As per a recent report published by Fact.MR, the global laboratory centrifuge market is poised to grow at a CAGR of 2.5% from 2022 to 2032, expected to close at a valuation of US$ 2.1 Billion. Rising complexities in the nature and incidence of multiple chronic and infectious ailments are prompting healthcare providers to investigate advanced therapeutic and diagnostic approaches, for which deployment of sophisticated laboratory centrifuges is becoming important.
From 2015 to 2021, the market for Laboratory Centrifuge grew at a CAGR of 2.1%, closing at a value of US$ 1.6 Billion. As of 2022, the industry is likely to reach US$ 1.65 Billion. Laboratory centrifuges are highly sought after in biotechnological research, attributed to their exclusive properties, including high efficiency in separating suspended particles, easy sedimentation of cells and viruses, and isolation of macromolecules.
As the medical industry expands, there are increasingly more clinical trials and analytical tests requested for different lab procedures. With the demand for new labs and instruments, laboratory centrifuges will continue to increase. As a result of their cost-effective nature, they are highly demanded in the market.
Key Takeaways from the Market Study
- Global laboratory centrifuge market to flourish 1.3x from 2022-2032
- Micro laboratory centrifuges to be a top-selling category, capturing more than 3/5th market share
- By application, laboratory centrifuges for the hospitals to expand at a CAGR of 3.1%
- S to emerge as an opportunistic laboratory centrifuge market, documenting a 2.3% CAGR
- China to be a significant market, expected to be valued at US$ 500 Million in 2032
- Germany to document the highest value CAGR, registering a growth rate of 4%
“As the global incidence of chronic and infectious diseases multiplies, healthcare providers are discovering advanced therapeutic and diagnostic alternatives, which will spearhead the demand for laboratory centrifuges in the long run,” comments a Fact.MR analyst.
Competitive Landscape
The global market for Laboratory Centrifuge is characterized by the presence of multiple vendors, aiming to offer extensive consulting and integration services to clients. Additionally, enterprises are seeking out, specialized service providers, offering solutions tailor-made to suit their business objectives. In addition, the vendors are likely to leverage up-gradation and product differentiation to gain an edge over other competitors in the market.
- Thermo Fisher, a leading global provider of science-related services, acquired PPD, Inc., a leading provider of clinical research services to the pharmaceutical and biotech industries. This acquisition will help Thermo Fisher to expand its services for pharmaceutical and biotechnology companies.
- In June 2021, Quest Diagnostics completed the acquisition of Mercy’s Outreach Laboratory Services business. The transaction aims to increase access to innovative, high-quality, and affordable laboratory services to provide affordable patient care throughout the Midwest. Upon completing the acquisition, Quest will gain immediate access to a wider network of healthcare professionals in Kansas, Arkansas, Missouri, and Oklahoma.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global laboratory centrifuge market, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights based on product type (multipurpose centrifuges, micro laboratory centrifuges, ultra-laboratory centrifuges and others) and application (biotechnology & pharmaceutical companies, academic & research institutes, hospitals, diagnostics and other applications) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and the Middle East & Africa).
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