Veterinary Centrifuges Market Size, Share, Growth, and Industry Analysis, By Type (Low Speed Centrifuge, High-Speed Centrifuge and Others), By Application (Veterinary Hospitals, Veterinary Clinics, Veterinary Diagnostic Centers and Others) Regional Forecast to 2032

Updated On: 22 April 2024

Veterinary Centrifuges Market REPORT OVERVIEW

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The global Veterinary Centrifuges market size was USD 175.9 million in 2022 and market is projected to touch USD 308.23 million by 2032, exhibiting a CAGR of 5.8% during the forecast period.

 The global COVID-19 pandemic has been unprecedented and staggering, with the veterinary centrifuges market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Veterinary centrifuges are specialised laboratory instruments used in veterinary medicine to separate various components of blood, urine, and other biological materials. They operate on the centrifugation principle, which involves spinning samples at high speeds to separate heavier particles from lighter elements. A multi-purpose centrifuge (MPC) is an equipment used in veterinary laboratories for a variety of purposes. MPC can run at fast speeds and with great power, making it an excellent device for separating particles of varying sizes. Cell Separation is the most important application of a multi-purpose centrifuge, which uses its Cell Lysis and concentration features. This procedure is critical in a variety of diagnostic and research applications in veterinary medicine. The market for Veterinary Centrifuges is a subset of the larger medical equipment and laboratory supplies business.

COVID-19 Impact: Imposed Restrictions in the Economy Resulted in Decline in the Market

During the COVID-19 pandemic in 2020, the worldwide market faced substantial slowing due to a temporary halt in most industrial activity, particularly those related to building, manufacturing, industrial solutions, and other industries/sectors. However, the start of large-scale vaccination efforts in 2021 reduced the lockdown and travel restrictions, allowing manufacturing operations to resume. These factors are expected to enhance the market throughout the forecast period.

LATEST TRENDS

"Technological Developments, Ongoing Research, Development to Soar Up Market Potentially"

The growing number of pet owners around the world has increased demand for veterinarian services and related equipment. The demand for modern veterinary care equipment, particularly centrifuges, is expected to rise as economies in various regions grow. Technological improvements have resulted in the creation of more advanced veterinary centrifuges with enhanced features and capabilities, driving market expansion. Veterinary medicine research and development also contribute to the demand for high-quality laboratory equipment, such as centrifuges.

Veterinary Centrifuges Market SEGMENTATION

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• By Type

Based on type the veterinary centrifuges market is classified as low speed centrifuge, high-speed centrifuge and others.

• By Application

Based on application the veterinary centrifuges market is classified as veterinary hospitals, veterinary clinics, veterinary diagnostic centers and others.

DRIVING FACTORS

"The Rising Awareness and Increased Focus on Animal Health to Reinforce the Market Growth"

As people's commitment to their pets grows and veterinary treatment becomes more advanced, so does the demand for accurate and efficient diagnostic technologies like as centrifuges. Rising pet owner awareness of animal health and hygiene is expected to drive the growth of the Veterinary Centrifuge market during the time frame being forecast. Pet owners are becoming more aware of the significance of regular check-ups and diagnostic testing for their animals, which increases demand for dependable diagnostic equipment.

"Growing Animal Population and Increasing Veterinary Hospitals and Clinics to Witness Tremendous Market Growth"

In terms of revenue, the veterinary hospital segment dominated the global market. It is ascribed to a variety of variables, including rising pet ownership rates and increased consumer knowledge of preventative healthcare. Furthermore, as the animal population has grown, so has the need for diagnostics, which has boosted the demand for GVCs in hospitals. The clinics and diagnostic centres segment is expected to grow rapidly during the forecast period, owing to veterinarians' increasing emphasis on preventative medicine and advancements in equipment used during blood tests at these facilities, which will drive demand for centrifuges.

RESTRAINING FACTORS

"Sample Size, Volume, Contamination and Temperature to Obstruct the Market Growth"

Veterinary Centrifuges Market REGIONAL INSIGHTS

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"North American Region to Dominate with Improved Veterinary Healthcare Facilities and Willingness to Spend on Pets Health "

In terms of revenue share, North America led the global veterinary centrifuges market share. The increasing number of pet owners and their willingness to spend money on their pet's health can be related to the growth. Furthermore, the increased prevalence of chronic diseases in animals is likely to fuel demand for veterinary healthcare services, resulting in product adoption over the forecast period. The region is expected to grow profitably over the projected period as a result of factors such as the expanding economy and the high incidence rate of zoonotic diseases among companion animals, which are driving demand for diagnostic testing services. Rising animal health awareness, as well as government initiatives focused at enhancing veterinary healthcare facilities, are some other variables that are projected to contribute to regional market development throughout the estimated time range.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

The market is highly competitive, with both international and domestic players. Major players are involved in the launch of new and improved products, collaborations, mergers and acquisitions, joint ventures, and other tactics. The research is an in-depth examination of a list of market participants who promote market growth. The data is a compilation of the most recent manufacturing industry trends, mergers and acquisitions, market research, and technology breakthroughs. To comprehend market share, product growth, revenue growth, and other variables over the forecast period, additional criteria such as regional and segmental analysis are considered.

List of Market Players Profiled

• Beckman Coulter (U.S.A)
• Centurion Scientific (U.K)
• Eppendorf AG (Germany)
• Sigma Laborzentrifugen (Germany)
• Hettich Instruments (Germany)
• Hawksley & Sons (U.K)
• Haier Biomedical (China)
• Hanil Scientific (South Korea)
• Xiangyilxj (China)
• KUBOTA (Japan)
• Woodley Equipment (U.S.A)
• OHAUS (U.S.A).

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.