(PharmaNewsWire.Com, October 26, 2021 ) In this report, the global market for solvent evaporators was arrived at after the assessment of major product segments and their shares. For this purpose, the share of major product segments was determined through various insights gathered during primary and secondary research. The research process involved the study of multiple factors affecting the industry to identify segmentation types, industry trends, key players, competitive landscape, key market dynamics, and key player strategies.
Growth in this market is driven majorly by 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.
According to the new market research report “Solvent Evaporation Market by Evaporator Type (Rotary Evaporator, Nitrogen Blow Down Evaporator, Centrifugal Evaporator), End-Use (Pharmaceutical & Biopharmaceutical, Diagnostic Laboratories, Research & Academic Institute), Region – Global Forecast to 2024″, published by MarketsandMarkets™, the global Solvent Evaporation Market size is expected to reach USD 694 million by 2024 from USD 487 million in 2019, growing at a CAGR of 7.3%.
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The major factors driving the growth of this market are the growth of the biologics sector, increasing research and development expenditure, rising purity demands in end-use markets, and the growing development of large molecule biopharmaceuticals.
By type, the rotary evaporators segment is expected to account for the largest share of the market
The rotary evaporators segment is estimated to account for the majority of the Solvent Evaporators Market share in 2018. The large share of this segment can be attributed to the increasing demand for efficient & pure samples, growing investments in research & development by research institutes, rising demand for industrial-scale automation in terms of digitization, and the growing need for advanced analytical tools during drug diagnosis & research studies.
In the solvent evaporator market, by the end-user, the research & academic institutes segment is expected to grow at the highest CAGR during the forecast period
The research & academic institutes segment is expected to grow at the highest CAGR during the forecast period. The growth in this segment can be attributed to factors such as the increasing drug development studies and the rising demand for continuous innovation and enhancement of existing products.
North America is expected to account for the largest share of the Solvent Evaporation Market
The North American market is estimated to account for the largest share in 2018. The large share of this segment can be attributed to the increase in life sciences R&D, rising focus on improving the safety and quality of healthcare, growing efforts to increase the output of the healthcare industry, growth in the biosimilars and generics market, rising demand for high-quality research tools for data reproducibility, and increasing focus on developing personalized therapeutics. The presence of a large number of global players in this region is another key factor contributing to the large share of this market segment.
The prominent players in the Solvent Evaporators Market include Yamato Scientific Co., Ltd. (Japan), BÜCHI Labortechnik AG (Switzerland), Biotage AB (Sweden), Heidolph Instruments GmbH & CO. KG (Germany), Labconco Corporation (US), Porvair plc (UK), IKA Works GmbH & Co. KG (Germany), Steroglass Srl (Italy), Organomation Associates, Inc. (US), KNF Neuberger, Inc. (US), BioChromato, Inc. (Japan), Radleys (UK), LabTech S.r.l. (Italy), Abel Industries Canada Ltd. (Canada), DOĐA Limited (Turkey), ANPEL Laboratory Technologies Inc. (China), Asahi Glassplant Inc. (Japan), EYELA (Japan), Pope Scientific, Inc. (US), and SP Industries, Inc. (UK).
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