New York, April 08, 2021 (GLOBE NEWSWIRE) — Market Size – USD 523.5 million in 2020, Market Growth – at a CAGR of 7.5%, Market Trends – The rapidly growing demand for biologics & biosimilars
The global solvent evaporation market size is expected to reach USD 926.8 million by 2028 at a CAGR of 7.5%, according to a new report by Reports and Data. The rising number of pharmaceutical and biopharmaceutical companies globally, rising government funds for pharmaceutical R&D activities, increasing collaborations among leading pharmaceutical companies and academic & research institutes, and the fast-paced adoption of laboratory automation solutions are among the most significant parameters contributing to the global solvent evaporation market development. The market has gained momentum over the last few years due to the rising prevalence of acute and chronic diseases, higher emphasis on new drug development, and the increasing number of clinical and research laboratories worldwide. The expanding biologics & biosimilars sector, growing demand for advanced cancer therapeutics, increasing adoption of large-molecule biopharmaceuticals, and the amplifying need for pure pharmaceutical drug samples create more opportunities for market growth in the near future.
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Solvent evaporators are evaporation systems extensively used by the pharmaceutical sector to remove impure organic solvents. The pharmaceutical sector requires advanced, high-performance solvent evaporators to facilitate the drug manufacturing process. Pharmaceutical drugs need to be thoroughly analyzed before dispersion into an organic polymer solution. This sector uses rotary evaporators for the gentle removal of impure solvents from samples. Solvents play a vital role in active pharmaceutical ingredients (APIs) and need to be in the purest state for the utmost efficacy of drugs. Hence, the rising production of APIs has propelled the demand for solvent evaporators in this sector. Manufacturers have increasingly been introducing solvent evaporation systems with technologically advanced and more efficient features. For instance, in August 2020, CAPNA® Systems launched the new Alcohol Recovery Evaporator System-multi-solvent (ARES-ms™), an advanced multi-solvent evaporation system capable of separating over three solvents in one solution. The new product has garnered massive attention as it enables the user to save time and decrease manufacturing costs.
Furthermore, solvent evaporators find significant usage in pharmaceutical formulations, such as microencapsulation and polymeric nanoparticles. Solvent evaporators are also used across the chemical, petroleum, and food & beverage industries during sample preparation. However, the global solvent evaporation market growth is restrained by several disadvantages of using rotary evaporators. Like some other evaporation methods like short path distillation, rotary evaporators cannot process more than one sample at once and have a limited life. Moreover, the sample materials in these systems susceptible to contamination due to exposure to air, which could ultimately affect the drug development process.
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Key Highlights of the Report:
- Based on type, the rotary evaporators segment is expected to hold the largest market share over the forecast years. The growth of this segment is supported by the increasing applications of rotary evaporators in pharmaceutical manufacturing, amplifying demand for pure medicinal drug samples, and higher investments in R&D activities in the pharmaceutical and chemical industries.
- The academic & research institutes emerged as the leading end-user segment in 2020. This segment is poised to expand significantly in the coming years, owing to the ever-growing demand for advanced research equipment & tools, increased grants and funds by the government for universities and research institutes, and increasing collaborations among prestigious academic institutes and pharmaceutical companies.
- North America is the largest regional market for solvent evaporation
- among the key regional markets, with the highest revenue share. The regional market growth is accelerated by the rising R&D activities in the life sciences industry, the augmenting need for improved quality & safety of pharmaceutical drugs, the growing adoption of high-performance equipment for pharmaceutical production, and the surging demand for advanced biosimilars & biologic drugs.
Top key players in the global solvent evaporation market are:
- Biotage AB
- Heidolph Instruments GmbH & CO. KG
- Yamato Scientific Co., Ltd.
- BÜCHI Labortechnik AG
- SP Industries, Inc.
- IKA Works GmbH & Co. KG
- Labconco Corporation
- Abel Industries Canada Ltd.
- Steroglass Srl
- DOÐA Limited
- Asahi Glassplant Inc.
- Pope Scientific, Inc.
- Porvair plc
- BioChromato, Inc.
- Organomation Associates, Inc.
- KNF Neuberger, Inc.
- LabTech S.r.l.
- ANPEL Laboratory Technologies Inc.
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For the purpose of this report, the global solvent evaporation market has been segmented based on type, end-user, and region:
By Type (Revenue, USD Billion; 2018-2028)
- Nitrogen Blowdown Evaporators
- Centrifugal Evaporators
- Rotary Evaporators
- Small-volume Rotary Evaporators
- Large-volume Rotary Evaporators
- Spiral Air Flow Evaporators/ Intelligent Evaporators/Smart Evaporators
By End-user (Revenue, USD Billion; 2018-2028)
- Pharmaceutical and Biopharmaceutical Industries
- Research and Academic Institutes
- Diagnostic Laboratories
By Region (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of the Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of the Middle East & Africa
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