North America Refrigerated Incubators Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type and Application

The North America refrigerated incubators market is expected to grow from US$ 234.43 million in 2021 to US$ 340.64 million by 2028; it is estimated to grow at a CAGR of 5.5% from 2021 to 2028.

The outbreak of infectious diseases can cause various economic and social risks. During the pandemics and epidemics (whether naturally occurring or human-initiated), the costs associated with the health system related to medical treatment and outbreak control are high. For example, the expected per annum cost of the influenza pandemic created a significant cost burden on the healthcare system, accounting for ~US$ 500 billion as per the estimates by Frontiers S.A. report. Several countries across the region have focused on research and development activities to control the drastic impact of infectious diseases on the economy. The Public Library of Science (PLOS) report states that accurate results from public health laboratories are dependent on specimens arriving in good conditions. Many specimens shipped from the collection site to the testing laboratory facility must be maintained at refrigeration temperatures (between 20 C and 800 C) for specimen stability. Therefore, keeping specimens at the appropriate temperature is critical for laboratory sample integrity and testing results, especially in cases where the cold temperature is required. The Frontiers S.A. report states that bloodstream infections (BSI) substantially impact morbidity and mortality. For example, it is estimated that the mortality due to nontyphoidal Salmonella BSI among children under age 5 is higher that it is due to malaria. Therefore, an accurate diagnosis of such life-threatening infections is highly required. So, laboratory processing of blood culture can be done successfully without enormous costs and complicated equipment. For example, incubation and growth monitoring automation has become the standard in high-income countries (HICs). The collection of blood for blood culture is a vital step in the process due to blood culture sensitivity and volume sampled. Such aforementioned factors support the high adoption of refrigerated incubators intended for research purposes on a large scale in the future, thereby driving the market growth.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America refrigerated incubators market in the coming years. The market is expected to grow at a good CAGR during the forecast period.

North America Refrigerated Incubators Market Segmentation

The North America refrigerated incubators market is segmented on the basis of type, application, and country. Based on type, the market is segmented into below 50L, 51-200L, 201-750L, 751-1,500L, and above 1,501L. The 51-200L segment dominated the market in 2020. Also, the market for the same segment is expected to grow at the fastest rate during the forecast period. Based on application, the North America refrigerated incubators market is segmented into hospitals & research and diagnostic laboratories, pharmaceutical & cosmeceutical and biotechnology companies, research and academic institutes, and others. The hospitals & research and diagnostic laboratories segment dominated the market in 2020, and the market for the same segment is expected to grow at the fastest rate during the forecast period. Based on country, the market is segmented into the US, Canada, and Mexico.

Amerex Instruments, Inc.; Benchmark Scientific; Binder GmbH; Eppendorf AG; Gilson Inc.; LEEC Ltd.; Memmert GmbH + Co. KG; PHC Holdings Corporation; Sheldon Manufacturing, Inc.; and Thermo Fisher Scientific Inc. are among the leading companies in the North America refrigerated incubators market.