The Carbon Dioxide Incubator (CO2) Market size is projected to reach US$ 294.17 million by 2031 from US$ 169.94 million in 2023. The market is expected to register a CAGR of 7.1% in 2023–2031. The market growth can be attributed to rapid growth in the life sciences sector along with the rise in investment in the biotechnology and life science sector, and rising awareness related to the benefits of carbon dioxide in the research sector.
The rapidly growing life sciences and biotechnology sector and technological advancement in carbon dioxide incubators are the major factors driving the market growth. Additionally, rapid innovation in automation along with the rapid adoption of these incubators for the storage and growing of cells such as stem cells, embryonic cells, and mammalian cell cultivation among researchers are also expected to drive the growth of the market.
North America is the largest market for Carbon Dioxide Incubator market growth with the US holding the largest market share followed by Canada. The North America Carbon Dioxide Incubators Market is driven by the rising demand for carbon dioxide incubators by laboratories in North American countries as these incubators are designed to provide a controlled environment for cell culture and tissue engineering applications. Increasing demand for these incubators is also due to their various advantages such as maintaining optimal conditions, including humidity, temperature, and carbon dioxide levels, to support the growth and viability of cells, tissues, and microorganisms for research, clinical, and industrial activities in North America.
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Carbon Dioxide Incubator Market: Strategic Insights
There has been a rising demand for carbon dioxide incubators from life sciences as well as biotechnology sectors. These sectors rely heavily on these incubators for maintaining a controlled environment of cells that are used for research activity. Co2 incubators are an important tool for maintaining temperature, humidity and CO2 level to support cell culture viability. Additionally, escalating R&D spending and the pivotal role of these incubators for cutting-edge research in these sectors further act as a catalyst for the CO2 incubator market.
Furthermore, cell-based therapies are also gaining traction, as these therapies require CO2 incubators. These therapies use CO2 incubators to treat diseases and also rely on the maintenance of cell viability and function. Hence, the rising demand for CO2 incubators for cell-based therapies is further boosting the overall market growth.
Enhanced temperature control system and gas control systems along with data logging with remote monitoring capabilities are a few features being upgraded in current CO2 incubators. These enhancements not only cater to the rising need for researchers but also contribute to market expansion. The incubators were also used during the coronavirus outbreak. A carbon dioxide incubator was used to store coronavirus samples. For example, BINDER CO2 incubators capable of heating up to 180°C are being used to reproduce severe infections on human cells to deliver new insights into SARS-CoV-2 infection. Thus, the rising adoption of these incubators is expected to propel the overall market growth.
Key segments that contributed to the derivation of the Carbon Dioxide Incubator market analysis are product, application, and capacity.
The geographic scope of the Carbon Dioxide Incubator Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. North America dominated the carbon dioxide incubator Market. The market growth can be attributed to increasing research and development activities in the life science and biotechnology sectors and the presence of major manufacturers in the market focusing on product offerings. For instance, the strong foothold of companies such as Thermo Fisher Scientific, Inc. in the US is also likely to fuel the regional market growth. For instance, in May 2021, Thermo Fisher Scientific Inc. unveiled the Thermo Scientific Heracell Vios CR CO2 Incubator that delivers performance reliability, uniformity of conditions, and ease of use to support a range of demanding cell culture applications. Such product launches will help the regional market to grow at a faster pace
The regional trends and factors influencing the Carbon Dioxide Incubator Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Carbon Dioxide Incubator Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 169.94 Million |
| Market Size by 2031 | US$ 294.17 Million |
| Global CAGR (2023 - 2031) | 7.1% |
| Historical Data | 2021-2022 |
| Forecast period | 2023-2031 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Carbon Dioxide Incubator Market 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.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Carbon Dioxide Incubator Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Carbon Dioxide Incubator Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for Carbon Dioxide Incubator: