The study involved four major activities to estimate the current market size for Laboratory Centrifuge Market. Exhaustive secondary research was done to collect information on market, peer market, and parent market.

The next step was to validate these findings, assumptions, and sizing with industry experts across value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation was used to estimate the market size of segments and subsegments.

The laboratory centrifuges market is expected to reach USD 1.2 billion by 2023 from USD 1.1 billion in 2018, at a CAGR of 2.8%.

Market growth is primarily driven by factors such as technological advancements, increasing research, and a high prevalence of target diseases. However, the market faces major challenges in the form of mechanical failure of equipment (caused due to improper maintenance of rotors) and the release of harmful chemicals in the centrifugation of certain substances. The low replacement value of centrifuges (due to their long lifespans) may hinder market growth.

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The laboratory centrifuges market has several big players. Key players in the market include Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Eppendorf AG (Germany), Sigma Laborzentrifugen GmbH (Germany), Andreas Hettich GmbH & Co. KG (Germany), Kubota Corporation (Japan), Koki Holdings Co., Ltd. (Japan) (previously Hitachi Koki Co., Ltd.), QIAGEN N.V. (Netherlands), NuAire (US), Sartorius (Germany), HERMLE Labortechnik GmbH (Germany), and Becton, Dickinson and Company (US).

These players have adopted various growth strategies, such as partnerships, agreements, and collaborations; and new product launches, to further expand their presence in the laboratory centrifuges market. Product launches have been the key growth strategies adopted players from 2016 to 2018, which helped them to innovate on their offerings and broaden their customer base. Some of the leading players who adopted this strategy include Thermo Fisher Scientific Inc. (US), Eppendorf AG (Germany), and Danaher Corporation (US).

Thermo Fisher Scientific Inc. is one of the leading players in laboratory centrifuges market. The company’s strong brand recognition and extensive product portfolio in the laboratory centrifuges market is its key strength. To maintain a leading position in the market, Thermo Fisher has adopted product launches as its key organic growth strategy. Thermo Fisher has a robust promotional strategy in place and participates in various trade exhibitions, seminars, and workshops to promote its products. It is also supported by a strong sales force in over 180 countries.

Eppendorf AG is one of the key players in the laboratory centrifuges market. The company’s leading position in the market can be attributed to its focus on product innovation. The company focuses on the development of its R&D capabilities, core competence, and on meeting customer and market demands. This has allowed Eppendorf to introduce innovative products in the market. In the last two years, the company launched Centrifuge 5425, 5910 R, and refrigerated centrifuge 5920 R.

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This strengthened the company’s product portfolio and helped it to maintain its position in the market. The company has a strong presence across Europe, the Americas, APAC, and Africa. In 2018, the company launched Centrifuge 5425, 5910 R. This strengthened the company’s product portfolio and helped it to maintain its position in the market.

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