Lab Centrifuges
Market, Supplier, Risk and
Competitive Intelligence

Industry Outlook & Drivers

Lab Centrifuges Global Market Outlook:

Market Growth: Global Lab Centrifuges Market: $1.16 Billion CAGR: 3 percent

Market Drivers:
• High prevalence of pandemic diseases
• Increased demand from other parent markets apart from R&D and clinical trial
• Demand by organizations for vaccine and testing kit development

Porter's Analysis on Lab Centrifuges

Supplier Power

• Market towards the automation techniques among the key players observed specializing their power in innovating trends in the research processes
• Key manufacturers: they reduce their dependency by improvising greater technological advancements in the field of the new devices flourishing the market growth

Barriers to New Entrants

• Long durability of this product acts as a restraint for its continual growth in the market
• Minimal product differentiation
• High brand quality at a reasonable price
• Government policies can limit or prevent entry of new developments in the market
• The start-ups would find difficult to enter the market, due to frequent change in regulations and policy

Intensity of Rivalry

• Competitors have an equal market share in this core
• If brand loyalty is insignificant and consumer switching costs are low, then this will intensify industry rivalry
• Rivalry power can be limited to some extent by innovating sustainable differentiation, implementing new products/services

Threat of Substitutes

• Threat of a substitute product or service is high if it offers a value proposition that is uniquely different from the present offerings
• Based on application, proteomics drive the demand for ultracentrifuges
• Combination of analytical ultracentrifugation is one of the most powerful techniques used for proteomics, offering threat to the substitutes in the market

Buyer Power

• High cost of the device acts as a restraint for the market growth, hence, buyers expect to buy the best offerings in the market by paying the minimum price possible
• Changing consumer mindset, due to different options in the market