Rising prevalence and incidences of various diseases, increasing focus on research, technological advancements, and growth in aging population are all major factors driving the growth of the laboratory centrifuges market.
The laboratory centrifuges market is segmented on the basis of product type, rotor design, application, intended use, end user, and region. On the basis of product type, in 2015, the equipment segment accounted for the largest share of the laboratory centrifuges market. This growth is due to the increasing need for early diagnosis of diseases; prevalence of various diseases such as cancer, HIV, and other diseases; and increasing focus on biotech and life science research. This segment is expected to grow at a high CAGR in the forecast period.
Based on product type, the market is segmented into equipment and accessories. On the basis of rotor design, it is segmented into swinging-bucket rotors, fixed-angle rotors, vertical rotors, and other rotors. On the basis of application, it is segmented into diagnostic, microbiology, cellomics, genomics, proteomics, blood component separation, and other applications. On the basis of intended use, the market is segmented into general-purpose centrifuges, clinical centrifuges, preclinical centrifuges, and preparative centrifuges. By end user, it is segmented into hospitals, biotechnology and pharmaceutical companies, and academic and research institutions.
Presently, North America dominates the laboratory centrifuges market. The increasing need of drug development, well-developed infrastructure in laboratories and research organizations, and the existence of prominent players in the market within the region are some of the factors that are driving the growth of the market in North America. Apart from this, new product developments are also driving the growth of the market in this region. For instance, in February 2016, Thermo fisher scientific, Inc. (U.S.) introduced Medifuge, a benchtop centrifuge. This instrument has a 2-in-1 hybrid rotor that supports both fixed-angle and swinging buckets. This launch enabled the company to increase its product portfolio and customer base.
Based on countries covered in this study, the Asian laboratory centrifuges market is segmented into India, and countries in the Rest of Asia (RoA). Countries such as China and India are the new revenue pockets for the laboratory centrifuges market. The significant opportunities for market players in these countries can largely be attributed to factors such as rising incidences of various diseases that require early-stage diagnosis and treatment and increasing healthcare infrastructure.