Evaporators are devices which are used to separate a solvent from a compound. It can be used to extract a solid by separating the liquid from it or to concentrate and purify solutions which reduce the amount of the end product and remove the impurities for safer storage and consumption. The process also reduces the expense associated with the transport and handling of larger volumes of materials. Laboratory evaporators are used to remove liquids from solutions during laboratory procedures. They are used in many industries to extract samples for analysis. Food and pharmaceuticals industries, petroleum and chemical industries, and laboratories all use evaporators for extraction of sample for further analysis. Laboratory evaporators are used to remove organic solvents and some laboratory evaporators are used to remove water from solutions. Laboratory evaporators produce a dry sample ready for analysis by using heat, gas, or some combination, and thus is an important equipment in many laboratories.
Increasing research and development activities in pharmaceutical industries to introduce novel therapeutics requires laboratory evaporators for many procedures during drug development. Rising demand to attain the highest purity in drugs is one of the important factors driving the demand for laboratory evaporators. Rapid advancement and growth in the biotechnology sector which necessitates pure samples for experimental purposes and rising emphasis on better quality control coupled with the growing demand and importance to efficiently diagnose drugs are among the factors driving the laboratory evaporator market. Technological advancements has led key players to initiate the development of new and innovative products with enhanced features and more accurate results. This has further prompted other industry participants to reduce product prices, resulting in increased competition. The industry is also witnessing the emergence of new entrants with low-cost products, further increasing product competition.
The global laboratory evaporator market has been categorized based on evaporator type, product type, application, end user, and region. In terms of laboratory evaporator type, the market is segmented into nitrogen evaporators, vacuum evaporators, rotary evaporator and others. Rotary evaporators are further segmented into small rotary evaporator and large rotary evaporator. Rotary evaporator segment dominates the market owing to rising research & development activities across the pharmaceutical and chemical sector which is a major factor driving growth in this segment. By application type, the laboratory evaporator market can be segmented into distillation, drying, concentration, sublimation, reflux reaction, Soxhlet extraction, and Re-crystallization. In terms of end user, the market has been segmented into food and pharmaceutical industries, petroleum & chemicals, and others. The others segment includes research institutes and organizations, and laboratories. The pharmaceutical sector is expected to exhibit high growth opportunities over the coming years which is credited to the mounting focus by healthcare providers to minimize treatment cost by effectively diagnosing drugs and its constituents.
Geographically, the global laboratory evaporator market is distributed over North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America was the largest market for laboratory evaporators owing to the presence of a large number of established key players conducting research and development activities in the region. Increase in research and development of drugs and therapeutics leads to high demand for laboratory equipment for analysis and purification which has increased the demand for laboratory evaporators in pharmaceutical industries and research laboratories. Asia Pacific is likely to witness the highest CAGR due to rising number of pharmaceutical companies in emerging markets and high funding from government organizations for research and development of low cost therapeutic products which indirectly boosts the demand for laboratory evaporators.
Key players in the global laboratory evaporators market are BÜCHI Labortechnik AG, Dragon Laboratory Instruments, Thermo Fisher Scientific, Inc., IKA India Private Limited, Porvair Sciences Ltd, Stuart Equipment, LabTech, Inc., Auxilab, Gardner Denver Medical, Steroglass S.r.l., and others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.