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%. Market growth is primarily driven by factors such as technological advancements, increasing research, and a high prevalence of target diseases.
However, the market faces major challenges in the form of mechanical failure of equipment (caused due to improper maintenance of rotors) and the release of harmful chemicals in the centrifugation of certain substances. The low replacement value of centrifuges (due to their long lifespans) may hinder market growth.
The research methodology used to estimate the market size includes the following:
# The key players in the industry and markets have been identified through extensive secondary research.
# Laboratory centrifuges revenue generated by the leading players have been determined through primary and secondary research processes.
# All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
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The laboratory centrifuges market has several big players. Key players in the 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).
These players have adopted various growth strategies, such as partnerships, agreements, and collaborations; and new product launches, to further expand their presence in the laboratory centrifuges market.
Product launches have been the key growth strategies adopted players from 2016 to 2018, which helped them to innovate on their offerings and broaden their customer base. Some of the leading players who adopted this strategy include Thermo Fisher Scientific Inc. (US), Eppendorf AG (Germany), and Danaher Corporation (US).
Recent Industry Developments:
# In 2016, Thermo Fisher Scientific launched Medifuge
# In 2016, Beckman Coulter partnered with Henry Ford Health System. This partnership aimed to enhance and streamline operations by fully automating the Henry Ford Hospital laboratory and modernizing the equipment at 12 other Henry Ford locations.
# In 2018, Eppendorf launched Centrifuge 5425
Thermo Fisher Scientific Inc. is one of the leading players in laboratory centrifuges market. The company’s strong brand recognition and extensive product portfolio in the laboratory centrifuges market is its key strength. To maintain a leading position in the market, Thermo Fisher has adopted product launches as its key organic growth strategy. Thermo Fisher has a robust promotional strategy in place and participates in various trade exhibitions, seminars, and workshops to promote its products. It is also supported by a strong sales force in over 180 countries.
Key Questions addressed by the report:
# Where will all these developments take the industry in the mid to long term?
# Which are the key players in the market and how intense is the competition?
# Which are the recent contracts and agreements key players have signed?
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Eppendorf AG is one of the key players in the laboratory centrifuges market. The company’s leading position in the market can be attributed to its focus on product innovation. The company focuses on the development of its R&D capabilities, core competence, and on meeting customer and market demands.
This has allowed Eppendorf to introduce innovative products in the market. In the last two years, the company launched Centrifuge 5425, 5910 R, and refrigerated centrifuge 5920 R. This strengthened the company’s product portfolio and helped it to maintain its position in the market. The company has a strong presence across Europe, the Americas, APAC, and Africa. In 2018, the company launched Centrifuge 5425, 5910 R. This strengthened the company’s product portfolio and helped it to maintain its position in the market.