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The global solvent evaporators market size is projected to grow at a CAGR of 7.3%

NEW YORK, Dec. 31, 2019 /PRNewswire/ --

The global solvent evaporators market size is projected to grow at a CAGR of 7.3%.
The global solvent evaporators market size is expected to reach USD 694 million by 2024 from an estimated USD 487 million in 2019, at a CAGR of 7.3%. 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 are the primary growth factors for this market.

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The untapped markets in emerging regions and the increasing demand for laboratory automation are expected to offer significant growth opportunities for players in the solvent evaporators market. However, the sample loss due to solvent bumping and splashing, the dearth of skilled workforce, and lack of product differentiation is a major market challenge.

The nitrogen blowdown evaporators segment is expected to grow at the highest rate during the forecast period.
Based on the type, the solvent evaporators market is segmented into rotary evaporators, centrifugal evaporators, nitrogen blowdown evaporators, and spiral airflow evaporators.The nitrogen blowdown evaporators segment is projected to witness the highest growth in the solvent evaporators industry during the forecast period.

Growth in this segment is driven mostly by the growing need for analyzing small sample volumes, operational benefits like fast and safer evaporation of volatile samples, and the rising demand for sample optimization with high process throughput.

The pharmaceutical and biopharmaceutical industry segment is expected to account for the largest market share in 2018.
Based on the end-user, the solvent evaporators market is segmented into the pharmaceutical & biopharmaceutical industry, diagnostic laboratories, and research & academic institutes.The pharmaceutical & biopharmaceutical industry segment accounted for the majority of the solvent evaporators market share in 2018.

This can be attributed to the growing pressure on drug manufacturers to deliver high-quality products, rising demand to attain the highest purity in drugs, and growth in the biopharmaceuticals sector.

Asia Pacific is expected to grow at the highest rate during the forecast period.
The Asia Pacific solvent evaporators market is expected to grow at the highest CAGR during the forecast period, primarily due to the growth in pharmaceutical & biopharmaceutical companies, increasing number of healthcare & life science facilities and rising requirements for regulatory compliance in pharmaceutical & biopharmaceutical companies are expected to drive the growth of the market during the forecast period. Furthermore, the increasing focus on the Asia Pacific markets due to their low-cost manufacturing advantage also provides growth opportunities for manufacturers.

A breakdown of the primary participants referred to for this report is provided below:
• By Company Type: Tier 1 (21%), Tier 2 (26%), and Tier 3 (53%)
• By Designation: C-level (32%), Director-level (26%), and Others (42%)
• By Region: North America (35%), Europe (30%), Asia Pacific (15%), Latin America (10%), and the Middle East & Africa (10%)

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), DO?A Limited (Turkey), ANPEL Laboratory Technologies Inc. (China), Asahi Glassplant Inc. (Japan), EYELA (Japan), Pope Scientific, Inc. (US), and SP Industries, Inc. (UK).

Research Coverage:
This report analyzes the market for various solvent evaporators and their adoption patterns.It aims at estimating the market size and future growth potential of the global solvent evaporators market and its type, end-user, and regional segments.

The report also includes an in-depth competitive analysis of the key players in this market, along with their company profiles, product offerings, and recent developments.

Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies for strengthening their market presence.

This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the product portfolios offered by the top players in the global solvent evaporators market
• Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the global solvent evaporators industry
• Market Development: Comprehensive information on the lucrative emerging regions
• Market Diversification: Exhaustive information about the new product, growing geographies, and recent developments in the global solvent evaporators market
• Competitive Assessment: In-depth assessment of market ranking, growth strategies, revenue analysis, and products of leading players in the global solvent evaporators industry

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