Hot plate stirrer market size to grow by USD 373.64 million from 2022 to 2027; Growth driven by rapid growth of e-commerce - Technavio

NEW YORK, March 27, 2023 /PRNewswire/ -- The global hot plate stirrer market size is estimated to grow by USD 373.64 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 5.82% during the forecast period. The growth of the market is driven by the rapid growth of e-commerce. The increasing popularity of e-commerce has led market vendors to make their products available online and drive more sales. The availability of laboratory-related products online has allowed customers to compare configurations offered by different brands. It has also enabled manufacturers to cater to new countries and simplify distribution. All these factors are driving the growth of the global hot plate stirrer market.

However, the limited sample volume capacity of hot plate stirrers is hindering the growth of the market. Hot plate stirrers cannot be used for sample volumes of more than a few liters. This limits their adoption in different application areas. End-users prefer overhead stirrers in the case of high-volume applications. Also, overhead stirrers are energy efficient when it comes to applications where samples are in large volumes and can be operated for a much longer period. This is reducing the adoption of hot plate stirrers among end-users, which is hindering the growth of the market. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

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Global Hot Plate Stirrer Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on end-user (pharmaceutical and chemical, academic research and clinical biology, and others), material (ceramic and aluminum), and geography (North America, Europe, Asia, and Rest of World).

• The market growth in the pharmaceutical and chemical end-user segment will be significant during the forecast period. The continuous demand for advanced diagnostics, drug discovery, and surgeries in the pharmaceutical industry has been driving the growth of the segment. In addition, the expansion of business activities by pharmaceutical companies and the rising number of chronic diseases are supporting the growth of the segment.

Geography Overview
The report provides actionable insights and estimates the contribution of all regions to the growth of the global hot plate stirrer market.

• North America will account for 37% of the market growth during the forecast period. The region is home to several major vendors, including Thermo Fisher Scientific Inc. and Grant Instruments (Cambridge) Ltd. Vendors operating in the region are expanding their product portfolios by launching new variants of hot plate stirrers. For instance, in March 2021, OHAUS Corp. (OHAUS) announced the launch of Guardian 7000 and Guardian 5000 variants of hot plate stirrers. Such product launches are driving the growth of the regional market.

Insights on the market contribution of various segments, including country- and region-wise historic period (2017 to 2021) and forecast market size (2023 to 2027) - Download a Sample Report

Global Hot Plate Stirrer Market – Major Vendors

The global hot plate stirrer market is fragmented due to the presence of a significant number of small to large-scale vendors. Established vendors have strong financial abilities and technical expertise in offering innovative and quality products. They are investing in R&D and adopting organic growth strategies such as new product launches to expand their customer base. Small-scale vendors are competing with established vendors by using low-pricing strategies and strengthening their local customer base. All these factors are intensifying the competition in the market. Some of the key vendors covered in the report include:

• Avantor Inc. - The company offers hot plate stirrers, namely, Magnetic hotplate stirrers, Advanced magnetic hotplate stirrers, VWR, and Magnetic hotplate stirrer VMSA.
• Benchmark Scientific Inc. - The company offers hot plate stirrers namely, Benchmark Hotplate, Benchmark Hotplate magnetic stirrer, and Benchmark magnetic stirrer.
• Biosan - The company offers a hot plate magnetic stirrer named MHS 300 stirrer.
• Camlab Ltd. - The company offers hot plate stirrers namely, Cole Parmer modular magnetic stirrer, SHP 200 Series Stuart Undergrad Digital Stirring Hot Plates, and Cole Parmer SHP200 Series Large Capacity Digital Stirring Hot Plates.

Global Hot Plate Stirrer Market – Major Trends

• The growing prominence of magnetic stirrer solutions in the biomedical sector is identified as the major trend in the market.
• The biomedical industry is witnessing rapid growth in developing regions such as Asia.
• Countries in this region are providing a huge customer base for clinical trials and drug discovery.
• Governments in China, Singapore, and South Korea have taken various measures to support investments in R&D, especially in the biomedical sector.
• With the growing number of initiatives related to biomedical research, the demand for magnetic stirrer solutions, including hot plate stirrer solutions, will increase during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this hot plate stirrer market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the hot plate stirrer market between 2023 and 2027
• Precise estimation of the size of the hot plate stirrer market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the hot plate stirrer market industry across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of hot plate stirrer market vendors

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Table of contents:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Material
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global hot plate stirrer market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global hot plate stirrer market 2017 - 2021 ($ million)

• 4.2 End-user Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – End-user Segment 2017 - 2021 ($ million)

• 4.3 Material Type Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Material Type Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Market Share of Vendors

• 5.1 Market Share of Vendors 2021 
• Exhibit 23: Data table on Market share of vendors in North America Market share of Vendors 2021
• Exhibit 24: Data table on Market share of vendors in Europe Market share of Vendors 2021
• Exhibit 25: Data table on Market share of vendors in Asia Market share of Vendors 2021
• Exhibit 26: Data table on Market share of vendors in ROW Market share of Vendors 2021

6 Five Forces Analysis

• 6.1 Five forces summary 
• Exhibit 27: Five forces analysis - Comparison between 2022 and 2027

• 6.2 Bargaining power of buyers 
• Exhibit 28: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 6.3 Bargaining power of suppliers 
• Exhibit 29: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 6.4 Threat of new entrants 
• Exhibit 30: Threat of new entrants – Impact of key factors in 2022 and 2027

• 6.5 Threat of substitutes 
• Exhibit 31: Threat of substitutes – Impact of key factors in 2022 and 2027

• 6.6 Threat of rivalry 
• Exhibit 32: Threat of rivalry – Impact of key factors in 2022 and 2027

• 6.7 Market condition 
• Exhibit 33: Chart on Market condition - Five forces 2022 and 2027

7 Market Segmentation by End-user

• 7.1 Market segments 
• Exhibit 34: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 35: Data Table on End-user - Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 36: Chart on Comparison by End-user
• Exhibit 37: Data Table on Comparison by End-user

• 7.3 Pharmaceutical and chemical - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Pharmaceutical and chemical - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Pharmaceutical and chemical - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Pharmaceutical and chemical - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Pharmaceutical and chemical - Year-over-year growth 2022-2027 (%)

• 7.4 Academic research and clinical biology - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Academic research and clinical biology - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Academic research and clinical biology - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Academic research and clinical biology - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Academic research and clinical biology - Year-over-year growth 2022-2027 (%)

• 7.5 Others - Market size and forecast 2022-2027
• Exhibit 46: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by End-user 
• Exhibit 50: Market opportunity by End-user ($ million)

8 Market Segmentation by Material

• 8.1 Market segments 
• Exhibit 51: Chart on Material - Market share 2022-2027 (%)
• Exhibit 52: Data Table on Material - Market share 2022-2027 (%)

• 8.2 Comparison by Material 
• Exhibit 53: Chart on Comparison by Material
• Exhibit 54: Data Table on Comparison by Material

• 8.3 Ceramic - Market size and forecast 2022-2027
• Exhibit 55: Chart on Ceramic - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Ceramic - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Ceramic - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Ceramic - Year-over-year growth 2022-2027 (%)

• 8.4 Aluminum - Market size and forecast 2022-2027
• Exhibit 59: Chart on Aluminum - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Aluminum - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Aluminum - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Aluminum - Year-over-year growth 2022-2027 (%)

• 8.5 Market opportunity by Material 
• Exhibit 63: Market opportunity by Material ($ million)

9 Customer Landscape

• 9.1 Customer landscape overview 
• Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

10 Geographic Landscape

• 10.1 Geographic segmentation 
• Exhibit 65: Chart on Market share by geography 2022-2027 (%)
• Exhibit 66: Data Table on Market share by geography 2022-2027 (%)

• 10.2 Geographic comparison 
• Exhibit 67: Chart on Geographic comparison
• Exhibit 68: Data Table on Geographic comparison

• 10.3 North America - Market size and forecast 2022-2027
• Exhibit 69: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 10.4 Europe - Market size and forecast 2022-2027
• Exhibit 73: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 10.5 Asia - Market size and forecast 2022-2027
• Exhibit 77: Chart on Asia - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on Asia - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on Asia - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Asia - Year-over-year growth 2022-2027 (%)

• 10.6 Rest of World (ROW) - Market size and forecast 2022-2027
• Exhibit 81: Chart on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)

• 10.7 US - Market size and forecast 2022-2027
• Exhibit 85: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on US - Year-over-year growth 2022-2027 (%)

• 10.8 China - Market size and forecast 2022-2027
• Exhibit 89: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on China - Year-over-year growth 2022-2027 (%)

• 10.9 UK - Market size and forecast 2022-2027 
• Exhibit 93: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 10.10 Canada - Market size and forecast 2022-2027
• Exhibit 97: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 10.11 Germany - Market size and forecast 2022-2027
• Exhibit 101: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 10.12 Market opportunity by geography 
• Exhibit 105: Market opportunity by geography ($ million)

11 Drivers, Challenges, and Trends

• 11.1 Market drivers

• 11.2 Market challenges

• 11.3 Impact of drivers and challenges 
• Exhibit 106: Impact of drivers and challenges in 2022 and 2027

• 11.4 Market trends

12 Vendor Landscape

• 12.1 Overview

• 12.2 Vendor landscape 
• Exhibit 107: Overview on Criticality of inputs and Factors of differentiation

• 12.3 Landscape disruption 
• Exhibit 108: Overview on factors of disruption

• 12.4 Industry risks 
• Exhibit 109: Impact of key risks on business

13 Vendor Analysis

• 13.1 Vendors covered 
• Exhibit 110: Vendors covered

• 13.2 Market positioning of vendors 
• Exhibit 111: Matrix on vendor position and classification

• 13.3 AHN Biotechnologie GmbH 
• Exhibit 112: AHN Biotechnologie GmbH - Overview
• Exhibit 113: AHN Biotechnologie GmbH - Product / Service
• Exhibit 114: AHN Biotechnologie GmbH - Key offerings

• 13.4 Avantor Inc. 
• Exhibit 115: Avantor Inc. - Overview
• Exhibit 116: Avantor Inc. - Business segments
• Exhibit 117: Avantor Inc. - Key offerings
• Exhibit 118: Avantor Inc. - Segment focus

• 13.5 Benchmark Scientific Inc. 
• Exhibit 119: Benchmark Scientific Inc. - Overview
• Exhibit 120: Benchmark Scientific Inc. - Product / Service
• Exhibit 121: Benchmark Scientific Inc. - Key offerings

• 13.6 Biosan 
• Exhibit 122: Biosan - Overview
• Exhibit 123: Biosan - Product / Service
• Exhibit 124: Biosan - Key offerings

• 13.7 Cole Parmer Instrument Co. LLC 
• Exhibit 125: Cole Parmer Instrument Co. LLC - Overview
• Exhibit 126: Cole Parmer Instrument Co. LLC - Product / Service
• Exhibit 127: Cole Parmer Instrument Co. LLC - Key offerings

• 13.8 Corning Inc. 
• Exhibit 128: Corning Inc. - Overview
• Exhibit 129: Corning Inc. - Business segments
• Exhibit 130: Corning Inc. - Key news
• Exhibit 131: Corning Inc. - Key offerings
• Exhibit 132: Corning Inc. - Segment focus

• 13.9 Electron Microscopy Sciences 
• Exhibit 133: Electron Microscopy Sciences - Overview
• Exhibit 134: Electron Microscopy Sciences - Product / Service
• Exhibit 135: Electron Microscopy Sciences - Key offerings

• 13.10 Falc Instruments Srl 
• Exhibit 136: Falc Instruments Srl - Overview
• Exhibit 137: Falc Instruments Srl - Product / Service
• Exhibit 138: Falc Instruments Srl - Key offerings

• 13.11 Grant Instruments (Cambridge) Ltd. 
• Exhibit 139: Grant Instruments (Cambridge) Ltd. - Overview
• Exhibit 140: Grant Instruments (Cambridge) Ltd. - Product / Service
• Exhibit 141: Grant Instruments (Cambridge) Ltd. - Key offerings

• 13.12 Hanna Instruments Inc. 
• Exhibit 142: Hanna Instruments Inc. - Overview
• Exhibit 143: Hanna Instruments Inc. - Product / Service
• Exhibit 144: Hanna Instruments Inc. - Key offerings

• 13.13 Heidolph Instruments GmbH and CO. KG 
• Exhibit 145: Heidolph Instruments GmbH and CO. KG - Overview
• Exhibit 146: Heidolph Instruments GmbH and CO. KG - Product / Service
• Exhibit 147: Heidolph Instruments GmbH and CO. KG - Key offerings

• 13.14 IKA Werke GmbH and CO. KG 
• Exhibit 148: IKA Werke GmbH and CO. KG - Overview
• Exhibit 149: IKA Werke GmbH and CO. KG - Product / Service
• Exhibit 150: IKA Werke GmbH and CO. KG - Key offerings

• 13.15 Merck KGaA 
• Exhibit 151: Merck KGaA - Overview
• Exhibit 152: Merck KGaA - Business segments
• Exhibit 153: Merck KGaA - Key news
• Exhibit 154: Merck KGaA - Key offerings
• Exhibit 155: Merck KGaA - Segment focus

• 13.16 Thermo Fisher Scientific Inc. 
• Exhibit 156: Thermo Fisher Scientific Inc. - Overview
• Exhibit 157: Thermo Fisher Scientific Inc. - Business segments
• Exhibit 158: Thermo Fisher Scientific Inc. - Key news
• Exhibit 159: Thermo Fisher Scientific Inc. - Key offerings
• Exhibit 160: Thermo Fisher Scientific Inc. - Segment focus

• 13.17 VELP Scientifica Srl 
• Exhibit 161: VELP Scientifica Srl - Overview
• Exhibit 162: VELP Scientifica Srl - Product / Service
• Exhibit 163: VELP Scientifica Srl - Key offerings

14 Appendix

• 14.1 Scope of the report

• 14.2 Inclusions and exclusions checklist 
• Exhibit 164: Inclusions checklist
• Exhibit 165: Exclusions checklist

• 14.3 Currency conversion rates for US$ 
• Exhibit 166: Currency conversion rates for US$

• 14.4 Research methodology 
• Exhibit 167: Research methodology
• Exhibit 168: Validation techniques employed for market sizing
• Exhibit 169: Information sources

• 14.5 List of abbreviations 
• Exhibit 170: List of abbreviations

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