Global Refrigerated Incubators Market Size (2024 - 2029)

Global Refrigerated Incubators Market Analysis

The Global Refrigerated Incubators Market size is estimated at USD 656.64 million in 2024, and is expected to reach USD 862.28 million by 2029, growing at a CAGR of 5.60% during the forecast period (2024-2029).

The refrigerated incubators market is expected to grow over the forecast period due to factors such as the rising adoption of refrigerated incubators for research activities targeting infectious diseases and increasing technological advancements in refrigerated incubators.

Research related to infectious diseases has been advancing, which is expected to create more demand for refrigerated incubators to maintain the optimum temperature required for specific reagents, microorganisms, etc., involved in the research. For instance, in September 2023, the University of Chicago received federal support with funding of USD 12.4 million from the National Institute of Allergy and Infectious Disease (NAID) to support research activities and studies in emerging infectious diseases. Such wide-scale research programs are expected to increase the demand for refrigerated incubators to maintain the optimum temperature of the microbes under study.

Additionally, technological advancements and the latest trends in the refrigerated incubator market, such as password-protected settings, door opening alarms, auto decontamination cycles, self-calibration, pre-set alarms, over-temperature alarms, and thermostats, safe, reproducible incubation, and even at high ambient temperatures are expected to drive the sales of refrigerated incubators during the forecast period. For instance, the new refrigerated incubators offered by Thermo Scientific, including Heratherm Refrigerated Incubators, Peltier Low-Temperature Incubators, and Precision Plant Growth Chambers, utilize powerful compressor technology. The technology is designed to provide optimal temperature conditions for applications that need thermal stability and uniformity above, around, or below the usual ambient laboratory temperature.

Moreover, the new product launches and strategic activities by major players in the market are positively affecting the growth of the market studied. For instance, in September 2023, Esco Lifesciences introduced the refrigerated incubator Isotherm, which was incorporated with pre-heat chamber technology, microprocessor PID technology, auto-defrost system, and other advanced features. It was available in various sizes, including 110 l, 170 l, and 240 l.

Therefore, owing to the aforementioned factors, including the increasing research and technological advancements of refrigerated incubators, the market studied is anticipated to witness growth during the forecast period. However, the availability of alternative incubators is likely to impede market growth.

Global Refrigerated Incubators Industry Segmentation

As per the scope of the report, refrigerated incubators and cooled incubators are designed to maintain a consistent temperature based on cooling requirements for research. Typical temperature settings range from -50°C to 65°C based on varying convection types. The refrigerated incubators market is segmented by type, application, and geography. By type, the market is segmented into 50 l, 51 to 200 l, 201 to 750 l, 751 to 1,500 l, and above 1,501 l. By application, the market is segmented into hospitals, research laboratories and academic institutes, and pharmaceutical and biotechnology companies. By geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. For each segment, the market size is provided in terms of value (USD).