According to the new market research report "Solvent Evaporation Market by Evaporator Type (Rotary Evaporator, Nitrogen Blow Down Evaporator, Centrifugal Evaporator), End-User (Pharmaceutical & Biopharmaceutical, Diagnostic Laboratories, Research & Academic Institute), Region - Global Forecast to 2024", published by MarketsandMarkets™,This study involved the extensive use of both primary and secondary sources.
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.
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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.
The rotary evaporators segment is expected to account for the largest solvent evaporators market share in 2018 :
Rotary evaporators are expected to be the most significant revenue contributor to the global market 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.
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What Drives the Market?
- Increasing R&D Expenditure
- Increasing Demand for Pure Samples in End-Use Markets
- Growing Development of Large-Molecule Biopharmaceuticals
Geographical Growth Analysis:
The North American market accounted for the largest share of the solvent evaporators industry in 2018. This is attributed to the increase in life sciences R&D, rising focus on improving the safety & quality of healthcare, growing efforts to increase the output of the healthcare industry, growth in the biosimilars & 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.