Ultra-low Temperature Freezer Market to Exhibit 4.6% CAGR till 2027; Thermo Fisher Scientific Launches New Service for TSX Series ULT Freezers

The global ultra-low temperature freezer market size is projected to reach USD 783.1 million by 2027. Fortune Business Insights™ presented this information in a new study, titled, “Ultra-Low Temperature Freezer Market Size, Share & COVID-19 Impact Analysis, By Type (Chest and Upright), By Capacity (Less than 300 Liters, 301-500 Liters, 501-700 Liters, 701-900 Liters and More than 900 Liters), By Application (Bio Banks & Hospitals, Academic & Research Laboratories, and Others) and Regional Forecast, 2020-2027.” The study further mentions that the market stood at USD 547.0 million in 2019. But, it is set to exhibit a CAGR of 4.6% during the forecast period between 2020 to 2027.

Thermo Fisher Scientific Acquires Qiagen to Enhance its Product Offerings

In May 2020, Thermo Fisher Scientific acquired Qiagen, a diagnostic test manufacturer based in Germany worth USD 11.5 billion. As per one of the company officials, “This acquisition will help Thermo Fisher in bringing together its complementary offerings for advancing its customers’ significant work- right from diagnostics to discovery.”

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Rising Adoption of Modified Medicines to Bolster Growth

The investments in research and development activities in the field of life science to develop vaccines and child drugs worldwide are expected to accelerate the ultra-low temperature freezer market growth in the coming years. Also, the rising usage of modified medicines would contribute to this growth. Additionally, the high demand for pharmaceuticals storage equipment from hospitals and blood banks is likely to increase the need for ULT freezers. However, the COVID-19 pandemic may hinder growth by disrupting supply chains.

Key Players Focus on Developing Unique ULT Freezers to Generate More Sales

The market for ultra-low temperature freezers possesses companies such as Haier Biomedical, Thermo Fisher Scientific, Inc., Eppendorf AG, and PHC Holdings Corporation. They mainly contribute to approximately ~53% - 58% market share. Nowadays, they are mainly aiming to develop new ULT freezers equipped with state-of-the-art features to surge sales and expand their consumer bases.

Fortune Business Insights™ lists out the names of all the reputed ultra-low temperature freezer manufacturers operating in the global market. They are as follows:

• Thermo Fisher Scientific Inc. (United States)


• PHC Holdings Corporation (United States)


• Eppendorf AG (Germany)


• Esco Micro Pte Ltd. (Singapore)


• Helmer Scientific (United States)


• Arctiko A/S (Denmark)


• BIONICS SCIENTIFIC TECHNOLOGIES (P) LTD. (India)


• Glen Dimplex (Ireland)


• Haier Biomedical (United Kingdom)


• LABCOLD (United Kingdom)


• BINDER GmbH (Germany)

A Noteworthy Industry Development-

• November 2019: Thermo Fisher Scientific, a provisioner of scientific instrumentation based in the U.S. launched its new service for TSX Series ULT freezers. It will help in monitoring and collecting key performance data of the freezer to bolster optimal product and sample protection. The company’s experts will analyze the collected data to deliver reactive warnings to labs.

Further Report Findings-

• In 2019, North America held USD 199.5 million in terms of revenue and is set to retain its dominant position throughout the forthcoming years. This growth is attributable to the presence of various new and local ULT freezer manufacturers in the region.


• In the U.S. the bio banks and hospitals segment is estimated to have a share of 50.7%.


• Asia Pacific would grow significantly backed by the rising scientific research, as well as the increasing number of biotechnology & pharmaceutical companies.


• By application, the bio banks and hospitals segment procured 51.5% in terms of the ultra-low temperature freezer market share in 2019 stoked by the rising prevalence of accidents and emergency cases. It will further surge the demand for ULT freezers worldwide.

The global market for ultra-low temperature freezers can be segmented in the following way: