According to the Market Statsville Group (MSG), the global standard centrifuge tube market size is expected to grow from USD 1,055.89 million in 2022 to USD 1,844.14 million by 2033, growing at a CAGR of 5.2% from 2023 to 2033. Increasing research activities in the healthcare sector, such as pharmaceutical creation, molecular analysis, biology studies, and regular laboratory tests performed in clinics and research institutions, are important contributors to the total value growth of the centrifuge tube market. Additionally, considerable technical improvements to enhance efficiency and decrease costs are expected to drive the centrifuge tube market throughout the forecast period. Moreover, health professional unemployment coexists with considerable unmet health needs in several countries. As a result, a scarcity of trained operators, as well as reimbursement issues, will have a substantial impact on market growth.
A centrifuge tube is a cylinder-shaped calibrated glass or plastic container. These containers are put in centrifuge slots to examine and separate different materials. Centrifuge tubes are commonly used by lab personnel to evaluate solid-liquid or liquid materials. They are high-strength, precision-made containers that can securely carry a wide range of chemicals. Glass tubes can take most solvents, although they are more costly and prone to breakage. They are sterilized in an autoclave after being cleaned like other lab glassware but must be handled carefully since even the slightest scratches might cause failure during the great rigors of centrifuge spinning. Plastic centrifuge tubes, on the other hand, are less costly and may be just as effective and durable as glass. Plastic is often disposable since it is difficult to clean and sanitize.
The COVID-19 pandemic is offering immense opportunities for standard centrifuge tubes, following that social distancing is the merely existing solution developed so far, which is proficient in reducing exposure. In line with this, standard centrifuge tubes signify an integral importance for pharmaceutical industry to diagnose patients with advanced imaging technology. Thus, it leads to the substantial demand for standard centrifuge tubes during the pandemic, which has extensively impacted the market. The announcement of national lockdown and temporary closures of various industries impacted the worldwide demand and supply, which in turn, has considerably enhanced the growth of the market in 2020 and the trend is expected to continue in 2021. Ensured business continuity during COVID-19, by effectively allowing remote working and implementing healthier standards to ensure safety of employees at plants and other locations, which continued to remain operational. For such risks, healthcare industries have been focused in a secure, scalable, cloud-native architecture, which is Artificial Intelligence (AI)/Machine Learning (ML)-ready. With analytics deeply woven into the fabric of the business, the credit risk management framework has been created for the post-COVID era. Hence, standard centrifuge tubes is expected to play a vital role amidst the COVID-19 pandemic. Based on these trends, the companies may experience a significant upturn in their sales and revenue. Nevertheless, post-COVID-19, the demand for standard centrifuge tubes will further grow at an unprecedented rate, with gradual expansion in the market value during the forecast period.
The adoption of sedentary lifestyles and irregularity in routine healthcare check-ups in emerging and developed countries, resulting an increase in lifestyle related chronic diseases such as obesity, heart disease, cancer, and diabetes. For instance, according to the American Heart Association, the number of deaths occurred due to cardiovascular diseases was 17.6 million in 2016 and is projected to rise to over 23.6 million by 2030. Similarly, the below figure depicts the growth number of diabetes patients across the globe.
Furthermore, the prevalence of cardiovascular diseases has been rapidly growing across the globe that led to heart failure, angina pectoris, systolic hypertension, atherosclerosis, cerebral insufficiency, arrhythmia, and venous insufficiency. Such conditions drive the demand for standard centrifuge tube market. For instance: According to Heart Foundation, Coronary heart disease is the most common type of heart disease in United States accounting for around 1 in 7 deaths. The estimated yearly incidence of heart attack among the individuals of United States accounts for 720,000 new attacks and around 335,000 recurrent attacks which is one of the leading on the global scenario. Also, in every 60 seconds more than 1 individual in United States dies due to a heart disease related event making it a big concern for the government and administration of the country, thereby boosting the market growth.
Funding levels for all health-care services have been falling for some years. Many people have attacked the government and politicians; for example, in the United States, newspapers have published articles accusing hospitals, physicians, and other health-care professionals of "greed." In response, the US government has urged Medicare to keep payments in check in order to maintain the Medicare trust fund budget balanced. As a result, hospital and other healthcare provider payments have declined across the board in the health-care system. The market's expansion is being stifled by the government's lack of reimbursement policies.
Health professionals are critical to extending health-care coverage and achieving the right to the best possible health; their availability, accessibility, acceptance, and quality are all dependent on them. WHO projects that 18 million health workers will be required by 2030, primarily in low- and lower-middle-income countries. In terms of workforce education, employment, deployment, retention, and performance, countries at all stages of socioeconomic development have obstacles. Furthermore, issues in universal access to health professionals may be exacerbated by the public sector's failure to absorb the supply of health workers in some countries due to fiscal constraints. As a result, health professional unemployment coexists with considerable unmet health needs in several countries. As a result, a scarcity of trained operators, as well as reimbursement issues, will have a substantial impact on market growth.
The centrifuge is used to separate target components from diverse mixtures by density. Centrifuges can be found in practically every lab in the medical and biological sciences, and they are an essential part of regular lab activities. Clinical diagnostics, blood component separation, cell and cellular component isolation, parasite detection, and macromolecule purification are all applications for laboratory centrifuges. One of the most significant drawbacks of using centrifuges for separations is the lengthy trial and error process required to find the optimal centrifugation speed and time. This difficulty is exacerbated in many biological applications, where excessive centrifugation can damage cells or sample. The adoption of Smart Tube module to work with a commercial swinging bucket centrifuge.
Further the adoption of remote monitoring to protect the previous samples, will further augment the market growth in the upcoming years. In addition, standing models offer greater sample capacity and can achieve high speeds. Superspeed centrifuges can achieve a maximum g-force (relative centrifugal force, RCF) of over 70,000 x g, and ultracentrifuges often used for DNA or RNA fractionation, can achieve up to 1,000,000 x g. Hence, the significant adoption of technological advancements to improve efficient and lower costs will create a lucrative growth opportunity for the market over the forecast period.
The study categorizes the standard centrifuge tube market based on test type, and application area at the regional and global levels.
Based on the test type, the market is divided into hospitals, biotechnology industries, pharmaceutical industries, pathological laboratories, academic & research institutes, and others. The hospitals segment is expected to dominate the market share in 2022 in the global standard centrifuge tube market. The rising prevalence of diseases, combined with increased awareness about early diagnosis and treatment, rising demand for blood, the availability of novel and technologically advanced centrifuges for blood separation, and the growing number of hospitals, particularly in emerging markets, are some of the key factors driving the growth of the hospital standard centrifuge tube market.
Based on the regions, the global standard centrifuge tube market has been segmented across Europe, North America, the Middle East & Africa, Asia-Pacific, and South America. North America is projected to account for the highest market share in 2022. The rising frequency of illnesses, more knowledge about diagnosis and treatment, an increase in the number of hospitals, and current projects will all enhance the market in North America. Leading industry participants from across the world are keeping an eye on the United States, which is the leading country in the North American centrifuge tubes market. Because of its strong biotechnology and pharmaceutical sectors, the United States is anticipated to continue its dominance during the forecast period.
The standard centrifuge tube market is a significant competitor, and extremely cutthroat in the sector are using strategies including product launches, partnerships, acquisitions, agreements, and growth to enhance their market positions. Most sector businesses focus on increasing their operations worldwide and cultivating long-lasting partnerships.
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