Laboratory Centrifuges Market by Product (Equipment (Microcentrifuge, Ultracentrifuge), Accessories (Tube, Plate)), Model(Benchtop), Rotor Design(Swinging-bucket), Intended Use(Clinical), Application(Diagnostics) Trend, Analysis & Competition Tracking - Global Market Insights 2021 to 2031

ROCKVILLE Md., Feb. 16, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, from 2016 to 2020, the global market for laboratory centrifuge has grown at a CAGR of almost 2%. Adoption of cutting-edge technologies across medical and diagnostic domains has spurred demand in recent years.

As per the latest report published by Fact.MR, the global laboratory centrifuge market is set to embark on a positive growth path, registering a CAGR of 2.5% to surpass US$ 2 Bn across the 2021-2031 forecast period. By 2021-end, sales are expected to reach US$ 1.6 Bn. Extensive uptake in the pharmaceutical and biotechnology domains are expected to sustain demand.

“As global incidence of chronic and infectious diseases multiplies, healthcare providers are discovering advanced therapeutic and diagnostic alternatives, which will spearhead demand for laboratory centrifuges in the long run,” says the Fact.MR analyst.

From 2016 to 2020, demand for laboratory centrifuges expanded at around 2% CAGR, closing in at a value of US$ 1.5 Bn. Amid the COVID-19 pandemic, prospects dipped in the initial months, attributed to crunches in production and logistical arrangements. However, as cases surged, demand for rapid diagnosis and treatments prompted an acceleration of production levels, restoring said projections.

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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. According to W.H.O, as of 2018, 71% of fatalities globally were due to non-communicable diseases, for which timely treatment is necessary. This incidence will rise in the future, prompting investments in advanced laboratory centrifuges to design appropriate treatment courses.

COVID -19 Impact On The Laboratory Centrifuges Market

The sales and revenue of businesses dealing with laboratory centrifuges experience growth in 2020 due to the COVID-19 pandemic.

There have been some unique technologies launched amid the pandemic in the sector of laboratory centrifuges. For instance:

• During the COVID-19 pandemic in 2020, Indian scientist Manu Prakash and his team developed an extraordinarily affordable centrifuge that works without electricity to separate components in the saliva samples to detect the COVID-19 virus
• In 2021, research-based on RT-LAMP PCR for the high-throughput COVID-19 sample handling was published in Journal, Analyst 2021. It consisted of a polystyrene-toner (PS-T) centrifugal microfluidic device.
• The device is manually controlled by a fidget spinner for molecular diagnosis of COVID-19 by RT-LAMP. It contained an integrated and automated colorimetric detection system. (Source: Journal Analyst 2021; Rapid molecular diagnostics of COVID-19 by RT-LAMP in a centrifugal polystyrene-toner-based microdevice with end-point visual detection.
  

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Key Takeaways from the Market Study

• Global market for laboratory centrifuges to expand 1.2x from 2021 to 2031
• Micro laboratory centrifuges are expected to register a CAGR of 3.5% until 2031
• By application, hospitals are expected to account for nearly 50% of global sales
• U.S to account for 2 out of 5 laboratory centrifuge sales across the forecast period
• Germany most opportunistic market in Europe, expand at around 4% CAGR through 2031
• Asia to be the global investment hotspot, accounting for 55% of global laboratory centrifuge sales

Competitive Landscape

Strategic collaborations can increase the revenue and market share of laboratory centrifuges. Introducing new technologies and products permits manufacturers to enter new markets to expand their businesses.

In June 2021, Moderna announced an agreement with Thermo Fisher Scientific to finish or fill fabrication and packaging services for Moderna’s COVID-19 Vaccine. The project will be completed by the end of 2021. Moderna will continue to expand its relationship as an important manufacturer with Thermo Fisher as a source of raw materials for COVID-19.

In April 2021, Eppendorf announced the launch of the 5910 Ri multipurpose centrifuge. The new Eppendorf Centrifuge 5910 Ri is specifically designed to meet the demands of modern laboratories both now and in the future.

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Country-wise-Analysis of Laboratory Centrifuge Market

Based on region, the laboratory centrifuges market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW).

Fact.MR expects the U.S market to yield 40% of overall demand for laboratory centrifuges until 2031. Backed by advancements in pharmaceutical and biotechnology sectors, the market is anticipated to maintain its lead throughout the forecast period.

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.

Germany has been leading in the world’s second-largest laboratory centrifuge industry - Europe, since the past decade.

Asia is the biggest market for laboratory centrifuges. Current market data indicate a high demand for medical equipment, which is reflected in the growth of the laboratory centrifuge installation in the market. Fact.MR expects it to garner a revenue share worth 55% until 2031.

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Key Segments Covered

Product Type

• Multipurpose Laboratory Centrifuges
• Micro Laboratory Centrifuges
• Ultra-Laboratory Centrifuges
• Other Laboratory Centrifuges

Application

• Laboratory Centrifuges for Biotechnology & Pharmaceutical Companies
• Laboratory Centrifuges for Academic & Research Institutes
• Laboratory Centrifuges for Hospitals
• Laboratory Centrifuges for Diagnostics
• Laboratory Centrifuges for Other Applications
  

Key Points Addressed in Laboratory Centrifuge Industry Analysis

• Market Estimates and Forecasts (2016-2031)
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Brand Share and Market Share Analysis
• Key Product Innovations and Regulatory Climate
• COVID-19 Impact on Laboratory Centrifuges and How to Navigate
• Recommendation on Key Winning Strategies

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