An incubator is an enclosed device or a setup that is used for growing cell cultures and maintaining them at specific temperatures, humidity levels and also ensuring a favorable growth environment. In 1860, a French man, Etienne Stephane Tarnier was the first to apply it for regular care of the premature babies. An incubator, more often, is a device used in hospitals to provide a protective and controlled environment for premature babies or those born with health related issues. According to the World Health Organization (WHO), an estimated 15 million babies are born preterm, i.e. less than 37 weeks of gestation. This is a strong indication of the requirement for infant incubators. Infant incubators provide heat therapy, ventilation, jaundice management, and other types of treatment that premature babies tend to require. In a few cases neonatal incubators are also used for full term infants, who are born with some form of illness and need to be kept under observation in incubator for extended period. Medical incubators are also useful for new born animals and hypothermic patients. The culture incubators are used in microbiology for facilitating the growth of microorganisms and plant cell culture. Incubators are used by hatching centers to facilitate the process of hatching for chicken or other poultry and are used for human consumption or for research.
A number of factors affect the growth of the incubators market. Key factors affecting the expansion of the incubators market include rising demand for incubators for treatment, development and advancement in incubator devices, growing prevalence of premature babies, hypothermic child, low birth weight, and a need to investigate babies are expected to boost the global incubators market. Other key drivers are technological advancement in incubator devices, also incubators are used for clinical testing processes and drug delivery. The market is also witnessing restraints or challenges such as development of other incubation procedures and technologies and stiff competition among existing incubator device manufacturers. Moreover, product recalls, government regulations for reduction of overall health care cost, and high cost of device are restraining the incubators market.
The incubators market can be segmented into product type, end-user, and region. In terms of product type, the market can be segmented into neonatal incubators, microbiological incubators
hatching incubators and others. The neonatal incubators segment holds significant share of the market. In terms of end-user, the market can be segmented into hospitals, gynecology clinics, diagnostic centers, and research & academics. The hospitals segment dominates the incubators market.
In terms of geography, the incubators market can be segmented into five major regions: North America (U.S. and Canada), Europe (Germany, France, U.K., etc.), Asia Pacific (Australia, New Zealand, China, Japan, India, etc.), Latin America (Brazil, Mexico, etc.), and Middle East & Africa (GCC Countries, Saudi Arabia, South Africa, etc.). North America holds prominent share of the market due to advanced technology in the region. The emerging markets in Asia Pacific, Latin America, and Middle East & Africa are estimated to expand considerably during the forecast period from 2018 to 2026. This is attributed to presence of key manufacturers, high population, increasing investments by key players operating in these countries, expanding health care industry, and increase in the patient population in these countries. India, China, and Brazil are expected to fuel expansion of the incubators market due to increasing investments by government bodies to enhance health care facilities.
Key companies operating in the global incubators market are GE Healthcare, Panasonic Healthcare Co., Ltd., Thermo Fisher Scientific, Phoenix Medical Systems (P) Ltd., Hettich Lab Technology, Atom Medical Corporation, VWR Lab Products Pvt. Ltd., Natus Medical Incorporated, Drägerwerk AG & Co. KGaA and Memmert GmbH + Co.KG.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.