Asia Pacific, the ultra-low temperature freezer market, is anticipated to reach US$ 159.04 Mn in 2027 from US$ 109.02 Mn in 2019. The market is projected to grow with a CAGR of 5.0% from 2020-2027.
The ultra-low temperature freezer market is growing primarily due to growing R&D activities to introduce new drug compounds. Restraining factor such as, high costs associated with ultra-low temperature freezers is likely to damage the growth of the market in the coming years. On the other hand, development in the healthcare market is expected to have a positive impact on the growth of the Asia Pacific ultra-low temperature freezer market in the coming years.The healthcare industry has been witnessing rapid transformations during the previous years. The industry has witnessed various technological advancements, such as use of stem cell therapy and personalized medicine. Countries across the globe have been preferring advanced technologies in healthcare. With a need for better healthcare facilities, Technology-Enabled Care (TEC) solutions are being preferred in the healthcare systems in emerging economies. In addition, the increase in aging population, incidences of chronic illnesses and pediatric care are the primary factors driving the growth of the healthcare sector.
Various established players in the industry have been investing significant amount of their revenue in R&D activities for the development of better and advanced products and technologies to be used in the healthcare industry. Also, the availability of reimbursement for various medical procedures are expected to fuel the growth of the industry in the coming years.
There has been a significant increase in the healthcare expenditure during the previous years. As per World Bank, Healthcare expenditure accounts for 9.94% of global GDP. In the US, 17.1% of its GDP is committed to the industry, whereas in Latin America, HC expenditures account for only 7.24%, with Brazil at 8.3%, and Mexico at 6.3%. Whereas the healthcare expenditure per capita was 5.6%, and 4.7% in China, and India, respectively, during 2017. The above stated factors are expected to offer broad growth opportunities in the market.
As per the S&P Global ratings, the coronavirus is expected to wipe approximately US$200 billion off Asia Pacific economies this year, sending growth to its lowest level, as governments across the region struggle to combat the disease. The outbreak has spread to at least 85 countries in the region and is expected to hammer markets as investors fret over its economic impact. In china, the reported total cases of coronavirus are 82,295; in Japan, it is 8,100; India is having 11,555 counts. on a large scale, the pharmaceutical companies are working on drug discovery and clinical testing processes in the regions. China and Japan have been frontiers in the research activities including development of stem cell therapies, cell therapies and regenerative medicine. Thus, the ultra-low temperature freezer market is anticipated to less affected by the pandemic situation.
In 2019, the Japan accounted for the largest market share in Asia Pacific ultra-low temperature freezer market, and it is also expected to grow at a faster pace over the forecast period. In the country, the market players are focusing on new product launches and increasing adoption and acceptance of ultra-low temperature freezer. Moreover, the market players are focusing on manufacturing energy-efficient natural refrigerants and inverter compressors to reduce power consumption through slow-speed rotation control effectively, which are responsible for the highest revenue share of the region. Hence, considering the mentioned factors, the ultra-low temperature freezer market is expected to grow at a significant pace in the US during the forecast period.
Rest of Asia Pacific Ultra-Low Temperature Freezer Market Revenue and Forecasts to 2027 (US$ Mn)
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ASIA PACIFIC ULTRA-LOW TEMPERATURE FREEZER – MARKET SEGMENTATION
By Type
- Upright ULT Freezers
- Chest ULT Freezers
By End-User
- Bio-Banks
- Hospital
- Pharmaceutical and Biotechnology Companies
- Academic and Research Institute
By Geography
Company Profiles
- Bionics Scientific Technologies (P). Ltd
- Haier Biomedical
- REMI GROUP
- PHC Holdings Corporation
- Esco Group of Companies
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, End User, and, Country
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, China, Japan, South Korea
1. Introduction
1.1 Scope of the Studya
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Asia Pacific Ultra-Low Temperature Freezer Market – By Type
1.3.2 Asia Pacific Ultra-Low Temperature Freezer Market – By End-User
1.3.3 Asia Pacific Ultra-Low Temperature Freezer Market – By Country
2. Asia Pacific Ultra-Low Temperature Freezer Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Ultra-Low Temperature Freezer Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 Asia Pacific Ultra-Low Temperature Freezer Market - Asia Pacific PEST Analysis
4.3 Expert Opinion
5. Asia Pacific Ultra-Low Temperature Freezer - Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Growing R&D Activities to Introduce New Drug Compounds
5.2 Key Restraints
5.2.1 High Costs Associated with Ultra-Low Temperature Freezers
5.3 Key Market Opportunities
5.3.1 Development in the Healthcare Market
5.4 Future Trend
5.4.1 Growing Emphasis on Temperature Uniformity and Energy Efficiency
5.5 Impact Analysis
6. Ultra-Low Temperature Freezer Market – Asia Pacific Analysis
6.1 Asia Pacific Ultra-Low Temperature Freezer Market Revenue Forecasts and Analysis
7. Ultra-Low Temperature Freezer Market Analysis – By Type
7.1 Overview
7.2 Ultra-Low Temperature Freezer Market Revenue Share, by Type (2019 and 2027)
7.3 Upright ULT Freezers
7.3.1 Overview
7.3.2 Upright ULT Freezers: Ultra-Low Temperature Freezer Market – Revenue and Forecast to 2027 (US$ Million)
7.4 Chest ULT Freezers
7.4.1 Overview
7.4.2 Chest ULT Freezers: Ultra-Low Temperature Freezer Market – Revenue and Forecast to 2027 (US$ Million)
8. Ultra-Low Temperature Freezer Market – By End-User
8.1 Overview
8.2 Ultra-Low Temperature Freezer Market, by End-User, 2019 and 2027 (%)
8.3 Bio-Banks
8.3.1 Overview
8.3.2 Bio-Banks: Ultra-Low Temperature Freezer Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Academic Research Institutes
8.4.1 Overview
8.4.2 Academic Research Institutes: Ultra-Low Temperature Freezer Market – Revenue and Forecast to 2027 (US$ Million)
8.5 Hospitals
8.5.1 Overview
8.5.2 Hospitals: Ultra-Low Temperature Freezer Market – Revenue and Forecast to 2027 (US$ Million)
8.6 Pharmaceutical & Biotechnology Companies
8.6.1 Overview
8.6.2 Pharmaceutical & Biotechnology Companies: Ultra-Low Temperature Freezer Market – Revenue and Forecast to 2027 (US$ Million)
9. Ultra-Low Temperature Freezer Market Revenue and Forecasts To 2027 – Geographical Analysis
9.1 Asia Pacific Ultra-Low Temperature Freezer Market Revenue and Forecasts To 2027
9.1.1 Overview
9.1.2 Asia Pacific: Ultra-Low Temperature Freezer Market - Revenue and Forecast to 2027 (USD Million)
9.1.3 Asia Pacific: Ultra-Low Temperature Freezer Market, by Type, 2018–2027 (USD Million)
9.1.4 Asia Pacific: Ultra-Low Temperature Freezer Market, by End User – 2018–2027 (USD Million)
9.1.5 Asia Pacific: Ultra-Low Temperature Freezer Market, by Country, 2019 & 2027 (%)
9.1.6 China: Ultra-Low Temperature Freezer Market – Revenue and Forecast to 2027 (USD Million)
9.1.6.1 China: Ultra-Low Temperature Freezer Market – Revenue and Forecast to 2027 (USD Million)
9.1.6.2 China: Ultra-Low Temperature Freezer Market, by Type, 2018–2027 (USD Million)
9.1.6.3 China: Ultra-Low Temperature Freezer Market, by End User, 2018–2027 (USD Million)
9.1.7 Japan: Ultra-Low Temperature Freezer Market – Revenue and Forecast to 2027 (USD Million)
9.1.7.1 Japan: Ultra-Low Temperature Freezer Market – Revenue and Forecast to 2027 (USD Million)
9.1.7.2 Japan: Ultra-Low Temperature Freezer Market, by Type, 2018–2027 (USD Million)
9.1.7.3 Japan: Ultra-Low Temperature Freezer Market, by End User, 2018–2027 (USD Million)
9.1.8 India: Ultra-Low Temperature Freezer Market – Revenue and Forecast to 2027 (USD Million)
9.1.8.1 India: Ultra-Low Temperature Freezer Market – Revenue and Forecast to 2027 (USD Million)
9.1.8.2 India: Ultra-Low Temperature Freezer Market, by Type, 2018–2027 (USD Million)
9.1.8.3 India: Ultra-Low Temperature Freezer Market, by End User, 2018–2027 (USD Million)
9.1.9 South Korea: Ultra-Low Temperature Freezer Market – Revenue and Forecast to 2027 (USD Million)
9.1.9.1 South Korea: Ultra-Low Temperature Freezer Market – Revenue and Forecast to 2027 (USD Million)
9.1.9.2 South Korea: Ultra-Low Temperature Freezer Market, by Type, 2018–2027 (USD Million)
9.1.9.3 South Korea: Ultra-Low Temperature Freezer Market, by End User, 2018–2027 (USD Million)
9.1.10 Australia: Ultra-Low Temperature Freezer Market – Revenue and Forecast to 2027 (USD Million)
9.1.10.1 Australia: Ultra-Low Temperature Freezer Market – Revenue and Forecast to 2027 (USD Million)
9.1.10.2 Australia: Ultra-Low Temperature Freezer Market, by Type, 2018–2027 (USD Million)
9.1.10.3 Australia: Ultra-Low Temperature Freezer Market, by End User, 2018–2027 (USD Million)
10. Impact of COVID-19 Pandemic on Global Ultra-Low Temperature Freezer Market
10.1 Asia Pacific: Impact Assessment of COVID-19 Pandemic
11. Company Profiles
11.1 Bionics Scientific Technologies (P). Ltd
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Haier Biomedical
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 REMI GROUP
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 PHC Holdings Corporation
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Esco Group of Companies
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Glossary of Terms
LIST OF TABLES
Table 1. R&D Investments by Major Pharmaceutical Companies
Table 2. Asia Pacific Ultra-Low Temperature Freezer Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 3. Asia Pacific Ultra-Low Temperature Freezer Market, by End User – Revenue and Forecast to 2027 (USD Million)
Table 4. China Ultra-Low Temperature Freezer Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 5. China Ultra-Low Temperature Freezer Market, by End User – Revenue and Forecast to 2027 (USD Million)
Table 6. Japan Ultra-Low Temperature Freezer Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 7. Japan Ultra-Low Temperature Freezer Market, by End User – Revenue and Forecast to 2027 (USD Million)
Table 8. India Ultra-Low Temperature Freezer Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 9. India Ultra-Low Temperature Freezer Market, by End User – Revenue and Forecast to 2027 (USD Million)
Table 10. South Korea Ultra-Low Temperature Freezer Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 11. South Korea Ultra-Low Temperature Freezer Market, by End User – Revenue and Forecast to 2027 (USD Million)
Table 12. Australia Ultra-Low Temperature Freezer Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 13. Australia Ultra-Low Temperature Freezer Market, by End User – Revenue and Forecast to 2027 (USD Million)
Table 14. Glossary of Terms, Asia Pacific Ultra-Low Temperature Freezer Market
LIST OF FIGURES
Figure 1. Ultra-Low Temperature Freezer Market Segmentation
Figure 2. Asia Pacific Ultra-Low Temperature Freezer Market Overview
Figure 3. Upright ULT Freezers Segment Held Largest Share of Ultra-Low Temperature Freezer Market
Figure 4. Japan Is Expected to Show Remarkable Growth During the Forecast Period
Figure 5. Asia Pacific Ultra-Low Temperature Freezer Market- Leading Country Markets (US$ Mn)
Figure 7. Asia Pacific Ultra-Low Temperature Freezer Market - Asia Pacific PEST Analysis
Figure 8. Ultra-Low Temperature Freezer Market Impact Analysis of Drivers and Restraints
Figure 9. Asia Pacific Ultra-Low Temperature Freezer Market – Revenue Forecasts and Analysis – 2019- 2027
Figure 10. Ultra-Low Temperature Freezer Market Revenue Share, by Type (2019 and 2027)
Figure 11. Upright ULT Freezers: Ultra-Low Temperature Freezer Market – Revenue and Forecast to 2027 (US$ Million)
Figure 12. Chest ULT Freezers: Ultra-Low Temperature Freezer Market – Revenue and Forecast to 2027 (US$ Million)
Figure 13. Ultra-Low Temperature Freezer Market, by End-User, 2019 and 2027 (%)
Figure 14. Bio-Banks: Ultra-Low Temperature Freezer Market – Revenue and Forecast to 2027 (US$ Million)
Figure 15. Academic Research Institutes: Ultra-Low Temperature Freezer Market – Revenue and Forecast to 2027 (US$ Million)
Figure 16. Hospitals: Ultra-Low Temperature Freezer Market – Revenue and Forecast to 2027 (US$ Million)
Figure 17. Pharmaceutical & Biotechnology Companies: Ultra-Low Temperature Freezer Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. Asia Pacific: Ultra-Low Temperature Freezer Market, by Key Country – Revenue (2019) (USD Million)
Figure 19. Asia Pacific Ultra-Low Temperature Freezer Market Revenue and Forecast to 2027 (USD Million)
Figure 20. China: Ultra-Low Temperature Freezer Market – Revenue and Forecast to 2027 (USD Million)
Figure 21. Japan: Ultra-Low Temperature Freezer Market – Revenue and Forecast to 2027 (USD Million)
Figure 22. India: Ultra-Low Temperature Freezer Market – Revenue and Forecast to 2027 (USD Million)
Figure 23. South Korea: Ultra-Low Temperature Freezer Market – Revenue and Forecast to 2027 (USD Million)
Figure 24. Australia: Ultra-Low Temperature Freezer Market – Revenue and Forecast to 2027 (USD Million)
Figure 25. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
- Bionics Scientific Technologies (P). Ltd
- Haier Biomedical
- REMI GROUP
- PHC Holdings Corporation
- Esco Group of Companies
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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