The global laboratory mixers 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% during the forecast period growth in the laboratory mixers market is majorly driven by rising increasing research activity in the pharmaceutical and biotechnology industries and rising investments in R&D activities.
COVID-19 Impact on the global laboratory mixers market
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/postsales 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.
By product, the magnetic stirrers segment is expected to grow at the highest CAGR during the forecast period
Magnetic stirrers are most commonly used in chemical and biological research laboratories to ensure liquid samples are homogeneous in consistency and temperature. Growth in funding for life science research and the increasing number of research laboratories are the primary drivers for the growth of this segment.
Digital devices is the largest platform segment of the laboratory mixers 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.
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North America is the largest regional market for laboratory mixers
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.
Key Market Players
Thermo Fisher Scientific (US), Eppendorf (Germany), IKA Works (Germany), Cole-Parmer (US), and Avantor, Inc. (VWR) (US), Scientific Industries Inc. (US), Benchmark Scientific, Inc. (US), Bio-Rad Laboratories (US), Corning Incorporated (US), Heidolph Instruments GmbH & CO. KG(Germany) , Labstac Ltd. (UK), SaintyCo (China), SARSTEDT AG & Co. KG(Germany), Silverson (US), Remi Group (India), Ratek Instruments (Australia), Phoenix Instrument (US), Ovan (Spain), Nickel-Electro Ltd, Admix, Inc. (UK), VMI (Linxis Group) (The Netherlands), Charles Ross & Son Company (India), Shakti Pharmatech Pvt. Ltd. (India), Hayward Gordon (Canada), and VITL (UK).