Market Trends of Carbon Dioxide Incubator Industry
This section covers the major market trends shaping the Carbon Dioxide Incubator Market according to our research experts:
In Vitro Fertilizations by Application Segment are Expected to Dominate the Market During the Forecast Period
In vitro fertilization is an assistive reproductive technology, which involves the process of fertilization by retrieving eggs from the woman's ovaries and fertilizing them with sperm outside the body, under a laboratory environment. The fertilization occurs outside of the body in an incubator under controlled conditions. The most commonly used environmental conditions for human IVF incubators are 5% CO2 in the air, 37°C, and 100% relative humidity. The increasing awareness of advanced in vitro fertilization (IVF) techniques, rising success rates of IVF, and disorders due to the delayed onset of pregnancy have stimulated the demand for in vitro fertilization, thereby boosting the demand for CO2 incubators across the world.
The proportion of women who are intentionally delaying pregnancies beyond the age of 35 years has been increasing in the past few years. According to the Center for Disease Control and Prevention (CDC), about 10% of women (6.1 million) in the United States aged between 15 -44 have difficulty in getting pregnant or staying pregnant each year. Also, a study by the Hebrew University of Jerusalem revealed that sperm counts for men have more than halved over the last 40 years. As per the UN World Fertility report 2019, rapid fertility declines were observed in 77 countries globally and areas where adolescent fertility declined by more than 50% between 1990-1995 and 2015-2020. In such cases, a CO2 incubator is necessary to maintain an optimal environment for cell growth by providing carbon dioxide control in a humidified atmosphere with a constant temperature. Thus, the aforementioned statistics indicate the high demand for carbon dioxide incubators in the coming future.
North America Accounted for the Largest Market Share of the Carbon Dioxide Incubators Market
North America accounted for the largest market share, which is attributed to the increasing research and development activities in the life science and biotechnology sectors and manufacturers in the carbon dioxide market focusing on offering the products on the basis of the specific and unique requirements. As per the SingleCare online Survey, conducted in October 2020, 20% of the respondents received in vitro fertilization (IVF) in the United States. Additionally, 19% of the respondents reported polycystic ovarian syndrome(PCOS), and 25% reported unknown reasons for infertility. Thus, the high incidence of infertility is driving the studied market growth.
Moreover, the strong foothold of key market players in the North American region is also likely to fuel the regional market growth. Thermo Fisher Scientific Inc., Panasonic Healthcare Co Ltd., Binder GmbH, and Bellco Glass are few major players operating in the arena of North American carbon dioxide incubators market share. In January 2019, 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 temperature and indicating lights. Such products launches will help the regional market to grow at a faster pace.
