Rotary Evaporator Market Outlook To 2024: In-Depth Market View, Key Product Categories (Small, Large), Applications (Chemical, Pharmaceutical), Regional Segmentation, Top Players & Company Share, Competitive Dynamics, Growth Drivers & Restraints, M&A Insights, Segment Forecast And Key Conclusion
14th April 2017, Florida- The global rotary evaporator market size worth USD 594.8 Million by 2024, growing at a CAGR of 9.5% over the period of 2017 to 2024 according to a new research study published by Ameri Research. Increasing research & development activities primarily across pharmaceutical and chemical sector is a major factor driving growth in this industry.
The mounting need to achieve the highest level of purity in drugs to diagnose diseases effectively is another primary factor escalating the demand for rotary evaporators significantly over the forecast period. The market is also driven by the rapid growth in the biotechnology sector which further requires pure samples for experimental purpose. Growing emergence of asset management companies mainly in developing economies of Asia Pacific is also expected to propel product demand significantly over the next few years.
Rising emphasis on better quality control coupled with the growing need and importance to effectively diagnose drugs are among other factors favorably impacting market growth. North America accounted for the majority market share in 2016 while Asia Pacific emerged as the fastest growing regional market over the forecast period.
With advancements in technology, companies have started developing products with enhanced features and more precise results. This has further instigated 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.
Click the link below to view the report description: - https://www.ameriresearch.com/product/rotary-evaporator
Key findings from the study:-
• Small rotary evaporators accounted for majority revenue share in 2016 owing to benefits including low cost, custom solutions, easy installation and simple functioning. Large rotary evaporators on the other hand, are expected to flourish over the forecast period ascribing to elevating installation primarily in the industrial sector.
• Chemical application segment held the significant portion in the overall market which is attributed to the predominant usage of these devices in the chemical sector for efficient removal of solvents from samples.
• The pharmaceutical sector is expected to exhibit high growth opportunities over the coming years which is accredited to the mounting focus by healthcare providers to minimize treatment cost by effectively diagnosing the drugs and its constituents.
• North America accounted for majority revenue share in 2016 owing to the presence of a large number of companies conducting their R&D activities in the region. However, Asia Pacific is anticipated to exhibit the highest growth on account of increasing number of companies shifting their R&D plants in the region mainly due to low labor cost.
Ameri Research has segmented the Global Rotary Evaporator Market by product, application and region:
Rotary Evaporator Market by Product (Revenue, USD Million; Volume, Million Units)
• Small Rotary Evaporator
• Large Rotary Evaporator
Rotary Evaporator Market by Application (Revenue, USD Million; Volume, Million Units)
Rotary Evaporator Market by Region (Revenue, USD Million; Volume, Million Units)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
o Saudi Arabia