The Insight Partners Latest Research for Report “Solvent Evaporation Market Forecast to 2028″ Includes COVID-19 Impact and Global Analysis By Type (Rotary Evaporators, Nitrogen Blowdown Evaporators, Centrifugal Evaporators, and Spiral Air Flow Evaporators); End User (Pharmaceutical and Biopharmaceutical Industry, Diagnostic Laboratories, and Research and Academic Institutes) and Geography
“Solvent Evaporation Market was valued at US$ 470.77 million in 2020 and it is projected to reach US$ 821.41 million by 2028; it is expected to grow at a CAGR of 6.7% during 2021–2028. The report highlights trends prevailing in the market, and the factors driving and restraining the market growth.
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Increasing R&D expenditure, a growing development of large-molecule biopharmaceuticals, increasing demand for pure samples in end use markets fuels the market growth and various technological advancements. As the solvent evaporation technique is widely used in sample preparation across pharmaceutical industries thus with the increasing use of this technology coupled with growing development in the novel drug is propelling the market.
Inaccuracies in results and wastage of resources due to uneasiness associated with solvent evaporation hinders the growth of the solvent evaporation market.
Based on type, the global solvent evaporation market is segmented into rotary evaporators, nitrogen blowdown evaporators, centrifugal evaporators, and spiral air flow evaporators. The rotary evaporators segment held the largest share of the market in 2020. However, the nitrogen blowdown evaporators segment is estimated to register the highest CAGR of 7.4% in the market during the forecast period. The rotary evaporator plays a major role in efficient extraction of solvent through evaporation which is an important step in developing pure samples in several industries. The factors such as increasing R&D expenditures and several benefits associated with this technique are propelling the growth of the solvent evaporation market.
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Based on end user, the solvent evaporation market is segmented into pharmaceutical and biopharmaceutical industry, diagnostic laboratories, and research and academic institutes. The pharmaceutical and biopharmaceutical industry segment held the largest share of the market in 2020. However, the research & academic institutes segment is estimated to register the highest CAGR of 7.7% in the market during the forecast period. due to factors such as increasing drug development studies and rising demand for continuous innovation and enhancement of existing products.
Key Companies Outlook:
The growth of the solvent evaporation market is driven by key driving factors such as increasing expenditure on R&D, growing development of large-molecule biopharmaceuticals, and surging demand for pure samples in end-use markets.
However, inaccuracies in results and wastage of resources due to uneasiness associated with solvent evaporation hinder the market growth. Buchi Labortechnik AG; Biotage AB; Labconco Corporation; Heidolph Instruments GmbH & Co. Kg; Yamato Scientific Co., Ltd.; Porvair Plc; IKA Works GmbH and Co. KG; Steroglass SRL; Organomation Associates, Inc.; KNF Neuberger, Inc.; Raykol, Apricot Designs, Inc.; Labtech S.R.L.; Crescent Scientific; and Scinco Co., Ltd. are among the major companies operating in the market.
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