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Laboratory Centrifuge Market - Forecast(2024 - 2030)
Laboratory Centrifuge Market Overview
The Laboratory Centrifuge Market is estimated to reach $1.24 billion by 2026 and is poised to grow at a CAGR of 2.3% over the
forecast period of 2021-2026. A laboratory centrifuge helps in separating
liquid samples at a high rate of speed. A centripetal acceleration induces the
centrifuge to separate items and substances based on densities. The speed at
which the motor moves of the centrifuge allows the heavier metals to fall out
of the vessel. The laboratory centrifuge is excessively used for academic
purposes, as it helps them follow procedures of sedimentation and separate the
main constituent from the liquid. Owing to various characteristics, the
centrifuge models differ and allow the user to perform various functions. For
example, swinging bucket rotors feature a full path length, run slowly, and,
more importantly, the tube changes its angle during the run. It is used in
culture processing and harvesting cells from growth.
The rise in technological advancement, which now allows the
users to perform function efficiently and at high speeds along with an increase
in the prevalence of diseases such as HIV and hepatitis, and lastly in
diagnosing cases of Sars-Cov-19 are some of the factors which will drive the
laboratory centrifuge industry forward in the projected period of 2021-2026.
Report Coverage
The report: “Laboratory
Centrifuge Market Forecast
(2021-2026)”, by Industry
ARC covers an in-depth analysis of the following segments of the Laboratory
Centrifuge Market.
By Product- Benchtop and Floor Standing.
By Rotor Design-
Swinging Bucket Rotors,
Fixed Angle Rotors, Vertical Rotors, and Others.
By Application- Microbiology, Diagnostics, Cellonomics,
Proteomics, Genomics, and Others.
By End User- Hospitals, Biotechnology, and Pharmaceutical
& Academic Research.
By Intended Use-
General Purpose Centrifuge,
Clinical Centrifuge, and Pre-Clinical Centrifuge.
By
Geography- North America (U.S., Canada, Mexico), Europe (Germany,
United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia
Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest
of Asia Pacific), South America (Brazil, Argentina, and Rest of South America),
and Rest of the World (the Middle East, and Africa).
Key Takeaways
- Geographically, North America’s Laboratory Centrifuge Market held a dominant market share. It is owing to the allotment of funds for research and developments along with the presence of major pharmaceutical and biotechnology companies. However, Asia-Pacific is estimated to offer lucrative growth opportunities to the marketers owing to the rising allocation of government funds for research and development and due to the overall increase in the budgetary allocation for healthcare.
- The technological advancement to develop efficient centrifuge has been the key market driver. However, the high costs associated with procuring the device will act as a grave market challenge.
- A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Laboratory Centrifuge Market.
Laboratory Centrifuge Market Share- Geography as (%) for 2020
Laboratory Centrifuge Market Segmentation Analysis - By Product
The Laboratory Centrifuge Market based on the product can be
further segmented into Benchtop and Floor Standing. The benchtop centrifugal segment held the
dominant market share in the year 2020. It is owing to the relatively easier
forms of keeping the machines, and also the machines being versatile and easy
to use, and lastly lighter in weight. Moreover, ESRD cases have resulted in an
increased fatality, as deaths per 1,000 cases have ramped up by 8.7-12.9.
Additionally, research and development costs by companies have risen
multitudes.
However, the Floor standing segment is estimated to be the
fastest-growing, with a CAGR of 2.6% over the forecast period of 2021-2026. It
is owing to the additional features offered, such as, it can work in
temperatures between -20 C to +40 C. Additionally, they can be used across in
the DNA, RNA, Viral, and protein research applications, which will be immensely
supplemented from vaccine-related work.
Laboratory Centrifuge Market Segmentation Analysis - By End User
The Laboratory Centrifuge Market based on the end-users can
be further segmented into hospitals, biotechnology, and pharmaceuticals &
Academic Research. The biotechnology & Pharmaceutical’s segment held the
dominant market share in the year 2020. It is owing to the COVID-19 surge and
the increasing pressure on pharmaceutical and biotechnology companies to
develop a vaccine or a drug to counter. Moreover, the profitability index of
such companies was higher than other industries and counterparts.
Moreover, the pharmaceutical and biotechnology segment is
estimated to be the fastest-growing, with a CAGR of 2.7% over the forecast
period of 2021-2026. It is owing to the budgetary allocation to certain
companies to develop better medications or vaccines, or drugs. For example,
M-RNA vaccines are supposedly under trial for curing cancer, whereby various
samples and assays are used to find the right composition. Similarly, other
competitors are advancing to tackle the competition, which is further allowing
the market to grow.
Laboratory Centrifuge Market Segmentation Analysis - By Geography
The Laboratory Centrifuge Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held a dominant share of 38% as compared to the other regions in the year 2020. It is owing to the predominant manufacturers pertaining to drugs and vaccines physically situated in the following region. Moreover, the government of the following region spends excessively, as, in 2020, the U.S government allocated $2 billion to Pfizer for developing the coronavirus vaccine.
However, Asia-Pacific is set to offer lucrative growth opportunities to marketers. It is owing to the rising cardiovascular ailments across the regions, particularly in low-income countries. As 77% of the deaths due to NCDs are caused in low-income countries, hence active government participation and budgetary allocation allow the market to grow at a steadfast pace.
Laboratory Centrifuge Market Drivers
An increase in R&D expenditures will aid the growth of the Laboratory Centrifuge Market
The proportion of budget which goes forward for the development of improved and efficient technology has been increasing. Moreover, pharmaceutical and biotechnology companies rank 1st in terms of spending on such costs. For example, $190.9 billion were spent by pharma and biotech companies in 2018, which ultimately helped them realize a net revenue of $ 1251 billion. The increase in the costs by private companies and government alike to counter the geriatric uprising population. As per US CDC experts, by 2030, 1 in every 5 Americans will be above the age of 65+. Further, the geriatric population is prone to diseases more than their counterpart.
An increase in the cases of non-communicable diseases has acted as a driver for the following market
Laboratory centrifuges are the basis for performing the
majority of blood tests. Moreover, as per WHO, 41 million people each year die
due to NCDs; further, WHO has provided screening as a quintessential step to
counter the rising cases of such diseases. As 77% of the deaths owing to NCDs
take place in the low- and middle-income countries, efforts are globally made
to increase the testing facilities. The strategy to get hold of the disease at
the benign stage has been the key objective of the entire process, which has
aided the growth of centrifugal devices. Additionally, countries like India
allotted INR 4062 crores in 2020-2021 for healthcare research expenditure out
of the total budgetary allocation.
Laboratory Centrifuge Market Challenges
Attribution to the release of harmful aerosols along with high device costs is set to hamper the growth of the market
According to the University of Minnesota, 80% of the
infections which are communicable in nature are spread with the release of
harmful aerosols. Owing to high centripetal acceleration and in-efficient tubes
the aerosols are released, and the lab technician working, latches on to such
pathogens. Interestingly, Sar-Cov-19 has also been attributed as an accident of
“lab-leak.” Companies are spending an extra portion of their budgets to maintain the
overall safety of the facility. Lastly, centrifugal devices can cost more
than $6000 on average, additionally, more facilities and advancement attract
higher prices. The following can be thought of as the major market challenge.
Laboratory Centrifuge Market Competitive Landscape
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Laboratory Centrifuge Market. The top 10 Laboratory Centrifuge Market companies include:
- Thermo Fisher Scientific Inc.
- Danaher Corporation
- Eppendorf AG
- Sigma Laborzentrifugen GmbH
- Andreas Hettich GmbH & Co. KG
- Kubota Corporation
- Koki Holdings Co., Ltd. (Japan) (previously Hitachi Koki Co., Ltd.),
- QIAGEN N.V.
- NuAire (US), Sartorius
- Becton, Dickinson, and Company
Recent Developments
- In June 2021, MagFuge from Health Care Logistics is a combination high-speed centrifuge and magnetic stirrer with a compact, low-profile design for use in labs with height restrictions or limited space. Multiple stirring modes are possible and both speed and time are adjustable. MagFuge is complete with two silicone mats to help prevent spills and keep the unit stable. Lastly, it is also available in a refrigerated version.
- In May 2021, Helmer Scientific launched Hettich Mikro 200 Centrifuge. It offers quality and is designed to offer various speeds. Moreover, it contains multiple rotors and accessories Additionally, it has the capability to remove lipemia in serum and plasma samples with time no more than 15 minutes. Further, it has the capacity to hold 30 x 1.5/2 ML with a maximum speed of 15000 RPM or 21832 RCF. Lastly, it is available in a refrigerated version.
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