According to a recent market study published by Growth Market Reports, titled, “Global Cooled Incubators Market - by capacities, by modalities, by interfaces, by applications, by end-users, and by Regions: Size, Share, Trends and Opportunity Analysis, 2018-2028”, the market was valued at US$ 128.3 Million in 2020 and is expected to grow at a moderate growth rate of 7.9% by the year 2028. The Technological advancements, growing research sector, rising prevalence of infectious diseases in Asia Pacific, and improved funding by governments to promote research & development is expected to drive the market growth during forecast period.

Microbiological bacteria research and sample testing, hematological testing, curing, coliform determinations, enzyme digestion studies, tissue culturing, crystallization studies, dry and staining procedures, histochemical procedures, shelf-life testing, and water pollution testing are various applications of cooled incubators.

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Increased research efforts in pharmaceutical and microbiological industries for the discovery of innovative treatments for infectious illnesses, as well as growing government funding to encourage R&D, are expected to drive the demand for cooling incubators during the forecast period.

The global cooled incubators market is fragmented based on capacities, modalities, interfaces, applications, end-users, and regions. On the basis of capacities, the cooled incubators market is segmented into below 50L, 51L to 100L, and above 101L. In terms of modalities, the global cooled incubators market is bifurcated into benchtop and floor standing.

Based on interfaces, the global cooled incubators market is classified as digital and analog. On the basis of applications, the global cooled incubators market is divided into hematology, histology, microbiology, and others. Based on end-users, the global cooled incubators market is categorized as research laboratories, academic institutes, pharmaceutical & biotechnological companies, and others. Based on regions the global Cooled Incubators market has been fragmented into Europe, North America, Asia Pacific, Latin America, and Middle East & Africa.

The cooled incubators market is projected to witness a slight increase in Year-on-year growth for 2020 as compared to for previous year 2019. Rising adoption of cooled incubators in research laboratories is supporting growth of the market in 2020. The Cooled Incubators market is growing at a significant pace due to rising prevalence of infectious diseases in Asia Pacific.

As per Growth Market Reports industry analyst Rajas Shirwalkar, “The global Cooled Incubators market is anticipated to witness moderate growth during forecast period 2021-2028. The cooled incubators market is registering growth opportunities across the globe, owing to the Technological advancements, growing research sector, rising prevalence of infectious diseases in Asia Pacific, and improved funding by governments to promote research & development.”

The Coronavirus disease 2019 (COVID-19) pandemic has highlighted economic disparities in the global demand in the crises of global interdependence and governance challenges. Epidemics are isolated concerns for businesses and prospects for emerging patterns and vulnerabilities. According to the current pandemic situation, strict measures are required for monitoring the situation, which in turn, affect businesses causing unanticipated short and long-term effects.

Consequently, epidemics and pandemics are problems for individual market and an enhancement of existing dynamics and limitations. In the long-term, COVID-19 can serve as another opportunity for manufacturers to reconsider their commitment to the supply chain in regions prone to outbreaks and to reconfigure themselves regionally.

Key Takeaways from the Study

  • The players including Amerex Instruments, Inc, Andreas Hettich GmbH & Co. KG, BINDER GmbH, Eppendorf AG, and Esco Micro Pte. Ltd., hold significant share of global cooled incubators market in year 2019.
  • North America is a promising region for the market. The market in this region is expected to grow in the coming years owing to the presence of various market players in the region.
  • In terms of value, the pharmaceutical & biotechnological companies segment is expected to grow at a CAGR of 6.7% during the forecast period, owing to the rapid growth in the drug development process, owing to an upsurge in support for NDD applications by the U.S. FDA, is one of the major factors expected to boost the pharmaceutical & biotechnological companies segment.
  • Factors such as growing prevalence of blood disorders such as thalassemia and rising awareness regarding these disorders is expected to increase the demand for hematology testing, which in turn, is projected to augment the demand for cooled incubators in hematology labs segments.

Report Scope

Report Metric

Details

Market Value in 2020

US$ 128.3 Million

Market Growth Rate (from 2020 to 2028)

7.9%

Historical Data

2018, & 2019

Base Year

2020

Forecast Period

2021 - 2028

Units Considered

Value (US$ Million)

Market Segments

By Capacities, By Modalities, By Interfaces, By Applications, By End-users

Regional Scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key Companies Profiled

Amerex Instruments, Inc, Andreas Hettich GmbH & Co. KG, BINDER GmbH, Eppendorf AG, Esco Micro Pte. Ltd., FRANCE ETUVES, Gilson, Inc., LEEC Limited, Memmert GmbH + Co.KG, PHC Corporation, Scientific Industries, Inc., Sheldon Manufacturing, Inc., Thermo Fisher Scientific Inc., Thomas Scientific, and VWR International, LLC.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience

  • Supply-side: Manufacturers, raw material suppliers, and distributors
  • Demand Side: aerospace & automotive, consumer electronics, medical, military, and others
  • Regulatory Side: Concerned government authorities, and other regulatory bodies.