Microbial Incubators Market to Reach $508.5 Million Globally by 2032 at 5.2% CAGR: Allied Market Research
The growth in R&D activities in fields, such as biotechnology, pharmaceuticals, and microbiology, and the increased investment in research infrastructure are projected to drive the global microbial incubators market’s growth during the forecast period. The North America region is predicted to witness prominent growth by 2032.
Wilmington, New Castle, Delaware, March 28, 2024 (GLOBE NEWSWIRE) -- Allied Market Research has recently published a report, titled, “Microbial Incubators Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, By End User: Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, the global microbial incubators market generated $315.2 million in 2022, and is anticipated to generate $508.5 million by 2032, rising at a CAGR of 5.2% from 2023 to 2032.
Prime Determinants of Growth
The increasing demand for biopharmaceuticals and the growth in R&D activities in fields, such as microbiology, biotechnology, and pharmaceuticals are the factors expected to drive the growth of the global microbial incubators market in the forecast period from 2023 to 2032. However, the high cost of installation and the lack of awareness regarding microbial incubators may hamper the market growth in the coming future. On the contrary, the increasing emphasis on biopharmaceutical research and the growing investments research infrastructure are expected to offer remunerative opportunities for the expansion of the microbial incubators market during the forecast period.
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Report Coverage & Details:
Report Coverage | Details |
Forecast Period | 2023–2032 |
Base Year | 2022 |
Market Size in 2022 | $315.2 million |
Market Size in 2032 | $508.5 million |
CAGR | 5.2% |
No. of Pages in Report | 310 |
Segments covered | Type, End-user, and Region |
Drivers | Growth in R&D activities in fields, such as microbiology, biotechnology, and pharmaceuticals Growing demand for biopharmaceuticals Rising need for controlled environments for microbial studies |
Opportunities | Increased investment in research infrastructure Growing emphasis on biopharmaceutical research |
Restraints | High costs and lack of awareness |
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Type: Capacity Below 200L Sub-segment to Witness Significant Growth by 2032
The capacity below 200L sub-segment accounted for the largest global microbial incubators market share of 42.4% in 2022 and is expected to hold major share by 2032. This is mainly because these microbial incubators cater to smaller laboratories, research organizations, and entrepreneurs, meeting their specific needs and requirements. With smaller capacities, these incubators are often more affordable compared to larger models, making them attractive to institutions with limited budgets. Additionally, compact equipment is preferred in facilities with limited space, such as academic research centers, small biotech companies, and point-of-care testing facilities.
End-user: Hospitals Sub-segment to Flourish Immensely During the Forecast Period
The hospitals sub-segment accounted for the largest market share of 38.6% in 2022 and dominate in terms of market share by 2032. The sub-segment is expected to rise at the highest CAGR of 5.5% during the forecast period. This dominance is majorly because hospitals often feature specialized microbiology laboratories where patient samples are cultivated and analyzed using microbial incubators. These incubation chambers play a vital role in pathogen identification, antibiotic susceptibility testing, and various diagnostic procedures, contributing to effective patient care and treatment. Additionally, hospitals conduct research to better understand and address infectious diseases, utilizing microbial incubators to provide optimal conditions for the growth and study of microorganisms associated with diverse infectious disorders.
Region: North America Market to Hold Major Share by 2032
The microbial incubators market in the North America region accounted for the largest share of 33.0% in 2022 and is predicted to continue to maintain its dominance in terms of market share during the forecast period. This growth is mainly due to numerous biotechnology and life sciences companies and research institutions in the region. This is fostering significant investments in various industries, including pharmaceuticals, biotechnology, healthcare, and academia. Additionally, government funding and grants for scientific research projects and academic initiatives further boost the purchasing power for laboratory equipment, including microbial incubators. Moreover, the trend towards laboratory automation presents opportunities for manufacturers to develop and market advanced microbial incubators with automated features, catering to the growing need for efficiency and productivity in research and diagnostic laboratories.
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Leading Players in the Microbial Incubators Market:
PHC Corporation
Didac International
Binder
ESCO
Eppendorf Corporate
Sheldon Manufacturing, inc.
Labstac Ltd
Nuaire group
ThermoFisher Inc.
Boekel Scientific
The report provides a detailed analysis of the key players of the global microbial incubators market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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