Solvent Evaporation Market worth USD 694 million by 2024 : Increasing Research And Development Expenditure

Major Growth Boosters :

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.

Expected Revenue Growth:

[138 Pages Report] The global solvent evaporation market size is projected to reach USD 694 million by 2024 from USD 487 million in 2019, at a CAGR of 7.3%.

What This Report Will Provide?

In this report, the global market for solvent evaporators was arrived at after the assessment of major product segments and their shares. For this purpose, the share of major product segments was determined through various insights gathered during primary and secondary research.

The research process involved the study of multiple factors affecting the industry to identify segmentation types, industry trends, key players, competitive landscape, key market dynamics, and key player strategies.

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Recent Developments

• In June 2019, Yamato Scientific relocated its headquarters to Tokyo, Japan.
• In July 2019, Organomation Associates, Inc. partnered with BioChromato to provide a vacuum-assisted Smart Evaporator to customers in North America.
• In April 2018, Yamato Scientific opened its new R&D Center in Saitama Prefecture, Japan.
• In May 2017, Organomation Associates enhanced its MICROVAP product line with the addition of four new product offerings.

The research & academic institutes end-user segment is expected to grow at a high CAGR

The solvent evaporation market, by the end-user, includes pharmaceutical & biopharmaceutical industry, diagnostic laboratories, and research & academic institutes. The research & academic institutes segment is expected to grow at the highest CAGR during the forecast period due to factors such as the increasing drug development studies and the rising demand for continuous innovation and enhancement of existing products.

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Regional 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.