Market Size of Global Solvent Evaporation Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
CAGR | 6.50 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Solvent Evaporation Market Analysis
The solvent evaporation market is expected to register a CAGR of 6.5% during the forecast period.
The COVID-19 outbreak has had a significant negative impact on the healthcare business and has badly impacted the entire supply chain. Regarding the market studied, the solvent evaporation technique was used in some instances to understand the drug efficacy for COVID-19. For instance, as per the article published in March 2022 titled, 'Study results in three new co-amorphous drug systems with great anti-COVID-19 potential,' in China, MAR has a long history of use in the treatment of chronic enteritis and hepatitis. MAR was used in COVID-19 therapy at the beginning of 2020 in combination with antiviral drugs such as ritonavir, lopinavir, or abidol. To understand the efficacy of these drugs, co-amorphous systems were developed using the solvent evaporation method. Hence, with such effective uses of solvent evaporation, the market witnessed a positive impact of the COVID-19 pandemic.
The growth of the market is attributed to increasing R&D expenditure, a growing development of large-molecule biopharmaceuticals, and increasing demand for pure samples in the end-use markets. For instance, during the year 2021, major pharmaceutical companies spent a considerable amount on research and development as a result of the rising need for novel therapeutics. Companies such as Pfizer, Roche, Merck & Co., and Johnson and Johnson have spent almost 20% to 25% of their total revenue on R&D. This high spending is contributing to the market growth.
The solvent evaporation technique is widely used in sample preparation across pharmaceutical industries. Thus, the increasing use of this technology, coupled with growing development in the novel drug, is propelling the market. Moreover, the benefits of solvent evaporation techniques compared to other preparation methods, such as sonication and spray drying, are widely used in microencapsulation and floating microspheres. Furthermore, the rising demand to obtain the highest purity in drugs with rising demand for laboratory automation is likely to fuel the solvent evaporation market.
Solvent Evaporation Industry Segmentation
As per the scope, solvent evaporation is an important technique used in preparing polymeric nanoparticles for pharmaceutical formulation. This technique involves the emulsification of an organic solvent, which comprise dissolved polymer and dissolved dispersed drug in the continuous phase. The Solvent Evaporation Market is segmented By Type (Nitrogen Blowdown Evaporators, Rotary Evaporators, Centrifugal Evaporators, and Spiral Air Flow Evaporators), End User (Research and Academic Institutes, Diagnostic Laboratories, and Pharmaceutical and Biopharmaceutical Industry), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
By Type | |
Nitrogen Blowdown Evaporators | |
Rotary Evaporators | |
Centrifugal Evaporators | |
Spiral Air Flow Evaporators |
By End User | |
Research and Academic Institutes | |
Diagnostic Laboratories | |
Pharmaceutical and Biopharmaceutical Industry |
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Global Solvent Evaporation Market Size Summary
The solvent evaporation market is poised for significant growth, driven by increasing research and development expenditures and the expanding development of large-molecule biopharmaceuticals. This technique is crucial in pharmaceutical industries for sample preparation, particularly in the pursuit of novel therapeutics. The market has seen a positive impact from the COVID-19 pandemic, as solvent evaporation methods were employed to enhance drug efficacy studies. The demand for pure samples in end-use markets further propels the market, with rotary evaporators playing a pivotal role due to their efficiency in solvent extraction and wide applications across various industries, including food technology and environmental engineering.
North America is anticipated to hold a substantial share of the global solvent evaporation market, supported by robust R&D investments and a strong biopharmaceutical sector. The United States, as a leader in biopharmaceutical research, contributes significantly to this growth. The presence of advanced solvent evaporation technology and a well-established healthcare infrastructure in North America bolsters market expansion. The competitive landscape features key players like Biotage, Buchi Labortechnik AG, and Labconco, who are innovating and enhancing technology to meet the rising demand. These factors collectively position North America as a dominant force in the solvent evaporation market over the forecast period.
Global Solvent Evaporation Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing R&D Expenditure
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1.2.2 Growing Development of Large-molecule Biopharmaceuticals
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1.2.3 Increasing Demand for Pure Samples in the End-user Markets
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1.3 Market Restraints
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1.3.1 High Manufacturing and Product Cost
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1.4 Industry Attractiveness - Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size - Value in USD million)
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2.1 By Type
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2.1.1 Nitrogen Blowdown Evaporators
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2.1.2 Rotary Evaporators
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2.1.3 Centrifugal Evaporators
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2.1.4 Spiral Air Flow Evaporators
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2.2 By End User
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2.2.1 Research and Academic Institutes
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2.2.2 Diagnostic Laboratories
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2.2.3 Pharmaceutical and Biopharmaceutical Industry
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle-East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle-East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Global Solvent Evaporation Market Size FAQs
What is the current Global Solvent Evaporation Market size?
The Global Solvent Evaporation Market is projected to register a CAGR of 6.5% during the forecast period (2024-2029)
Who are the key players in Global Solvent Evaporation Market?
Biotage, Buchi Labortechnik AG, Heidolph Instruments GmbH & CO. KG, Labconco and Yamato Scientific Co. are the major companies operating in the Global Solvent Evaporation Market.