Laboratory Centrifuge Market to Witness Impressive Growth, Reaching US$ 2.9 Billion by 2032 | Allied Market Research
The growth of laboratory centrifuge market is attributed to a rise in prevalence of diseases, surge in R&D activities and rise in demand of blood components. Furthermore, an increase in launch of technologically advanced laboratory centrifuge is expected to further drive market growth during the forecast period.
According to the report, the global laboratory centrifuge industry generated $1.9 billion in 2022 and is anticipated to generate $2.9 billion by 2032, witnessing a CAGR of 4.1% from 2023 to 2032.
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Laboratory Centrifuge Statistics:
- The accessories segment is projected to manifest the highest CAGR of 5.2% from 2023 to 2032.
- The same segment is projected to manifest the highest CAGR of 4.2% from 2023 to 2032
- The swinging bucket rotors segment is projected to manifest the highest CAGR of 4.6% from 2023 to 2032
- The blood component separation segment is expected to witness the fastest CAGR of 5.7% from 2023 to 2032
- The academic & research institutes segment is expected to witness the fastest CAGR of 5.0% from 2023 to 2032
- Asia-Pacific region is expected to witness the fastest CAGR of 5.2% from 2023 to 2032.
Economic Downturn Analysis: Impact of Recession in 2023 on the Laboratory Centrifuge Market
- Startups and smaller businesses in the laboratory centrifuge sector, which often rely on loans or investments to fund their operations and expansion, may face challenges in obtaining affordable financing. This can hinder their ability to invest in R&D, product innovation, and market expansion.
- However, the long-term potential for laboratory centrifuge market growth remains insignificant due to rise in prevalence of disease, increase in R&D activities, and surge in launch of laboratory centrifuge.
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Factors affecting the growth of the Laboratory Centrifuge Market:- Technological Advancements: Advances in centrifuge technology, such as the development of high-speed and ultra-speed centrifuges, improvements in rotor designs, and the integration of automation and digitalization, drive market growth.
- Rising Demand in Healthcare and Life Sciences: The increasing demand for laboratory centrifuges in healthcare facilities, research laboratories, pharmaceutical companies, and academic institutions for applications such as cell separation, DNA isolation, and protein purification fuels market growth.
- Expanding Biotechnology and Pharmaceutical Industries: The growth of the biotechnology and pharmaceutical sectors, especially in emerging economies, leads to higher demand for laboratory centrifuges for research, development, and quality control purposes.
- Prevalence of Chronic Diseases: The rising prevalence of chronic diseases worldwide drives the demand for laboratory centrifuges used in clinical diagnostics, particularly in areas such as hematology, microbiology, and molecular biology.
- Government Initiatives and Funding: Government initiatives to promote research and development in life sciences, along with funding support for laboratory infrastructure, contribute to market expansion.
Regional Analysis:
North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global laboratory centrifuge market revenue, owing to robust healthcare infrastructure, presence of key players, and rise in healthcare expenditure. However, the Asia-Pacific region is expected to witness the fastest CAGR of 5.2% from 2023 to 2032 and is likely to dominate the market during the forecast period, owing to a rise in prevalence of chronic infectious disease, unmet medical demands, and rise in R&D activities.
Market Segmentation:
Type of Centrifuge:
- Benchtop Centrifuges: Compact centrifuges suitable for routine laboratory applications.
- Floor-standing Centrifuges: Larger centrifuges designed for higher capacities and specialized applications.
- Ultracentrifuges: High-speed centrifuges used for applications requiring ultra-high speeds and precision, such as molecular biology and biochemistry research.
Rotor Design:
- Fixed-angle Rotors: Rotors with fixed angles relative to the axis of rotation, suitable for pelleting particles or cells.
- Swinging Bucket Rotors: Rotors where sample tubes swing out during centrifugation, useful for gradient separations and large-volume processing.
- Vertical Rotors: Rotors where tubes are oriented vertically during centrifugation, often used in ultracentrifugation for density gradient separations.
Application:
- Clinical Diagnostics: Centrifuges used in clinical laboratories for routine diagnostic tests such as blood cell counting, serum separation, and urine analysis.
- Biotechnology and Pharmaceutical Research: Centrifuges utilized in research and development activities including cell culture, protein purification, and DNA isolation.
- Microbiology: Centrifuges employed in microbiology laboratories for bacterial and fungal culture, as well as for microbial cell harvesting.
- Molecular Biology: Centrifuges used for DNA/RNA extraction, PCR amplification, and nucleic acid purification.
- Chemical and Environmental Analysis: Centrifuges applied in environmental testing for water quality analysis, pollution monitoring, and soil sample preparation.
- Food and Beverage Industry: Centrifuges utilized in food processing and quality control for tasks such as cream separation, clarification, and sedimentation.
End User:
- Hospitals and Clinics: Centrifuges used in healthcare settings for diagnostic purposes.
- Research Laboratories: Centrifuges employed in academic, government, and private research institutions for various scientific studies.
- Biotechnology and Pharmaceutical Companies: Centrifuges utilized in drug discovery, bioprocessing, and quality control.
- Diagnostic Laboratories: Centrifuges used in specialized diagnostic laboratories for pathology, hematology, and microbiology testing.
- Food Testing Laboratories: Centrifuges employed in food safety and quality assurance laboratories.
Geography:
- North America: Includes the United States and Canada.
- Europe: Comprising countries in the European Union and the European Economic Area.
- Asia Pacific: Including countries such as China, India, Japan, and Australia.
- Latin America: Encompassing countries in Central and South America.
- Middle East and Africa: Including countries in the Middle East and Africa region.
Leading Market Players:
- Agilent Technologies Inc.
- Becton, Dickinson and Company
- Danaher Corporation
- Eppendorf SE
- Kubota Corporation
- Lepu Medical Technology (Beijing) Co. Ltd.
- NuAire, Inc.
- QIAGEN N.V.
- Sartorius AG
- Thermo Fisher Scientific Inc.
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