Centrifuge Market: Introduction
According to the report, the global centrifuge market was valued at ~US$ 1 Bn in 2019 and is projected to expand at a considerable CAGR during the forecast period. Centrifuge can be defined as a machine employing a rotating container, which applies centrifugal forces on the contents, aiding in the separation of fluids of differing densities. It works on the principle of sedimentation, wherein the centrifugal force aids in outward movement of denser substances and particles in radial direction. The global centrifuge market is driven by growth of the life sciences industry, increase in the number of clinical & diagnostic laboratories, rise in the number of infectious diseases, and surge in the demand for blood component separation.
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North America dominated the global centrifuge market in 2018 and the trend is anticipated to continue during the forecast period. Early adoption of new technologies, large base of pharmaceutical and biotechnological companies, and well-established healthcare infrastructure are factors anticipated to drive the market in the region.
Rise in Demand for Blood Components
Hemophilia is the most common bleeding disorder. According to the Centers for Disease Control and Prevention, hemophilia A affects 1 in 5,000 male births and each year about 400 babies are born with hemophilia A in the U.S. Hence, rise in prevalence of bleeding disorders and increase in number of surgeries drive demand for blood and blood components. This is likely to propel the global centrifuge market. Moreover, surge in concerns regarding blood safety is anticipated to drive the global market.
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Equipment Segment Dominated Global Market
In terms of product, the equipment segment is likely to account for major share of the global centrifuge market during the forecast period. Growth of the segment can be attributed to rise in applications of multipurpose centrifuges and microcentrifuges. Technological advances focused on enhancing convenience, compactness, safety, and accuracy contribute to the growth of the segment. However, long lifespan of these instruments, which last for over 15 years, reduces the need of replacement.
General Purpose Centrifuges to Lead Global Market
In terms of intended use, the general purpose centrifuges segment is projected to account for major share of the global centrifuge market during the forecast period. Growth of the segment can be attributed to various applications of these centrifuges in cellular research and significant growth in the diagnosis rate of blood related diseases.
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Centrifuge Market: Prominent Regions
The global centrifuge market has been segmented into four major regions: North America, Europe, Asia Pacific, and Rest of World. North America dominated the global centrifuge market in 2018. The U.S. was the major market for centrifuges in the region in 2018. Well established healthcare infrastructure and presence of key players with strong focus on research & development are the key factors anticipated to boost the growth of the market in the U.S. Moreover, availability of clinical and diagnostic laboratories with integrated technologies is expected fuel the growth of the market in North America.
The centrifuge market in Asia Pacific is projected to expand at a high CAGR from 2020 to 2030 driven by developing countries such as China and India. Rise in focus of market players on strengthening presence in emerging economies in order to leverage growth opportunities propels the market in Asia Pacific. Additionally, rise in prevalence of chronic and infectious diseases leading to increase in the number of tests being conducted, surge in demand for access to quality health care, increase in per capita healthcare expenditure, and rise in awareness about preventive health care contribute to the growth of the centrifuge market in the region.
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Product Launches and Strategic Acquisitions by Key Players to Propel Global Market
The global centrifuge market is fragmented in terms of number of players. Key players operating in the global centrifuge market are Thermo Fisher Scientific, Inc., Danaher Corporation, Becton, Dickinson and Company (BD), Sartorius AG, Eppendorf AG, QIAGEN, KUBOTA Corporation, NuAire, Sigma Laborzentrifugen GmbH, and Andreas Hettich GmbH & Co. KG, among others.
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