Carbon Dioxide Incubator Market Research Report 2021-2031
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.
Carbon Dioxide Incubator Market Analysis
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.
Carbon Dioxide Incubator Market Overview
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
Market Size Value in US$ 129.16 Million in 2018 Market Size Value by US$ 238.95 Million by 2027 Growth rate CAGR of 7.1% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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Carbon Dioxide Incubator Market: Strategic Insights
| Market Size Value in | US$ 129.16 Million in 2018 |
| Market Size Value by | US$ 238.95 Million by 2027 |
| Growth rate | CAGR of 7.1% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
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Carbon Dioxide Incubator Market Drivers and Opportunities
Growing Demand for Carbon Dioxide Incubators from Biotechnology and Life Science Sector Favors the Market
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.
Rapid Innovation and Technological Upgradation in Carbon Dioxide Incubator– An Opportunity in the Carbon Dioxide Incubator Market
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.
Carbon Dioxide Incubator Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Carbon Dioxide Incubator market analysis are product, application, and capacity.
- Based on the product, the Carbon Dioxide Incubator market is segmented into Water Jacketed CO2 Incubators, Direct Heat CO2 Incubators, Air Jacketed CO2 Incubators. The Water Jacketed CO2 Incubators held a larger market share in 2023.
- By application, the market is segmented into In Vitro Fertilization, Laboratory Research and Clinical Applications, and Other Applications. The in-vitro fertilization segment held the largest share of the market in 2023.
- By capacity, the market is segmented into Below 100L, Above 100L and Below 200L, Above 200L. The above 200L segment held the major market share in the year 2023.
Carbon Dioxide Incubator Market Share Analysis by Geography
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
Carbon Dioxide Incubator Market Report Scope
Carbon Dioxide Incubator Market News and Recent Developments
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:
- Thermo Fisher Scientific Inc. launched the Heracell Vios CR CO2 Incubator. The incubator is ideal for applications in GMP environments. (Source: Thermo Fisher Scientific, Inc., Press Release/Company Website/Newsletter, October 2021)
- Bellco Glass introduced its new range of 40 cubic feet volume of carbon dioxide incubators. These novel CO2 incubators also consist of a microprocessor temperature controller, safety thermostat, and control panel, which features dials for automatic control of temperature and indicating lights. (Source: Bella Glass, Inc., Press Release/Company Website/Newsletter, January 2021)
- Thermo Fisher Scientific, Inc. designed the cell growth incubator with in-chamber HEPA filtration, on-demand 180°C sterilization and an optional 100% pure copper interior chamber. (Source: Thermo Fisher Scientific, Inc., Press Release/Company Website/Newsletter, January 2021)
Carbon Dioxide Incubator Market Report Coverage and Deliverables
The “Carbon Dioxide Incubator Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product ; Application ; Capacity , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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