(PharmaNewsWire.Com, August 19, 2020 ) According to the new market research report "Laboratory Mixer Market by product (Shaker (Orbital Shaker, Rocker, Roller), Magnetic Stirrer, Vortex Mixer, Overhead Stirrer, Accessories), by end user (Research Laboratory/Institutes, Pharmaceutical & Biotechnology Companies) - Global Forecast to 2023", published by MarketsandMarkets™, the market is expected to grow from USD 1.1 billion in 2018 to USD 1.4 billion by 2023, at a CAGR of 4.4% during the forecast period.
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Increasing R&D in the pharmaceutical and biotechnology sectors is the key factor driving market growth.
The shakers segment is expected to account for the largest share of the global Laboratory Mixer Market during 2018.
On the basis of product, the Laboratory Mixer Market is segmented into shakers, magnetic stirrers, vortex mixers, overhead stirrers, and accessories. The shakers segment is expected to grow at the highest CAGR in 2018. The increasing focus on life science research is one of the major factors driving the demand for laboratory shakers. Most life science laboratories often have more than one shaker, owing to its wide applications in the fields of chemistry, biochemistry, molecular biology, analytical chemistry, microbiology, clinical diagnostics, and cell culture.
Research laboratories and institutes are projected to account for the largest share of the market, by end user.
Based on end user, the Laboratory Mixer Market is segmented into research laboratories and institutes, pharmaceutical and biotechnology companies, and other end users. The research laboratories and institutes segment is expected to dominate the market in 2018. The availability of funding for life sciences research from government and non-profit organizations is expected to drive the demand and adoption of life science instruments and general laboratory equipment, including laboratory mixers and shakers, in research laboratories and institutes.
The Asia Pacific is projected to account for the highest growth in the Laboratory Mixer Market during the forecast period.
Asia Pacific is estimated to grow at a highest CAGR during the forecast period. The presence of emerging economies such as China and India and increasing R&D investments by pharmaceutical and biotechnology companies in this region are the major factors supporting the growth of the Asia Pacific Laboratory Mixer Market. China is expected to account for the largest share of the Asia Pacific Laboratory Mixer Market in 2018. China's large share and growth in the Asia Pacific market is attributed to the increasing prevalence of diseases & need for diagnosis and the growth of its geriatric population segment.
The major players in this market include Thermo Fisher Scientific (US), Eppendorf (Germany), Corning (US), Scientific Industries (US), Bio-Rad Laboratories (US), Cole-Parmer (US), Avantor Performance Materials (US), IKA Works (Germany), Benchmark Scientific (US), REMI Group (India), Sarstedt (Germany), and Silverson Machines (UK).
IKA Works is one of the major players operating in the laboratory mixer market. The company has a wide range of product offerings. In order to maintain its market position, the company mainly focuses on product launches and expansion. In 2017, the company launched its magnetic stirrer IKA Plate (RCT Digital) and a series of overhead stirrers, MICROSTAR and MINISTAR. In addition to this, in 2016, the company expanded its branches in the UK, Poland, and the US.
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