Global Ultra-low Temperature (ULT) Freezers market will reach 1057.8 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/8/16

Growing investments made by pharmaceutical companies in research and development has upped the demand for ultra-low temperature freezers. These freezers are capable to preserving viruses, drugs, bacteria, chemicals, and enzymes at ultra-low freezing temperatures such as minus 45 degree Celsius to minus 86 degree Celsius. The focus of big pharma companies toward drug discoveries and increasing number of clinical trials are expected to fuel the growth of the global ultra-low temperature freezers market. In addition, the market is also being driven by the growing number of blood banks.

QY Research states that the ultra-low temperature (ULT) freezers market industry was worth US$801.1 mn in 2018 and is expected to be worth US$1,057.8 mn by 2025. The global market is expected to surge at CAGR of 4.05% between 2018 and 2025.

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