The global market for Laboratory Centrifuges is projected to reach US$1.3 billion by 2024, driven by aging population prone to chronic diseases, rising emphasis on research to develop superior medicines and continuous technological advancements.
Laboratory centrifuges are essential tools that play a vital role in sample preparation in a wide variety of laboratories. These devices are employed for separating components of heterogeneous liquid samples by spinning them at high speeds. Centrifuges help researchers reliably carry out routine functions such as separation of samples, analysis of foreign particles and density measurements and hence have become indispensable instruments in modern day laboratories. Centrifuges are used in myriad settings and are routinely used in hospitals, research/academic institutions and pharmaceutical/biotechnology labs. Aging population, rising incidence of various diseases, and growing need for more effective drugs are some of the major factors driving research in life science/medicine, which is in turn driving demand for essential laboratory equipment including laboratory centrifuges. Increasing demand for safe whole blood and blood components, growing research in the area of proteomics, and increasingly stringent regulatory requirements are also contributing to growth in the market.
Significant advancements at the technology front are playing a vital role in the market evolution. Size, speed, safety, flexibility, functions and automation are some of the major areas of technological developments witnessed in the field. Advanced continuous flow centrifuges available today run at higher speeds, enabling higher sample volumes, higher throughput and easy separation of even smaller particles. Advancements in programming, cooling, noise reduction, changeable rotor system and automatic imbalance detection capabilities are elevating the functionality and efficiency of lab centrifuges, which are expected to influence new purchases in the following years.
Further, inclusion of microprocessors and connectivity to network devices are raising the bar in precision levels and engendering data management capabilities, which are in turn increasing their functionality in the broader aspect of lab research. Vendors are in a constant endeavor to append capabilities to address diverse and changing needs of end-users, resulting in new product launches that are expected to support market growth. However, factors such as relatively maturity of the developed markets, slower adoption of sophisticated systems in developing markets and high lifespan of centrifuges are restraining growth in the market.
The U.S. represents the largest market worldwide, supported by the presence of major biotechnology and pharmaceutical companies, significant research activity, growing emphasis on advanced research and considerable government support. Asia-Pacific ranks as the fastest growing market with a CAGR of 4.9% through the analysis period, led by huge population base and disease burden; developing healthcare research infrastructure; and robustly growing pharmaceutical industry and growing private sector investments in developing new drugs and therapies. Ultracentrifuges and Bench-Top Centrifuges represent the largest segments in the market supported by benefits such as superior resolution, and faster separation capabilities. Widespread use in biochemical and biomedical analysis is driving demand for micro centrifuges.
Major players in the market include Andreas Hettich GmbH & Co. KG, Beckman Coulter, Inc., Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Drucker Diagnostics, Eppendorf AG, Hitachi Koki Co., Ltd., Kubota Corporation, NuAire, Inc., QIAGEN N.V., Sigma Laborzentrifugen GmbH and Thermo Fisher Scientific Inc. among others.