Refrigerated Incubators Market Size Worth $822.79 Million, Globally, by 2028 at 5.6% CAGR - Exclusive Report by The Insight Partners

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

New York, April 11, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Refrigerated Incubators Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Below 50L, 51–200L, 201–750L, 751–1500L, and Above 1501L) and Application (Hospitals, Research and Diagnostic Laboratories; Pharmaceutical, Cosmeceutical, and Biotechnology Companies; Research & Academic Institutes; and Others)”, the global refrigerated incubators market growth is driven by the rising adoption of refrigerated incubators for research activities that are targeting infectious diseases and increasing technological advancements in refrigerated incubators. However, the availability of alternative incubators hampers the market growth. This report studies the ongoing opportunities and future trends that can have a significant impact on the market growth.

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Report Coverage Details
Market Size Value in US$ 562.36 Million in 2021
Market Size Value by US$ 822.79 Million by 2028
Growth rate CAGR of 5.6% from 2021 to 2028
Forecast Period 2021-2028
Base Year 2021
No. of Pages 153
No. Tables 0
No. of Charts & Figures 0
Historical data available Yes
Segments covered Type, and Application
Regional scope North America; Europe; Asia Pacific; Latin America; MEA
Country scope US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Global Refrigerated Incubators Market: Competition Landscape and Key Developments
Binder GmbH; Thermo Fisher Scientific; PHC Holdings Corp.; Eppendorf AG; Amerex Instruments, Inc.; Sheldon Manufacturing, Inc.; LEEC Ltd.; Memmert GmbH + Co. KG; Benchmark Scientific; and Gilson, Inc. are among the key companies operating in the global refrigerated incubators market. These companies commonly adopt product launches and expansion strategies to expand their footprint worldwide. They also broaden their respective product portfolios to meet the growing demand. The global refrigerated incubators market players offer innovative products to meet constant and changing customer demands worldwide, which also permits them to maintain their brand name globally.

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In February 2022, Thermo Fisher Scientific announced its plans to expand its single-use technology (SUT) manufacturing facility in Millersburg, Pennsylvania by investing over US$ 40 million. The expansion is a part of the company’s $650 million multi-year investment, announced last year, to ensure flexible, scalable, and reliable bioprocessing production capacity for critical materials used in developing new and existing biologics and vaccines, including for COVID-19.

In January 2021, Memmert expanded its Peltier-cooled incubators IPPeco of 1400L and 2200L incubator line by increasing its temperature range from +15 to +60°C to the new 0 to +70°C range to provide better operational flexibility.

Refrigerated incubators are designed to provide a constant cold temperature environment to either promote or prevent the growth of cells, tissue cultures, and other biological samples. Refrigerated incubators are ideal for various applications, such as determination of biochemical oxygen demand (BOD), plant and insect studies, fermentation studies, microbial culturing, water pollution testing, and enzyme digestion studies. The incubators feature a heavy-duty cooling system to optimize airflow and ensure temperature uniformity through programmable controls with audible and visual displays and alarms, a well-insulated cabinet, and a precise temperature control system. PHC’s (Panasonic Healthcare Corp.) BOD Refrigerated Incubators are ideal for biochemical oxygen demand (BOD) applications, wherein the incubator works with a unique circulating air technology that ensures a stable, constant climate in the interior. The compressor enables temperature ranges from –5 to 100°C to maintain the optimum incubation temperature for the proliferation of microorganisms; an occasional cooling cycle or hot air disinfection cycle is also possible. The refrigeration compressor in refrigerated incubators allows both rapid temperature changes and temperatures below 0°C. In many processes, there is a need to switch between heating and cooling phases, which can be done easily through convection technology. The global refrigerated incubators market report aims to develop an understanding of the global market scope and trends that are expected to drive the market in the coming years.

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Based on type, the global refrigerated incubators market is segmented into below 50L, 51–200L, 201–750L, 751–1500L, and above 1501L. The 51–200L segment held the largest share of the global market in 2021 and is expected to continue its dominance during the forecast period. Also, the same segment is expected to register the highest CAGR during the forecast period. The rising number of product launches and technology developments by market players are driving the market growth for the segment.

The threat of spreading infectious diseases results in various economic and social risks. With the increasing number of pandemics and epidemics (whether naturally occurring or human-initiated), there is a high cost associated with the medical treatment and outbreak control. The expected per annum cost of the influenza pandemic created a significant cost burden on the healthcare system accounting for ~US$ 500 billion (0.6% of global income), as per the estimates by Frontiers SA report. Several countries globally have focused on R&D activities to control such drastic impacts of infectious diseases on global economies. In August 2020, the US National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institute of Health, announced 11 grants with a total first-year value of ~US$ 17 million for establishing the Centers for Research in Emerging Infectious Diseases (CREID). These research projects are focused on surveillance studies to identify previously unknown causes of febrile illnesses in humans, find animal sources of viral or other disease-causing pathogens, and determine genetic or other changes that make these pathogens capable of infecting humans. Various other research projects are being undertaken by research investigators, which will be poised to study newly emerging pathogens in different regions.

A Public Library of Science (PLOS) report states that accurate results from public health laboratories are dependent on specimens arriving in good conditions. Most specimens shipped from a collection site to a testing laboratory facility must be maintained at refrigeration temperatures for specimen stability. Therefore, keeping specimens at the appropriate temperature is critical for laboratory sample integrity and testing results, especially in cases where a cold temperature is required.

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Similarly, a Frontiers SA report states that bloodstream infections (BSI) substantially impact morbidity and mortality globally. For example, it is estimated that the global mortality due to nontyphoidal Salmonella BSI among children under age 5 is higher compared to malaria. Therefore, an accurate diagnosis of such life-threatening infections is highly required. So, laboratory processing of blood culture can be done successfully without substantial costs and complicated equipment. Incubation and growth monitoring automation has become the standard in high-income countries (HICs). The collection of blood for blood culture is a vital step in the process due to blood culture sensitivity and volume sampled. All these factors would bolster the adoption of refrigerated incubators intended for research purposes in the future.

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