According to the latest research by Future Market Insights, global shipment of Centrifuge Tubes into all end-use category is predicted to expand at a CAGR of around 7% during the forecast period. Since late 2019, Centrifuge Tubes have been shipped in large volume for R&D testing to laboratories across healthcare and research institutes.
Growing research activities in the healthcare sector, such as medication development, molecular analysis, biology studies, and routine laboratory tests, which take place in clinics and research institutes, are vital contributors to the centrifuge tube market's overall value growth.
Furthermore, significant technological advancements to improve efficiency and lower costs are predicted to boost the market for centrifuge tubes over the forecast period.
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What is Driving Demand for Centrifuge Tubes?
In 2008, global government health-care spending was assessed at US$ 886.7 per capita, and by 2016, it had risen to US$ 1,437.7 per capita. The United States, Germany, France, and Asian countries are among the top countries in terms of per capita income.
Due to the large number of R&D testing labs, hospitals, academic laboratories, and research institutes with superior state of the art facilities and technology, these countries have a promising demand of centrifuge tubes. Other aspects that may contribute to the market's growth include globalization, rising chronic disease prevalence, and increased need for disposable tubes in academic research.
At a CAGR of 5%, the global clinical laboratory services market is expected to reach USD 150 billion by 2022. The increased demand for early and accurate illness detection, growing public-private investments, and research funding and grants to create innovative laboratory testing equipment, as well as developments in clinical diagnostic techniques, are all propelling the market forward.
In every academic or scientific institute, centrifuge tube is one of the most crucial devices. They're utilized to separate biological fluids, cells, and other materials for a range of applications, including diagnosis and treatment. Academic institutions have embraced centrifuge tubes because they are cost effective and less time-consuming & easy cleaning processes
In hospitals, disposable centrifuge tubes are used to collect blood samples. It's a one-time-use tube that doesn't require any pre- or post-use cleaning or sterilization. Owing to above mentioned factors the market for centrifuge tubes is expected to reach heights to high investment from government for enriching research and development.
What are the Key Challenges Faced by Centrifuge Tubes Manufacturers?
Manufacturers of centrifuge tubes confront a number of problems, including:
Requirement of expensive raw materials
Complex and time-consuming manufacturing cycle
Requirement of experienced handling
Expensive supply chain
Furthermore, due to protracted lockdowns and a scarcity of raw materials and labor, the emergence of coronavirus in 2020 has hindered industrial units, while the financial crisis slowed industry expansion even further.
Despite several challenges, the sector is improving, and new innovations, together with the recovery of end use industries, are projected to support demand growth in the near future.
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North America Demand Outlook for Centrifuge Tubes
Key industry participants from all over the globe are watching the United States, which is the prime country in North America's centrifuge tubes market. The United States is expected to maintain its lead over the predicted period, owing to its strong biotechnology and pharmaceutical sectors.
The global healthcare sector increased at a 7.3 percent compound annual growth rate (CAGR) to almost $8,452 billion in 2018, and is expected to grow at an 8.9 percent CAGR to over $11,908.9 billion by 2022. The United States presently tops the world in overall healthcare spending. In 2019, the United States spent $3.8 trillion for healthcare, accounting for 17.8% of its GDP.
Between 2017 and 2018, the United States spent $194.2 billion on medical and health research and development, up 6.4 percent. For the third year in a row, investment in medical and health R&D outpaced overall health spending. The aforementioned causes have fueled significant growth in the North American region over the evaluation period.
Who are the Key Manufacturers and Suppliers of Centrifuge Tubes?
Some of the prominent players in the Centrifuge Tubes are
These players holds the substantial share of global centrifuge tubes market.
To supplement their product variety and create viable variants, players are turning to mergers and acquisitions and purposeful alliances as inorganic growth options.
Eppendorf AG and Koki Holdings Co., Ltd., for example, have agreed that, Eppendorf acquiring Koki's centrifuge business, which includes the premium Himac brand. Both corporations signed a comparable agreement in Tokyo.
Across the regional players, common organic growth tactics of enhancing centrifuge tubes efficiency, reliability, and other related applications have been observed. Moreover, the market for centrifuge tubes, appears to be comparatively open for business, as considerably more research is currently being undertaken, paving the way for the product's innovative growth.
Across the globe, key players are investing in and improving the durability of centrifuge tubes leading to gain potential market over the long run.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments by product type, by end use industry type and by geographies.
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Key Segments
By Type:
Non-Sterile
Sterile
Heat Sterile
Gas Sterile
By Base Shape:
Conical Base
Round Bottom Base
Flat Bottom Base
By Cap Type:
Screw Cap
Ventilation Cap
By Capacity:
Micro Centrifuge
Less than 1 mL
1-2 mL
Standard Centrifuge
Below 25 mL
25-50 mL
50-75 mL
Above 75 mL
By Material:
Glass
Plastic Resin
polypropylene
polystyrene
PET (Polyethylene terephthalate)
Others
By End-use:
Hospitals
Biotechnology Industries
Pharmaceutical Industries
Pathological Laboratories
Academic & Research Institutes
Others
By Region:
North America
US & Canada
Latin America
Brazil, Mexico, Argentina & Rest of Latin America
Europe
Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
East Asia
China, Japan, South Korea
South Asia
India, Thailand, Malaysia, Indonesia and Rest of South Asia
Oceania
Australia and New Zealand
Middle East and Africa
GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
