The hatchery in brave new world is used as a human reproduction center. Since none of the birth occurs naturally in that society, They combine human's embryos with various type of chemicals to form the type of babies that they want.
The conditioning center is used in order to teach the children about their adult roles in the future. For examples, the babies that are intended to work as factory workers would be conditioned to hate book since the early age so they become suited to hard labor.