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 sub segments.
-:Primary Research:-
Primary research was conducted to identify segmentation types; industry trends; key players; and key market dynamics such as drivers, restraints, opportunities, challenges, industry trends, and strategies adopted by key players. In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. Primary sources are mainly industry experts from the core and related industries and preferred suppliers, manufacturers, distributors, technology developers, researchers, and organizations related to all segments of this industry’s value chain.
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In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts, to obtain and verify the critical qualitative and quantitative information as well as assess future prospects.
-:Secondary Research:-
Secondary research was mainly used to obtain key information about the industry’s supply chain; the market’s monetary chain; the total pool of key players; market classification and segmentation according to industry trends to the bottom-most level; geographical markets; and key developments from both market- and technology-oriented perspectives. In the secondary research process, various secondary sources were referred to identify and collect information for this study. Secondary sources include annual reports, press releases, and investor presentations of companies, white papers, journals, certified publications, articles from recognized authors, gold-standard and silver-standard websites, disease-specific organizations, directories, and databases.
North America is expected to account for the largest market size during the forecast period
The laboratory centrifuge 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.
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Key players in the laboratory centrifuge market are 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).
Thermo Fisher Scientific is one of the leading players in the laboratory centrifuges market. The company’s strong brand recognition and extensive product portfolio in the laboratory centrifuge 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. For instance, in the past three years, the company has launched large capacity centrifuges, the Sorvall BP 8 and 16 blood banking centrifuges, and the mySPIN centrifuges (mini centrifuges). These developments allow the company to expand its end-user base.
