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

The Europe refrigerated incubators market is expected to grow from US$ 153.74 million in 2021 to US$ 214.30 million by 2028; it is estimated to grow at a CAGR of 4.9% from 2021 to 2028.

In medical & food research, working with microorganisms plays a vital role. Moreover, efficiently producing and multiplying microorganisms requires a stable incubation phase. The advent of technology has established a drastic shift toward the usage of advanced technology-based equipment focusing on energy-efficient consumption compared to traditional cooling incubators. As cooling incubators reduce energy consumption and minimize uneven temperature distribution, these are highly adopted at research laboratories, pharmaceutical, and biotechnology centers. Moreover, several top players, including Thermo Fischer Scientific and BINDER, launched innovative refrigerated incubators in the market. For instance, BINDER's refrigerated incubator product uses a compression-refrigeration unit, ensuring a constant temperature. These refrigerated incubators work with a special conventional technology ensuring a stable climate inside the incubator chamber. Additionally, Thermo Fischer Scientific's "Heratherm" refrigerated incubator operates on a specific technology known as Peltier technology, that saves energy. By introducing such advanced technologies and efficient features, the Heratherm refrigerated incubators utilize less than 84% energy compared to traditional compressor-based models. With the growth of the field of biology through the involvement of pharmaceutical, zoology, microbiology, genetics, and ecology, the requirement for advanced technology-based refrigerated incubators has increased. Therefore, the rise in research and development activities by top market players for introducing cost-effective and sophisticated refrigerated incubators have resulted in a high acceptance and adoption of refrigerated incubators. Such aforementioned factors highly support the adoption of technology-based refrigerated incubators, which drives the refrigerated incubators market growth in Europe.

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 Europe refrigerated incubators market in the coming years. The market is expected to grow at a good CAGR during the forecast period.

Europe Refrigerated Incubators Market Segmentation

The Europe refrigerated incubators market is segmented based on type, application, and country. Based on type, Europe refrigerated incubators market is segmented into below 50L, 51-200L, 201-750L, 751-1500L, and above 1501L. The 51-200L segment dominated the market in 2020 and same segment is expected to be fastest growing during forecast period. Based on application, Europe 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 same segment is expected to be fastest growing during forecast period. Based on country, the Europe refrigerated incubators market has been segmented into the UK, Spain, France, Germany, Italy, and rest of Europe.

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 Europe refrigerated incubators market.