viewpoint on ultra-low temperature freezer market forecast by countries
- Mergers and acquisitions in ultra-low temperature Freezer market
- Essential information to enhance market position
- Robust research methodology
- Frequently Asked Questions -
What factors are driving the growth of the ultra-low temperature freezer market?
The growth of the ultra-low temperature freezer market is primarily driven by increasing demand for advanced cold storage solutions in pharmaceuticals, biotechnology and research sectors, especially for vaccine storage.
What are the major challenges facing ultra-low temperature freezer market?
Key challenges include high energy consumption, the need for regular maintenance and the significant upfront cost of ultra-low temperature freezers, which can limit adoption in smaller facilities.
What is the expected growth rate of ultra-low temperature freezer market over the next decade?
The ultra-low temperature freezer market is expected to grow at a steady CAGR, driven by increasing demand in biopharmaceuticals, ongoing research activities and the growing need for long-term biological sample storage.
