Increasing Pharmaceutical & Biotechnology R&D Activities Augmenting Demand for Laboratory Centrifuges: Fact.MR
Published : 19 Mar 2021 Industry: Industrial Goods
Laboratory centrifuge industry players have been witnessing rise in demand as pharmaceutical and biotechnology research & development (R&D) activities are gaining traction. With medical diagnostic organizations, hospitals, and research institutes flourishing on technical advancements and innovations, stakeholders are optimistic of ample opportunities in post-COVID-pandemic years.
The latest report on the laboratory centrifuge market by Fact.MR analyzes the industry while taking into account the effects of the COVID-19 pandemic, and emphasizing on shifting demand-supply patterns during the forecast period of 2021 to 2031. According to the report, North America, Europe, and Asia Pacific will witness higher growth as compared to other regions, while more than 20+ countries will be worth the attention of manufacturers over the coming years.
Key Takeaways from Market Study
- The global laboratory centrifuge market is forecast to expand at around 2.5% CAGR through 2031
- High demand for multipurpose laboratory centrifuges to be witnessed
- Application in biotechnology and pharmaceutical sectors to bolster demand growth
- The United States to contribute major share of revenue in the world’s largest laboratory centrifuge industry - North America
- Germany remains at the forefront of the world’s second-largest market - Europe
- Asia Pacific to exhibit the fastest growth through 2031, with its epicenters in China and India
- Japan, the United Kingdom, France, Canada, South Korea, and Italy to maintain positive industry outlook throughout the forecast period
“As the world is getting back on track by adopting new norms, industries such as pharmaceuticals, diagnostics, and academic & research institutes are gaining momentum once again, which is resulting in prominent demand for laboratory centrifuges. Additionally, demand for multipurpose centrifuges and micro-centrifuges is expected to be high over the coming years,”says a Fact.MR analyst.
Why is Demand from Pharmaceutical & Biotechnology Companies Surging?
Being highly efficient in separating mixtures of two different miscible liquids, laboratory centrifuges have high demand in pharmaceutical and biotechnology R&D activities. According to a report titled “Biotechnology- Internal Market, Industry, Entrepreneurship, and SMEs”, published by the European Commission (EC), biotechnology and life sciences have significant contribution to the modernization of the European industry. As stated in the report, the EC aims to identify and remedy obstacles to the biotechnology industry by taking a set of actions-
- Implementing a broad strategy and action plan for the development of life sciences and biotechnology-based products
- Making its life sciences and biotechnology strategy part of the Europe 2020 Strategy and the Innovation Union Flagship Programme
While such initiatives are catering to the growth of research & development activities in the biotechnology and pharmaceutical sectors across regions, they are indirectly aiding demand growth for laboratory centrifuges as well across the globe.
Who is Winning in this Space?
The global laboratory centrifuge industry is fragmented and subject to further growth, making the competition tougher for key players. In order to capitalize on the upcoming opportunities, key players are focusing on launching quality products of a wider variety.
- NuAire launched its new NuWind NU-C200R General Purpose Bench Top 2 Liter Refrigerated Centrifuge, NuWind NU-C300V General Purpose Bench Top 4 Liter Ventilated Centrifuge, and others, during the last 5 years.
- Thermo Fisher Scientific Inc. recently launched its new Thermo Scientific™ Floor Model Centrifuge equipped with automatic rotor ID, stored protocol, Auto-Lock™ rotor and smart software to operate, monitor, collect data, and simplify compliance.
More Valuable Insights
In its latest report, Fact.MR offers an unbiased analysis of the laboratory centrifuge market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product type (multipurpose centrifuges, micro-centrifuges, ultra-centrifuges, and others) and application (biotechnology & pharmaceutical companies, academic & research institutes, hospitals, diagnostics, and others), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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Consultant - Industrial Goods and Automotive