The major factors driving the growth of Solvent Evaporation 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.
Global solvent evaporators market size is expected to reach USD 694 million by 2024 from USD 487 million in 2019, growing at a CAGR of 7.3%.
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.
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By type, the rotary evaporators segment is expected to account for the largest share of the solvent evaporators 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 evaporators market, by the end-user, the research & academic institutes segment is expected to grow at the highest CAGR during the forecast period
North America is expected to account for the largest share of the solvent evaporators 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), DOÐA 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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