The rising demand for technologically upgraded industrial evaporators and increasing research activities are the vital market growth parameters
The global solvent evaporation market size is expected to reach USD 926.8 million by 2028 at a CAGR of 7.5%, according to a new report by Reports and Data. The global solvent evaporation market has gained immense traction in recent years, owing to the growing demand for highly-advanced industrial evaporators, rising focus on new drug development, higher government investments in the pharmaceutical industry, and increasing collaborations among pharmaceutical companies and academic & research institutions. The other vital factors responsible for the growth of the global solvent evaporation market are the surging number of clinical and research laboratories, the growing emphasis on laboratory automation, soaring demand for large-molecule biopharmaceutical ingredients, and the escalating need for pure and safe pharmaceutical drug samples.
Solvent evaporators are high-performance industrial evaporation systems that efficiently remove impure solvents or materials from drug samples and facilitate the drug development process. Besides the pharmaceutical and biopharmaceutical sectors, solvent evaporation systems find extensive use in chemical, petroleum, food & beverage industries for sample analysis and purification. Solvent evaporators are also used for microencapsulation and the preparation of polymeric nanoparticles for pharmaceutical formulations. Over recent years, technological advancements have taken place in solvent evaporation systems to enhance the evaporation process and improve solvent recovery, leading to a lower environmental impact with purer samples. Hence, the global solvent evaporation market growth is further bolstered by the rapidly surging demand for solvent evaporation systems in numerous end-use industries and the greater efficiency of this evaporation technique compared to other methods, such as spray drying and distillation.
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The pharma and healthcare industry is rapidly expanding in terms of revenue over the last few years and is expected to register significant revenue growth over the forecast period of 2028. Rapid advancements in the healthcare sector, rapid growth in the medical and healthcare sectors, availability of latest equipment and tools, rising healthcare expenditure and improvements in healthcare infrastructures are some key factors driving global market revenue growth. In addition to this, increasing investments in research and development activities, rising prevalence of various diseases and dearth of medications and hospitals during the ongoing COVID-19 pandemic are boosting market growth. Increasing number of funds by public and private sectors, rising adoption of point-of-care diagnosis and home settings, high demand for precision medicine and ongoing research on drug discovery are also expected to fuel market growth going ahead.
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The report sheds light on the competitive landscape of the global Solvent Evaporation market and details about each market player, global position, financial standing, license agreement, and product and service portfolio along with business expansion plan. Major players are investing in research and development activities to develop and launch new products and services and are also focusing on adopting key strategies such as mergers and acquisitions, partnerships, joint ventures and collaborations to strengthen their market position and enhance their product base.
Leading companies operating in the global Solvent Evaporation market include:
Heidolph Instruments GmbH & CO. KG, Yamato Scientific Co., Ltd., SP Industries, Inc., BÜCHI Labortechnik AG, Biotage AB, LabTech S.r.l., DOÐA Limited, Porvair plc, Labconco Corporation, Abel Industries Canada Ltd., Steroglass Srl, Asahi Glassplant Inc., Organomation Associates, Inc., EYELA, BioChromato, Inc., IKA Works GmbH & Co. KG, Radleys, KNF Neuberger, Inc., ANPEL Laboratory Technologies Inc., and Pope Scientific, Inc. are the most prominent companies involved in the global solvent evaporation market.
Some Key Highlights in the Report:
- The rotary evaporators segment is expected to emerge as the leading segment over the projected period, with the fastest CAGR. The escalating demand for pure pharmaceutical samples, increasing usage of rotary evaporators in the pharmaceutical and chemical industries, rising emphasis on acquiring laboratory automation solutions, and augmented investments in R&D activities are the pivotal factors propelling the growth of this segment.
- The academic & research institutes are the largest end-user segment, accounting for the highest revenue share. Considerable government funding for academic and research institutions, extensive use of advanced tools for life sciences R&D activities, growing focus on developing more effective therapeutic drugs, and rising research collaborations between pharmaceutical companies and research institutes are predicted to fuel this segment’s growth.
- The North American region is forecast to register the highest revenue growth rate over the estimated period, mainly owing to the region’s expanding pharmaceutical industry, growing demand for enhanced drug quality, a surge in R&D activities in the life sciences industry, and the increasing adoption of advanced manufacturing equipment for biopharmaceutical research. The mounting demand for advanced biosimilars and biologics is another factor indispensable to the regional market growth.
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For the purpose of this report, the global solvent evaporation market has been segmented based on type, end-user, and region:
By Type (Revenue, USD Billion; 2018-2028)
- Nitrogen Blowdown Evaporators
- Centrifugal Evaporators
- Rotary Evaporators
- Small-volume Rotary Evaporators
- Large-volume Rotary Evaporators
- Spiral Air Flow Evaporators/ Intelligent Evaporators/Smart Evaporators
By End-user (Revenue, USD Billion; 2018-2028)
- Pharmaceutical and Biopharmaceutical Industries
- Research and Academic Institutes
- Diagnostic Laboratories
Regional analysis covers:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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