The global ultra-low temperature freezer market is set to gain impetus from the increasing support of the government to conduct advanced research in the field of life science. This information is published by Fortune Business Insights™ in a new report, titled, “Ultra-Low Temperature Freezer Market Size, Share & COVID-19 Impact Analysis, By Type (Chest and Upright), By Capacity (Less than 300 Liters, 301-500 Liters, 501-700 Liters, 701-900 Liters, and More than 900 Liters), By Application (Bio Banks & Hospitals, Academic & Research Laboratories, and Others) and Regional Forecast, 2020-2027.” The report further states that the ultra-low temperature freezer market size was USD 547.0 million in 2019 and is projected to reach USD 783.1 million by 2027, exhibiting a CAGR of 4.6% during the forecast period.
COVID-19 Pandemic to Affect Growth Positively Owing to Rising Number of Bio Banks
The outbreak of the COVID-19 pandemic has disrupted the supply chain, thereby obstructing production. But, the pandemic is likely to affect growth positively because of the increasing number of plasma treatment providers and biobanks worldwide. ULT freezers are therefore being demanded more prevent transmission of the virus.
To get to know more about the short-term and long-term impact of COVID-19 on this Ultra-low Temperature Freezer Market.
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Source: Globenewswire
