Market Size of Global Laboratory Centrifuge Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Laboratory Centrifuge Market Analysis
The laboratory centrifuge market is expected to register a CAGR of 5.0% over the forecast period.
The large patient pool of COVID-19, along with the possible shortage of laboratory centrifuges, has fuelled the growth of the laboratory centrifuges market. For instance, an article published by the NCBI in February 2022 reported that during the COVID-19 pandemic, the demand for centrifuges significantly increased to separate the components of saliva for coronavirus detection. However, in the current scenario, it is anticipated that the demand for laboratory centrifuges may stabilize compared to the beginning of the pandemic. Still, with the emergence of other SARS-CoV-2 strains, the demand for centrifuges may increase over the studied market period.
The factors driving the growth of the studied market are the high prevalence of diseases, increasing investment in R&D activity, and technological advancements. Centrifugation is mainly used in the diagnosis of certain infectious diseases like HIV. Centrifugation improves the detection of HIV-1 p24 antigen in plasma from children born to mothers infected with HIV-1. The rising cases of HIV reported globally are expected to increase the demand for centrifuges. For instance, in 2022, UNAIDS reported that globally, 38.4 million people were living with HIV in the year 2021 and 85% of these people get diagnosed themselves. Since the centrifuge is also employed in the separation of pathogens and parasites in biological fluids, so the high incidence of HIV may increase the demand for centrifuges for sample diagnosis and thus be expected to drive the growth of the studied market.
Moreover, the increasing investment in pharmaceutical and biotechnology R&D sectors is also contributing to the growth of the studied market. For instance, in May 2022, National Center for Health Statistics (NCHS) reported that globally USD 7,847 million were invested in biotechnology R&D in the year 2021 and is expected to reach USD 8,142 million by the end of 2022. The increase in R&D investment will lead to the development of new drugs, and the centrifuge machinery is suited for separating amino acids, benzoic acid, benzene, sulfur, calcium hypochloride, hexachlorocyclohexane, insulin, penicillin, starch, and various other intermediate products used in drug development. Thus, increasing investments in the biotechnology sector are leading to increasing R&D activity, which is increasing the demand for laboratory centrifuges, thereby driving the growth of the studied market.
In recent years, certain key players in the laboratory centrifuges market have launched centrifuges integrated with advanced rotors and other features. For instance, in April 2021, Eppendorf AG (Germany) launched its Multipurpose Centrifuge 5910 Ri, which offers advanced features to enhance and simplify centrifugation. This centrifuge is the successor to the popular Centrifuge 5910 R. It offers an innovative touchscreen interface, an optional connection to the new VisioNize Digital Lab Suite for remote monitoring, and the unique Universal rotor, which allows 50 mL conical tubes, plates, and 250 mL bottles without the need to change the rotor, rotor buckets, or adapters. Thus, the new centrifuge launches are incorporated with better technology, delivering better results and thereby driving the growth of the studied market.
While the market is expected to perform well, the high equipment cost and long equipment lifespans may slow down its development.
