Solvent Evaporation Market to Grow at a CAGR of 6.7% to reach US$ 821.41 million from 2020 to 2028

The solvent evaporation market was valued at US$ 470.77 million in 2020 and it is projected to reach US$ 821.41 million by 2028; it is expected to grow at a CAGR of 6.7%  during 2021–2028.

Solvent evaporation involves emulsification of polymer in aqueous phase and dispersion in a volatile solvent like dichloromethane, chloroform, and ethyl acetate. Then the solvent is evaporated using high temperature, vacuum, or by continuous stirring. Size of the particles can be controlled by adjusting parameters like manipulating evaporation temperature, controlling the rate of evaporation, manipulating stirring rate, etc. This method is being practiced for the nanoparticles developed using respective polymers such as, PLA, PLGA, PCL, polyhydroxybutyrate, etc. loaded with various drugs like tetanus toxoid, testosterone, loperamide, cyclosporin A, and indomethacin. Solvent evaporators are widely used in processes such as microencapsulation and are required to prepare polymeric nanoparticles for various pharmaceutical formulations. Technological advancements in solvent evaporation systems, such as centrifugal concentration, freeze-drying, and high-power cold traps, have led to enhanced evaporation and improved solvent recovery, with lesser environmental impact.

The factors such as increasing expenditure on R&D, growing development of large-molecule biopharmaceuticals, surging demand for pure samples in end-use markets drive the growth of the solvent evaporation market. However, inaccuracies in results and wastage of resources due to uneasiness associated with solvent evaporation hinder the Solvent evaporation market growth.

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Solvent Evaporation Market: Strategic Insights

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Market Insights

Increasing R&D Expenditure in Pharmaceuticals Industry

Solvent evaporation active substances are an essential step in the drug discovery process, as it is used in stages such as synthesis, sample preparation, and solvent recycling, as well as in the production scale-up of novel therapeutics. Many pharmaceutical companies invest huge amounts in research and development (R&D) process that mainly revolves around discovering and developing innovative molecules. According to a report published in Statista, the global spending on pharmaceutical R&D totaled US$ ~181 billion in 2018, and it expected to reach US$ 223 billion by 2026. As per the India Brand Equity Foundation, Indian pharmaceutical companies invested ~7.0% of their revenues in the R&D process in 2015 and R&D investment grew by 8.6% in 2019. Thus, increasing R&D expenditure is fueling the growth of the solvent evaporation market.

Type-Based Insights

Based on type, the solvent evaporation market is segmented into rotary evaporators, nitrogen blowdown evaporators, centrifugal evaporators, and spiral air flow evaporators. The rotary evaporators segment held the largest share of the market in 2020. However, the nitrogen blowdown evaporators segment is estimated to register the highest CAGR of 7.4% in the market during the forecast period. The rotary evaporator plays a major role in efficient extraction of solvent through evaporation which is an important step in developing pure samples in several industries. The factors such as increasing R&D expenditures and several benefits associated with this technique are propelling the growth of the solvent evaporation market.

End User-Based Insights

Based on end user, the solvent evaporation market is segmented into pharmaceutical and biopharmaceutical industry, diagnostic laboratories, and research and academic institutes. The pharmaceutical and biopharmaceutical industry segment held the largest share of the market in 2020. However, the research & academic institutes segment is estimated to register the highest CAGR of 7.7% in the market during the forecast period. due to factors such as increasing drug development studies and rising demand for continuous innovation and enhancement of existing products.

Various companies operating in the solvent evaporation market use strategies such as product launches, mergers and acquisitions, collaborations, product innovations, and product portfolio expansions to expand their footprint worldwide, maintain the brand name, and meet the growing demand from end users.

Solvent Evaporation Market Regional Insights

The regional trends and factors influencing the Solvent Evaporation Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Solvent Evaporation Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Solvent Evaporation Market Report Scope

Solvent Evaporation Market Players Density: Understanding Its Impact on Business Dynamics

The Solvent Evaporation Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Solvent Evaporation Market are:

1. BUCHI LABORTECHNIK AG
2. BIOTAGE AB
3. LABCONCO CORPORATION
4. HEIDOLPH INSTRUMENTS GMBH & CO. KG
5. YAMATO SCIENTIFIC CO., LTD.

Disclaimer: The companies listed above are not ranked in any particular order.

Solvent Evaporation Market – by Type

• Rotary Evaporators
• Nitrogen Blowdown Evaporators
• Centrifugal Evaporators
• Spiral Air Flow Evaporators

Solvent Evaporation Market – by End User

• Pharmaceutical and Biopharmaceutical Industry
• Diagnostic Laboratories
• Research and Academic Institutes

Solvent Evaporation Market – by Geography

• North America

  • US
  • Canada
  • Mexico

• Europe

  • France
  • Germany
  • Italy
  • UK
  • Spain
  • Rest of Europe

• Asia Pacific (APAC)

  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of Asia Pacific

• Middle East & Africa (MEA)

  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East & Africa

• South America (SAM)

  • Brazil
  • Argentina
  • Rest of South and Central America

Company Profiles

• BUCHI LABORTECHNIK AG
• BIOTAGE AB
• LABCONCO CORPORATION
• HEIDOLPH INSTRUMENTS GMBH & CO. KG
• YAMATO SCIENTIFIC CO., LTD.
• PORVAIR PLC
• IKA WERKE GMBH AND CO. KG
• STEROGLASS SRL
• ORGANOMATION ASSOCIATES, INC.
• KNF NEUBERGER, INC.
• RAYKOL
• APRICOT DESIGNS, INC.
• LABTECH S.R.L.
• CRESCENT SCIENTIFIC
• SCINCO CO., LTD