Laboratory mixers include shakers, magnetic stirrers, vortex mixers, and overhead stirrers that can be used for the purpose of mixing, emulsifying, and homogenizing more than one ingredient. Laboratory mixers are important instruments required in different processes, including the preparation of fine emulsions, reducing particle sizes, carrying out chemical reactions, dissolving components, and facilitating heat transfers.
An increase in overall research activity in the pharmaceutical and biotechnology industries is the key factor driving the market. Academia-industry collaborations have been identified as an area of opportunity for companies seeking to develop innovative products or capabilities in the Laboratory Mixers
Increasing research activity in the pharmaceutical and biotechnology industries is expected to drive the overall growth of the laboratory mixers market.”
The laboratory mixers market is expected to grow from USD 1.1 billion in 2018 to USD 1.4 billion by 2023, at a CAGR of 4.4% during the forecast period. The laboratory mixers market is driven primarily by the increasing R&D activity in the pharmaceutical and biotechnology industries. However, the high cost of advanced laboratory mixers and long equipment lifespan are expected to restrain the growth of this market during the forecast period.
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“North America projected to hold the largest market share in 2018.”
North America is estimated to be the largest regional market for laboratory mixers, followed by Europe. The large share of this regional segment is attributed to the increasing demand for biopharmaceuticals and rising R&D expenditure by biopharmaceutical companies. These factors are supporting growth in the field of life science research, which in turn has contributed to the adoption of laboratory mixers.
Currently, India has shown significant growth in the CROs market. This can be attributed to the increasing focus of companies on outsourcing research to this country, due to the availability of skilled and low-cost labor in India. India is also considered the fastest-growing hub for clinical trials around the globe; this has enabled the market for laboratory and other equipment types for CROs, hospitals, diagnostic laboratories, medical schools, and colleges to grow significantly, thus ensuring the growth of associated markets such as laboratory mixers.
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