The laboratory centrifuges market is expected to reach USD 1.2 billion by 2023 from USD 1.1 billion in 2018, at a CAGR of 2.8%. Market growth is primarily driven by factors such as technological advancements, increasing research, and a high prevalence of target diseases.
The hospitals segment to dominate the laboratory centrifuges market in 2018.
Based on end users, the laboratory centrifuges market is segmented into hospitals, biotechnology and pharmaceutical companies, and academic and research institutes. The hospitals segment is expected to account for the largest share of the laboratory centrifuges market in 2018.
The increasing prevalence of diseases, coupled with the growing awareness regarding early diagnosis and treatment, increasing demand for blood, availability of novel and technologically advanced centrifuges for blood separation, and growing number of hospitals, especially in emerging countries, are some of the key factors driving the growth of the laboratory centrifuges market for hospitals.
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Objectives Behind this Study:
# To define, describe, and forecast the laboratory centrifuge market on the basis of product type, rotor design, intended use, model type, application, end user, and region
# To analyze the market structure and provide a forecast of the market
# To analyze detailed information about factors influencing market growth (drivers, restraints, threats, and opportunities)
# To strategically analyze the micromarkets with respect to their individual growth trends, prospects, and contributions to the global market
# To analyze market opportunities for stakeholders and to draw a competitive landscape for key players
# To forecast the revenues of the market segments with respect to four main geographies, namely, North America, Europe, Asia, and the Rest of the World (RoW)
# To profile the key players and comprehensively analyze their market shares and core competencies
# To track and analyze competitive developments such as acquisitions, product launches, expansions, agreements, partnerships, collaborations, and R&D activities in the laboratory centrifuge market
The benchtop centrifuges segment is expected to account for the largest market share of in 2018
On the basis of model type, the laboratory centrifuge equipment market is segmented into benchtop centrifuges and floor-standing centrifuges. Among these, the benchtop centrifuges segment is expected to account for the largest market share in 2018. Benchtop centrifuges are cost-effective, versatile, easy-to-use, smaller in size, and considerably lighter in weight. These advantages have resulted in their increased adoption in the laboratory centrifuges market.
Asia to grow at the highest CAGR during the forecast period
The laboratory centrifuges market has been segmented into four major regions, namely, North America, Europe, Asia, and the Rest of the World (RoW). Currently, North America dominates the global laboratory centrifuges market, and this trend is expected to continue during the forecast period.
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However, the market in Asia is estimated to grow at the highest CAGR during the forecast period. The presence of emerging economies such as China and India and the increasing R&D investments by pharmaceutical and biotechnology companies in this region are the major factors supporting the growth of the Asian laboratory centrifuges market.
Key players in the laboratory centrifuges market include Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Eppendorf AG (Germany), Sigma Laborzentrifugen GmbH (Germany), Andreas Hettich GmbH & Co. KG (Germany), Kubota Corporation (Japan), Koki Holdings Co., Ltd. (Japan) (previously Hitachi Koki Co., Ltd.), QIAGEN N.V. (Netherlands), NuAire (US), Sartorius (Germany), HERMLE Labortechnik GmbH (Germany), and Becton, Dickinson and Company (US).
Recent Developments:
# In 2016, Thermo Fisher Scientific launched Medifuge
# In 2016, Beckman Coulter partnered with Henry Ford Health System. This partnership aimed to enhance and streamline operations by fully automating the Henry Ford Hospital laboratory and modernizing the equipment at 12 other Henry Ford locations.
# In 2018, Eppendorf launched Centrifuge 5425
Key Questions addressed by the report:
# Where will all these developments take the industry in the mid to long term?
# Which are the key players in the market and how intense is the competition?
# Which are the recent contracts and agreements key players have signed?
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