Newly released data from Fact.MR’s market analysis shows that global demand of laboratory centrifuges is expected to be valued at nearly US$ 1.6 Bn by 2021. As per the study, the market is slated to be valued at over US$ 2 Bn by the end of the 2021-2031 forecast period, expanding 1.2x. Extensive applications in the pharmaceutical, biotechnology and microbiology domains have helped sustain market demand.
Key Points Addressed in Laboratory Centrifuge Industry Analysis
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Laboratory Centrifuges and How to Navigate
- Recommendation on Key Winning Strategies
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Laboratory Centrifuge Revenue Analysis from 2016-2020 Vs Outlook 2021-2031
According to Fact.MR, a market research and competitive intelligence provider, from 2016 to 2020, the global market for laboratory centrifuge has grown at a CAGR of almost 2%. Adoption of cutting-edge technologies across medical and diagnostic domains has spurred demand in recent years.
Amidst the COVID-19 pandemic, demand-supply dynamics were majorly disrupted in the initial half, as logistical and production constraints hindered adequate output. However, the healthcare industry prioritized diagnostics and treatment for infected patients, requiring testing at regular intervals. This gradually uplifted growth prospects eventually.
As the incidences of various chronic and infectious aliments become pronounced, healthcare providers will be required to invest a significant proportion of their activities towards frequent diagnostic testing, which will impel demand for laboratory centrifuges. From 2021 to 2031, Fact.MR expects the market to surge at a CAGR of 2.5%.
What Role are Technological Advancements Playing in the Market for Laboratory Centrifuges?
As the 21st century progresses, the global healthcare industry is experiencing heightened penetration of key technological advancements. From digitization to nano-devices, these breakthroughs have proven highly beneficial to the market for laboratory centrifuges. Devices such as benchtop and floor standing centrifuges are becoming mainstream.
Rising complexities in the nature and incidence of multiple chronic and infectious ailments are prompting healthcare providers to investigate advanced therapeutic and diagnostic approaches, for which deployment of sophisticate laboratory centrifuges is becoming important.
As the medical industry expands, there are increasingly more clinical trials and analytical tests requested for different lab procedures. With the demand for new labs and instruments, laboratory centrifuges will continue to increase. As a result of their cost-effective nature, they are highly demanded in the market.
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How does R&D Contribute to Market Growth of Laboratory Centrifuges?
The market for businesses that develop pharmaceuticals and biopharmaceuticals has boomed over the past few years. A lot of government and business investments are going into research and development for various medical sectors, which will result in a higher demand for laboratory centrifuges.
A significant increase in the demand for laboratory centrifuges in the market has been attributed to COVID-19 vaccines and tests in the market. Researchers are attempting to develop an antidote in various regions to reduce the number of deaths caused by the virus.
The researchers propose an open science approach would allow less reliance on the protection of intellectual property and promote more open sharing of tools and data pertaining to pharmaceuticals industries.
How Opportunistic is the Market in the U.S?
Fact.MR expects the U.S market to yield 40% of overall demand for laboratory centrifuges until 2031. Backed by advancements in pharmaceutical and biotechnology sectors, the market is anticipated to maintain its lead throughout the forecast period.
According to the Pharmaceutical Research and Manufacturers Association (PhRMA), U.S. firms conduct over half the world’s R&D in pharmaceuticals, which is worth US$ 75 billion, and hold intellectual property rights on most of the new medicines. This explains why the U.S. is the hotspot for laboratory centrifuge manufacturers.
How are Players in Germany Increasing their Sales Footprint?
Germany has been leading in the world’s second-largest laboratory centrifuge industry - Europe, since the past decade. Technical innovations and increase in R&D activities in various domains of biotechnology & pharmaceuticals are propelling the growth of suppliers in Germany.
As per a report published by the Germany Trade & Investment (GTAI), the pharmaceutical industry value increased 3% from 1.43 billion in 2014 to 1.47 billion in 2015, and is forecast to grow further after getting over the impact of the pandemic. This, in turn, will widen the growth scope for laboratory centrifuge suppliers in the country, expanding at around 4% CAGR.
How is Asia Generating Demand for Laboratory Centrifuges?
Asia is the biggest market for laboratory centrifuges. Current market data indicate a high demand for medical equipment, which is reflected in the growth of the laboratory centrifuge installation in the market. Fact.MR expects it to garner a revenue share worth 55% until 2031.
The healthcare system has experienced an increase in the initial installment because of the inventive technology and procedures used in treating chronic diseases. In the region, diseases such as cancer, HIV, AIDS, and infectious diseases have all increased, and there has also been a huge increase in investments made by medical entrepreneurs to purchase compact-sized laboratory centrifuges.
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What is Driving Demand for Micro-Centrifuges?
The microcentrifuge is also known as a microfuge and is used to spin thin liquid samples at high speeds. Small samples of centrifugation are used for various biological applications. Various types of labs such as clinical, eco-technology, biotechnology, and pharmacological use these products.
A high demand exists for micro centrifuges manufactured from glass tubes to store samples for the process in medical laboratories and other industries. Its compact design and small footprint that takes up little space on a workbench are growing in popularity for laboratory use. A CAGR of 3.5% is expected for this segment.
Why are Laboratory Centrifuge Sales Highest across Hospitals?
Laboratory centrifuges are used in hospitals to test various blood sample separations, DNA, RNA separation, cell culture separation, and others. Moreover, they are utilized for studies of viruses, polymers, nucleic acids, proteins, and blood.
By separating sperm cells from semen, centrifuges can immunize a woman whose partner is infertile, which helps her fulfill her desire to be a parent. Assorted blood components can be utilized by hospitals according to patients' needs or to assist patients with treating sexually transmitted diseases. Nearly 50% of laboratory centrifuges are demanded by hospitals.
Strategic collaborations enable manufacturers to increase production and meet consumer demand which will increase revenue and market share. New products and technologies will enable end-users to benefit from products that are eco-friendly by nature.
- Thermo Fisher, a leading global provider of science-related services, acquired PPD, Inc., a leading provider of clinical research services to the pharmaceutical and biotech industries. This acquisition will help Thermo Fisher to expand its services for pharmaceutical and biotechnology companies.
- In June 2021, Quest Diagnostics completed the acquisition of Mercy’s Outreach Laboratory Services business. The transaction aims to increase access to innovative, high-quality, and affordable laboratory services to provide affordable patient care throughout the Midwest. Upon completing the acquisition, Quest will gain immediate access to a wider network of healthcare professionals in Kansas, Arkansas, Missouri, and Oklahoma.
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Market size value in 2021
|USD 1.6 Billion|
Market forecast value in 2031
|USD 2 Billion|
|CAGR of 2.5% from 2021 to 2031|
|Historical Data Available for||2016-2020|
|US$ Mn for Value & ‘000 Units for Volume|
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Key Segments Covered
- Multipurpose Laboratory Centrifuges
- Micro Laboratory Centrifuges
- Ultra-Laboratory Centrifuges
- Other Laboratory Centrifuges
- Laboratory Centrifuges for Biotechnology & Pharmaceutical Companies
- Laboratory Centrifuges for Academic & Research Institutes
- Laboratory Centrifuges for Hospitals
- Laboratory Centrifuges for Diagnostics
- Laboratory Centrifuges for Other Applications
Laboratory Centrifuge Market- Scope of Report
A recent study by Fact.MR on the laboratory centrifuge market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering laboratory centrifuges.
The study also provides the dynamics responsible for influencing the future status of the laboratory centrifuge market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the laboratory centrifuge market, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of laboratory centrifuge across the globe.
A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of laboratory centrifuge during the forecast period. Price point comparison by region with global average price is also considered in the study.
Key Questions Answered in Report
- Which are the most lucrative laboratory centrifuge markets?
- Which factors will impact the growth of laboratory centrifuges?
- How will changing trends impact the strategies of market players?
- How can market players capture the low-hanging opportunities across regions?
- Which companies are leading the laboratory centrifuge industry?
- What are the winning strategies of stakeholders in the market?
Analysis on Market Size Evaluation
The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).
Estimates at global and regional levels for laboratory centrifuges are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report.
Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global laboratory centrifuge market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the laboratory centrifuge market during the forecast period.
Country-specific valuation on demand for laboratory centrifuges has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value & volume for emerging countries has also been included in the report.
In-depth Analysis on Competition Analysis
The report sheds light on leading manufacturers of laboratory centrifuges, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering laboratory centrifuge has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the laboratory centrifuge domain. Prominent companies operating in this space include Thermo Fisher Scientific Inc., Becton, Dickinson and Company, Kubota Corporation, Danaher Corporation, Andreas Hettich GmbH & Co. KG, QIAGEN, HERMLE Labortechnik GmbH and Koki Holdings Co., Ltd among others.
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the laboratory centrifuge industry, and reach conclusions on future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.
- FAQs -
The global laboratory centrifuge market size is likely to be worth US$ 1.6 Bn as of 2021
From 2016 to 2020, laboratory centrifuges demand surged at a CAGR of 2%
According to Fact.MR, laboratory centrifuge sales will likely be valued at over US$ 2 Bn by 2031
Deepening technological advancements to better diagnose and treat ailments is spurring laboratory centrifuges adoption
Major market players include Thermo Fisher Scientific Inc., Becton, Dickinson and Company, Kubota Corporation, Danaher Corporation and Andreas Hettich GmbH & Co. KG
Sales of laboratory centrifuges will yield 40% of total demand in the U.S
Germany is expected to surge at a CAGR of 4% in the laboratory centrifuges industry
Asia is anticipated to generate a market revenue of 55% in the laboratory centrifuges market
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.