Cell and Tissue Culture Incubators Market Trends

Growth Drivers

• Growing Pharmaceutical Sector – On account of the expanding pharmaceutical industry, the need for cell and tissue culture incubators is expected to rise, as incubators are a necessary piece of equipment for pharmaceutical research and development. Globally, the pharmaceutical industry in India is valued at over USD 40 billion. The Indian pharmaceutical market expanded by 17% yearly in 2021.
• Rising Geriatric Population – Owing to the necessity for research and drug development in age-related disorders as well as the expanding interest in regenerative medicine, the need for cell and tissue culture incubators is projected to increase as the older population grows. Lately over 8 % of the world's population, is over the age of 65. This number is anticipated to increase to over 15% of the global population by 2050.
• Increasing Health Spending – Probably, the need for cell and tissue culture incubators to assist the research will increase owing to an increase in health spending across the globe. According to the most recent expenditure data, in 2021, health spending in the US increased by over 2%.
• Growing Drug Development – It is expected that more cell and tissue culture incubators might be required as new medications are created and made available, which is anticipated to drive market growth. According to statistics, the top 20 pharmaceutical corporations around the globe invest over USD 50 billion annually in medication development.

Challenges

• Potential for a Critical Error- The possibility of errors is one of the major factors predicted to slow down the market growth. For instance, the growth and viability of cell and tissue cultures can be impacted by changes in temperature, humidity, and other environmental conditions.  In addition, critical errors can also affect the integrity of experimental findings and result in erroneous inferences, both of which can be detrimental to the research project.
• High Price of Incubators
• Standardization Issues in High-Volume Production