Next Generation Centrifuge Market 2022
The global Next Generation Centrifuge Market is estimated to grow at the rate of 6.1% in the upcoming period, reaching US$ 1,380 Mn by the year 2025. Integration with virtual reality solutions is expected to rule the roost in the forecast period. Augmented reality could be used for accessing information as well as reports while handling patients or without having to leave their existing operations, that too, in a completely hands-free mode, through voice command, or making supportive data appear automatically. This would be the healthcare vertical in future.
Growing advancements in medical and clinical field has spread awareness about requirement for better healthcare system. Governments across the globe are making amendments in research & development, and diagnostic activities, and taking initiatives for developing access to care. These factors are expected to drive growth of the global next generation centrifuge market. Global next generation centrifuge market is projected to register 6.1% CAGR during the forecast period 2017 to 2025, according to a report by Persistence Market Research (PMR). The market is estimated to reach nearly US$ 1,380 Mn in revenues by 2027-end.
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Company Profiles:
- Eppendorf
- Thermo Fisher Scientific Inc.
- Danaher Corporation (Beckman Coulter)
- Polypipe (Nuaire)
- Corning Inc.
- Hettich GmbH & Co.KG
- Qiagen
- Hitachi Koki Co., Ltd
- Others
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North America will Remain the Largest Market for Next Generation Centrifuge
PMR’s report projects North America to remain dominant in the global next generation centrifuge market, with revenues pegged to surpass US$ 500 Mn by 2025. Europe is estimated to be second-largest market for next generation centrifuge during the forecast period. This market growth in Europe is primarily attributed to factors such as growing number of life sciences companies, and soaring application of centrifuge for DNA extractions in forensic science. In addition, market in Asia Pacific (APAC) is expected to exhibit highest CAGR through 2025.
Refrigerated centrifuge will remain the most lucrative product in the global next generation centrifuge market. Revenues generated from sales of refrigerated centrifuge is poised to reach nearly US$ 1000 Mn by 2025-end. Among two types of refrigerated centrifuge viz. refrigerated benchtop and refrigerated floor standing, the former is projected to exhibit a comparatively higher CAGR through 2025.
Demand for Next Generation Centrifuge will Remain Highest from Academic and Research Organisations
Academic and research organisations will remain the highest end-users of next generation centrifuge. Demand for next generation centrifuge from these organisations is projected to expand at 7.6% CAGR through 2025. Biopharmaceutical companies are expected to be second-largest end-users of next generation centrifuge by 2025-end. In contrast, demand for next generation centrifuge from diagnostic centers will remain sluggish during the forecast period.
With soaring expansion of life sciences sector, several small- and medium-sized companies are focusing on increasing their presence in the market. These companies are adopting strategies such as new innovative product offerings coupled with more complex technologies, for differentiating their products from existing ones in the market. In addition, companies are focusing on introduction of systems with advanced features to cater increasing requirement of centrifuges. These factors are estimated to propel growth of the market.
Increasing R&D Activities in Pharmaceutical Industry driving Demand for Next Generation Centrifuges
Increasing research & development activities in pharmaceutical industry has driven the demand for next generation centrifuges in production and quality assurance (QA) processes. Moreover, utilisation of advanced techniques such as next generation sequencing is on the rise, for studying patterns of infectious diseases in cancer patients. This further propels the demand for next generation centrifuges in molecule extraction and diagnosis procedures.
However, high costs are involved in initial setup and installation of floor standing centrifuges, coupled with service and repair costs. Organisations face challenges owing to limited financial supports. In addition, utilisation of next generation centrifuges depends on the availability of robust medical platforms and facilities. The aforementioned factors are expected to restrain growth of the global next generation centrifuge market during the forecast period.
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Key Questions Answered in the Next Generation Centrifuge Market Report
How is the Next Generation Centrifuge Market expected to grow over the projected period?
What direction is the Next Generation Centrifuge Market expected to take in terms of volume and value during the forecast period?
What is the impact of macroeconomic factors on the Next Generation Centrifuge Market in future?
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What are significant opportunities and improvement areas for Next Generation Centrifuge Market manufacturers?
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Which are the emerging countries that are expected to create significant growth opportunities in the Next Generation Centrifuge Market?
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