Increasing research & development expenditure along with the technological advancement in the analytical instruments are generating the demand for laboratory centrifuge & accessories. The adoption of laboratory centrifuge & accessories is increasing in hospitals and diagnostics centres for the treatment of diseases at the molecular level in order to better understand the nature of the disease.
Moreover, with the emergence of automation in laboratories, the demand for advanced laboratory centrifuge & accessories is increasing to overcome the challenges of conventional laboratory centrifuge & accessories in terms of volume and speed.
Laboratory centrifuge is an equipment which is driven by motor and spins liquid samples at high speed to separate substances of different densities. Laboratory centrifuge & accessories are essential equipment in most of the laboratories to meet the application needs for clinical & blood banking, drug discovery, proteomics, and for molecular biology.
The increasing demand for laboratory centrifuge & accessories to meet the specific demand for component separation process is propelling the growth of laboratory centrifuge & accessories market. Furthermore, the advancements in various sectors such as diagnostics, microbiology, and forensics research is supporting the demand for laboratory centrifuge & accessories market.
Drivers
The increasing number of pharmaceutical and biotechnology research centres is the key factor driving the growth of laboratory centrifuge & accessories market. Moreover, with the growing aging population and increasing prevalence of diseases, the demand for laboratory centrifuge & accessories is increasing rapidly.
Furthermore, various industries are replacing manual methods of research activities with the advanced technology which is playing a significant role in driving the growth of laboratory centrifuge & accessories market. In addition, the growth of vaccine production is also supporting the high demand for laboratory centrifuge & accessories.
Apart from these, the high investment in research and development activities by government and various private and public organizations is driving the growth of laboratory centrifuge & accessories market. Also, the increasing investments in healthcare sector is also fuelling the growth of laboratory centrifuge & accessories market. Furthermore, the expansion of diagnosis laboratories and drug discovery centres is creating impending growth opportunities for laboratory centrifuge & accessories market.
Challenges
Less adoption of laboratory centrifuge & accessories in various countries of Africa and Latin America is the major challenge for the growth of the market. Moreover, challenges related to the mechanical failure of equipment is also hindering the growth laboratory centrifuge & accessories market.
Key Players
Prominent players in the global laboratory centrifuge & accessories market are Thermo Fisher Scientific, Danaher Corporation, Agilent Technologies, Becton, Hitachi Koki Co., Ltd., QIAGEN, Sartorius, Rucker Diagnostics, Bio-Rad Laboratories, Eppendorf, and Dickinson and Company.
On the basis of geography, North America is anticipated to hold substantial market share in terms of value in laboratory centrifuge & accessories market owing to the high investment in healthcare sector and the presence of key laboratory centrifuge & accessories providers in the region. For instance, the healthcare spending of U.S. accounts for approximately 18% of its GDP in 2017.
Moreover, Europe and Asia Pacific are also expected to capture significant market share in laboratory centrifuge & accessories market due to the high spending on research & development sector by various emerging countries in the region. For instance, China, Japan, and Germany are ranked among the top five largest spenders in research and development sector.
Furthermore, the laboratory centrifuge & accessories markets in MEA and Latin America is also anticipated to grow swiftly owing to the increase in number of research activities and laboratories in the regions.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and 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 segment.
The report also maps the qualitative impact of various market factors on market segments and geographies.
Segmentation of Laboratory Centrifuge & Accessories Market on the Basis of Product Type:
Segmentation of Laboratory Centrifuge & Accessories Market on the Basis of Application:
Segmentation of Laboratory Centrifuge & Accessories Market on the Basis of End Use:
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Laboratory Centrifuge & Accessories Market
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