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How Has The Laboratory Mixer Market Grown In Recent Years?
The laboratory mixer market size has grown considerably in recent times, increasing from $1.69 billion in 2023 to $1.85 billion in 2024, portraying a compound annual growth rate CAGR of 9.7%. This growth during the historical period can be attributed to the expansion of the chemical industry, the increase in food and beverage production, the stringent food safety regulations, the surge in biopharmaceutical production, and the rise in clinical diagnostics.
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What Can We Expect For The Laboratory Mixer Market In The Coming Years?
The laboratory mixer market size is expected to see a significant upward trend in the near future. Projections suggest that the market will grow to $2.58 billion by 2028, marking a compound annual growth rate CAGR of 8.7%. The growth in the forecast period can be associated with green chemistry initiatives, supply chain resilience, the expansion of healthcare diagnostics, global health initiatives, and the rise in telemedicine. In addition, major trends that could drive the market during the forecast period include sustainable mixing solutions, the integration of artificial intelligence AI and automation, the advent of advanced sensors and controls, point-of-care diagnostics, and pharmaceutical innovation.
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What Is Propelling the Growth of the Laboratory Mixer Market?
The increasing prevalence of diseases has a major role to play in the growth of the laboratory mixer market. Rising disease prevalence escalates the need for laboratory diagnostic testing, research, and development activities. A laboratory mixer, which mixes, dissolves, and emulsifies materials, is a staple tool in all laboratories. In 2023, the World Health Organization reported 41 million deaths worldwide due to non-communicable diseases NCDs or chronic conditions, which comprised 74% of the total global fatalities. Consequently, the rising disease prevalence is expected to propel the laboratory mixer market growth in the coming years.
Which Companies Dominate the Laboratory Mixer Market?
The laboratory mixer market is home to several key players including Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., Eppendorf AG, Cole-Parmer Instrument Company LLC, Silverson Machines Inc., Avantor Inc., Corning Incorporated, IKA Works Inc., Remi Elektrotechnik Limited, Heidolph Instruments GmbH & Co. KG, Labstac Ltd., Sainty International Group Co. Ltd., Ratek Instruments Pty Ltd., Nickel-Electro Ltd., Admix Inc., VMI Mixing, Charles Ross & Son Company, Shakti Pharmatech Pvt. Ltd., Buhler Inc., GEA Group Aktiengesellschaft, SPX Flow Inc., Philadelphia Mixing Solutions Ltd., Sulzer Ltd., Chemineer Inc., Mixer Direct Inc., Hayward Gordon Group, Sharpe Mixers Inc., Komax Systems Inc., Mixer Systems Inc., Charles Ross and Son Company.
What Are The Emerging Trends In the Laboratory Mixer Market?
Major companies in the laboratory mixers market are concentrating on introducing convertible mixing devices to maintain a competitive edge in the market. A convertible laboratory mixing device is versatile, blending and homogenizing various substances in scientific and industrial settings and offering adaptability in mixing applications. In 2022, IKA-Werke GmbH & Co, a Germany-based laboratory equipment manufacturer, launched TWISTER, the first convertible mixing device. TWISTER serves as both a single-position and multi-position magnetic stirrer, delivering versatile mixing capabilities. Its high-speed vacuum mixing and dust-repelling design provide efficient and standardized mixing solutions.
How Is The Laboratory Mixer Market Segmented?
The Laboratory mixer market can be grouped based on:
1 By Product: Shakers, Magnetic Stirrers, Vortex Mixers, Conical Mixers, Overhead Stirrers, Accessories
2 By Platform: Digital Devices, Analog Devices
3 By Operability: Gyratory Movement, Linear Movement, Rocking Or Tilting Movement, Orbital Movement
4 By End-User: Research Laboratories And Institutes, Pharmaceutical And Biotechnology Companies, Other End-Users
What Is The Regional Market Landscape For Laboratory Mixers?
In 2023, North America dominated the laboratory mixer market. However, in the forecast period, Asia-Pacific is expected to emerge as the fastest-growing region in the laboratory mixer market. The global market report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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