Magnetic stirrers are laboratory equipment used to mix solid and liquid components to form homogenous mixtures using rotating magnetic fields. A magnetic stirrer comprises small magnetic stirrer bar, which is immersed into the solution to be mixed and a rotating magnet attached to the bottom plate. A rotating magnetic field is created by the rotation of the magnet at varying speeds.
The magnetic stirrer bar is usually coated with plastics such as polytetrafluoroethylene (PTFE), which is a chemically inert material. Magnetic Stirrers are extensively used in analytical chemistry labs for mixing chemical components and in biological laboratories to prepare cell culture media. Most of magnetic stirrers are available with hot plates to maintain the required temperature while mixing the solutions. Magnetic stirrers are ideal for the non-viscous solutions for small volumes ranging from 50ml to 5000ml and for the reactions which need to be carried out in a closed vessel or system. Small magnetic bar is inserted into the solution, minimizing the risk of contamination. Magnetic stirring can be advantageous for solutions requiring constant mixing for a longer duration. These stirrers are available with varying rotating speeds, temperature, and number of rotation positions.
The magnetic stirrers are required in chemical & biological laboratories, pharmaceutical and biotech companies, and academic institutes. Growth of the global magnetic stirrers market is primarily driven by increasing number of biological and chemical laboratories and companies across the globe. The development of new designs provides multiple stirring positions on a single platform, which reduces time and improves work efficiency. Properties such as minimized risk of contamination and time efficiency have increased demand for the product among scientists worldwide. Growing pharmaceutical, biotechnology, and polymer industry in developing economies such as India, China, Brazil, and Malaysia, are likely to boost market growth during the forecast period. However, restricted expenditure on R&D and lack of skilled professionals in the underdeveloped countries are likely to restrain the global magnetic stirrers market.
The global magnetic stirrers market has been broadly segmented based on product type, type of display, number of stirring positions, portability, end-user, and region. In terms of product type, the market has been bifurcated into regular magnetic stirrers and hotplate magnetic stirrers. The regular magnetic stirrer segment accounted for the largest market share in 2016. It is likely to continue to sustain its position till 2025. The hotplate magnetic stirrers segment is projected to expand at the highest CAGR during forecast period. Based on display, the market has been divided into digital and analog display magnetic stirrers. Analog magnetic stirrers were commonly used. However, presently, end-users prefer digital magnetic stirrers.
In terms of number of stirring positions, the market ranges from single stirring positions to multiple stirring positions. Based on portability, these equipment are available in bench top models and battery powered portable models. The bench top models segment dominated the market and is likely to account for the largest market share by the end of 2025. In terms of end-user, the magnetic stirrers market has been segmented into chemical and biological research institutes, pharmaceutical, chemical, and biotech companies, and academic institutes.
In terms of region, the global magnetic stirrers market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to account for the largest market share by the end of 2025. Europe is anticipated to be the second largest market for magnetic stirrers. The market in Asia Pacific is anticipated to expand at the highest CAGR during the forecast period. Growth of the market in the region can be attributed to emerging economies such as India, China, and Malaysia, increased R&D budgets, and growing investments by pharmaceutical and chemical companies. The market in Latin America and Middle East & Africa is likely to grow at moderate growth rate during the forecast period.
Key players operating in the global magnetic stirrers market include DWK Life Sciences, Inc., 2mag AG, Scilogex, LLC, Thermo Fisher Scientific, Inc., PAW Bioscience Products, LLC., IKA-Werke GmbH & Co. KG, Thomas Scientific, Inc., Yamato Scientific America, Inc., Torrey Pines Scientific, Inc., and Labnet International, Inc.
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.
3. Actionable Results
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.