Leading Players in the Global Laboratory Centrifuge Market - Different Growth Strategies Adopted by Them


Posted April 21, 2021 by mmvaidya

The study involved four major activities to estimate the current market size for laboratory centrifuge market. Exhaustive secondary research was done to collect information on market, peer market, and parent market.
 
Global Key Players:

The Laboratory Centrifuge Procedure Market has several big players. Key players in the market include Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Eppendorf AG (Germany), Sigma Laborzentrifugen GmbH (Germany), Andreas Hettich GmbH & Co. KG (Germany), Kubota Corporation (Japan), Koki Holdings Co., Ltd. (Japan) (previously Hitachi Koki Co., Ltd.), QIAGEN N.V. (Netherlands), NuAire (US), Sartorius (Germany), HERMLE Labortechnik GmbH (Germany), and Becton, Dickinson and Company (US).

Different Growth Strategies Adopted by Them:

These players have adopted various growth strategies, such as partnerships, agreements, and collaborations; and new product launches, to further expand their presence in the laboratory centrifuges market. Product launches have been the key growth strategies adopted players from 2016 to 2018, which helped them to innovate on their offerings and broaden their customer base. Some of the leading players who adopted this strategy include Thermo Fisher Scientific Inc. (US), Eppendorf AG (Germany), and Danaher Corporation (US).

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Expected Revenue Growth:

The laboratory centrifuge market is expected to reach USD 1.2 billion by 2023 from USD 1.1 billion in 2018, at a CAGR of 2.8%.

Major Industry Growth Influencing Factors:

Market growth is primarily driven by factors such as technological advancements, increasing research, and a high prevalence of target diseases. However, the market faces major challenges in the form of mechanical failure of equipment (caused due to improper maintenance of rotors) and the release of harmful chemicals in the centrifugation of certain substances. The low replacement value of centrifuges (due to their long lifespans) may hinder market growth.

Thermo Fisher Scientific Inc. is one of the leading players in laboratory centrifuge market. 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, Thermo Fisher has adopted product launches as its key organic growth strategy. Thermo Fisher has a robust promotional strategy in place and participates in various trade exhibitions, seminars, and workshops to promote its products. It is also supported by a strong sales force in over 180 countries.

Eppendorf AG is one of the key players in the Laboratory Centrifuge Procedure Market. 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 Centrifuge 5425, 5910 R, and refrigerated centrifuge 5920 R. This strengthened the company’s product portfolio and helped it to maintain its position in the market. The company has a strong presence across Europe, the Americas, APAC, and Africa. In 2018, the company launched Centrifuge 5425, 5910 R. This strengthened the company’s product portfolio and helped it to maintain its position in the market.

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Geographical Growth Scenario:

Asia to grow at the highest CAGR during the forecast period

The laboratory centrifuge market has been segmented into four major regions, namely, North America, Europe, Asia, and the Rest of the World (RoW). Currently, North America dominates the global laboratory centrifuges market, and this trend is expected to continue during the forecast period. However, the market in Asia is estimated to grow at the highest CAGR during the forecast period. The presence of emerging economies such as China and India and the increasing R&D investments by pharmaceutical and biotechnology companies in this region are the major factors supporting the growth of the Asian laboratory centrifuges market.

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Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags laboratory centrifuge procedure , laboratory centrifuge procedure market
Last Updated April 21, 2021