The global lab centrifuges market was valued at US$ 1.5 Billion in 2021, and is projected to reach US$ 1.59 Billion in 2022. The industry is anticipated to secure US$ 2.58 Billion by 2032 while recording a CAGR of 5% during the forecast period from 2022 to 2032. The growth of the market can be attributed to the increasing R&D investments, increasing innovation in rotor designs, and the growing prevalence of infectious diseases resulting in higher sample testing.
| Report Attribute | Details |
| Estimated Base Year Value (2021) | US$ 1.5 Billion |
| Expected Market Value (2022) | US$ 1.59 Billion |
| Anticipated Forecast Value (2032) | US$ 2.58 Billion |
| Projected Growth Rate (2022-2032) | 5% CAGR |
Increasing drug development in the drugs industry and the ongoing technical development in the healthcare industry are expected to boost the market in the coming time. Moreover, rising public and private healthcare investments and the rising adoption of automation technology in hematology are other vital factors escalating the market rise.
Increasing demand for centrifuges results in the development of lab centrifuges, multi-purpose centrifuges, ultracentrifuges, which is expected to offer various opportunities for growth to the market.
The lab centrifuge market is expected to procure a dominant share of the market during the forecast period. The segment may lose some of its shares to medium capacity centrifuge by the end of the forecast period.
Expansion of the segment can be attributed to the hospitals and diagnostic centers. However, the medium-capacity centrifuge segment is projected to witness the highest growth during the assessment period. The segment is projected to flourish owing to various applications of these devices in the life science industry and its feature to accommodate various sizes, types, and volumes of centrifuge tubes.
Innovation in laboratory centrifuges aims on increasing convenience, safety, and accuracy. The introduction of high-speed centrifuges has reduced the time for centrifugation, which has decreased the scope of severities during the process. Besides, the usage of carbon fiber rotors has benefitted the market since they weigh lesser than their counterparts. For instance, FIBERLite Fixed-Angle Rotor by Beckman Coulter and Thermo Scientific Fiberlite rotors are made from carbon fiber.
Players of the market are making various advancements in designs that have provided a significant boost to the market. Thermo Scientific Auto-Lock Rotor by Thermo Fisher Scientific, Inc. allows users to switch rotors quickly. Another player, NuAire developed a patented ClickSpin technology. The technology allows quick, tool-free, and easy rotor changes.
Centrifuges are expensive devices and demand heavy expenditure, which is likely to hamper the market growth in the forecast period. Besides, post-purchase expenses and crucial maintenance costs are other additional costs that are to be incurred by the users. This is likely to discourage users from availing of the device, consequently, hampering the growth.
Other accessories like tubes for high-speed centrifuges are very expensive. Small scratches or cracks can make them a useless device and would demand a replacement, which makes a huge liability to the users. Owing to the aforementioned factors, the market will suffer significantly.
As per FMI’s analysis, the market in APEJ is expected to expand exponentially during the forecast period. The growth of the market can be attributed to the increasing investment in the healthcare sector. The healthcare sectors of India, China, Malaysia, and South Korea are adopting various technologies, which is expected to benefit the lab centrifuges market during the forecast period.
Among all, China is projected to garner maximum market share owing to the growing initiatives by the government to advance the healthcare sector. In addition, an increasing number of diagnostics and rapid growth diagnostics labs in the country are affecting the market positively.
According to the analysis, the market in North America is expected to record a CAGR of 2.3% during the forecast period. Expansion of the regional market can be attributed to the technological development in the healthcare sector, among others. The U.S is projected to make the most significant contribution in developing the market during the forecast period.
The pharmaceutical and biotechnology sectors make significant investments in research to develop advanced medicines to cater to the increasing medical needs of the expanding populace. This is likely to bolster the industry in the forecast period. In addition, the growing patient pool in the region is expected to generate significant demand for lab centrifuges, thereby, benefitting the industry. Also, with various developments in design, rotors have become easier to use, thereby, escalating the market growth in the region.
Key players of the global lab centrifuges market include Kubota Corporation QIAGEN N.V, Koki Holdings Co., Ltd., Agilent Technologies, Inc., NuAire, Sartorius, Danaher Corporation, Thermo Fisher Scientific Inc., Eppendorf AG, Sigma Laborzentrifugen GmbH, Neuation, HERMLE Labortechnik GmbH, Bio-Rad Laboratories, Inc., MSE Centrifuges, Beckman Coulter, Inc., among others.
| Report Attribute | Details |
| Growth Rate | CAGR of 5% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
Product Type:
Centrifugation:
Model:
Rotor Design:
Application:
End Use:
Region:
FMI projects the global market to expand at a 5% value CAGR by 2032
North America is projected to be the most lucrative market, recording a CAGR of 2.3% during the forecast period.
Thermo Fisher Scientific Inc., Eppendorf AG, Sigma Laborzentrifugen GmbH, among others are some of the prominent players of the market.
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Lab Centrifuges Market
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