Ultra-low temperature freezers are bio coolers that are used utilized to preserve bacteria, viruses, enzymes, drugs, cell preparations, chemicals, tissue samples, and others. These freezers are widely used by pharmaceutical companies for clinical testing processes.
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Increase in incidences of infectious diseases, cancer and other chronic diseases coupled with increase in adoption of personalized medicines has accelerated new drug development process thereby stimulates the demand for ultra-low temperature freezers market growth. Development of new drug is a lengthy process which involves numerous clinical trials and Studies. Ultra- low temperature freezers play an important role in storage and protecting these drugs. Furthermore, increase in adoption of these freezers in drug discovery process will have the positive impact on market growth. Also, rise in genomics research activities will fuel the market growth in near future. Genomic research projects like Human Genome Project (HGP), has facilitated to development of new sequencing technologies like next generation sequencing (NGS). This will raise the demand for technologically advanced ultra-low freezers which is expected to drive the market growth.
However, high cost and regularity issues related associated with ultra-low temperature freezers may obstruct the global low temperature freezers market growth during the analysis period.
Market Key Players
Various key players are discussed in this report such as Thermo Fisher Scientific, Inc, Haier Biomedical, Eppendorf AG, Helmer Scientific, Arctiko A/S, Global Cooling, Inc, Bionics Scientific Technologies (P) Ltd., Labcold Ltd., and Panasonic Biomedical
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