The Rising Demand For Blood Components Is Expected To Propel The Growth Of The Ultra-Low Temperature Freezers Market

The Business Research Company's ultra-low temperature freezers market research report expands on key drivers, trends, and growth opportunities in the market.

LONDON, Aug. 31, 2022 /PRNewswire/ -- The increase in demand for blood components across the globe will contribute to the growth of the ultra-low temperature freezers in the historic period. Blood and blood components are typically employed in cancer, hematological illnesses, and other treatments, as well as to support complex surgical and medical operations. And for the safe preservation of blood components and specimens at extremely low temperatures between -20 °C and -86 °C, ultra-low temperature freezers are used. In March 2021, according to The American Red Cross, a US-based non-profit humanitarian organization, the daily requirement for red blood cells was around 29,000 units, and every day, 6.500 units of plasma and about 5,000 units of platelets are required. Also, almost 16 million blood components are transfused annually.

The global ultra-low temperature freezers market size is expected to grow from $805.47 million in 2021 to $851.35 million in 2022 at a compound annual growth rate (CAGR) of 5.7%. The change in the ultra-low temperature freezers market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The ultra-low temperature freezers market is expected to reach $1,064.02 million in 2026 at a CAGR of 5.7%.

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Ultra-Low Temperature Freezers Market Overview – (https://www.thebusinessresearchcompany.com/report/ultra-low-temperature-freezers-global-market-report)

The ultra-low temperature freezers market consists of sales of ultra-low temperature freezers by entities (organizations, sole traders, and partnerships) that manufacture ultra-low temperature freezers. Ultra-low temperature freezers are a form of a freezer that can keep temperatures between -80 and -86 degrees Celsius. An ultra-low temperature freezer is also known as a minus 80 freezer or a negative 80 freezer. Only goods and services traded between entities or sold to end consumers are included.

IoT Enabled Ultra-Low Temperature Freezers Are Gaining Popularity – (https://www.thebusinessresearchcompany.com/report/ultra-low-temperature-freezers-global-market-report)

Companies manufacturing ultra-low temperature freezers are using internet of things (IoT) enabled solutions to help monitor the condition of freezers by connecting to more than one location. The IoT in laboratory freezers is among the most promising ultra-low temperature freezers market trends. IoT helps in remote temperature monitoring systems. It detects an issue from preset directives and sends an alert to connected devices such as computers, tablets, or phones when a freezer temperature becomes too hot. WattIQ, formerly Ibis Networks, an enterprise-grade IoT solution provider company, launched an original application of WattIQ's power monitoring solution that deploys IoT for predictive lab freezer monitoring to provide insight into energy efficiency over the life of a freezer with better performance and lower cost.

Ultra-Low Temperature Freezers Industry Segmentation

The global ultra-low temperature freezers market is segmented -

1) By Type: Chest Freezers, Upright Freezers

2) By Application: Blood and Blood Products, Organs, Pharmaceuticals, Forensic, Genomic Research

3) By End-User: Biobanks, Pharmaceutical and Biotechnology Companies, Academic and Research Laboratories, Others

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Medical Refrigerators Global Market Report 2022 – By Product Type (Blood Bank Refrigerator And Plasma Freezer, Laboratory Refrigerator And Freezer, Pharmacy Refrigerator And Freezer, Chromatography Refrigerator And Freezer, Enzyme Refrigerator And Freezer, Ultra-Low-Temperature Freezers, Cryogenic Storage Systems), By Design Type (Explosive-Proof Refrigerators, Undercounter Medical Refrigerators, Countertop Medical Refrigerators, Flammable Material Storage Refrigerators), By Temperature Control Range (Between 2°C And 8°C, Between 0°C And -40°C, And Under -40°C), By Volume (Below 50 Litres, 50-200 Litres, 200-400 Litres, 400-600 Litres, More Than 600 Litres), By End-User (Blood Banks, Pharmaceutical Companies, Hospital And Pharmacies, Research Institutes, Medical And Diagnostic Centres) – Market Size, Trends, And Global Forecast 2022-2026

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