Solvent Evaporation Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Solvent Evaporation Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The solvent evaporation market is expected to register a CAGR of 6.5% during the forecast period.

The COVID-19 outbreak has had a significant negative impact on the healthcare business and has badly impacted the entire supply chain. Regarding the market studied, the solvent evaporation technique was used in some instances to understand the drug efficacy for COVID-19. For instance, as per the article published in March 2022 titled, 'Study results in three new co-amorphous drug systems with great anti-COVID-19 potential,' in China, MAR has a long history of use in the treatment of chronic enteritis and hepatitis. MAR was used in COVID-19 therapy at the beginning of 2020 in combination with antiviral drugs such as ritonavir, lopinavir, or abidol. To understand the efficacy of these drugs, co-amorphous systems were developed using the solvent evaporation method. Hence, with such effective uses of solvent evaporation, the market witnessed a positive impact of the COVID-19 pandemic.

The growth of the market is attributed to increasing R&D expenditure, a growing development of large-molecule biopharmaceuticals, and increasing demand for pure samples in the end-use markets. For instance, during the year 2021, major pharmaceutical companies spent a considerable amount on research and development as a result of the rising need for novel therapeutics. Companies such as Pfizer, Roche, Merck & Co., and Johnson and Johnson have spent almost 20% to 25% of their total revenue on R&D. This high spending is contributing to the market growth.

The solvent evaporation technique is widely used in sample preparation across pharmaceutical industries. Thus, the increasing use of this technology, coupled with growing development in the novel drug, is propelling the market. Moreover, the benefits of solvent evaporation techniques compared to other preparation methods, such as sonication and spray drying, are widely used in microencapsulation and floating microspheres. Furthermore, the rising demand to obtain the highest purity in drugs with rising demand for laboratory automation is likely to fuel the solvent evaporation market.

Key Market TrendsRotary Evaporator in Solvent Evaporation Market is Estimated to Witness a Healthy Growth in Future.

A rotary evaporator is estimated to witness healthy growth in the future due to the increasing demand for pure samples in the pharmaceutical and biotechnology industries and its wide application in food technology, environmental engineering, and diagnosing laboratories. These rotary evaporator plays a major role in the efficient extraction of solvent through evaporation which is an important step in developing pure samples in several industries. The increasing R&D expenditures worldwide may also propel the solvent evaporation market due to several benefits associated with this technique. For instance, as per the 2020 report published by India Brand Equity Foundation (IBEF), Indian pharma companies spent around 8.5% of their revenue on research and development during 2020. With high R&D, new technologies in solvent evaporation may evolve which is believed to fuel the market growth.

In the search for novel therapies, rotary evaporation is utilized for synthesis, development, sample preparation, solvent recycling, and scale-up production. The technological advancements in the rotary evaporators are enabling ease of pharma production. For instance, high automation is one of the leading features of rotary evaporators that can offer reliability and convenience in the pharma R&D laboratory. For instance, BUCHI India Pvt. Ltd, a company operating in this business provides a Rotavapor R-300 rotary evaporator which is highly advanced. This evaporator can provide a sample throughput of 4 to 96 samples per batch with sample amounts ranging from 1 to 500 ml per sample.

Hence, with the availability of technologically advanced rotary evaporators and the rising need for the same across the pharma industry, the segment is expected to witness strong growth over the forecast period.

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 solvent evaporation market due to increasing R&D expenditure, rising growth in biosimilars and generics markets, increasing healthcare expenditure, and the presence of a well-established healthcare infrastructure. Moreover, the United States is the largest market for biopharmaceuticals. It is the world leader in biopharmaceuticals R&D. As per the Pharmaceuticals Research and Manufacturers Association (PhRMA), the United States holds the most R&D centers worldwide in the pharmaceutical sector. As per the PhRMA Annual Membership Survey conducted in 2022, the United States spent approximately USD 102 billion during the year 2021 which is 8.7% more than that of the year 2020. Thus, the increasing number of pharmaceutical manufacturers is expected to boost the demand for this technique and further drive the market studied in the North American region.

Some of the key companies operating in the solvent evaporation business across North American countries include Labconco Corporation, Biotage AB, Organomation Associates, Inc., and Raykol, among others. With the high adoption of the technology in the United States and Canada, solvent evaporation equipment is becoming more advanced which is fueling the market growth in the region.

Hence, with the above-mentioned factors, North America is expected to dominate the global solvent evaporation market over the forecast period.

Competitive Landscape

The solvent evaporation market is moderately competitive and consists of several major players. Some of the companies in this market include Biotage, Buchi Labortechnik AG, Heidolph Instruments GmbH & CO. KG, Labconco, Yamato Scientific Co., Porvair PLC, KNF Neuberger Inc., and Steroglass Srl.

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