Platelet Incubators Market is expected to reach USD 542.8 Mn by 2026
According to the latest report published by Credence Research, Inc. “ Platelet incubators market - Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global platelet incubators market was valued at USD 340.4 Mn in 2017, and is expected to reach USD 542.8 Mn by 2026, expanding at a CAGR of 5.2% from 2018 to 2026.
Platelet incubators are widely used in clinical research laboratories and blood banks. It provides precise and suitable storage conditions for blood products such as small cell fragments and platelets. These small cell fragments usually play important role in wound repair. The sizes also vary for platelet incubators from being compact to large floor models. Thus, wide variety in terms of size and functionality provides flexibility to the customers and ultimately convenient for the users. Mounting geriatric population as it affects mostly to specific age group, large patient base in developing countries supportive platelet transfusion, increasing investments & R&D activities to confirm the quality preservation of platelet under controlled temperature are key factors that are responsible for global platelet incubator market. Regulatory approval process is time consuming, significant rise in the investments specific to the technological innovation in the platelet incubator industry, and lack of awareness about importance of platelet transfusion in the treatment of diseases that comprise thrombocytopenia are major market restraints affecting the growth of platelet incubator industry.
In 2017, bench-top platelet incubators dominated the market due to rising demand for bench-top platelet incubators require less space and highly cost–efficient makes its one of the ideal choice of research laboratories and university research centers. The demand for bench-top platelet incubator will maintain its dominance as most of the research laboratories apart from hospitals have limited sample size and require compact platelet incubator which can be easily handled on the table top as it gives more convenience to the operator.
During the forecast period from 2018 to 2026, Asia Pacific was expected as the fastest growing segment due key market driving factors such as rising prevalence of dengue fever in African, South American & South Asian countries, and increasing awareness related to dengue treatment has significantly increased the demand for platelet incubators. According to the World Health Organization (WHO), around 2.5 billion people i.e. 40% of the world’s population live in areas with highest risk of dengue transmission. The WHO also estimated that around 50 to 100 million infections occur yearly, including 500,000 dengue hemorraghic fever cases and 22,000 deaths. Hence, high prevalence of dengue fever is expected to assist the overall growth of Asia Pacific market in the near future.
Market Competition Assessment:
The platelet incubators market is growing steadily and key companies operating in this market are developing more cost-efficient, user-friendly, and efficient platelet incubators. The major market strategies applied by these players is to target developing and under-developed countries from Asia, Africa and South America. The platelet incubator manufacturers present in this market are Helmer Scientific, Terumo Corporation, Boekel Scientific, Sarstedt AG, EMSA? Elektrik Malzemeleri San. ve Tic. A.?., Lmb Technologie GmbH, Biolab Scientific, and BIOBASE among others.
Key Market Movements:
- Increasing awareness related to early dengue diagnosis and treatment has assisted the demand for platelet incubators in affected geographical areas
- Market introduction of novel platelet incubation technologies equipped with multiple advantages expected to augment the market growth in the near future
- Rising research & development activities on blood-borne diseases treatment have initiated huge demand from clinical research laboratories