Laboratory Centrifuge Market - Expected Revenue Growth, Globally, by 2026

 Overview:

The study involved four major activities to estimate the current size of the laboratory centrifuges market. Exhaustive secondary research was done to collect information on the market and its different subsegments.

The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.

Expected Revenue Gains:

The laboratory centrifuges market is projected to reach USD 2.2 billion by 2026 from USD 1.8 billion in 2021, at a CAGR of 4.0% from 2021 to 2026.

Major Growth Boosting Factors:

The growth of this market is driven by increasing R&D investments and research grants; rising technological advancements and innovative rotor designs; increasing prevalence of infectious diseases leading to a higher volume of sample testing & cell-based research in laboratory centrifuges; and widening applications of laboratory centrifuges.

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“Equipment are expected to hold the largest share of the laboratory centrifuges market, by product in 2021.”

Based on product, the laboratory centrifuges market is segmented into equipment and accessories. In 2020, the equipment segment accounted for the largest share of the laboratory centrifuges market. The large share of the equipment segment can be attributed to the requirement of the repeated purchase of accessories such as tubes, bottles, and buckets.

“Benchtop centrifuges are expected to hold the largest share of the laboratory centrifuges market, by model type in 2021.”

Based on model type, the laboratory centrifuges market is segmented into benchtop and floor-standing centrifuges. Among these, the benchtop centrifuges segment accounted for the larger market share since these 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.

“General purpose centrifuges are expected to hold the largest share of the laboratory centrifuges market, by intended use in 2021.”

Based on intended use, the laboratory centrifuges market is segmented into clinical, preclinical, and general purpose centrifuges. The general purpose centrifuges segment accounted for the largest market share in 2020, owing to an increase in cellular research and the diagnosis of blood-related diseases are the major factors driving the growth of this market.

“Fixed-angle rotors are expected to hold the largest share of the laboratory centrifuges market, by rotor design in 2021.”

Based on rotor design, the laboratory centrifuges market is segmented into swinging-bucket rotors, fixed-angle rotors, vertical rotors, and other rotors based on rotor design. The fixed-angle rotors segment accounted for the largest share in the laboratory centrifuge equipment market in 2020. Factors such as increasing protein research activities and advantages associated with fixed-angle rotors such as fast runtime and excellent resolution are driving the growth of this market.

“Diagnostics segment are expected to hold the largest share of the laboratory centrifuges market, by application in 2021.”

Based on application, the laboratory centrifuges market is segmented into diagnostics, microbiology, cellomics, genomics, proteomics, blood component separation, and other applications (biochemical analysis and nanotechnology research). In 2020, the diagnostics segment accounted for the largest share of the laboratory centrifuges market, owing to the rising prevalence of various diseases and the focus on ensuring early disease diagnosis are the major factors driving the growth of the laboratory centrifuges market for this application segment.

“Hospitals are expected to hold the largest share of the laboratory centrifuges market, by end user in 2021.”

Based on end user, the laboratory centrifuges market is segmented into hospitals, biotechnology & pharmaceutical companies, and academic & research institutes. The hospitals segment accounted for the largest share in the laboratory centrifuges market in 2020. The increasing prevalence of diseases, coupled with the growing awareness regarding early diagnosis & 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.

“North America commanded the largest share of the laboratory centrifuges market in 2021.”

Based on region, the laboratory centrifuges market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). In 2020, North America commanded the largest share of the laboratory centrifuges market. The large share of North America can be attributed to the rising R&D investments by government bodies, increasing emphasis on better management and the treatment of infectious diseases, and rapid growth in the pharmaceutical industry.

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Key Players:

The major players operating in this market are Thermo Fisher Scientific, Inc. (US), Danaher Corporation (US), and Eppendorf AG (Germany), KUBOTA Corporation (Japan), Sigma Laborzentrifugen GmbH (Germany), NuAire (US), Sartorius AG (Germany), Andreas Hettich GmbH & Co.KG (Germany), HERMLE Labortechnik GmbH (Germany), Cardinal Health (US), Agilent Technologies (US), Centurion Scientific (UK), QIAGEN N.V. (Netherlands), and Bio-Rad Laboratories, Inc. (US).

Laboratory Centrifuge Market - Future Growth Prospects & Forthcoming Innovations

Research Methodologies Followed for This Study:

Secondary Research:

Secondary research was mainly used to obtain key information about the industry’s supply chain; the market’s monetary chain; the total pool of key players; market classification and segmentation according to industry trends to the bottom-most level; geographical markets; and key developments from both market- and technology-oriented perspectives. 

In the secondary research process, various secondary sources were referred to identify and collect information for this study. Secondary sources include annual reports, press releases, and investor presentations of companies, white papers, journals, certified publications, articles from recognized authors, gold-standard and silver-standard websites, disease-specific organizations, directories, and databases.

Primary Research

Primary research was conducted to identify segmentation types; industry trends; key players; and key laboratory centrifuge industry dynamics such as drivers, restraints, opportunities, challenges, industry trends, and strategies adopted by key players. In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. Primary sources are mainly industry experts from the core and related industries and preferred suppliers, manufacturers, distributors, technology developers, researchers, and organizations related to all segments of this industry’s value chain.

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In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts, to obtain and verify the critical qualitative and quantitative information as well as assess future prospects.

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.

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. 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).

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Laboratory Centrifuge Market - Global Future Forecasts & Emerging Trends

 The study involved four major activities to estimate the current market size for laboratory centrifuge market. Exhaustive secondary research was done to collect information on market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation was used to estimate the market size of segments and subsegments.

Expected Revenue Growth

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%.

Growth Influencing Factors:

Increasing R&D activity:

Pharmaceutical and biotechnology companies, being an integral part of the life science industry, invest heavily in research to develop breakthrough molecules to meet the growing needs of the healthcare sector. Moreover, the impending patent cliff has also led to an increase in biopharmaceutical research activity.

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Market growth is primarily driven by factors such as technological advancements, increasing research, and a high prevalence of target diseases.

Technological advancements:

Innovation in the field of laboratory centrifuges is majorly centered on enhancing convenience, speed, compactness, safety, efficiency, and accuracy. Rotors used in centrifuges were earlier made of tensile steel, and then replaced with aluminum and titanium alloys. Carbon fiber rotors, in addition, are much lighter than their counterparts—these rotors weigh 8 kg, as opposed to earlier 21-kg aluminum rotors. Carbon fiber increases the flexibility of the rotor and makes them resistant to chemical corrosion and structural fatigue. The FIBERLite Fixed-Angle Rotor by Beckman Coulter (acquired by Danaher) and Thermo Scientific Fiberlite rotors, for example, are made of carbon fiber.

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. 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.

Global Leaders:

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).

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Laboratory Centrifuge Market - Global Leaders and Growth Strategies Adopted by Them

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.

However, the market faces major challenges in the form of mechanical failure of equipment (caused due to improper maintenance of rotors) and the release of harmful chemicals in the centrifugation of certain substances. The low replacement value of centrifuges (due to their long lifespans) may hinder market growth.

The research methodology used to estimate the market size includes the following:

# The key players in the industry and markets have been identified through extensive secondary research.

# Laboratory centrifuges revenue generated by the leading players have been determined through primary and secondary research processes.

# All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

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The laboratory centrifuges market has several big players. Key players in the 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).

These players have adopted various growth strategies, such as partnerships, agreements, and collaborations; and new product launches, to further expand their presence in the laboratory centrifuges market.

Product launches have been the key growth strategies adopted players from 2016 to 2018, which helped them to innovate on their offerings and broaden their customer base. Some of the leading players who adopted this strategy include Thermo Fisher Scientific Inc. (US), Eppendorf AG (Germany), and Danaher Corporation (US).

Recent Industry 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

Thermo Fisher Scientific Inc. is one of the leading players in laboratory centrifuges market. The company’s strong brand recognition and extensive product portfolio in the laboratory centrifuges market is its key strength. To maintain a leading position in the market, Thermo Fisher has adopted product launches as its key organic growth strategy. Thermo Fisher has a robust promotional strategy in place and participates in various trade exhibitions, seminars, and workshops to promote its products. It is also supported by a strong sales force in over 180 countries.

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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Eppendorf AG is one of the key players in the laboratory centrifuges market. The company’s leading position in the market can be attributed to its focus on product innovation. The company focuses on the development of its R&D capabilities, core competence, and on meeting customer and market demands.

This has allowed Eppendorf to introduce innovative products in the market. In the last two years, the company launched Centrifuge 5425, 5910 R, and refrigerated centrifuge 5920 R. This strengthened the company’s product portfolio and helped it to maintain its position in the market. The company has a strong presence across Europe, the Americas, APAC, and Africa. In 2018, the company launched Centrifuge 5425, 5910 R. This strengthened the company’s product portfolio and helped it to maintain its position in the market.