NEW YORK, March 22, 2021 /PRNewswire/ -- Laboratory centrifuge sales are set to expand at nearly 2.5% over 2021-2031, owing to high demand from pharmaceutical industry. Surging demand from biotechnological sector is expected to push sales for laboratory centrifuge. Manufacturer's steady recovery in research institutes & hospitals are set to drive growth in 2021 and beyond.
The latest edition of Laboratory centrifuge market by Fact.MR finds that following the outbreak of COVID-19, manufacturers have found a steady momentum owing to the increasing adoption of advanced technologies in medical and research centers. Increased investment, innovation in product quality coupled with government initiatives to strengthen further growth.
Application of multipurpose centrifuges in biotechnological sector is creating wide opportunities for manufacturers. According to the United States Department of Agriculture, 2021, to ensure that United States remains the world leader in crop production, the research institutes are investing heavily in the R&D for the sector regarding the efficiency and new uptake on multipurpose centrifuges. Manufacturers are using genetic engineering and advanced technology to support the adoption of centrifuges in modern biotechnology.
"Advanced technology used in pharmaceutical and biotechnology industry are prompting the laboratory centrifuge manufacturers to increase sales, while increased government initiatives to boost R&D activities is expected to accelerate the sales over coming years," says a Fact.MR analyst.
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Key Takeaways
- Multipurpose centrifuges remain highly lucrative
- Exponentially rising adoption in healthcare and biotechnology sector to boost the demand in Japan
- China to vanguard Asia Pacific market, owing to well established pharmaceutical and healthcare industry
- Germany to lead the European market, attributed to manufacturers increasing R&D activities in biotechnological sector
- US to remain the most lucrative market for North America
- High cost raw material and time consuming manufacturing process continue to hamper the sales
- Application in biotechnological industry spurring the sales
Competitive Landscape
Key players profiled by Fact.MR include Thermo Fisher Scientific Inc., Becton, Dickinson & Company, Kubota Corporation, Danaher Corporation, Andreas Hettich GmbH & Co. KG, QIAGEN, HERMLE Labortechnik GmbH, and Koki Holdings Co. Ltd. among others. Product innovation and strong focus on R&D remains a key strategy of manufacturers.
In March 2021, Thermo Fisher announced more than US$600 million in capital investment to expand its bioprocessing production capabilities through 2022. These investments are expected to double the company's current manufacturing capacity and support biopharma customers as they combine to meet the demand related to COVID-19, as well as the long term demand from the biotechnological customers.
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More Valuable Insights on Laboratory Centrifuge Market
In its latest report, Fact.MR sheds an in-depth analysis on the global laboratory centrifuge market. In order to gain a better perspective on the global market potential, its growth and opportunities, the market is segmented on the basis of product type (multi-purpose centrifuge, micro-centrifuges, ultra-centrifuges, and others), application (bio-technology & pharmaceutical companies, academic & research institutes, hospitals, diagnostics, and others), and region (North America, Latin America, Europe, East Asia, South Asia, East Asia & Oceania, and MEA)
Key Questions Covered in the Report
- How will demand for laboratory centrifuge will evolve in future?
- Which are the largest markets for laboratory centrifuges?
- Which application is lucrative in laboratory centrifuge market?
- Which are the factors that will drive the demand for Laboratory centrifuge?
- Which are the prominent players leading laboratory centrifuge market?
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