Next Generation Centrifuge Market Size, Share, Growth, and Industry Analysis, By Type (Refrigerated Centrifuge and Ambient Centrifuge), By Application (Hospitals, Diagnostic Centers, Academic and Research Organizations, Biopharmaceuticals Companies and Contract Research Organizations), Regional Insights, and Forecast To 2032

Updated On: 08 April 2024

REPORT OVERVIEW

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The global next generation centrifuge market size was USD 812 million in 2022. As per our research, the market is projected to touch USD 1088.1 million by 2028, exhibiting a CAGR of 5.0% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. On the one hand, the increased demand for diagnostic testing and research into the virus has led to increased demand for centrifuges.

The next generation centrifuge market is growing. This growth is being driven by the increasing demand for diagnostic testing and research into COVID-19, the growing adoption of next generation centrifuges in clinical and research laboratories, the rising popularity of point-of-care testing, and the increasing investments in healthcare infrastructure. Next generation centrifuges offer several advantages over traditional centrifuges, including higher speed, improved accuracy, enhanced sample handling capabilities, ease of use, and increased safety.

COVID-19 Impact: Imposed Restrictions in the Economy which led to a decline in demand for the Market

The COVID-19 pandemic had a mixed impact on the next generation centrifuge market. On the one hand, the increased demand for diagnostic testing and research into the virus has led to an increased demand for centrifuges. On the other hand, the pandemic has also disrupted supply chains and caused financial hardship for some businesses, which has slowed down the market.

Overall, the market is expected to grow at a CAGR of 5% from 2022 to 2028. The increasing demand for diagnostic testing and research into COVID-19 is the main driver of the market growth. However, the high cost of next generation centrifuges and the limited availability of skilled technicians to operate these devices could hinder the market growth.

LATEST TRENDS

"Higher Standards of Performance by Increase in Infrastructure Spending to Grow Market Potentially"

The next generation centrifuge market growth is driven by several trends, including the increasing adoption of automation, the use of advanced materials, the development of new applications, the increasing demand for point-of-care testing, and the focus on safety. Automated centrifuges can save time and labor, which is especially important in busy laboratories. Centrifuges made with advanced materials, such as carbon fiber and titanium, are more durable and lightweight, making them more portable and easier to use. Next generation centrifuges are being developed for new applications, such as cell culture and drug discovery. This is expanding the market for these devices. Point-of-care testing is becoming increasingly popular, and next generation centrifuges are well-suited for this application. This is driving the growth of the market.

SEGMENTATION

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• By Type

Based on type, the market is classified as refrigerated centrifuge and ambient centrifuge.

• By Application                                          

Based on application, the market is classified as hospitals, diagnostic centers, academic and research organizations, biopharmaceuticals companies and contract research organizations.

DRIVING FACTORS

"Increasing demand for diagnostic testing and research which leads to the market growth"

The increasing demand for diagnostic testing and research is a major driver of the next generation centrifuge market share. Centrifuges are used in a variety of diagnostic and research applications, such as blood typing, cell culture, and drug discovery. The increasing demand for these applications is driving the demand for centrifuges.

"Rising popularity of point-of-care testing for market growth"

Point-of-care testing is becoming increasingly popular, and next generation centrifuges are well-suited for this application. Point-of-care testing is the testing of medical samples at or near the point of care, such as in a doctor's office or a hospital. This type of testing requires small, portable centrifuges that can be easily operated by non-technical personnel.

RESTRAINING FACTOR

"Several Challenges Associated with the Local Irritation to Restrain the Market Growth"

The next generation centrifuge market is restrained by the high cost, limited availability of skilled technicians, stringent regulatory requirements, competition from traditional centrifuges, and technological barriers. The high cost of next generation centrifuges can be a barrier to adoption for some users. This is because next generation centrifuges often use more advanced materials and manufacturing processes, which can drive up the cost.

The limited availability of skilled technicians can also be a restraining factor. This is because next generation centrifuges can be more complex to operate than traditional centrifuges. This requires skilled technicians, which can be in short supply in some areas. Stringent regulatory requirements can also make it difficult and time-consuming to bring new centrifuges to market. This is because centrifuges are regulated by a variety of government agencies.

REGIONAL INSIGHTS

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"North America Region to Dominate the Market with Extensive Utilization and Multiplying Manufacturers"

North America is the largest market for next generation centrifuges, accounting for a share of 35% in 2022. This is due to the high demand for diagnostic testing and research in the region. The US is the largest market in North America, followed by Canada and Mexico.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

The next generation centrifuge market is a fragmented market with a large number of small and medium-sized players. However, there are also a few large players that are investing heavily in research and development to develop new and innovative centrifuges. These players include Eppendorf, Thermo Fisher Scientific, Danaher (Beckman Coulter), Polypipe (Nuaire), Corning, Hettich GmbH, Qiagen, and Hitachi Koki. These players are developing new centrifuges that offer advantages over traditional centrifuges, such as higher speed, improved accuracy, and enhanced sample handling capabilities. They are also expanding their product portfolios to meet the growing demand for centrifuges in different applications.

List of Market Players Profiled

• Eppendorf (Germany)
• Thermo Fisher Scientific (U.S)
• Danaher (Beckman Coulter) (U.S)
• Polypipe (Nuaire) (U.K)
• Corning (U.S)
• Hettich GmbH (Germany)
• Qiagen (Netherland)
• Hitachi Koki (Japan)

REPORT COVERAGE

The SWOT analysis and information on future developments are covered in the study. The research report includes a study of a number of factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points. The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. Additionally, the research disseminates data on national and regional assessments that take into account the dominant forces of supply and demand that are influencing market growth. The competitive environment, including market shares of significant competitors, is detailed in the report along with fresh research methodology and player strategies for the anticipated time.