The global carbon dioxide incubators market is expected to reach to US$ 238.95 Mn in 2027 from US$ 129.16 Mn in 2018. The market is estimated to grow with a CAGR of 7.1% from 2019-2027.

The key factors that are driving the growth of carbon dioxide incubators market are rapid growth of pharmaceutical and biotechnology industry, rising adoption of in vitro fertilization, and initiatives by government to encourage in vitro fertilization. However, the market is likely to experience restriction on its growth owing to the factors such as limitations associated with carbon dioxide incubators.

In recent years, the pharmaceutical industry is proliferating at an unusually rapid pace. The alliance between manufacturers and the contract research organizations (CROs) are confronting the vast healthcare challenges through new therapy forms, medicines, promoting digitalization, and making appropriate regulatory changes. The World Health Organization reports the global population is increasing by 1.24% per annum, leading to an increase in the number of people in the elderly class. The World Health Organization (WHO) also suggests that the proportion of people aged 65 to 80 will rise to 28% in 2030, compared to 22% in 2000.

Moreover, according to a survey report published by Torreya Economical Model 2017, the pharmaceutical industry is 30% larger than its previous estimations till 2017 and contributes to one of the top five industries increasing global economic value. Additionally, increasing urbanization, as well as a rising number of middle-income population, is resulting in drug makers producing inexpensive and affordable medications leading to market growth. These formulations are brought into the market that is passed through stringent regulatory guidelines to ensure patient safety.

The use of tissue-engineered products is coming up as a type of novel treatment for various medical conditions. The tissue engineering technology is providing hopes for scientists to develop cure and treatments for incurable treatments such as cardiovascular failures and malignant tumors. In these studies, carbon dioxide incubators are used for the cultivation of cells and tissue cultures for research, development, and storage purposes. Moreover, cells used in cell therapy are multiplied and produced in authorized centers. These are further processed by carbon dioxide incubators in class C clean rooms.

Global carbon dioxide incubators market was segmented by product, application, and capacity. The market based on product segment is classified as water jacketed carbon dioxide incubators, direct heat carbon dioxide incubators and air jacketed carbon dioxide incubators. On the basis of the application, the market is classified as in vitro fertilization, laboratory research and clinical applications, and, other applications. On the basis of capacity, the market is segmented into below 100L, above 100L & below 200L, and above 200L.