The next generation centrifuge market in 2022 is expected to be a rapidly growing industry, as advancements in technology allow for the development of more efficient and effective centrifuges. These next generation centrifuges are likely to be smaller, faster, and more accurate than current models, and will be used in a wide range of industries, including healthcare, biotechnology, and pharmaceuticals. The market is expected to be driven by the increasing demand for high-quality, reliable separation technology.
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Growing advancements in medical and clinical field has spread awareness about requirement for better healthcare system. Governments across the globe are making amendments in research & development, and diagnostic activities, and taking initiatives for developing access to care. These factors are expected to drive growth of the global next generation centrifuge market. Global next generation centrifuge market is projected to register 6.1% CAGR during the forecast period 2017 to 2025, according to a report by Persistence Market Research (PMR). The market is estimated to reach nearly US$ 1,380 Mn in revenues by 2025-end.
North America will Remain the Largest Market for Next Generation Centrifuge
PMR’s report projects North America to remain dominant in the global next generation centrifuge market, with revenues pegged to surpass US$ 500 Mn by 2025. Europe is estimated to be second-largest market for next generation centrifuge during the forecast period. This market growth in Europe is primarily attributed to factors such as growing number of life sciences companies, and soaring application of centrifuge for DNA extractions in forensic science. In addition, market in Asia Pacific (APAC) is expected to exhibit highest CAGR through 2025.
Refrigerated centrifuge will remain the most lucrative product in the global next generation centrifuge market. Revenues generated from sales of refrigerated centrifuge is poised to reach nearly US$ 1000 Mn by 2025-end. Among two types of refrigerated centrifuge viz. refrigerated benchtop and refrigerated floor standing, the former is projected to exhibit a comparatively higher CAGR through 2025.
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Increasing R&D Activities in Pharmaceutical Industry driving Demand for Next Generation Centrifuges
Increasing research & development activities in pharmaceutical industry has driven the demand for next generation centrifuges in production and quality assurance (QA) processes. Moreover, utilisation of advanced techniques such as next generation sequencing is on the rise, for studying patterns of infectious diseases in cancer patients. This further propels the demand for next generation centrifuges in molecule extraction and diagnosis procedures.
The requirement for drug innovation is important for both the improvement of healthcare and for organizational growth. The increasing patent cliff and rising microbial resistance to drugs creates an opportunity for research in the industry, thereby creating a demand for the use of advanced centrifuges in R&D.
Key market players identified in PMR’s report include Eppendorf, Thermo Fisher Scientific Inc., Danaher Corporation (Beckman Coulter), NuAire Inc., Corning Inc., Hettich GmbH & Co.KG, Qiagen, Hitachi Koki Co., Ltd.
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Acquisitions of Small & Medium Players – Imperative Strategy for Market Players
Given the consolidation in the market, bigger players are focusing on the acquisition of small and medium market players. This trend is being observed across North America and Europe. This is dominated by players with a strong regional distribution presence in terms of direct sales force and medical ventilator product manufacturing.
What else is in the report?
Persistence Market Research offers actionable insights and unique perspective on the Next Generation Centrifuge market in its latest study, presenting historical demand assessment of 2016 – 2019 and projections for 2021–2031, based on product (Electromagnetic Navigation Bronchoscopy (ENB), IP Diagnostic Devices, IP therapeutic devices), indication (Asthma, Lung Cancer, COPD, Foreign Body Extraction, Tracheal and Bronchial Stenosis), and end user (Hospitals, Pulmonology Clinics, Ambulatory Surgical Centers, Diagnostic Centers), across seven key regions of the world.
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