Research Methodologies Followed:
Primary Research:
Primary research was conducted to identify segmentation types; industry trends; key players; and key laboratory centrifuge industry dynamics such as drivers, restraints, opportunities, challenges, industry trends, and strategies adopted by key players.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. Primary sources are mainly industry experts from the core and related industries and preferred suppliers, manufacturers, distributors, technology developers, researchers, and organizations related to all segments of this industry’s value chain.
In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts, to obtain and verify the critical qualitative and quantitative information as well as assess future prospects.
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Secondary Research:
Secondary research was mainly used to obtain key information about the industry’s supply chain; the market’s monetary chain; the total pool of key players; market classification and segmentation according to industry trends to the bottom-most level; geographical markets; and key developments from both market- and technology-oriented perspectives.
In the secondary research process, various secondary sources were referred to identify and collect information for this study. Secondary sources include annual reports, press releases, and investor presentations of companies, white papers, journals, certified publications, articles from recognized authors, gold-standard and silver-standard websites, disease-specific organizations, directories, and databases.
Expected Revenue Growth in Near Future:
The laboratory centrifuges market is expected to reach USD 1.2 billion by 2023 from USD 1.1 billion in 2018, at a CAGR of 2.8%.
Major Growth Boosting Factors:
Market growth is primarily driven by factors such as technological advancements, increasing research, and a high prevalence of target diseases.
Technological Advancements:
Innovation in the field of laboratory centrifuges is majorly centered on enhancing convenience, speed, compactness, safety, efficiency, and accuracy. Rotors used in centrifuges were earlier made of tensile steel, and then replaced with aluminum and titanium alloys. Carbon fiber rotors, in addition, are much lighter than their counterparts—these rotors weigh 8 kg, as opposed to earlier 21-kg aluminum rotors. Carbon fiber increases the flexibility of the rotor and makes them resistant to chemical corrosion and structural fatigue. The FIBERLite Fixed-Angle Rotor by Beckman Coulter (acquired by Danaher) and Thermo Scientific Fiberlite rotors, for example, are made of carbon fiber.
Moreover, the introduction of high-speed centrifuges has considerably reduced the amount of time required for centrifugation, while decreasing the possibility of hazards arising during the process. Advancements in design have made it easier to replace and maintain key equipment parts, such as the rotors.
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Geographical Growth Scenario:
Asia to grow at the highest CAGR during the forecast period
The laboratory centrifuges market has been segmented into four major regions, namely, North America, Europe, Asia, and the Rest of the World (RoW). Currently, North America dominates the global laboratory centrifuges market, and this trend is expected to continue during the forecast period.
However, the market in Asia is estimated to grow at the highest CAGR during the forecast period. The presence of emerging economies such as China and India and the increasing R&D investments by pharmaceutical and biotechnology companies in this region are the major factors supporting the growth of the Asian laboratory centrifuges market.
Global Leaders:
Key players in the laboratory centrifuges market include Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Eppendorf AG (Germany), Sigma Laborzentrifugen GmbH (Germany), Andreas Hettich GmbH & Co. KG (Germany), Kubota Corporation (Japan), Koki Holdings Co., Ltd. (Japan) (previously Hitachi Koki Co., Ltd.), QIAGEN N.V. (Netherlands), NuAire (US), Sartorius (Germany), HERMLE Labortechnik GmbH (Germany), and Becton, Dickinson and Company (US).
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