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Laboratory Mixer Market Report 2024 - Laboratory Mixer Market Size, Share, And Forecast
Laboratory Mixer Market
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According to The Business Research Company's, The laboratory mixer market size has grown strongly in recent years. It will grow from $1.69 billion in 2023 to $1.85 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to chemical industry expansion, food and beverage production, food safety regulations, biopharmaceutical production, clinical diagnostics.
The laboratory mixer market size is expected to see strong growth in the next few years. It will grow to $2.58 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to green chemistry initiatives, supply chain resilience, healthcare diagnostics expansion, global health initiatives, expansion of telemedicine. Major trends in the forecast period include sustainable mixing solutions, artificial intelligence (ai) and automation integration, advanced sensors and controls, point-of-care diagnostics, pharmaceutical innovation.
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Market Drivers and Trends:
The increase in prevalence of diseases is contributing to the laboratory mixer's market growth. The prevalence of diseases increases the laboratory diagnostic testing, research, and development activities. A laboratory mixer is a common tool that is required in all laboratories as it mixes, dissolves, and emulsifies material. For instance, in September 2023, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, there were 41 million fatalities, constituting 74% of the total deaths attributed to non-communicable diseases (NCDs) or chronic conditions worldwide each year. These fatalities encompassed 17.9 million deaths due to cardiovascular diseases, 9.3 million deaths related to cancer, 4.1 million deaths associated with chronic respiratory diseases, and 2.0 million deaths from diabetes. Therefore, the increasing prevalence of diseases is expected to propel the growth of the laboratory mixer market in the coming years.
Major companies operating in the laboratory mixers market are focused on introducing convertible mixing devices to gain a competitive edge in the market. A convertible laboratory mixing device is a versatile tool used for blending and homogenizing various substances in scientific and industrial settings, offering adaptability in mixing applications. For instance, in June 2022, IKA-Werke GmbH & Co, a Germany-based manufacturer of laboratory equipment, launched the first convertible mixing device called TWISTER. It serves both as a single-position and multi-position magnetic stirrer, offering versatile mixing capabilities. Its high-speed vacuum mixing and dust-repelling design provide efficient and standardized mixing solutions.
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Major Key Players of the Market:
Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., Eppendorf AG, Cole-Parmer Instrument Company LLC, Silverson Machines Inc., Avantor Inc., Corning Incorporated, IKA Works Inc., Remi Elektrotechnik Limited, Heidolph Instruments GmbH & Co. KG, Labstac Ltd., Sainty International Group Co. Ltd., Ratek Instruments Pty Ltd., Nickel-Electro Ltd., Admix Inc., VMI Mixing, Charles Ross & Son Company, Shakti Pharmatech Pvt. Ltd., Buhler Inc., GEA Group Aktiengesellschaft, SPX Flow Inc., Philadelphia Mixing Solutions Ltd., Sulzer Ltd., Chemineer Inc., Mixer Direct Inc., Hayward Gordon Group, Sharpe Mixers Inc., Komax Systems Inc., Mixer Systems Inc., Charles Ross and Son Company
Laboratory Mixer Market 2024 Key Insights:
• The laboratory mixer market size is expected to see strong growth in the next few years. It will grow to $2.58 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%.
• The Surge In Disease Prevalence Driving Laboratory Mixer Market Growth
• Increasing Focus On Introducing Convertible Mixing Device To Gain A Competitive Edge
• North America was the largest region in the laboratory mixer market in 2023
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