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%. 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.
Solvent Evaporation Market by Evaporator Type (Rotary Evaporator, Nitrogen Blow Down Evaporator, Centrifugal Evaporator), End-User (Pharmaceutical & Biopharmaceutical, Diagnostic Laboratories, Research & Academic Institute), Region – Global Forecast to 2024
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The Solvent Evaporation Market is Segmented on:
1. Type
2. End-User
3. Region
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.
Gene synthesis accounted for the largest share of the synthetic biology market in 2019.
Based on technology, the market is segmented into gene synthesis, genome engineering, cloning, sequencing, site-directed mutagenesis, measurement & modeling, microfluidics, nanotechnology, and bioinformatics technologies. In 2019, the gene synthesis segment accounted for the largest share of the market.
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Critical questions the report answers:
- Where will all these developments take the industry in the medium to long-term?
- Which are the major types of products offered in solvent evaporators?
- Which geographies are likely to grow at the highest CAGR?
- What are the major end-users of the market?
- What are the different drivers & restraints of the market, and what will their impact be during the forecast period?
