The Laboratory Mixer Market is expected to register a CAGR of 4.5% during the forecast period. This is attributing to increasing research activity in the pharmaceutical and biotechnology industries, technological advancements, increasing prevalence of diseases. Laboratory mixers are the important instruments used in several industries such as pharmaceutical, food, cosmetic, biotechnology for mixing up the samples in a homogenous way. Benefits associated with laboratory mixers in terms of time, flexibility, efficiency and safety will also contribute to the high demand and adoption in laboratories. According to the World Health Organization (WHO), cancer is the second leading cause of death across the world, and it was responsible for an estimated 9.6 million deaths in 2018. Globally, about 1 in 6 deaths is due to cancer. About 70% of the deaths due to cancer occur in low- and middle-income countries. Moreover, the burden of cancer differs by region. Almost half of the cancer cases are registered in Asia. Furthermore, in Europe, one quarter of the population is suffering from cancer. In the Americas, 21% of the population is suffering from cancer. Diseases, such as cancer and cardiovascular diseases, account for a vast majority of health spending and most of the pharmaceutical and biotechnology companies have focused on R&D activities for development of novel therapeutics. Hence the rising burden of diseases is further boosting the high demand for these laboratory instruments as these are essentials equipment used for sample mixing in research laboratories and hospitals.
However, the high cost and long-life span associated with a laboratory mixer may hamper the market.
Key Market Trends
Magnetic Stirrers in Laboratory Mixer Market is Estimated to Witness a Healthy Growth in Future.
Magnetic Stirrers are estimated to witness healthy growth in the future attributed to an increasing number of targeted patient pool, growth in fundings for research and an increasing number of research laboratories. Magnetic stirrer is equipments used to mix solid and liquid samples to form a homogenous mixture with the help of a rotating magnetic field. As these equipment are widely used in analytical chemistry labs and biological laboratories for preparing cell culture media. Benefits such as less risk of contamination and time efficiency are some factors due to which these equipment are being adopted by pharmaceutical, biotechnological and research laboratories. With the growing number of these laboratories across the world will boost segment growth.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a significant market share in the global Laboratory Mixer Market due to increasing R&D expenditure, rising demand for biopharmaceuticals, growing prevalence of infectious and chronic diseases, demand for early diagnosis. As per the Centers for Disease Control and Prevention (CDC), an estimate of 9,093 cases were reported of tuberculosis in the United States during 2017. As these equipment are essential in the process of diagnosing the diseases which then further promotes the growth of the laboratory mixer market in this region. Furthermore, increasing healthcare expenditure and the presence of well-established healthcare infrastructure is also fueling the growth of the overall regional market to a large extent.
The Laboratory Mixer Market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market are IKA-Werke, Eppendorf, Thermo Fisher Scientific, Shuanglong Group Co., Ltd, Bio-Rad Laboratories, Inc., REMI GROUP, Benchmark Scientific Inc, Silverson, and SARSTEDT AG & Co. KG.
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1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Research Activity in the Pharmaceutical and Biotechnology Industries
4.2.2 Technological Advancements
4.2.3 Increasing Burden of Diseases
4.3 Market Restraints
4.3.1 High Cost of Advanced Laboratory Mixers and Long Equipment Lifespan
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product Type
188.8.131.52 Orbital Shakers
5.1.2 Vortex Mixers
5.1.3 Magnetic Stirrers
5.2 By End User
5.2.1 Pharmaceutical & Biotechnology Companies
5.2.2 Research Laboratories & Institutes
5.3.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.3.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.3 Thermo Fisher Scientific
6.1.4 Shuanglong Group Co., Ltd
6.1.5 Bio-Rad Laboratories, Inc.
6.1.6 REMI GROUP
6.1.7 Benchmark Scientific Inc
6.1.9 SARSTEDT AG & Co. KG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.