Refrigerated Incubators Market Outlook and Strategic Insights by 2028

The refrigerated incubators market is projected to reach US$ 822.79 million by 2028 from US$ 562.36 million in 2021; it is expected to grow at a CAGR of 5.6% from 2021 to 2028. 

High adoption of refrigerated incubators by the research centers or laboratories drives the market growth. In the medical sector, working with microorganisms plays a critical role. Efficiently producing and multiplying microorganisms require a stable incubation phase. With the advent of technology, researchers have shifted toward the utility of advanced technology-based incubators or equipment aiming at energy-efficient consumption compared to traditional cooling incubators. For example, the use of cooling incubators at research centers, pharmaceutical and biotechnology centers, and laboratories is high as it reduces energy consumption and minimizes uneven temperature distribution. Also, several top competitive players, such as Binder GmBH, design refrigerated incubators with unique features, such as a compression-refrigeration unit, ensuring a constant temperature flow. Also, the refrigerated incubators work with a particular conventional technology providing a stable and continuous temperature inside the incubator chamber.

Further, with the high advancements and growth in the field of biology through the influx of pharmaceuticals, zoology, microbiology, genetics, and ecology, the requirement for advanced technology-based refrigerated incubators is all-time high. Top competitive players, such as Being Scientific Inc., offer advanced technology-based refrigerated incubators to facilitate the growth and storage of biological specimens. Also, the company's product offerings have high shift or focus towards designing of advanced technology-based refrigerated incubators comprising critical applications. These include Biological Oxygen Demand (BOD), effective for wastewater testing having high applicability in microbiology labs, cell biology labs, and pharmaceutical labs proving effective for the storage of drugs and biological specimens. Therefore, rising R&D activities and top players contributing to innovative product launches related to refrigerated incubators result in high acceptance worldwide. Such activities further propel sales across the global refrigerated incubators market.

Customize This Report To Suit Your Requirement

You will get customization on any report - free of charge - including parts of this report, or country-level analysis, Excel Data pack, as well as avail great offers and discounts for start-ups & universities

Get FREE CUSTOMIZATION

Refrigerated Incubators Market: Strategic Insights

• Get Top Key Market Trends of this report.
  This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.

Free Sample PDF

The rising adoption of refrigerated incubators and increasing government funding targeting R&D activities would offer lucrative opportunities for the global refrigerated incubators market during the forecast period. The Public Library of Science (PLOS) report states that in the past few years, numerous challenges have been witnessed related to tackling emerging infectious diseases, particularly anti-microbial resistance (AMR), and neglected diseases (NDs). For example, the Consultative Expert Working Group (CEWG) focuses on R&D financing, and coordination at the World Health Organization (WHO) suggested searching for alternatives related to funding and incentivizing R&D for both innovation and access to emerging infectious diseases. For records, CEWG and Lancet Commission announced global healthcare funding of US$6 billion annually for Anti-microbial Resistance (AMR) and US$10 billion for emerging infections. Therefore, with rising R&D activities targeting emerging infectious diseases and AMR, the adoption of refrigerated incubators has drastically increased over the years.

Currently, manufacturers are channeling funds for research and development activities to introduce cost-effective and sophisticated refrigerated incubator-based products worldwide. Top competitive players, such as Thermo Fischer Scientific, announced the launching of new refrigerated incubators in regional markets, such as Europe, Asia Pacific, and Latin America. The systems are capable of wide application in pharmaceutical, life sciences, water treatment, microbiological industry, and BOD testing. Such aforementioned factors would bolster the growth of the global refrigerated incubators market during 2021–2028.

North America is likely to dominate the global refrigerated incubators market during 2021–2028. The US holds the largest market share in this region. According to the Clinical Trials.gov report, the New York Stem Cell Foundation (NYSCF) conducts research for studying different conditions and diseases by utilizing stem cells and other types of cells, conducting research on biological specimens/samples, performing genetic testing, and storing these samples for short duration intended for future use. Additionally, researchers at the US laboratories are creating pancreatin insulin-producing cells to identify Type 1 diabetes, brain cells, and Parkinson's disease. Such factors highly support the adoption of refrigerated incubators in the US laboratories. Further, in the US alone, there are more than 40,000 individual research laboratories located on university campuses involved in advancing the field of biological and biomedical sciences. The research comprises extensive biological samples from clinical and field studies, representing enormous scientific and financial value for the researchers and organizations, such as biotech/pharma companies, biobanks, research institutes, and universities. Such aforementioned factors are expected to propel the global refrigerated incubators market growth during the forecast period.

Application Insights

Based on application, the global refrigerated incubators market is segmented into hospitals, research and diagnostic laboratories; pharmaceutical, cosmeceutical, and biotechnology companies; research and academic institutes; and others. The hospitals, research and diagnostic laboratories segment is estimated to account for the largest market share during 2021–2028. Hospitals play a significant role in offering an extensive range of medical services to the patients suffering from various diseases. Therefore, the increasing adoption of refrigerated incubators in hospitals is high owing to the rising prevalence of chronic infections and better treating complex disorders. Moreover, in research & diagnostic laboratories, there is significant adoption of such incubators as storing samples requires different types of refrigerated incubators. Thus, aforementioned factors would drive the global refrigerated incubators market growth for this segment during 2021–2028.

Companies operating in the global refrigerated incubators market adopt the product innovation strategy to meet the evolving customer demands worldwide, which also permits them to maintain their brand name in the global market.

Refrigerated Incubators Market Regional Insights

The regional trends and factors influencing the Refrigerated Incubators Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Refrigerated Incubators Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Refrigerated Incubators Market Report Scope

Refrigerated Incubators Market Players Density: Understanding Its Impact on Business Dynamics

The Refrigerated Incubators Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Global Refrigerated Incubators Market – Segmentation

Based on type, the global refrigerated incubators market is segmented into below 50L, 51–200L, 201–750L,751–1500L, and above 1501L. By application, the market is segmented into hospitals, research and diagnostic laboratories; pharmaceutical, cosmeceutical, and biotechnology companies; research and academic institutes; and others. Based on geography, the global refrigerated incubators market is primarily segmented into North America, Europe, Asia Pacific, Middle East and Africa (MEA), and South and Central America. The market in North America is further segmented into the US, Canada, and Mexico. The European refrigerated incubators market is subsegmented into France, Germany, the UK, Spain, Italy, and the Rest of Europe. The market in Asia Pacific is subsegmented into China, India, Japan, Australia, South Korea, and the Rest of APAC. The refrigerated incubators market in the MEA is further segmented into Saudi Arabia, the UAE, South Africa, and the Rest of MEA. The market in South and Central America is subsegmented into Brazil, Argentina, and the Rest of South and Central America.

Company Profiles

• Binder GmbH
• Thermo Fischer Scientific Inc.
• PHC Holding Corporation
• Eppendorf AG
• Amerex Instruments, Inc.
• Sheldon Manufacturing, Inc.
• LEEC Ltd.
• Memmert GmbH+ Co. KG
• Benchmark Scientific
• Gilson Inc.