Report : Europe 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)
Pharmaceutical and Biopharmaceutical Industry Segment to Dominate Europe Solvent Evaporation Market During 2021–2028
According to a new market research study on “Europe Solvent Evaporation Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and End User” is expected to reach US$ 251.93 million by 2028 from US$ 164.66 million in 2021. The market is estimated to grow at a CAGR of 6.3% from 2021 to 2028. The report provides trends prevailing in the Europe solvent evaporation market along with the drivers and restraints pertaining to the market growth. Rising product launches and increasing R&D expenditure in pharmaceutical industry are the major factor driving the growth of the Europe solvent evaporation market. However, complications such as inaccuracies in results and wastage of resources hinders the growth of Europe solvent evaporation market.
In case of COVID-19, Europe is highly affected specially France. Other Countries such as Italy, Spain, the UK, Germany, Russia, and Switzerland are also got affected due to pandemic. The European economy is severely affected due to the exponential growth of COVID-19 cases in the region. Spain, Italy, Germany, France, and the UK are among the most affected European countries and number of deaths are also high. The current coronavirus (COVID-19) outbreak has been declared by WHO as a Public Health Emergency of International Concern, according to the International Health Regulation. Solvent evaporation is a backhand process for R&D. The rising numbers of product launches in 2020 has not impacted of covid-19 in the Europe solvent evaporation market. In 2020, European Medicines Agency (EMA) approved about 97 medicines for marketing authorization of which, 39 are novel drugs.
The Europe 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 Europe 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 Europe 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 the UK, Germany, France, Italy, Spain, and rest of Europe.
Apricot Designs, Inc.; Biotage AB; Büchi Labortechnik AG; Heidolph Instruments GmbH & CO. KG; IKA Werke GmbH & CO. KG; KNF NEUBERGER, INC.; LabTech S.r.l.; Organomation Associates, Inc.; Porvair plc; SCINCO CO.,LTD. ; Steroglass Srl; and Yamato Scientific co., ltd. are among the leading companies in the Europe 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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