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Laboratory Centrifuge Market: Soaring Investment in Pharmaceutical Industry May Open Pool of Growth Opportunities

The global laboratory centrifuge market is anticipated to expand at a CAGR of 2.5% from 2022 to 2032 and close at a valuation of US$ 2.1 billion, according to a recent Fact.MR analysis. Healthcare professionals are looking into cutting-edge treatment and diagnostic procedures as the nature and prevalence of numerous chronic and infectious diseases become more complex. For these purposes, the use of modern laboratory centrifuges is becoming crucial.
The Laboratory Centrifuge Market grew at a CAGR of 2.1% from 2015 to 2021, reaching a value of US$ 1.6 Billion. The industry is anticipated to generate US$ 1.65 billion by 2022.

Important conclusions from the market study

• The market for laboratory centrifuges will grow by 1.3 times from 2022 to 2032.

• Micro laboratory centrifuges will account for more than 3/5 of the market share and be a top-selling category.

• According to the application, hospital laboratory centrifuges will grow at a CAGR of 3.1%.

• The U.S. laboratory centrifuge market is expected to grow at a 2.3% CAGR.

• China is anticipated to be a sizable market in 2032, with a value of US$ 500 million.

• Germany will have the greatest CAGR, with a 4% growth rate.

Competitive Environment

The existence of numerous vendors, each attempting to provide clients with comprehensive consulting and integration services, is what distinguishes the global market for laboratory centrifuges. Businesses are also looking for specialized service providers who can supply them with solutions that are specifically tailored to their needs. Additionally, the suppliers are probably going to use product differentiation and upgrade to their advantage over other market competitors.

• PPD, Inc., a top provider of clinical research services to the pharmaceutical and biotech industries, was acquired by Thermo Fisher, a top global provider of science-related services. Thermo Fisher will be able to provide more services to the pharmaceutical and biotechnology industries as a result of this acquisition.

• Quest Diagnostics successfully acquired Mercy’s Outreach Laboratory Services division in June 2021. Through the agreement, more people in the Midwest will have access to cutting-edge, excellent, and reasonably priced laboratory services. Quest will have instant access to a larger network of medical specialists in Kansas, Arkansas, Missouri, and Oklahoma once the transaction is complete.

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