An incubator is an equipment utilized for maintaining biological samples such as cell lines or microbial cultures in optimum environment and temperatures. Carbon dioxide incubators fall under major types of incubators, used for offering a stable environment for growth of cell cultures by controlling humidity, temperature, and O2 & CO2 concentrations at an ideal level inside the chamber. Major application areas of carbon dioxide incubators include laboratory research and clinical applications, and in vitro fertilization.
Demand for Carbon Dioxide Incubators to be fuelled by Surging Adoption of Genetically Engineered Products
Surging adoption of genetically engineered products that are effective in therapeutic diagnosis is fuelling demand for tissue and cell culture equipment & supplies, such as carbon dioxide incubators. In addition, several technological advancements and emergence of highly automated instrumentation are supporting researchers in conducting experiments more efficiently. Carbon dioxide incubators are finding extensive applications in cancer research, stem cell research, tissue engineering, embryonic cell research, cultivation of mammalian cells, and neuroscience.
A recently compiled report by Transparency Market Research (TMR) estimates the global carbon dioxide incubators market to ride on a spectacular CAGR throughout the forecast period, 2017 to 2026. The global market for carbon dioxide incubators is estimated to surpass revenues worth US$ 250 Mn by 2026-end.
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APEJ will Remain Fastest Expanding Market for Carbon Dioxide Incubators
Asia-Pacific excluding Japan (APEJ) will continue to be the fastest expanding market for carbon dioxide incubators. This robust expansion of the market in APEJ is primarily attributed to increasing number of research and development facilities in pharmaceutical and biomedical sectors. Several research facilities have been migrated to APEJ countries such as Singapore, India, and South Korea, thereby accelerating demand for incubators. In addition, growing prevalence of crop research in many APEJ countries is further expected to impact demand for carbon dioxide incubators in this region.
Increasing research & development activities in biotechnology and life science sectors has driven the demand for carbon dioxide incubators in North America. Manufacturers in North America are increasingly shifting their focus toward the provision of carbon dioxide incubators based on unique & specific requirements. North America is anticipated to remain the largest market for carbon dioxide incubators, in terms of revenues.
Water Jacketed Carbon Dioxide Incubators to Remain Dominant among Products in the Market
Demand for water jacketed carbon dioxide incubators has witnessed a tremendous surge in biomedical and pharmaceutical industries, on the back of their design improvements and temperature stability. In terms of revenues as well as sales expansion, water jacketed carbon dioxide incubators will remain dominant among products in the market. Revenues from sales of air jacketed carbon dioxide incubators and direct heat carbon dioxide incubators are expected to remain sluggish throughout the forecast period.
As various laboratories and clinics are witnessing a paradigm shift toward automation, demand for carbon dioxide incubators is expected to rise significantly in laboratory research & clinical applications. This application segment is expected to be the major contributor to growth of the market, in terms of revenues. However, revenues from in vitro fertilization application of carbon dioxide incubators are projected to increase at a comparatively higher CAGR than those from laboratory research & clinical application through 2026.
Sales of above 100L & below 200L capacity carbon dioxide incubators will register a relatively higher CAGR than below 100L, and above 200L capacities of carbon dioxide incubators. In addition, sales of above 200L capacity is also expected to register a splendid expansion, and this capacity segment of carbon dioxide incubators will remain the most lucrative over the forecast period.
Key market participants identified in the report include Thermo Fisher Scientific Inc., Panasonic Healthcare Co., Ltd., Eppendorf AG, Sheldon Manufacturing, Inc., BINDER GmbH, Memmert GmbH + Co. KG, Bellco Glass, Inc., LEEC Limited, and Shanghai Boxun Medical Biological Instrument Corp.