Laboratory Centrifuges Market Assessment, By Product [Multipurpose Centrifuges, Microcentrifuges, Ultracentrifuges, Minicentrifuges, Others], By Model Type [Benchtop Centrifuges, Floor-Standing Centrifuges], By Rotor Design [Fixed-Angle Rotors, Swinging-B

Laboratory Centrifuges Market Assessment, By Product [Multipurpose Centrifuges, Microcentrifuges, Ultracentrifuges, Minicentrifuges, Others], By Model Type [Benchtop Centrifuges, Floor-Standing Centrifuges], By Rotor Design [Fixed-Angle Rotors, Swinging-Bucket Rotors, Vertical Rotors, Others], By Intended Use [General Purpose Centrifuges, Clinical Centrifuges, Preclinical Centrifuges], By Application [Diagnostics, Microbiology, Genomics, Proteomics, Blood Component Separation, Others], By End-user [Hospitals, Biotechnology and Pharmaceutical Companies, Academic and Research Institutions], By Region, Opportunities and Forecast, 2017-2031F

Global laboratory centrifuges market is projected to witness a CAGR of 3.73% during the forecast period 2024-2031, growing from USD 1.72 billion in 2023 to USD 2.31 billion in 2031. Growth in the global laboratory centrifuges market is driven by factors such as the rising prevalence of chronic and infectious diseases, technological advancements in the biotechnological industry, increased healthcare expenditure, government initiatives, policies, and programs.

Increasing number of pharmaceuticals and biotechnological companies, growing investments from private and public sector, presence of several established players and development strategies such as mergers and acquisitions, collaborations, and product launches amongst existing market players are accelerating the demand for laboratory centrifuges globally.

Furthermore, the global laboratory centrifuges market is undergoing robust growth due to a significant rise in the prevalence of infectious and chronic diseases at the global level. Increasing aging population leads to vulnerability towards several health conditions, due to which, the world is affected by high prevalence of chronic and infectious diseases such as diabetes, cancer, cardiovascular diseases and others. Laboratory centrifuges play a crucial role in the field of clinical diagnosis. It is a highly efficient tool in detecting the presence of disease-causing agents. Other factors such as improvement in healthcare facilities by adoption of latest advanced laboratories with advanced tools and equipment, growing application of laboratory centrifuges in cell culture, clinical diagnosis, sample preparation, DNA/RNA extraction are the factors which are further accelerating the growth in global laboratory centrifuges market.

Technological advancements are happening rapidly to develop highly efficient, portable, and compact laboratory centrifuges such as benchtop centrifuges. Biomedical and biotechnological advancements, along with the tremendous growth of the life science industry, are driving the demand for laboratory centrifuges for various applications such as DNA sequencing, proteomics, and cell culture.

Government initiatives such as grants and funds for the development of the biotechnological industry in emerging markets are encouraging regular screening. Moreover, the wide range of applications of laboratory centrifuges and their crucial role in the life science industry is attracting many public and private companies to join and invest in innovations, new launches, research, and development of more efficient and effective centrifuges development, due to which the market is expected to show tremendous growth.

Rise in Global Burden of Diseases

There has been a surge in demand for laboratory centrifuges due to the rising number of chronic and infectious diseases worldwide. Health diagnostics is one of the most useful applications of laboratory centrifuges in the healthcare industry. Centrifuges helps diagnose disease by separating different elements of blood samples, such as red blood cells and oxygen content, to diagnose conditions like anemia, white blood cells for detecting infections, and plasma for common biomarkers such as urea and creatine, which indicate kidney health.

As the number of people affected by several diseases increases, application and demand of laboratory centrifuges is growing. According to the World Health Organization (WHO), an estimated 1.13 million HIV-negative people died from tuberculosis (TB) in 2022. As per the World Heart Federation, more than half a billion people are affected by cardiovascular diseases, which accounted for 20.5 million deaths in 2021. Heart diseases are the leading cause of death, followed by cancer, stroke, respiratory diseases, Alzheimer's, and diabetes.

Life Sciences Industry Growing at a Massive Scale

Laboratory centrifuges play a crucial role in the life science industry by facilitating various processes essential for research and diagnosis. Their main functions include sample separation, cell culture, clinical diagnosis, drug discovery, virus purification, and quality control. The life science industry has experienced significant growth in recent years due to various factors such as technological advancements and increased government funds to enhance research and development in genomics, proteomics, and high-throughput screening. Increased demand for pharmaceutical and biotechnological products and medical devices has further contributed to the life sciences industry's growth and development.

According to an announcement by the Council of State Bioscience Association in June 2023, there has been a rapid demand for tools used in the life science industry in recent years. Innovation in the biotechnology sector, growth in research laboratories, increasing investments by public and private organizations, and funding from the government to accelerate research in all the life sciences sub-sectors are escalating growth in the industry. As the life science industry is growing, the demand for tools and appliances used in the industry such as laboratory centrifuges is increasing, and hence, the global laboratory centrifuges market is expected to show tremendous growth in the forecast period.

Microcentrifuges Dominate the Market

Among the product segments, microcentrifuges hold the maximum market share in the global laboratory centrifuges market. Growing research and development activities and investments by key market players in the segment are leading to massive demand for laboratory centrifuges. Moreover, these are useful for DNA/RNA extraction, protein purification, and sample preparation in molecular biology and biochemistry. Due to this, many key market players include microcentrifuges in their product portfolio.

In April 2023, Eppendorf SE announced the launch of “Centrifuge 5427 R”, which is Eppendorf’s first microcentrifuge with hydrocarbon cooling. The product uses a natural cooling agent with a low global warming potential (GWP) that makes it a sustainable product and has large rotor selection, along with high sample throughput, which enables the user to perform various molecular and cell biology applications. Technological advancement in microcentrifuges and supportive regulatory system is enabling the manufacturers of laboratory centrifuges to invest and bring innovative products, driving the global laboratory centrifuges market.

Increasing Demand for Benchtop Centrifuges

Among the model type category, benchtop centrifuges hold a significant market share in global laboratory centrifuges. Benchtop centrifuges are compact, tabletop-sized centrifuges used in laboratories for small to medium-scale sample processing. Due to their compact design, these are suitable for laboratories with limited space. These are used in various applications such as sample preparation, cell culture, clinical diagnosis, and other routine laboratory tasks, which makes them more popular among manufacturers. Moreover, key market players are bringing new product launches into the segment by developing advanced benchtop centrifuges.

In February 2022, Beckman Coulter Life Sciences, a global organization working on manufacturing medical products, launched its most versatile 3-liter benchtop centrifuge known as “the Allegra V-15R refrigerated centrifuge”. The newest product, which supports many workflows and applications like cell and blood separation with high-throughput screening, comprises 10 rotor configurations, 50 programmable runs, and a comprehensive array of adapters.

Asia-Pacific is Expected to be the Fastest Growing Region

The rapidly increasing population and growing prevalence of chronic and infectious diseases in the region are expected to accelerate the demand for highly efficient laboratory centrifuges in the healthcare sector to improve clinical diagnosis and enhance clinical decision-making. Asia-Pacific is an emerging market with huge potential for laboratory centrifuge application in all sectors, due to which key market players are establishing manufacturing and operational facilities in the region to expand their business and overall market growth.

Biotechnology Industry Research Assistance Council (BIRAC) launched a scheme known as the Biotechnology Ignition Grant Scheme (BIG), under which successful innovators will receive up to USD 70,000 for research projects related to biomedical devices such as centrifuges, biotechnological products, biosimilars, stem cells, and other biotechnological products development. These initiatives draw major investments from foreign companies into countries like Taiwan, China, Malaysia, and India, which have developed medical device industries, advanced manufacturing facilities, and a large pool of suppliers ready to provide high-quality goods at competitive prices to customers globally.

Future Market Scenario (2024 – 2031F)

The increasing prevalence of chronic and infectious diseases worldwide has increased the demand for laboratory centrifuges in the clinical diagnostics field. The growing life science industry and increased demand for advanced laboratory centrifuges for a wide range of applications in the biotechnological sector will further accelerate the growth of the market.

Increasing healthcare budgets of governments, increasing investments by government bodies in research and development, technological advancements, and the development of compact and sustainable products are driving the demand for laboratory centrifuges globally. Moreover, collaborative ventures involving manufacturers of medical devices and biotechnological companies have spurred innovation and growth in the global laboratory centrifuges market.

Key Players Landscape and Outlook

In the global laboratory centrifuges market, public and private organizations from various domains of the life sciences industry are establishing strategic partnerships and distribution agreements, which play a pivotal role in propelling the global laboratory centrifuges market's expansion. These alliances empower firms to gain from each other's strengths, benefit from access to new markets and technologies, and pool resources for research and development endeavors. Distribution agreements enable companies to broaden their market presence at a global level. These collaborative initiatives promote innovation, expedite product development, and improve disease treatment. In January 2023, Hettich Group, a global leader specializing in centrifuges and incubators for clinical-medical applications, announced that it completed the acquisition of Philipp Kirsch GmbH. The acquisition aimed to improve and expand the company’s existing centrifuges product portfolio.