Laboratory Centrifuges Market Will Reach USD 2,541.2 Million By 2030

NEW YORK - June 25, 2024 - PRLog -- The laboratory centrifuges market generated a value of USD 1,949.8 million in 2023, which will increase to USD 2,541.2 million, powering at a 4.0% compound annual growth rate, by 2030.

This can be because of the increasing prevalence of illness, technological improvements, rising R&D activities, and growing count of pharmaceutical, life science, and biopharmaceutical firms.

Other factors that boost the expansion of this industry are the increasing rate of technological improvements, rising acceptance of automated methods in hematology, the development of microcentrifuges, multi-purpose centrifuges, and ultracentrifuges, and the surging private and public healthcare funding.

The increasing rate of product introductions with regulatory consent is likely to further boost the growth of the industry in the coming years.

Mergers and acquisitions are the key trends being observed in this industry. Eppendorf AG reached an agreement with Koki Holdings Co. Ltd. in Tokyo, in March 2020, for Eppendorf to purchase Koki's centrifuge business.

Eppendorf AG, with the acquisition, focuses on increasing its line of advanced centrifuges for life academic, science, pharma, and commercial research applications.

Koki Holdings Co. Ltd., post being acquired, is concentrating on strategic funding in technology and product development.

Report Description: https://www.psmarketresearch.com/market-analysis/laborato...

Key Insights

North America accounted for the largest share of the industry in 2023, of 35% share, and it will further advance at a 4.5% compound annual growth rate during this decade.

This can be because of the increasing R&D funding by private firms in the pharmaceutical, life science, and biopharmaceutical sectors as well as government organizations.

APAC is advancing at the fastest rate, mainly because of the increasing expenses on research & development activities.

The equipment category was the major contributor to the industry in 2023, with a 70% share.

This is because of the various kinds of centrifuges offered by the players, including microcentrifuges, multipurpose centrifuges, mini centrifuges, and ultracentrifuges.

Tubes, in the accessories category, account for the largest share. The largest share is because of the extensive utilization of tubes in the centrifugation procedure to keep liquids.

As tubes are a repetitive purchase, their sales produce the greatest revenue for the players among all accessories.

The fixed-angle rotors category was the largest contributor to the industry in 2023. The dominance can be ascribed to the rising R&D activities and the advantages of fixed-angle rotors because they don't have moving parts like other types.