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Ultra-low Temperature Freezers Market Size
- Report ID: GMI2403
- Published Date: Mar 2023
- Report Format: PDF
Ultra-low Temperature Freezers Market size
Ultra-low Temperature Freezers Market size was valued at over USD 426 million in 2022. Fueled by innovations in drug discovery and development globally, the industry is anticipated to grow at more than 5% CAGR from 2023-2032.
Rising incidences of cancer, infectious diseases, and other chronic ailments have accelerated global drug development initiatives, which is stimulating the demand for ultra-low temperature (ULT) freezers for storing medications and sensitive drug-making compounds. Today, approximately 6 out of 10 individuals live with at least one chronic ailment including cancer, diabetes, stroke, and heart disease in the US alone. With many modern medications requiring stable low temperatures to extend their shelf-life and retain efficacy, drug developers and retailers frequently acquire ULT freezers for storage purposes.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Ultra-low Temperature Freezers Market Size in 2022: | USD 426 Million |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 5.2% |
| 2032 Value Projection: | USD 708 Million |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 158 |
| Tables, Charts & Figures: | 263 |
| Segments covered: | Type, Application, Technology and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Ultra-low Temperature Freezers Market Scope
