According to the new market research report, "Laboratory Centrifuges Market by Product (Equipment(Microcentrifuge, Ultracentrifuge), Accessories(Tube, Plate)), Model(Benchtop), Rotor Design(Swinging-bucket), Intended Use(Clinical), Application(Diagnostics), End User(Hospitals) - Global Forecast to 2026", is projected to reach USD 2.2 billion by 2026 from USD 1.8 billion in 2021, at a CAGR of 4.0% from 2021 to 2026.
Global Industry Growth Boosting Factors:
The growth of this market is driven by increasing R&D investments and research grants; rising technological advancements and innovative rotor designs; increasing prevalence of infectious diseases leading to a higher volume of sample testing & cell-based research in laboratory centrifuges; and widening applications of laboratory centrifuges.
The study involved four major activities to estimate the current size of the laboratory centrifuges market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.
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Global Leading Players:
The laboratory centrifuges market is highly consolidated in nature, with few well-established players operating in the overall market.
The major players operating in this market are Thermo Fisher Scientific, Inc. (US), Danaher Corporation (US), and Eppendorf AG (Germany), KUBOTA Corporation (Japan), Sigma Laborzentrifugen GmbH (Germany), NuAire (US), Sartorius AG (Germany), Andreas Hettich GmbH & Co.KG (Germany), HERMLE Labortechnik GmbH (Germany), Cardinal Health (US), Agilent Technologies (US), Centurion Scientific (UK), QIAGEN N.V. (Netherlands), and Bio-Rad Laboratories, Inc. (US).
Thermo Fisher Scientific, Inc. (US) was the leading player in the global laboratory centrifuges market, in 2020. 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, the company focuses on R&D activities to develop and introduce new products in the market.
The company increased its R&D expenditure from USD 1,003 million in 2019 to USD 1,181 million in 2020. Thermo Fisher Scientific has a robust promotional strategy in place and participates in various trade exhibitions, seminars, and workshops to promote its products.
Danaher Corporation (US) was the second-largest player in the global laboratory centrifuges market, in 2020. The acquisition of Beckman Coulter in 2011 made Danaher a key competitor in the laboratory centrifuges market. This acquisition helped Danaher to expand its product portfolio in the area of clinical diagnostics through the addition of new and complementary product offerings.
The company also focuses on product development, which led to the release of the Avanti JXN-30 centrifuge. In the past few years, Danaher focused on the strengthening of its business over four decades by acquiring and integrating new companies into a unified whole, improving them through a group of distinctive management practices known as the Danaher Business System (DBS).
Eppendorf AG (Germany) was the third-largest player in the global laboratory centrifuges market 2020. 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 its Multipurpose Centrifuge 5910 Ri, Refrigerated 24-place centrifuge 5425 R, and Refrigerated 24-place centrifuge 5425. This strengthened the company’s product portfolio, brand recognition and helped it to maintain its position in the market. The company has a strong presence in Europe, North America, South America, Asia Pacific, and Africa. It also has subsidiaries in more than 28 countries.
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