Global Cooled Incubators Market By Capacities (Below 50 L, 51 L to 100 L, and Above 101 L), Modalities (Benchtop and Floor standing), Interfaces (Digital and Analog), Applications (Hematology, Histology, Microbiology, and Others), End-users (Research Laboratories, Academic Institutes, Pharmaceutical & Biotechnological Companies, and Others), and Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021-2028
Cooled Incubators Market Outlook
The global cooled incubators market was valued at USD 128.3 Mn in 2020 and is anticipated to reach USD 234.8 Mn by 2028, expanding at a CAGR of 7.9% during the forecast period. Incubators are used to keep biological samples such as cell lines or microbial cultures at optimal temperatures and environments.
Primary function of an incubator is to maintain sufficient levels of oxygen, carbon dioxide, humidity, temperature, and carbon dioxide. A cooling incubator is a cabinet with an interior temperature, which is kept below or at room temperature. In various fields of microbiology, basic research, and the food industry, these incubators are used to incubate microbiological cultures.
Cooled Incubators Market Dynamics
Technological Advancements
Technological developments resulted in a paradigm shift from the use of traditional equipment towards advanced technology-based equipment, which consumes less energy. Cooling incubators with innovative add-on technology significantly reduces energy usage and uneven temperature distribution. For instance, BINDER GmbH created the world's only thermoelectric cooling incubator with 170L of internal volume to strike a compromise between size and useful area.
Introduction of new technologies is projected to result in a high acceptance rate, which in turn, is expected drive the demand for cooled incubators during the forecast period. Peltier technology used by Thomas Scientific comprise innovative thermoelectric cooling technology, which excludes the requirement for a refrigerated compressor.
Growing Research Sector
Cooled incubators are extensively used in incubation of microbes and storing blood and other samples. Growing research sector in industries such as pharmaceutical, biotechnology, hospitals, clinical trials, and research institutes fuels the cooled incubator market. Growing clinical trials to estimate the efficacy and safety of drugs is expected to drive the demand for cooled incubators.
Rising spending on research & development by pharmaceutical industries is projected to propel the cooled incubators market. For instance, according to CBO, in 2019, the pharmaceutical industry spent nearly USD 83 billion on research & development.
Rising Prevalence of Infectious Diseases in Asia Pacific
Viruses, bacteria, fungus, and parasites cause infectious illnesses. Several factors contribute to the re-emergence and emergence of infectious diseases; however, the majority are associated increasing population, rapid international travel, overcrowding in cities with poor sanitation, and changes in processing and handling of large amounts of food.
Rising prevalence of infectious diseases in Asia Pacific is expected to increase research activities in pharmaceutical and healthcare sectors, which in turn, is projected to increase the demand for cooled incubators in these sectors, as these incubators are used for storing blood samples.
Increasing Use of Refurbished Equipment
Increased usage of refurbished equipment is projected to restrain the global expansion of the cooling incubator market. Various medical professionals voiced concerns about the safety, quality, and efficacy of refurbished medical equipment, according to the US Food and Drug Administration (FDA).
Large inventory of old or used medical devices, cost containment pressure on healthcare organizations, increasing investments by private healthcare institutions, and the rising trend of medical tourism are some of the major factors driving the demand for refurbished equipment and impeding the growth of the cooled incubators market.
Increasing research and development activities by key companies
Manufacturers are currently directing their resources on research and development to offer a low-cost, high-tech cooling incubator. Increased R&D activity by major firms is expected to result in the launch of new technologies in the near future. For instance, in April 2019, Esco Philippines, Inc. collaborated with the Philippine Society for Microbiology, Inc. (PSM) to promote research papers of graduate and undergraduate students in the area of microbiology. These factors are expected to improve the acceptability and implementation of cooling incubators, providing market possibilities.
Cooled Incubators Market Segmental Outlook
The global cooled incubators market is segmented on the basis of capacities, modalities, interfaces, applications, end-users, and regions.
Based on capacities, the global cooled incubators market is divided into below 50L, 51L to 100L, and above 101L. In terms of value, the 51L to 100L segment is expected to expand at a CAGR of 7.2% during the forecast period, owing to the benefits of 51L to 100L cooled incubators such as reproducible and safe incubation settings in various environmental conditions, environment-friendly, energy-efficient, and security.
In terms of modalities, the global cooled incubators market is bifurcated into benchtop and floor standing. The floor standing segment is anticipated to expand at a CAGR of 7.0%, in terms of value, during the forecast period, due to growing need of storage for samples in research laboratories and pharmaceutical & biotechnological companies.
Based on interfaces, the global cooled incubators market is classified as digital and analog. The institution of technologically advanced laboratory equipment by major companies is anticipated to augment the digital segment growth. Moreover, these incubators are compact cooled incubators used in laboratories, due to their small footprint and low noise characteristics.
On the basis of applications, the global cooled incubators market is divided into hematology, histology, microbiology, and others. Rapid rise of diseases, growing rate of infectious illnesses, increasing clinical research in clinical microbiology, research grants, increased financing, and public-private partnerships are some factors driving microbiology testing, which is driving the demand for cooled incubators in microbiology.
Based on end-users, the global cooled incubators market is categorized as research laboratories, academic institutes, pharmaceutical & biotechnological companies, and others. The pharmaceutical & biotechnological companies segment is expected to account for a significant market share during the forecast period.
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.
Cooled Incubators Market Regional Outlook
Based on regions, the global cooled incubators market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe are projected to account for a major share of the global cooled incubator market during the forecast period, due to the presence of a large number of research and development institutes, highly developed healthcare infrastructure, and high adoption rate of advanced technologies.
The market in Asia Pacific is projected to expand at a CAGR of 12.5% during the forecast period, owing to various factors such as investments by global biopharmaceutical companies and strong economic growth in the region. Contract manufacturers are focusing on exploiting growth opportunities in the region.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the global Cooled Incubators market
- Historical, Current and Projected Market Size in terms of Value and Volume
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global Cooled Incubators Market Performance
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Cooled Incubators Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Cooled Incubators Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Cooled Incubators Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Cooled Incubators Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Cooled Incubators Market Size & Forecast, 2017-2027
4.5.1 Cooled Incubators Market Size and Y-o-Y Growth
4.5.2 Cooled Incubators Market Absolute $ Opportunity
4.6 Pricing Analysis & Forecast, By Capacity, 2017-2027
4.7 Regulatory Framework Impact
4.8 Global Cooled Incubators Market: Technology Outlook
Chapter 5 Global Cooled Incubators Market Analysis and Forecast By Capacity
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities By Capacity
5.1.2 Basis Point Share (BPS) Analysis By Capacity
5.1.3 Absolute $ Opportunity Assessment By Capacity
5.2 Cooled Incubators Market Size Forecast By Capacity
5.2.1 Below 50L
5.2.2 51L to 100L
5.2.3 Above 101L
5.3 Market Attractiveness Analysis By Capacity
Chapter 6 Global Cooled Incubators Market Analysis and Forecast By Modality
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities By Modality
6.1.2 Basis Point Share (BPS) Analysis By Modality
6.1.3 Absolute $ Opportunity Assessment By Modality
6.2 Cooled Incubators Market Size Forecast By Modality
6.2.1 Benchtop
6.2.2 Floor Standing
6.3 Market Attractiveness Analysis By Modality
Chapter 7 Global Cooled Incubators Market Analysis and Forecast By Interface
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities By Interface
7.1.2 Basis Point Share (BPS) Analysis By Interface
7.1.3 Absolute $ Opportunity Assessment By Interface
7.2 Cooled Incubators Market Size Forecast By Interface
7.2.1 Digital
7.2.2 Analog
7.3 Market Attractiveness Analysis By Interface
Chapter 8 Global Cooled Incubators Market Analysis and Forecast By Application
8.1 Introduction
8.1.1 Key Market Trends & Growth Opportunities By Application
8.1.2 Basis Point Share (BPS) Analysis By Application
8.1.3 Absolute $ Opportunity Assessment By Application
8.2 Cooled Incubators Market Size Forecast By Application
8.2.1 Hematology
8.2.2 Histology
8.2.3 Microbiology
8.2.4 Others
8.3 Market Attractiveness Analysis By Application
Chapter 9 Global Cooled Incubators Market Analysis and Forecast By End-user
9.1 Introduction
9.1.1 Key Market Trends & Growth Opportunities By End-user
9.1.2 Basis Point Share (BPS) Analysis By End-user
9.1.3 Absolute $ Opportunity Assessment By End-user
9.2 Cooled Incubators Market Size Forecast By End-user
9.2.1 Research Laboratories
9.2.2 Academic Institutes
9.2.3 Pharmaceutical & Biotechnological Companies
9.2.4 Others
9.3 Market Attractiveness Analysis By End-user
Chapter 10 Global Cooled Incubators Market Analysis and Forecast by Region
10.1 Introduction
10.1.1 Key Market Trends & Growth Opportunities by Region
10.1.2 Basis Point Share (BPS) Analysis by Region
10.1.3 Absolute $ Opportunity Assessment by Region
10.2 Cooled Incubators Market Size Forecast by Region
10.2.1 North America
10.2.2 Europe
10.2.3 Asia Pacific
10.2.4 Latin America
10.2.5 Middle East & Africa (MEA)
10.3 Market Attractiveness Analysis by Region
Chapter 11 Coronavirus Disease (COVID-19) Impact
11.1 Introduction
11.2 Current & Future Impact Analysis
11.3 Economic Impact Analysis
11.4 Government Policies
11.5 Investment Scenario
Chapter 12 North America Cooled Incubators Analysis and Forecast
12.1 Introduction
12.2 North America Cooled Incubators Market Size Forecast by Country
12.2.1 U.S.
12.2.2 Canada
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 North America Cooled Incubators Market Size Forecast By Capacity
12.6.1 Below 50L
12.6.2 51L to 100L
12.6.3 Above 101L
12.7 Basis Point Share (BPS) Analysis By Capacity
12.8 Absolute $ Opportunity Assessment By Capacity
12.9 Market Attractiveness Analysis By Capacity
12.10 North America Cooled Incubators Market Size Forecast By Modality
12.10.1 Benchtop
12.10.2 Floor Standing
12.11 Basis Point Share (BPS) Analysis By Modality
12.12 Absolute $ Opportunity Assessment By Modality
12.13 Market Attractiveness Analysis By Modality
12.14 North America Cooled Incubators Market Size Forecast By Interface
12.14.1 Digital
12.14.2 Analog
12.15 Basis Point Share (BPS) Analysis By Interface
12.16 Absolute $ Opportunity Assessment By Interface
12.17 Market Attractiveness Analysis By Interface
12.18 North America Cooled Incubators Market Size Forecast By Application
12.18.1 Hematology
12.18.2 Histology
12.18.3 Microbiology
12.18.4 Others
12.19 Basis Point Share (BPS) Analysis By Application
12.20 Absolute $ Opportunity Assessment By Application
12.21 Market Attractiveness Analysis By Application
12.22 North America Cooled Incubators Market Size Forecast By End-user
12.22.1 Research Laboratories
12.22.2 Academic Institutes
12.22.3 Pharmaceutical & Biotechnological Companies
12.22.4 Others
12.23 Basis Point Share (BPS) Analysis By End-user
12.24 Absolute $ Opportunity Assessment By End-user
12.25 Market Attractiveness Analysis By End-user
Chapter 13 Europe Cooled Incubators Analysis and Forecast
13.1 Introduction
13.2 Europe Cooled Incubators Market Size Forecast by Country
13.2.1 Germany
13.2.2 France
13.2.3 Italy
13.2.4 U.K.
13.2.5 Spain
13.2.6 Russia
13.2.7 Rest of Europe
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Europe Cooled Incubators Market Size Forecast By Capacity
13.6.1 Below 50L
13.6.2 51L to 100L
13.6.3 Above 101L
13.7 Basis Point Share (BPS) Analysis By Capacity
13.8 Absolute $ Opportunity Assessment By Capacity
13.9 Market Attractiveness Analysis By Capacity
13.10 Europe Cooled Incubators Market Size Forecast By Modality
13.10.1 Benchtop
13.10.2 Floor Standing
13.11 Basis Point Share (BPS) Analysis By Modality
13.12 Absolute $ Opportunity Assessment By Modality
13.13 Market Attractiveness Analysis By Modality
13.14 Europe Cooled Incubators Market Size Forecast By Interface
13.14.1 Digital
13.14.2 Analog
13.15 Basis Point Share (BPS) Analysis By Interface
13.16 Absolute $ Opportunity Assessment By Interface
13.17 Market Attractiveness Analysis By Interface
13.18 Europe Cooled Incubators Market Size Forecast By Application
13.18.1 Hematology
13.18.2 Histology
13.18.3 Microbiology
13.18.4 Others
13.19 Basis Point Share (BPS) Analysis By Application
13.20 Absolute $ Opportunity Assessment By Application
13.21 Market Attractiveness Analysis By Application
13.22 Europe Cooled Incubators Market Size Forecast By End-user
13.22.1 Research Laboratories
13.22.2 Academic Institutes
13.22.3 Pharmaceutical & Biotechnological Companies
13.22.4 Others
13.23 Basis Point Share (BPS) Analysis By End-user
13.24 Absolute $ Opportunity Assessment By End-user
13.25 Market Attractiveness Analysis By End-user
Chapter 14 Asia Pacific Cooled Incubators Analysis and Forecast
14.1 Introduction
14.2 Asia Pacific Cooled Incubators Market Size Forecast by Country
14.2.1 China
14.2.2 Japan
14.2.3 South Korea
14.2.4 India
14.2.5 Australia
14.2.6 South East Asia (SEA)
14.2.7 Rest of Asia Pacific (APAC)
14.3 Basis Point Share (BPS) Analysis by Country
14.4 Absolute $ Opportunity Assessment by Country
14.5 Market Attractiveness Analysis by Country
14.6 Asia Pacific Cooled Incubators Market Size Forecast By Capacity
14.6.1 Below 50L
14.6.2 51L to 100L
14.6.3 Above 101L
14.7 Basis Point Share (BPS) Analysis By Capacity
14.8 Absolute $ Opportunity Assessment By Capacity
14.9 Market Attractiveness Analysis By Capacity
14.10 Asia Pacific Cooled Incubators Market Size Forecast By Modality
14.10.1 Benchtop
14.10.2 Floor Standing
14.11 Basis Point Share (BPS) Analysis By Modality
14.12 Absolute $ Opportunity Assessment By Modality
14.13 Market Attractiveness Analysis By Modality
14.14 Asia Pacific Cooled Incubators Market Size Forecast By Interface
14.14.1 Digital
14.14.2 Analog
14.15 Basis Point Share (BPS) Analysis By Interface
14.16 Absolute $ Opportunity Assessment By Interface
14.17 Market Attractiveness Analysis By Interface
14.18 Asia Pacific Cooled Incubators Market Size Forecast By Application
14.18.1 Hematology
14.18.2 Histology
14.18.3 Microbiology
14.18.4 Others
14.19 Basis Point Share (BPS) Analysis By Application
14.20 Absolute $ Opportunity Assessment By Application
14.21 Market Attractiveness Analysis By Application
14.22 Asia Pacific Cooled Incubators Market Size Forecast By End-user
14.22.1 Research Laboratories
14.22.2 Academic Institutes
14.22.3 Pharmaceutical & Biotechnological Companies
14.22.4 Others
14.23 Basis Point Share (BPS) Analysis By End-user
14.24 Absolute $ Opportunity Assessment By End-user
14.25 Market Attractiveness Analysis By End-user
Chapter 15 Latin America Cooled Incubators Analysis and Forecast
15.1 Introduction
15.2 Latin America Cooled Incubators Market Size Forecast by Country
15.2.1 Brazil
15.2.2 Mexico
15.2.3 Rest of Latin America (LATAM)
15.3 Basis Point Share (BPS) Analysis by Country
15.4 Absolute $ Opportunity Assessment by Country
15.5 Market Attractiveness Analysis by Country
15.6 Latin America Cooled Incubators Market Size Forecast By Capacity
15.6.1 Below 50L
15.6.2 51L to 100L
15.6.3 Above 101L
15.7 Basis Point Share (BPS) Analysis By Capacity
15.8 Absolute $ Opportunity Assessment By Capacity
15.9 Market Attractiveness Analysis By Capacity
15.10 Latin America Cooled Incubators Market Size Forecast By Modality
15.10.1 Benchtop
15.10.2 Floor Standing
15.11 Basis Point Share (BPS) Analysis By Modality
15.12 Absolute $ Opportunity Assessment By Modality
15.13 Market Attractiveness Analysis By Modality
15.14 Latin America Cooled Incubators Market Size Forecast By Interface
15.14.1 Digital
15.14.2 Analog
15.15 Basis Point Share (BPS) Analysis By Interface
15.16 Absolute $ Opportunity Assessment By Interface
15.17 Market Attractiveness Analysis By Interface
15.18 Latin America Cooled Incubators Market Size Forecast By Application
15.18.1 Hematology
15.18.2 Histology
15.18.3 Microbiology
15.18.4 Others
15.19 Basis Point Share (BPS) Analysis By Application
15.20 Absolute $ Opportunity Assessment By Application
15.21 Market Attractiveness Analysis By Application
15.22 Latin America Cooled Incubators Market Size Forecast By End-user
15.22.1 Research Laboratories
15.22.2 Academic Institutes
15.22.3 Pharmaceutical & Biotechnological Companies
15.22.4 Others
15.23 Basis Point Share (BPS) Analysis By End-user
15.24 Absolute $ Opportunity Assessment By End-user
15.25 Market Attractiveness Analysis By End-user
Chapter 16 Middle East & Africa (MEA) Cooled Incubators Analysis and Forecast
16.1 Introduction
16.2 Middle East & Africa (MEA) Cooled Incubators Market Size Forecast by Country
16.2.1 Saudi Arabia
16.2.2 South Africa
16.2.3 UAE
16.2.4 Rest of Middle East & Africa (MEA)
16.3 Basis Point Share (BPS) Analysis by Country
16.4 Absolute $ Opportunity Assessment by Country
16.5 Market Attractiveness Analysis by Country
16.6 Middle East & Africa (MEA) Cooled Incubators Market Size Forecast By Capacity
16.6.1 Below 50L
16.6.2 51L to 100L
16.6.3 Above 101L
16.7 Basis Point Share (BPS) Analysis By Capacity
16.8 Absolute $ Opportunity Assessment By Capacity
16.9 Market Attractiveness Analysis By Capacity
16.10 Middle East & Africa (MEA) Cooled Incubators Market Size Forecast By Modality
16.10.1 Benchtop
16.10.2 Floor Standing
16.11 Basis Point Share (BPS) Analysis By Modality
16.12 Absolute $ Opportunity Assessment By Modality
16.13 Market Attractiveness Analysis By Modality
16.14 Middle East & Africa (MEA) Cooled Incubators Market Size Forecast By Interface
16.14.1 Digital
16.14.2 Analog
16.15 Basis Point Share (BPS) Analysis By Interface
16.16 Absolute $ Opportunity Assessment By Interface
16.17 Market Attractiveness Analysis By Interface
16.18 Middle East & Africa (MEA) Cooled Incubators Market Size Forecast By Application
16.18.1 Hematology
16.18.2 Histology
16.18.3 Microbiology
16.18.4 Others
16.19 Basis Point Share (BPS) Analysis By Application
16.20 Absolute $ Opportunity Assessment By Application
16.21 Market Attractiveness Analysis By Application
16.22 Middle East & Africa (MEA) Cooled Incubators Market Size Forecast By End-user
16.22.1 Research Laboratories
16.22.2 Academic Institutes
16.22.3 Pharmaceutical & Biotechnological Companies
16.22.4 Others
16.23 Basis Point Share (BPS) Analysis By End-user
16.24 Absolute $ Opportunity Assessment By End-user
16.25 Market Attractiveness Analysis By End-user
Chapter 17 Competition Landscape
17.1 Cooled Incubators Market: Competitive Dashboard
17.2 Global Cooled Incubators Market: Market Share Analysis, 2020
17.3 Company Profiles (Details - Overview, Financials, Developments, Strategy)
17.3.1 Amerex Instruments, Inc
17.3.2 Andreas Hettich GmbH & Co. KG
17.3.3 BINDER GmbH
17.3.4 Eppendorf AG
17.3.5 Esco Micro Pte. Ltd.
17.3.6 FRANCE ETUVES
17.3.7 Gilson, Inc.
17.3.8 LEEC Limited
17.3.9 Memmert GmbH + Co.KG
17.3.10 PHC Corporation
17.3.11 Scientific Industries, Inc.
17.3.12 Sheldon Manufacturing, Inc.
17.3.13 Thermo Fisher Scientific Inc.
17.3.14 Thomas Scientific
17.3.15 VWR International, LLC.