Laboratory Centrifuge Market Value to Reach US$ 1,833.29 Million by the End of 2025: Transparency Market Research
ALBANY, New York, December 7, 2017 /PRNewswire/ --
Transparency Market Research observes that the players in the global laboratory centrifuge market are focusing on product launches with innovative differentiation. The competitive landscape is quite fragmented due to strong presence of several players. Companies are also expected to focus on clinical trials, research and development, joint ventures, and acquisitions to remain ahead of the competition. Some of the leading players in the global laboratory centrifuge market are Sartorius AG, Thermo Fisher Scientific Inc., Eppendorf Group, Andreas Hettich GmbH & Co.KG, and QIAGEN N.V.
According to the research report, the global laboratory centrifuge market was valued at US$ 1,400.00 mn in 2016 and is expected to be worth US$ 1,833.29 mn by the end of 2025. During the forecast period of 2017 and 2025, the global market is estimated to surge at a steady CAGR of 3.1%. In terms of capacity, the microcentrifuges segment is estimated to lead the global market due to their extensive usage in various diagnostic procedures. Geographically, North America dominated the global laboratory centrifuge market in 2016.
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Rise of Diagnostic Centers Ups Usage of Laboratory Centrifuges
Centrifuge is the laboratory equipment used to separate particles from a sample solution based on their shape, size, density, viscosity of the medium and rotational speed. Laboratory centrifuge are characterized by the rotational speed, sample handling capacity, and temperature control. Laboratory centrifuges are widely used for isolation, separation, and characterization broad range of biological and non-biological components such as nucleic acids, proteins, enzymes, antibodies, microbes, viruses and other cellular organelles form sample solutions. Laboratory centrifuges have broad applications of in the fields of molecular biology, blood banks, biopharmaceutical industry for new molecule development, in healthcare facilities for diagnosis of infectious disease and chronic disease, and in clinical and preclinical laboratories for research purpose. Thus, the growing number of applications of laboratory centrifuges is expected to fuel market growth in the near future.
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The global laboratory centrifuge market is projected to be driven by rapid growth of life science industry worldwide and rising demand from healthcare facilities. The expansion and consolidation of diagnostic laboratories in the developed regions such as North America and Europe is likely to fuel the demand for laboratory centrifuge during the forecast period. Recent advancement in the rotor design, rotor material, and rotor exchange technology makes the centrifuge operation simpler and safe. Also, enhanced safety features in centrifuges to prevent the mechanical damages would contribute to the markets growth. The demand for automated laboratory centrifuge is therefore projected to be greatly driven by the clinical and diagnostic laboratories where large number of samples are processed within short duration of time. Moreover the increased applications of genomics and proteomics in the fields of drug discovery, targeted therapy, in the prenatal diagnosis and treatment of genetic disease etc. factors are likely to propel the demand or laboratory centrifuge during the forecast period.
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Lack of Funding for Laboratory Upgrades to be a Restraint
Also, increasing investment by the leading international hospitals and diagnostic lab service providers would fuel the region's growth. The high prevalence of infectious diseases, and other chronic diseases led to increase in number of biological sample processing in highly populated countries like in India and China. These factors are likely to drive the demand for laboratory centrifuge in near future.
On the other hand, the global laboratory centrifuge market also faces some tough challenges. Presently, the market is being stymied by the slow pace of upgrades in diagnostic labs of developing economies. Lack of financial support, poor technical knowledge, and insufficiency of skilled labor have prevented laboratory upgrades in emerging economies. Furthermore, negligible presence of laboratories in the rural parts of the world are also likely to challenge the global market.
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About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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