Laboratory Centrifuges Market - Emerging Trends & Global Future Forecasts

Posted April 14, 2022 by mmvaidya

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.

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.

COVID -19 Impact On The Laboratory Centrifuges Market:

The large pool of COVID-19 patients, coupled with the possible shortage of laboratory centrifuges, has driven the growth of the laboratory centrifuges market. However, after a few years since the COVID-19 pandemic, when the vaccination of a large population and diagnosis would be achieved, the demand for centrifuges won’t be as high. It would gradually decline to its previous growth rate or demand as during the pre-COVID-19 era.

The sales and revenue of businesses dealing with laboratory centrifuges experience growth in 2020 due to the COVID-19 pandemic. In the figure below, the impact of COVID-19 can be seen on the revenues of various businesses.

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Market Size Estimation:

Both top-down and bottom-up approaches were used to estimate and validate the total size of the laboratory centrifuges market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

# The key players in the industry and markets have been identified through extensive secondary research.
# The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
# All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Expected Revenue Growth:

The laboratory centrifuges market 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.

Data Triangulation:

After arriving at the overall market size—using the market size estimation processes—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and sub-segment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the laboratory centrifuges industry.

DRIVERS: Rising technological advancements and innovative rotor designs

Innovation in laboratory centrifuges focuses on enhancing convenience, speed, compactness, safety, efficiency, and accuracy. Rotors used in centrifuges were earlier made of tensile steel and then replaced with aluminum and titanium alloys. Carbon fiber rotors, in addition, are much lighter than their counterparts—these rotors weigh 8 kg, as opposed to earlier 21-kg aluminum rotors. Carbon fiber increases the flexibility of the rotor and makes them resistant to chemical corrosion and structural fatigue. For instance, the FIBERLite Fixed-Angle Rotor by Beckman Coulter (acquired by Danaher) and Thermo Scientific Fiberlite rotors are made of carbon fiber.

RESTRAINTS: High equipment costs

Centrifuges are expensive instruments and require significant expenditure post-purchase for regular—and crucial—maintenance. The high cost of these instruments can be attributed to their complex design, rotors, and microprocessors. In this market, ultracentrifuges are among the most expensive equipment. Their rotors alone can cost upwards of USD 5,000 to 7,000, and benchtop rotors and floor standing rotors can cost around USD 30,000 to 55,000.

OPPORTUNITY: Integration of automation and advanced features in laboratory centrifuges

The integration of automation and robotics into laboratory centrifuges is expected to create more opportunities in the future. There is a considerable amount of research for the development of autonomous/robotic centrifuges. Some companies offer advanced centrifuges that can serve during hostile and challenging pandemic situations or handling hazardous biological samples. These centrifuges can be essential equipment into a biological or life sciences lab for research purposes and clinical labs for mass scale processing of the biohazardous sample for a massive scale diagnosis.

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CHALLENGES: Exposure to hazardous aerosols and lab-acquired infections

The centrifugation of hazardous samples may result in exposure to chemical, biological, or radioactive agents. This can adversely affect the health of personnel or operators, increase the risk of injury and cross-infection among staff, and cause damage to the equipment. It is important to ensure that the samples used for centrifugation are balanced properly. An unbalanced sample may cause tubes to break or spill out during centrifugation and release harmful aerosols into the environment.

According to the University of Tennessee (2017), approximately 80% of cases in which lab personnel contracted a disease were attributed to the production of harmful aerosols in laboratories. This factor may emerge as a major challenge for the laboratory centrifuges market in the coming years.
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Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags laboratory centrifuges , laboratory centrifuges market
Last Updated April 14, 2022