Incubator Devices Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025
Report ID: GMI3986
Incubator Devices Market size is projected to experience significant growth from 2019 to 2025.
Increasing number of newborn and premature babies will drive the incubator devices market growth over forecast timeframe. World Health Organization in 2018 reported that around 15 million babies are born preterm and the number is expected to rise further in coming years. Preterm babies are born before the proper development of key organs such as lungs and digestive tract. Incubators ensures the ideal conditions for development of preterm babies outside the womb. As a result, demand of incubators will increase with increasing number of preterm babies.
Growing research and development activities in biopharmaceutical sector will render a significant positive impact on incubators devices market growth. Research activities are aimed at development of unmet medical needs. Incubators play crucial roles in field of cell biology and molecular biology and are used to culture bacterial cells. However, high cost of incubators may restrain the incubator devices market growth to some extent over the forecast period.
Neonatal incubators product segment will witness lucrative growth over forecast timeframe due to increasing need to provide ideal conditions for growth of preterm babies. Technological advancements leading to development of superior incubators will augment the segment growth. These incubators provide most indispensable care and are made up of biocompatible materials. Unmet demand due to rising preterm births and technological advancements will drive the segment growth.
Hospitals accounted for significant revenue share in 2018. Neonatal incubators are most commonly used in hospital premises for providing care to newborns and preterm babies. Government initiatives to reduce infant mortality has led the healthcare provider to increase the number of incubators with increasing preterm births. Availability of skilled professionals, resources and developments in healthcare infrastructure will further augment segment growth over foreseeable future period.
The U.S. incubator devices market currently dominates the industry and scenario is likely to remain so over analysis period. Well-developed infrastructure and strong foothold of key industry players will augment the regional growth. Centers for Disease Control and Prevention reported in 2016 that one in every ten infants in the U.S. is preterm. Such high number of preterm births will support the regional industry growth over forecast period.
Notable industry players in incubator devices market are Andreas Hettich, Thermo Fisher Scientific, BMT Medical Technology, General Electric Company, Drägerwerk, Natus Medical Incorporated, Atom Medical and PHC Corporation. Industry players adopt strategic initiatives such as product launch, acquisitions, and mergers to sustain industry competition. For instance, in 2016, Thermo Fisher Scientific launched new high performance and refrigerant free incubators. The product launched strategy expanded the offerings of Thermo Fisher in incubator devices market.
Incubator Devices Market, by Product, 2014-2025 (USD Million)
- Neonatal Incubators
- Open box incubators
- Closed box incubators
- Portable incubators
- Double walled incubators
- Microbiological incubators
Incubator Devices Market, by End-use, 2014-2025 (USD Million)
- Research organizations
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Thermo Fisher Scientific
- Andreas Hettich GmbH & Co.KG
- BMT Medical Technology s.r.o.
- General Electric Company
- Drägerwerk AG & Co. KGaA
- Natus Medical Incorporated
- Atom Medical Corp.
- PHC Corporation
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