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%

NEW YORK, Nov. 13, 2018 /PRNewswire/ -- Increasing R&D activity and technological advancements are expected to drive the overall growth of laboratory centrifuges market.

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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.

The accessories segment is expected to grow at the highest CAGR during the forecast period.
On the basis of product type, the laboratory centrifuges market is segmented into equipment and accessories. The accessories segment is estimated to grow at the highest CAGR during the forecast period owing to the requirement of the repeated purchase of accessories such as tubes, bottles, and buckets.

The diagnostics segment is expected to hold the largest market share during the forecast period.
Based on application, the laboratory centrifuges market is segmented into diagnostics, microbiology, cellomics, genomics, proteomics, blood component separation, and other applications.In 2018, the diagnostics segment is expected to account for the largest share of the laboratory centrifuges market.

The rising prevalence of various diseases and the focus on ensuring early disease diagnosis are the major factors driving the growth of the laboratory centrifuges market for this application segment.

Asia to grow at the highest CAGR during the forecast period.
The laboratory centrifuges market has been segmented into four major regions, namely, North America, Europe, Asia, and the Rest of the World (RoW).Currently, North America dominates the laboratory centrifuges market, and this trend is expected to continue during the forecast period.

However, the market in Asia is estimated to grow at the highest CAGR during the forecast period. The presence of emerging economies such as China and India and the increasing R&D investments by pharmaceutical and biotechnology companies in this region are the major factors supporting the growth of the Asian laboratory centrifuges market.

The primary interviews conducted for this report can be categorized as follows:
? By Company Type: Tier 1?36%, Tier 2?46%, Tier 3-18%
? By Designation: C-level?30%, D-level?42%, Others?28%.
? By Region: North America?39%, Europe?29%, Asia?20%, RoW?12%

List of Companies Profiled in the Report
? 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)
? Becton, Dickinson and Company (US)

Research Coverage:
The report provides a picture of the laboratory centrifuges market.It aims at estimating the market size and future growth potential of this market across different segments such as product type, model type, rotor design, intended use, application, end user, and region.

Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.

Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall laboratory centrifuges market and its subsegments.This report will help stakeholders to better understand the competitor landscape and gain more insights to better position their businesses and make suitable go-to-market strategies.

The report also helps the stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.

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