Versatile Microcentrifuge Market Size, Share, Growth, and Industry Analysis by Type (Desktop Microcentrifuge and Floor-standing Microcentrifuge) By Application (Chemistry Analysis, Cellular and Molecular Biology, Clinical Labs, and Others), Regional Forecast To 2031

Updated On: 15 April 2024

Versatile Microcentrifuge Market REPORT OVERVIEW

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The global versatile microcentrifuge market size expanded rapidly in 2022 and the market is projected to grow substantially by 2031, exhibiting a prodigious CAGR during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the versatile microcentrifuge market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is expected to generate substantial revenue by 2028, a robust CAGR during the forecast period. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

A centrifuge is a tool for separating mixtures made up of components of various densities. Centrifuges are mostly employed in laboratories to prepare samples for analysis in the medical industry. For instance, blood and plasma are separated using a centrifuge. They have a rotor that holds the samples that need to be prepared.

On the market, there are numerous varieties of centrifuges. Every type has a connection to one or more particular applications. Therefore, it is crucial to consider this when picking a centrifuge. Typically, microcentrifuges are employed for small sample volumes, like capillary tubes. They are mostly employed in blood tests. They rotate at a rate that is higher than 10,000 rpm. These centrifuges are made in a small size.

COVID-19 Impact: Halt on Manufacturing Operations to Slower Market Growth

The versatile microcentrifuge market has expanded due to the enormous COVID-19 patient pool and the potential shortage of these machines. However, after a few years since the COVID-19 pandemic, when widespread immunization and diagnosis have been accomplished, the need for centrifuges is anticipated to resume growing at a regular rate. It has progressively slowed down to its prior growth or demand level. Due to the COVID-19 pandemic, businesses that deal with versatile microcentrifuge will see an increase in sales and revenue in 2030.

LATEST TRENDS

"Technological Developments in Benchtop Centrifuges to Boost Market Growth"

The largest versatile microcentrifuge market segment is being driven by technological developments in benchtop centrifuges, which include features like safety interlock systems, temperature control systems, high performance, and high capacity. These characteristics are also helping to increase acceptance. A benchtop 24-place centrifuge 5425 R from Eppendorf AG, which offers protection to temperature-sensitive samples and offers an immediate cooldown of temperature in 8 minutes (21° C to 4° C), is one of the novel launches from key players that are further driving the versatile microcentrifuge market growth. These centrifuges have six rotors.

Versatile Microcentrifuge Market Segmentation

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• By Type Analysis

As per the type, the market is classified as follows: Desktop Microcentrifuge and Floor-standing Microcentrifuge. The desktop microcentrifuge segment leads the versatile microcentrifuge market share.

• By Application Analysis

Based on application, the market is segmented as follows: Chemistry Analysis, Cellular and Molecular Biology, Clinical Labs, and Others. The clinical labs are anticipated to dominate the versatile microcentrifuge market share.

DRIVING FACTORS

"Application of Microcentrifuge in Laboratory to Facilitate Market Development"

The rising prevalence of infectious diseases, which results in a higher volume of sample testing and cell-based research in laboratory centrifuges, as well as the expanding applications of laboratory centrifuges, are the main factors driving the versatile microcentrifuge market growth. Rising technological advancements and inventive rotor designs are also contributing to the versatile microcentrifuge market's expansion. Additionally, during the forecast period, growing economies and the integration of automation and advanced features in versatile microcentrifuge are expected to present opportunities for the versatile microcentrifuge market to expand.

"Rise in Costs Incurred by Both Government and Private Organizations to Promote Industry Progress"

The portion of the money allocated to the creation of more advanced and effective technologies has been rising. Additionally, when it comes to spending on these costs, pharmaceutical and biotechnology businesses come in first. For instance, pharma and biotech firms invested $190.9 billion in 2018, which ultimately enabled them to generate $ 1251 billion in net revenue. the rise in costs incurred by both government and private organizations to combat the aging population. By 2030, one in five Americans will be above the age of 65, according to US CDC specialists. Additionally, the geriatric population is more susceptible to diseases than the general population. The above-mentioned factors will have a positive influence on versatile microcentrifuge market expansion.

RESTRAINING FACTORS

"High Cost of Centrifugal Devices to Hinder Market Growth"

The University of Minnesota estimates that the discharge of hazardous aerosols is responsible for the transmission of 80% of infectious diseases that are contagious in nature. Aerosols are released as a result of excessive centripetal acceleration and ineffective tubes, and the lab worker catches such germs while working. It's interesting to note that Sar-Cov-19 has also been characterized as a "lab leak" accident. Businesses allocate a larger amount of their expenditures to maintaining the facility's general safety. Last but not least, centrifugal devices can cost upwards of $6000 on average, and more facilities and development translate into higher prices. These factors might impede the versatile microcentrifuge market growth.

Versatile Microcentrifuge Market REGIONAL INSIGHTS

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"Increase in Demand to Propel Market Progress in North America"

In addition to leading regional versatile microcentrifuge market growth, North America also contributes significantly to global sales. The regional versatile microcentrifuge market is expanding as a result of the rising prevalence of diseases, increased knowledge of diagnosis and treatment, an increase in the number of hospitals, and the efforts of various versatile microcentrifuge market participants to introduce new centrifuge-related products. For instance, Mercy's Outreach Laboratory Services company was fully acquired by Quest Diagnostics in June 2021. Through the agreement, more people in the Midwest will have access to cutting-edge, high-quality, and reasonably priced laboratory services.

KEY MARKET PLAYERS

"Market Players Focus on New Product Launches to Strengthen Market Position"

Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and the launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.   

List of Market Players Profiled

• Thomas Scientific (U.S.)
• Benchmark Scientic (U.S.)
• Cardinal Health (U.S.)
• EKF Diagnostics (U.K)
• Biosan (India)
• HERMLE Labortechnik (Germany)
• Southwest Science (U.S.)
• Applied Biological Materials (Canada)
• FOUR E's Scientific (U.S.)
• Biologix (U.S.)
• Ward's Science (U.S.)
• DLAB Scientific (China)
• Cole-Parmer (U.S.)
• SCILOGEX (U.S.)
• KEWLAB (Australia)
• Carolina (U.S.)
• RWD Life Science (U.S.)
• Eppendorf (Germany)
• Corning Life Science (U.S.)
• Hettich (Germany)
• SMTmax (U.S.)
• Lu Xiangyi Centrifuge Instrument (China)
• Globe Scientific (U.S.)
• VWR (U.S.)

REPORT COVERAGE

The report covers overall market aspects, including market segmentation based on its type and application. The report depicts a diverse group of participants, including the market and potential market leaders. Major factors that are expected to drive major growth in the market. The factors anticipated to expand the market share are also included in the report to offer market insights. The estimated growth of the market in the forecast period is also included in the report. The regional analysis is completed to explain the region's dominance in the global market. The factors hindering the growth of the market are discussed in detail. The SWOT analysis of the market is depicted in the report. It contains all-inclusive market details.