A new report composed by Transparency Market Research (TMR) provides insights and analysis on the global carbon dioxide incubators market for the forecast period – 2017 to 2026. The report has profiled prominent players actively contributing to the market growth, and has tracked their occupancy using an intensity map. Key market players identified by the report include Shanghai Boxun Medical Biological Instrument Corp., LEEC Limited, Bellco Glass, Inc., Memmert GmbH + Co. KG, BINDER GmbH, Sheldon Manufacturing, Inc., Eppendorf AG, Panasonic Healthcare Co., Ltd., and Thermo Fisher Scientific Inc.
Presence of numerous vendors has made the global carbon dioxide incubators market’s nature to be fragmented, albeit product offerings of these vendors are similar to an extent in terms of design and functionality. The market is less competitive on the back of slow technology upgradation cycle regarding carbon dioxide incubators. Global leading vendors of carbon dioxide incubators are adopting after sales services and streamlined distribution systems for retaining their dominance in the market.
Increasing Technological Penetration in Production of Carbon Dioxide Incubators – Key Growth Driver
Global market for carbon dioxide incubators is projected to register a splendid expansion through 2026. Worldwide sales of carbon dioxide incubators are estimated to account for roughly US$ 300 Mn revenues by 2026-end. Increasing technological penetration in the production of carbon dioxide incubators is considered to be one of the key growth drivers for the market. A great example for this is the introduction of an advanced version of carbon dioxide incubator equipped with HEPA filters and infrared radiation control, which offers results with enhanced quality. With laboratories taking efforts toward incorporating automation, demand for carbon dioxide incubators will witness a consistent rise in the near future. Future of the market for carbon dioxide incubators is centered upon upgradation to newer application-specific products equipped with more sophisticated features.
However, high prices of carbon dioxide incubators are expected to remain a major factor restraining their adoption. Customization requirements based on working environment which include additional shelves & trays, or add-on accessories, along with their service, maintenance, and repair further add to the cost of these incubators. Market players emphasizing on development of technologically sound and cost-effective carbon dioxide incubators for high quality outputs are likely to witness lucrative growth opportunities in the foreseeable future.
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North America to Remain Largest Market for Carbon Dioxide Incubators
In terms of revenues, North America is likely to remain the largest contributor to growth of the global carbon dioxide incubators market, followed by Europe. Revenues from the markets in North America and Europe are collectively projected to account for over half share of the market by 2026-end. Asia-Pacific excluding Japan (APEJ) is projected to register a double-digit CAGR through 2026, and is anticipated to remain the fastest expanding market for carbon dioxide incubators, followed by North America.
On the basis of product type, water jacketed carbon dioxide incubators will continue to be sought-after among end-users, with sales poised to account for nearly US$ 200 Mn by 2026-end. Revenue share of water jacketed carbon dioxide incubators in the market will remain considerably higher than combined revenue share of air jacketed and direct heat carbon dioxide incubators.
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Above 200L Capacity of Carbon Dioxide Incubators to Remain Preferred
Carbon dioxide incubators with capacity of above 200L will remain preferred in the market. However, sales of carbon dioxide incubators with capacity of above 100L & below 200L are projected to register the fastest expansion in the market through 2026. In addition, revenues from sales of carbon dioxide incubators having below 100L capacity are expected to remain sluggish during the forecast period.
Although laboratory research and clinical applications of carbon dioxide incubators are expected to remain the most financially rewarding, in vitro fertilization application of these incubators will register a relatively higher CAGR through 2026. However, revenues from the former will remain significantly larger than the latter throughout the forecast period.
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