Laboratory Evaporators Market: Trends and Opportunities for the Industry by 2017 - 2025
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Increasing research and development activities in pharmaceutical industries to introduce novel therapeutics requires laboratory evaporators for many procedures during drug development. Rising demand to attain the highest purity in drugs is one of the important factors driving the demand for laboratory evaporators. Rapid advancement and growth in the biotechnology sector which necessitates pure samples for experimental purposes and rising emphasis on better quality control coupled with the growing demand and importance to efficiently diagnose drugs are among the factors driving the laboratory evaporator market. Technological advancements has led key players to initiate the development of new and innovative products with enhanced features and more accurate results. This has further prompted other industry participants to reduce product prices, resulting in increased competition. The industry is also witnessing the emergence of new entrants with low-cost products, further increasing product competition.
The global laboratory evaporator market has been categorized based on evaporator type, product type, application, end user, and region. In terms of laboratory evaporator type, the market is segmented into nitrogen evaporators, vacuum evaporators, rotary evaporator and others. Rotary evaporators are further segmented into small rotary evaporator and large rotary evaporator. Rotary evaporator segment dominates the market owing to rising research & development activities across the pharmaceutical and chemical sector which is a major factor driving growth in this segment. By application type, the laboratory evaporator market can be segmented into distillation, drying, concentration, sublimation, reflux reaction, Soxhlet extraction, and Re-crystallization. In terms of end user, the market has been segmented into food and pharmaceutical industries, petroleum & chemicals, and others. The others segment includes research institutes and organizations, and laboratories. The pharmaceutical sector is expected to exhibit high growth opportunities over the coming years which is credited to the mounting focus by healthcare providers to minimize treatment cost by effectively diagnosing drugs and its constituents.
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Geographically, the global laboratory evaporator market is distributed over North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America was the largest market for laboratory evaporators owing to the presence of a large number of established key players conducting research and development activities in the region. Increase in research and development of drugs and therapeutics leads to high demand for laboratory equipment for analysis and purification which has increased the demand for laboratory evaporators in pharmaceutical industries and research laboratories. Asia Pacific is likely to witness the highest CAGR due to rising number of pharmaceutical companies in emerging markets and high funding from government organizations for research and development of low cost therapeutic products which indirectly boosts the demand for laboratory evaporators. Key players in the global laboratory evaporators market are BÜCHI Labortechnik AG, Dragon Laboratory Instruments, Thermo Fisher Scientific, Inc., IKA India Private Limited, Porvair Sciences Ltd, Stuart Equipment, LabTech, Inc., Auxilab, Gardner Denver Medical, Steroglass S.r.l., and others.
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