Press release
Next Generation Centrifuge Market Sales to Top US$ 1.38 Bn by 2025-End|to register 6.1% CAGR
Next Generation Centrifuge Market 2022
Global Next Generation Centrifuge Market Pegged to Reach Nearly US$ 1,380 Mn by 2025-End.
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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 2025-end.
Company Profiles:
Eppendorf
Thermo Fisher Scientific Inc.
Danaher Corporation (Beckman Coulter)
Polypipe (Once)
Corning Inc.
Hettich GmbH & Co.KG
Qiagen
Hitachi Koki Co., Ltd.
Others
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.
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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 Organizations
Academic and research organizations will remain the highest end-users of next generation centrifuge. Demand for next generation centrifuge from these organizations 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, utilization 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. Organizations face challenges owing to limited financial supports. In addition, utilization 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.
Key geographies evaluated in this report are:
North America - U.S, Canada
Europe - France, Germany, Italy, Spain, and the UK, Eastern Europe, CIS
APAC - China, India, Japan, Australia, Others
Latin America - Argentina, Brazil, Others
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Key Questions Answered in This Report.
What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?
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