Report : Asia-Pacific Solvent Evaporation Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Rotary Evaporators, Nitrogen Blowdown Evaporators, Centrifugal Evaporators, and Spiral Air Flow Evaporators) and End User (Pharmaceutical and Biopharmaceutical Industry, Diagnostic Laboratories, and Research and Academic Institutes)
Nitrogen Blowdown Evaporators Segment is Expected to be Fastest Growing During Forecast Period for APAC Region
According to a new market research study on “APAC Solvent Evaporation Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and End User” is expected to reach US$ 201.99 million by 2028 from US$ 122.59 million in 2021. The market is estimated to grow at a CAGR of 7.4% from 2021 to 2028. The report provides trends prevailing in the APAC solvent evaporation market along with the drivers and restraints pertaining to the market growth. Burgeoning biotech industries in developing countries and rising use of advanced solvent evaporator are the major factor driving the growth of the APAC solvent evaporation market. However, hurdles such as inaccuracies in results and wastage of resources hinders the growth of APAC solvent evaporation market.
In case of COVID-19, APAC is highly affected specially India. The spread of infection has also affected other countries such as South Korea, Australia, Malaysia, and Singapore. Countries in APAC are facing challenges due to increasing incidences of COVID-19. Currently, India is the second worse hit country worldwide. Many measures have been implemented to contain the spread of COVID-19, which have resulted in significant operational disruption for many companies including in the healthcare industry. Staff quarantine, supply-chain failures, and reductions in demand have generated serious complications for companies. The countries participated in the exhibition to gain maximum numbers of customers that helps company to increase its revenue through it. Raykol's distributor attended the Thailand Lab 2020 from Oct 28 to Oct 30, 2020. Many of Raykol's new products were displayed at the exhibition and attracted many users’ inquiries and visits. This helps the company to provide trade opportunity for laboratory equipment industry in Thailand and in Asia. Therefore, the outbreak of the COVID-19 pandemic is estimated to affect no impact on solvent evaporation industry.
The APAC solvent evaporation market has been segmented based on type, end user, and country. Based on type, the market is segmented into rotary evaporators, nitrogen blowdown evaporators, centrifugal evaporators, and spiral air flow evaporators. The rotary evaporators segment dominated the APAC solvent evaporation market in 2020 and nitrogen blowdown evaporators segment is expected to be fastest growing during forecast period. The rotary evaporators segment is further segmented into small-volume rotary evaporators and large-volume rotary evaporators. Based on end user, the market is segmented into the pharmaceutical and biopharmaceutical industry, diagnostic laboratories, and research and academic institutes. The pharmaceutical and biopharmaceutical industry segment dominated the APAC solvent evaporation market in 2020 and research and academic institutes segment is expected to be fastest growing during forecast period. Based on country, the market has been segmented into China, India, Japan, South Korea, Australia, and rest of APAC.
Apricot Designs, Inc.; Biotage AB; Büchi Labortechnik AG; Crescent Scientific; Heidolph Instruments GmbH & CO. KG; IKA Werke GmbH & CO. KG; KNF NEUBERGER, INC.; LabTech S.r.l.; Organomation Associates, Inc.; Porvair plc; Raykol; SCINCO CO.,LTD.; and Yamato Scientific co., ltd. are among the leading companies in the APAC solvent evaporation market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, BUCHI Labortechnik AG (Switzerland) launched SyncorePlus, fully automated solution for parallel evaporation. This is expected to generate maximum revenue through it.
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