According to the Public Library of Science (PLOS) report, in the past few years, there have been significant challenges associated with tackling emerging infectious diseases, particularly antimicrobial resistance (AMR) and neglected diseases (NDs). Therefore, a few prerequisites are required for enabling a functional R&D framework in terms of financing. The Consultative Expert Working Group (CEWG) focused on R&D financing and coordination at the World Health Organization (WHO) suggested searching for alternatives to fund and incentivize R&D for innovation and access to emerging infectious diseases. So, with the rising R&D activities targeting emerging infectious and AMR diseases, the adoption of refrigerated incubators has increased across the region. Strong investments by international biopharmaceutical companies and contract manufacturers in new and innovative product launches would offer lucrative opportunities for the refrigerated incubators market players in the coming years. Also, manufacturers are now channeling funds toward research and development to introduce cost-effective and sophisticated refrigerated incubator-based products across the region. For example, in May 2017, Thermo Fischer Scientific announced the launch of new refrigerated incubators in market across APAC. These systems are widely applicable in life sciences, pharmaceutical, water treatment, biological research, and microbiological industries that need incubation of bacteria and yeast, water testing, biochemical oxygen demand (BOD) testing, and sample storage at specific temperatures. Such aforementioned factors are expected to support the high adoption of refrigerated incubators across APAC during the forecast period.
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 APAC refrigerated incubators market in the coming years. The market is expected to grow at a good CAGR during the forecast period.
APAC Refrigerated Incubators Market Segmentation
The APAC refrigerated incubators market is segmented based on type, application, and country. Based on type, APAC 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, APAC 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 APAC refrigerated incubators market has been segmented into China, India, Japan, South Korea, Australia, and rest of APAC.
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 APAC refrigerated incubators market.