Refrigerator Incubator Market Analysis and Forecast to 2032: By Type (50L, 51L-200L, 201-750L, 751-1500L, Above 1501L), Application (Hospital, Research Laboratories & Academic Institutes, Pharmaceutical & Biotechnology Companies, Others), and Region

Refrigerator Incubator Market Analysis and Forecast to 2032: By Type (50L, 51L-200L, 201-750L, 751-1500L, Above 1501L), Application (Hospital, Research Laboratories & Academic Institutes, Pharmaceutical & Biotechnology Companies, Others), and Region

The refrigerator incubator market was valued at USD 562.3 million in 2022 and it is anticipated to grow further till USD 1204 million by 2032, at a CAGR of 7.9% during the forecast period.

Refrigerator incubators are used to provide a constant cold temperature environment to promote or prevent the growth of cells, tissue cultures, and other biological samples. The incubators are ideal for various applications such as BOD determinations, plant and insect studies, fermentation studies, bacterial cultures, water pollution testing, and enzyme digestion studies.
Global Refrigerator Incubator Market Scope and Report Structures
Market Trends and Drivers
Sales of refrigerated incubators are anticipated to increase during the forecast period as a result of technological advancements and current market trends, including password-protected settings, door opening alarms, auto decontamination cycles, self-calibration, pre-set alarms, over-temperature alarms, and thermostats, as well as safe, reproducible incubation even at high ambient temperatures.
Market Restraints and Challenges
The availability of alternative incubators in the market is anticipated to hinder the growth of the market.

Global Refrigerator Incubator Market Segmental Overview
The global refrigerator incubator market is segmented into type, application, and region.

Global Refrigerator Incubator Market by Type

Based on the type, it is segmented into 50L, 51L-200L, 201-750L, 751-1500L, and Above 1501L The 51L-200L is anticipated to dominate the market during the forecast period. Powerful and incredibly effective portable equipment, 51-200L refrigerated incubators have an internal blower to prevent thermal layering and maintain a constant temperature. Through real-time control, such incubators lessen everyday physical labour and repetitive actions on the equipment. Applications for 51-200L refrigerated incubators include accelerating ageing tests, determining germ count, growing biological specimens above and below room temperature, and performing microbiological analysis.

Global Refrigerator Incubator Market by Application

Based on the application, it is segmented into hospitals, research laboratories & academic institutes, pharmaceutical & biotechnology companies, others. The hospital application segment is anticipated to dominate the market during the forecast period. The growing demand for technologically advanced products in developed and developing economies is boosting the growth of the segment.
Geographical Analysis of the Global Refrigerator Incubator Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North America region is anticipated to dominate the market during the forecast period. Due to factors such the rising incidence of infectious diseases, the growing geriatric population, and the rising number of product approvals, North America is predicted to lead the market. The number of Americans 65 and older, for instance, is projected to nearly double from 52 million in 2018 to 95 million by 2060, according to the Bureau's Population Bulletin (PBA), and the total percentage of the population will rise from 16 percent to 23 percent. The older population is more susceptible to infectious diseases, according to data from the Centers for Disease Control and Prevention that were released in October 2021. The 2019–2020 flu season was characterised by 35 million flu-related illnesses, 380,000 flu-related hospitalizations, 20,000 flu-related fatalities, and 16 million flu-related doctor visits.
Major Players in the Global Refrigerator Incubator Market
The key players studied in the report are Binder GmbH, Thermo Fisher Scientific, PHC Holdings Corporation, Eppendorf AG, Amerex Instruments, Inc., Sheldon Manufacturing, Inc., LEEC Ltd., Memmert GmbH + Co. KG, Benchmark Scientific, and Gilson, Inc., among others.
COVID-19 Impact
The medical and healthcare communities have been severely tested and stretched to their limits by COVID-19. Hospitals struggle as the disease spreads more quickly than the industry can create PPE and provide the essential medical supplies. However, COVID-19 provides the medical device sector with a number of other difficulties as well, including supply. One of the industries that contributes significantly behind the scenes to the fight against the coronavirus (COVID-19) pandemic is the cooling industry. It takes care of keeping patients and caregivers safe and comfortable in both conventional healthcare facilities and emergency hospitals set up in hallways, parking lots, and other public spaces. It also ensures that the proper temperature is maintained and that medicines are transported and stored safely. For pharmaceutical products to adhere to industry rules and pharmaceutical safety requirements, strict temperature control and monitoring are necessary. Despite COVID-19's fatal effects, the market for chilled incubators has seen a huge uptick.
Recent Developments

November 2021 Engineers of PHC Corporation, a subsidiary of global healthcare company PHC Holdings Corporation, have received two awards at the 2021 Kanto Regional Commendation for Invention for the company’s PHCbi-branded ultra-low temperature freezers which are widely used around the world in the development and storage of COVID-19 vaccines.
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.

Frequently Asked Questions
Q1. How big is the Refrigerator Incubator market?

Ans. The global Refrigerator Incubator market size was USD 562.3 million in 2022 and it is anticipated to grow further till USD 1204 million by 2032, at a CAGR of 7.9% from 2023 to 2032.

Q2. What is the Refrigerator Incubator market growth rate?

Ans. The growth rate of the Refrigerator Incubator market is 7.9%.

Q3. Which region holds a major market share for the Refrigerator Incubator market?

Ans. North America holds a major market share of the Refrigerator Incubator market in 2021.

Q4. Which segment accounted for the largest Refrigerator Incubator market share?

Ans. By application, the hospitals segment accounted for the largest Refrigerator Incubator market share.

Q5. Who are the key players in the Refrigerator Incubator market?

Ans. The global Refrigerator Incubator market report includes players such as Binder GmbH, Thermo Fisher Scientific, PHC Holdings Corporation, Eppendorf AG, Amerex Instruments, Inc., Sheldon Manufacturing, Inc., LEEC Ltd., Memmert GmbH + Co. KG, Benchmark Scientific, and Gilson, Inc., among others.

Q6. What are the factors driving the Refrigerator Incubator market growth?

Ans. The major factors driving the growth of the market are the growing healthcare market in emerging countries.

Q7. What are the key growth strategies of Refrigerator Incubator market players?

Ans. The key growth strategies of Refrigerator Incubator market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the Refrigerator Incubator market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the Refrigerator Incubator market during the forecast period.

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