DUBLIN--(BUSINESS WIRE)--The "Solvent Evaporation Market by Evaporator Type (Rotary Evaporator, Nitrogen Blow Down Evaporator, Centrifugal Evaporator), End-User (Pharmaceutical & Biopharmaceutical, Diagnostic Laboratories, Research & Academic Institute), Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Global Solvent Evaporators Market Size is Expected to Reach USD 694 Million by 2024 From an Estimated USD 487 Million in 2019, at a CAGR of 7.3%
The growth of the biologics sector, increasing research & development expenditure, rising purity demands in end-use markets, and the growing development of large molecule biopharmaceuticals are the primary growth factors for this market.
The untapped markets in emerging regions and the increasing demand for laboratory automation are expected to offer significant growth opportunities for players in the solvent evaporators market. However, the sample loss due to solvent bumping and splashing, the dearth of skilled workforce, and lack of product differentiation is a major market challenge.
The nitrogen blowdown evaporators segment is expected to grow at the highest rate during the forecast period.
Based on the type, the solvent evaporators market is segmented into rotary evaporators, centrifugal evaporators, nitrogen blowdown evaporators, and spiral airflow evaporators. The nitrogen blowdown evaporators segment is projected to witness the highest growth in the solvent evaporators industry during the forecast period. Growth in this segment is driven mostly by the growing need for analyzing small sample volumes, operational benefits like fast and safer evaporation of volatile samples, and the rising demand for sample optimization with high process throughput.
The pharmaceutical and biopharmaceutical industry segment is expected to account for the largest market share in 2018.
Based on the end-user, the solvent evaporators market is segmented into the pharmaceutical & biopharmaceutical industry, diagnostic laboratories, and research & academic institutes. The pharmaceutical & biopharmaceutical industry segment accounted for the majority of the solvent evaporators market share in 2018. This can be attributed to the growing pressure on drug manufacturers to deliver high-quality products, rising demand to attain the highest purity in drugs, and growth in the biopharmaceuticals sector.
The Asia Pacific is expected to grow at the highest rate during the forecast period.
The Asia Pacific solvent evaporators market is expected to grow at the highest CAGR during the forecast period, primarily due to the growth in pharmaceutical & biopharmaceutical companies, increasing number of healthcare & life science facilities and rising requirements for regulatory compliance in pharmaceutical & biopharmaceutical companies are expected to drive the growth of the market during the forecast period.
Furthermore, the increasing focus on the Asia Pacific markets due to their low-cost manufacturing advantage also provides growth opportunities for manufacturers.
- Increasing R&D Expenditure
- Increasing Demand for Pure Samples in End-Use Markets
- Growing Development of Large-Molecule Biopharmaceuticals
- High Manufacturing and Product Costs
- Untapped Markets in Emerging Regions
- Increasing Demand for Laboratory Automation
- Sample Loss Due to Solvent Bumping and Splashing
- Dearth of A Skilled Workforce
- Lack of Product Differentiation
- Biochromato, Inc.
- Biotage AB
- Bchi Labortechnik Ag
- Heidolph Instruments GmbH & Co. KG
- IKA Works GmbH & Co. KG
- KNF Neuberger, Inc.
- Labconco Corporation
- Labtech S.R.L.
- Organomation Associates, Inc.
- Pope Scientific, Inc.
- Porvair PLC
- SP Industries, Inc. (Genevac)
- Steroglass Srl
- Yamato Scientific Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/5v56yj