LONDON--(BUSINESS WIRE)--The global CO2 incubators market size is poised to grow by USD 100.29 million during 2020-2024, progressing at a CAGR of over 8% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
Cell culture plays a vital role in cancer research, protein therapeutics, and vaccine production. Also, it is important to maintain a sterile environment and natural condition of these cells while conducting cell culture. This results in an increased demand for CO2 incubators in many laboratories as it helps to maintain optimal levels of CO2 and oxygen required for cell and tissue growth during experiments. The growth of the life science sector will be one of the major factors that will drive CO2 incubator market growth.
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- The major CO2 incubators market growth came from the biotechnology and pharmaceutical companies segment. A large number of companies are focusing on research and development activities associated with the accuracy and precision of drug discovery and development. This is resulting in increased adoption of lab incubator equipment such as CO2 incubators as they aid in maintaining the temperature, humidity, and CO2 levels and provide a contamination-free environment during cell culture. This will subsequently drive carbon dioxide incubator market growth in the biotechnology and pharmaceutical segment.
- APAC was the largest CO2 incubator market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The increasing focus of several companies towards outsourcing their research and testing facilities will significantly drive CO2 incubator market growth in this region over the forecast period.
- The global CO2 incubators market is fragmented. BMT USA LLC, Cardinal Health Inc., Eppendorf AG, Memmert GmbH + Co.KG, N-Biotek Inc., NuAire Inc., PHC Holdings Corp., Sartorius AG, Sheldon Manufacturing Inc., and Thermo Fisher Scientific Inc. are some of the major market participants. To help clients improve their market position, this CO2 incubators market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the CO2 incubators market 2020-2024 is expected to have Neutral and At par growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/report/co2-incubator-market-industry-analysis
Increase in GMOs will be a Key Market Trend
The increase in GMOs, one of the critical CO2 incubator market trends, will also drive market growth. GMO crops manufacturers are working on enhancing agricultural productivity and minimizing the application of environmentally harmful pesticides by developing genetically modified crops. Additionally, they are also focusing on the production of new GM crops that offer high tolerance to pesticides such as cowpea and beans and herbicides such as vitamin A-fortified rice and wheat. This, in turn, results in an increased demand for laboratory incubator equipment such as carbon dioxide incubators that are used for creating an environment at a molecular level.
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CO2 incubators Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist CO2 incubators market growth during the next five years
- Estimation of the CO2 incubators market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the CO2 incubators market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of CO2 incubators market vendors
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- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End user
- Market segments
- Comparison by End user
- Biotechnology and pharmaceutical companies - Market size and forecast 2019-2024
- Research and clinical laboratories - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by End user
- Customer landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- BMT USA LLC
- Cardinal Health Inc.
- Eppendorf AG
- Memmert GmbH + Co.KG
- N-Biotek Inc.
- NuAire Inc.
- PHC Holdings Corp.
- Sartorius AG
- Sheldon Manufacturing Inc.
- Thermo Fisher Scientific Inc.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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