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Laboratory Centrifuge Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR43654
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The laboratory centrifuge market share is expected to increase by USD 269.25 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 3%.

This laboratory centrifuge market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers laboratory centrifuge market segmentation by product (benchtop centrifuges and floor standing centrifuges), application (research and diagnostics), and geography (North America, Europe, Asia, and ROW). The laboratory centrifuge market report also offers information on several market vendors, including Agilent Technologies Inc., Avantor Inc., Azer Scientific Inc., Benchmark Scientific Inc., Bio Rad Laboratories Inc., Biosan, Centurion Scientific Ltd., Corning Inc., Danaher Corp., and Eppendorf AG among others.

What will the Laboratory Centrifuge Market Size be During the Forecast Period?

Laboratory Centrifuge Market Size

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Laboratory Centrifuge Market: Key Drivers, Trends, and Challenges

The increasing use of molecular diagnostics in hospitals is notably driving the laboratory centrifuge market growth, although factors such as cost associated with maintenance and post-purchase service may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the laboratory centrifuge industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Laboratory Centrifuge Market Driver

The increasing use of molecular diagnostics in hospitals is a major driver fueling the laboratory centrifuge market growth.  Molecular diagnostics involves particles collected from the blood or other body fluids of patients. These fluids have additional substances apart from the desired molecule, and there is a need to segregate them for better diagnosis. Thus, centrifuges such as microcentrifuges and mini centrifuges are used in large-sized hospitals and diagnostic centers to separate body fluids. The use of laboratory centrifuges is increasing in hospitals and diagnostic centers. There has been an increase in the number of medium and large-sized hospitals. The type of centrifuges used in different hospitals is based on the needs of patients. The increasing prevalence of infectious diseases, expanding healthcare infrastructure in emerging countries, and technological advances in centrifuges are increasing the number of hospitals and diagnostic centers. However, the lack of skilled professionals who can handle such equipment could affect the growth of the market.

Key Laboratory Centrifuge Market Trend

The emergence of next-generation centrifuge systems is a major trend influencing the laboratory centrifuge market growth.  Next-generation centrifuge systems, also called smart centrifuges, are an outcome of IoT. They are pre-fitted with microprocessors, which provide indications and assistance to users. These next-generation centrifuge systems are capable of overcoming the limitations of conventional centrifuges as they provide better efficiency in terms of speed, volume, and space occupied. Their prominent features include automatic electric brakes, speed control mechanisms, and a safety feature to switch off the run while the lid is open for saving the samples. These advanced features can lead to the increased adoption of laboratory centrifuges. However, next-generation centrifuge systems are expensive. The allocation of government grants to share the cost of these centrifuges can increase their adoption. Thus, the emergence of next-generation centrifuge systems is expected to drive the growth of the market during the forecast period.

Key Laboratory Centrifuge Market Challenge

The cost associated with maintenance and post-purchase service is a major hindrance to the laboratory centrifuge market growth. Generally, centrifuges have a warranty. However, in some cases, the accessories or the equipment become obsolete. Thus, they will have to be replaced. The breakdown time of centrifuges is crucial for laboratories as many laboratories have low-volume samples that cannot be stored for long. The cost of purchase is high due to the intricate design of centrifuges. The cost differs based on the type of centrifuge used for different purposes. However, it is essential to maintain the instrument well to prevent additional expenses. The improper handling of centrifuges by unskilled professionals can lead to rotor damage and breakdown. Such errors can increase the overall cost of centrifuges, which could affect their adoption.Manufacturers generally service the centrifuges themselves. However, sometimes, third-party service providers perform service and rectification. These third-party services providers can cost more than the manufacturers. This could affect the adoption of laboratory centrifuges. However, technological advances that indicate the need for maintenance could reduce the impact of this challenge during the forecast period.

This laboratory centrifuge market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global laboratory centrifuge market as a part of the global life science tools and services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the laboratory centrifuge market during the forecast period.

Who are the Major Laboratory Centrifuge Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Agilent Technologies Inc.
  • Avantor Inc.
  • Azer Scientific Inc.
  • Benchmark Scientific Inc.
  • Bio Rad Laboratories Inc.
  • Biosan
  • Centurion Scientific Ltd.
  • Corning Inc.
  • Danaher Corp.
  • Eppendorf AG

 

This statistical study of the laboratory centrifuge market encompasses successful business strategies deployed by the key vendors. The laboratory centrifuge market is fragmented and the vendors are adopting organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The laboratory centrifuge market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Laboratory Centrifuge Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the laboratory centrifuge market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

 

Which are the Key Regions for Laboratory Centrifuge Market?

Laboratory Centrifuge Market Market segmentation by region

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33% of the market's growth will originate from North America during the forecast period. The US is a key market for laboratory centrifuges in North America.  Market growth in this region will be faster than the growth of the market in regions.

The increasing use of molecular diagnostics in hospitals will facilitate the laboratory centrifuge market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

Owing to the outbreak of COVID-19, research on cell-based therapies and the development of novel therapies for the treatment of COVID-19 have increased in the region, which is expected to contribute to the growth of the laboratory centrifuge market in North America during the forecast period. For instance, in April 2020, the US FDA granted approval to a group of scientists for conducting a clinical trial to test the safety and exploratory efficacy of umbilical cord-derived mesenchymal stem cells for the prevention of life-threatening lung inflammation accompanied by severe COVID-19 in the region. Therefore, growing cell-based research and therapies in the region are expected to contribute to the growth of the laboratory centrifuge market during the forecast period.

What are the Revenue-generating Product Segments in the Laboratory Centrifuge Market?

Laboratory Centrifuge Market Segmentation

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The laboratory centrifuge market share growth in the benchtop centrifuges segment has been significant. The presence of several prominent vendors also contributes to the high share of the market in the region. Significant investments by the governments to improve research in molecular biology and cellular diagnosis as a part of healthcare expenditure also drives the growth of the market in the region. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the laboratory centrifuge market size and actionable market insights on post COVID-19 impact on each segment.

 

Laboratory Centrifuge Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 3%

Market growth 2021-2025

$ 269.25 million

Market structure

Fragmented

YoY growth (%)

2.75

Regional analysis

North America, Europe, Asia, and ROW

Performing market contribution

North America at 33%

Key consumer countries

US, China, UK, Germany, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Agilent Technologies Inc., Avantor Inc., Azer Scientific Inc., Benchmark Scientific Inc., Bio Rad Laboratories Inc., Biosan, Centurion Scientific Ltd., Corning Inc., Danaher Corp., and Eppendorf AG

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Laboratory Centrifuge Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive laboratory centrifuge market growth during the next five years
  • Precise estimation of the laboratory centrifuge market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the laboratory centrifuge industry across North America, Europe, Asia, and ROW
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of laboratory centrifuge market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Benchtop centrifuges - Market size and forecast 2020-2025
    • Floor standing centrifuges - Market size and forecast 2020-2025
    • Market opportunity by Product

    Market Segmentation by Application

    • Market segments
    • Comparison by Application
    • Research - Market size and forecast 2020-2025
    • Diagnostics - Market size and forecast 2020-2025
    • Market opportunity by Application

    Customer landscape

    • Customer landscape

    Geographic Landscape

    • Geographic segmentation
    • Geographic comparison
    • North America - Market size and forecast 2020-2025
    • Europe - Market size and forecast 2020-2025
    • Asia - Market size and forecast 2020-2025
    • ROW - Market size and forecast 2020-2025
    • Key leading countries
    • Market opportunity by geography
    • Market drivers
    • Market challenges
    • Market trends

    Vendor Landscape

    • Overview
    • Landscape disruption

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • Agilent Technologies Inc.
    • Avantor Inc.
    • Azer Scientific Inc.
    • Benchmark Scientific Inc.
    • Bio Rad Laboratories Inc.
    • Biosan
    • Centurion Scientific Ltd.
    • Corning Inc.
    • Danaher Corp.
    • Eppendorf AG

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    TechnavioINFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases
    Technavio

    TechnavioDATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts
    Technavio

    TechnavioREPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
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    Laboratory Centrifuge market growth will increase by $269.25 million during 2021-2025.
    The laboratory centrifuge market is expected to grow at a CAGR of 3.17% during 2021-2025.
    Technavio has segmented the laboratory centrifuge market by product (Benchtop centrifuges and Floor standing centrifuges) ,application (Research, Diagnostics, Asia, and ROW) , and geographic (North America, Europe, Asia, ROW, and North America).
    Agilent Technologies Inc., Avantor Inc., Azer Scientific Inc., Benchmark Scientific Inc., Bio Rad Laboratories Inc., Biosan, Centurion Scientific Ltd., Corning Inc., Danaher Corp., Eppendorf AG are a few of the key vendors in the laboratory centrifuge market.
    North America will register the highest growth rate of 33.25% among the other regions. Therefore, the laboratory centrifuge market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
    The key factors driving the laboratory centrifuge market growth are:
    • Increasing number of biotechnology and pharmaceutical research studies
    • Emergence of next-generation centrifuge systems
    The laboratory centrifuge market vendors should focus on grabbing business opportunities from the benchtop centrifuges segment as it accounted for the largest market share in the base year.
    • What are the key global market and the regional market share?
    • What are the revenue-generating key market segments?
    • What are the key factors driving and challenging this market’s growth?
    • Who are the key market vendors and their growth strategies?
    • What are the latest trends influencing the growth of this market?
    • What are the variables influencing the market growth in the primary regions?
    • What are the factors influencing the growth of the parent market?
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    • Covid-19 impact and recovery analysis
    • Data on revenue-generating market segments
    • Details on the market shares of various regions
    • Five-force market analysis

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