CHICAGO, Oct. 26, 2020 /PRNewswire/ -- According to the new market research report "Laboratory Mixer Market by product (Shaker (Rocker, Roller, Orbital Shaker), Magnetic Stirrer, Vortex Mixer, Accessories), Type, End-User (Research Labs, Pharma- Biotech, CROs, Food Labs, Environmental Testing)– Global Forecast to 2025", published by MarketsandMarkets™, the global Laboratory Mixer Market size is projected to reach USD 2.1 billion by 2025 from USD 1.7 billion in 2020, at a CAGR of 3.7% from 2020 to 2025.
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The increasing research activity in the pharmaceutical and biotechnology industries and rising investments in R&D activities are the key factors driving the growth of this market. 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.
The laboratory mixer market includes major Tier I and II suppliers like Thermo Fisher Scientific, Eppendorf, IKA Works, Cole-Parmer, and Avantor, Inc. (VWR). These suppliers have their manufacturing facilities spread across regions such as North America and Europe. COVID-19 has impacted their businesses as well. The laboratory mixers market is also faced a period of short-term negative growth, which can be attributed to factors such as a decline in the product demand from major end-users, limited operations in most of the industries, inadequate funding to research and academic institutes, temporary closure of major academic institutes, disrupted supply chain, and challenges in providing essential/post sales services due to lockdowns. These factors have led to reduced demand for laboratory mixers from end users. Research institutes are one of the major end users of laboratory instruments. As the pandemic resulted in the temporary closure of several research institutes across the globe, this end-user segment has been affected drastically over the last few months.
Wide use of orbital shakers in all basic research activities in laboratories, academic institutes, and pharmaceutical and biotechnology companies is expected to result in the segment occupying the majority of the laboratory mixers market share
The increasing focus on life science research is one of the major factors driving the demand for laboratory shakers. Most life science laboratories have multiple shakers owing to their wide applications in chemistry, biochemistry, molecular biology, analytical chemistry, microbiology, clinical diagnostics, and cell cultures. The most common application of shakers includes small-scale cultivation of cells in R&D and process development.
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Digital Devices estimated to be the fastest-growing market
Digital devices are estimated to be the fastest-growing segment in the laboratory mixers market. The growth of this segment can be attributed use electronic sound transmission to operate, which makes it easier to connect these devices to a greater number of external devices. These devices are widely used by large pharmaceutical companies owing to the advantages they offer. Unlike analog devices, digital lab mixers have preprogramming functions.
North America is estimated to be the largest market due 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.
Asia Pacific likely to emerge as the largest laboratory mixers market, globally
Asia Pacific is estimated to be the fastest-growing market for laboratory mixers during the forecast period. The Asia Pacific market is driven principally rising prevalence of diseases, increasing life science research, and investments by key market players in the growing APAC biomanufacturing sector, the Asia Pacific region is expected to provide significant growth opportunities for laboratory mixing equipment manufacturers.
Thermo Fisher Scientific (US), Eppendorf (Germany), IKA Works (Germany), Cole-Parmer (US), and Avantor, Inc. (VWR) (US) are the key players in the global laboratory mixers market.
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