Description
The global rotary evaporator market was valued at $288.6 mn in 2016 and is forecast to grow at a healthy CAGR of 9.5% between 2017 and 2024, culminating to global revenue of $594.8 mn by 2024.
Industry at a Glance
Snowballing research and development activities primarily across chemical and pharmaceutical industries is a major factor driving the demand for rotary evaporator market over the forecast period. The industry is majorly driven by the growing need for timely and effective diagnosis of diseases resulting in increased demand for efficient and pure samples.
Accelerated growth of the asset management companies particularly in developing markets of China and India is another factor bolstering growth. With the mounting growth in the biotechnology sector, there is a substantial demand for rotary evaporator to produce pure samples for experimental purpose. The industry is also observing an increasing number of acquisitions and mergers as equipment manufacturers further aim to diversify their product offerings.
Pricing Analysis
“Optimal Price Point (OPP) for Rotary Evaporators”
Estimated average rotary evaporator cost – $ xx globally. However, with improving access and availability of options, OPP, and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.
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.
Product Outline
By product, the market has been segmented into small and large rotary evaporators. Small rotary evaporators accounted for a significant revenue share in the overall market in 2016 owing to several benefits associated with it including low cost, easy installation and transportation. Manufacturers also offer custom made solutions in an attempt to prevail in this highly competitive market.
Large rotary evaporators on the other hand are primarily used for complex distillation processes where a high level of precision is required. OEMs emphasize on various aspects including safety, convenience and cost savings while developing these products.
Applications Insight
By application, the market is majorly classified into pharmaceutical and chemical. Rotary evaporators are more predominantly used across the chemical sector for the efficient removal of solvents from samples by evaporation used for downstream applications. The speed and ability of these products to handle bulk volumes of solvent make rotary evaporation an ideal method of solvent removal in numerous laboratories, mainly in instances involving low boiling point solvents.
Increasing focus among healthcare providers to minimize treatment cost by effectively diagnosing the drugs and its constituents is a major factor driving demand for increasing use of rotary evaporators across the pharmaceutical industry.
Regional Outlook
The global rotary evaporator market has been categorized into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America accounted for the majority market share in 2016 mainly on account of increasing number of companies conducting their R&D activities in the region.
Asia Pacific emerged as the fastest growing regional market with CAGR exceeding 11% over the forecast period. This is ascribed to the rapidly evolving ecosystem instigating companies to shift their manufacturing plants as well as R&D activities mainly due to low labor cost in the region.
M&A Insights
Mergers & acquisitions have been a vital part of the industry with some companies collaborating with each other to provide high quality and advanced products to customers and increase their global presence. For example, Welch, a manufacturer and provider of vacuum pumps collaborated with Ilmvac, a producer of laboratory equipment to provide a more advanced portfolio of vacuum solutions.
Growth Drivers & Restraints
Noteworthy growth drivers in the global rotary evaporators market include increasing emphasis by healthcare providers to effectively diagnose drugs and its constituents, and escalating number of asset management companies providing substantial growth opportunities for rotary evaporator market. Additionally, escalating R&D activities along with growing emphasis on better quality control are among other factors driving growth in this market.
Top Players & Company Share
Notable industry participants include Organomation Associates, Buchi, Steroglass, IKA laboratory Technology, Welch Vacuum, UCHI Labortechnik, Heidolph Instruments, Yamato Scientific, Keison International, MKR Metzger, KNF NEUBERGER, Radleys, Stuart Equipment, and Dionex.
Industry participants focus on investing in R&D activities in an attempt to develop technically advanced and innovative products with enhanced efficiency and accurate results.
Market Segmentation
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)
- Chemical
- Pharmaceutical
- Others
Rotary Evaporator Market, by Region (Revenue, USD Million; Volume, Million Units)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- Colombia
- Middle East & Africa
- Saudi Arabia
- UAE
