“Global Microbial Incubators Market to reach a market value of USD 474 Million by 2031 growing at a CAGR of 5.1%”
The Global Microbial Incubators Market size is expected to reach $474 million by 2031, rising at a market growth of 5.1% CAGR during the forecast period.
Europe is home to renowned biomedical research centers, universities, and academic institutions conducting groundbreaking research in various scientific disciplines, including microbiology, and biotechnology. Therefore, the Europe region would capture 30.65% revenue share in the market by 2031. Companies like Novartis in Switzerland, AstraZeneca in the UK, and Sanofi in France are among those investing in these incubators to advance their research in areas such as oncology, infectious diseases, and metabolic disorders.
The increasing research and development (R&D) activities in biotechnology, pharmaceuticals, and food and beverage industries are key drivers for the rising demand for these incubators. Thus, the market is expected to grow as these industries expand their R&D activities. Additionally, the microbiome refers to the trillions of microorganisms in and on the human body. These microorganisms play a crucial role in various aspects of health, including digestion, immunity, and even mental health. Thus, the growing awareness of microbiome research and its implications for human health drives the demand for these incubators.
The COVID-19 pandemic significantly impacted various industries, including the these incubators market. Pharmaceutical companies, biotechnology firms, and academic institutions ramped up their vaccine research and production activities, leading to higher demand for these incubators tailored for vaccine development and production processes. Thus, the COVID-19 pandemic positively impacted the market.
However, Adequate funding is essential for innovation in microbial incubator technology. Manufacturers may face difficulties developing and commercializing advanced incubators with improved features and functionalities without sufficient resources. Without adequate support, researchers and organizations in these regions may struggle to acquire these incubators, slowing down scientific advancements and innovation on a global scale. Therefore, limited funding for research can hinder the market by impeding R&D activities.
Based on type, the market is segmented into capacity 200L-400L, capacity above 400L, and capacity below 200L. In 2023, the capacity 200L-400L segment recorded 33.52% revenue share in the market. These mid-sized incubators offer ample space for accommodating a substantial quantity of culture vessels, such as Petri dishes, flasks, and test tubes, enabling simultaneous cultivation of multiple microbial strains or experiments.
Based on end user, the market is classified into hospitals, laboratories, and others. The laboratories segment recorded 32.88% revenue share in the market in 2023. Laboratories utilize these incubators for various applications, including microbiology, molecular biology, environmental monitoring, and more. The laboratories segment represents a diverse array of research institutions, academic laboratories, clinical laboratories, and industrial research facilities.
Free Valuable Insights: Global Microbial Incubators Market size to reach USD 474 Million by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment garnered 34.43% revenue share in market in 2023. The regional market benefits from a robust research ecosystem, strong healthcare infrastructure, and diverse industries requiring microbiological testing and research services. North American universities, colleges, and educational institutions play a vital role in training the next generation of scientists, healthcare professionals, and researchers.
Report Attribute | Details |
---|---|
Market size value in 2023 | USD 322.2 Million |
Market size forecast in 2031 | USD 474 Million |
Base Year | 2023 |
Historical Period | 2020 to 2022 |
Forecast Period | 2024 to 2031 |
Revenue Growth Rate | CAGR of 5.1% from 2024 to 2031 |
Number of Pages | 186 |
Number of Tables | 260 |
Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
Segments covered | Type, End User, Region |
Country scope |
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Companies Included | Thermo Fisher Scientific, Inc., Boekel Scientific, Inc., PHC Holdings Corporation, Eppendorf SE, Labstac LLC, Sheldon Manufacturing, Inc., Binder GmbH, Esco Micro Pte. Ltd., Didac International, NuAire, Inc. |
By End User
By Type
By Geography
This Market size is expected to reach $474 million by 2031.
Increasing research and development activities are driving the Market in coming years, however, Limited funding for research and development restraints the growth of the Market.
Thermo Fisher Scientific, Inc., Boekel Scientific, Inc., PHC Holdings Corporation, Eppendorf SE, Labstac LLC, Sheldon Manufacturing, Inc., Binder GmbH, Esco Micro Pte. Ltd., Didac International, NuAire, Inc.
The expected CAGR of this Market is 5.1% from 2024 to 2031.
The Hospitals segment is leading the Market by End User in 2023, thereby achieving a market value of $176.4 million by 2031.
The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $156.4 million by 2031.
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