Market Size of Carbon Dioxide Incubator Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.90 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Carbon Dioxide Incubator Market Analysis
The carbon dioxide incubator market is expected to witness a CAGR of 7.9% over the forecast period.
The coronavirus outbreak is continuing to spread, with countries seeing a rise in the number of those affected. While most cases are mild, the virus has a fatality rate of between one and two percent. Scientists are working hard to develop a vaccine and relying on incubators as weapons in the fight. Cabron dioxide incubator is being used to store coronavirus samples to be retrieved whenever necessary and investigated to gain insights into this new respiratory disease. For example, some BINDER CO2 incubators capable of heating up to 180°C are already being used to reproduce dangerous infections on human cells to deliver new insights into SARS-CoV-2 (which causes coronavirus). Thus, the COVID-19 pandemic is expected to have a tremendous impact on the growth of the studied market.
The carbon dioxide incubator market is expected to show rapid growth due to the growing prevalence of infectious and chronic diseases, technological advancement in carbon dioxide incubator devices, and rising interest in stem cell and vaccine research.
Rapid innovation in automation along with the increasing investment in research and development in the biotechnology and life science sector from both government and private players and increasing awareness about the benefits associated with the carbon dioxide incubators among researchers are also expected to drive the growth of the market.
Carbon dioxide incubators are most prominently utilized in pharmaceutical, medical, and other related fields. This device is mostly used in the development of tissue-engineered products. For instance, at the University of Zurich, the Swiss Center for Regenerative Medicines (SCRM) utilizes CO2 incubators for research therapies based on tissue engineering, which comprises cell clusters and tissues. Also, it enables the growth of blood vessels and heart valves grown from stem cells. Such studies conducted by various research institutes and government organizations will create lucrative opportunities in the market, thereby supplementing the market growth.
In addition, the technological advancement in carbon dioxide incubators devices is considered the driver for the growth of the market. Moreover, the growing prevalence of crop and agriculture research in many regions is further expected to fuel the market's growth. However, factors such as limitations associated with carbon dioxide incubators are likely to impede the market growth over the forecast period.
