Hotplate Stirrers have been used widely with uniform and rugged construction to meet rigorous laboratory requirements. The ability of hotplate stirrers in laboratories to control temperature is one of the major factors driving the growth of the hotplate stirrers market. Increased levels of automation and improved energy efficiency are also supporting the rapid demand for hotplate stirrers, which, in turn, is fuelling the growth of the market.
Hotplate stirrers are ubiquitously used in pharmaceutical and biotechnology facilities, industrial shops, medical testing labs, and private & university research labs, and therefore, due to this factor, the hotplate stirrers market is projected to witness robust growth during the forecast period.
A hotplate stirrer is a portable laboratory equipment that integrates a heating component or coil on a platform or board. A hotplate stirrer allows the device to maintain the sample at the required temperature while stirring. The hotplate stirrers market has witnessed considerable traction in the past few years, in terms of value. In addition to this, due to the increasing adoption of hotplate stirrers from mostly every industry vertical, especially across regions where an increasing establishment of laboratories is being witnessed, the hotplate stirrers market is expected to exhibit high growth rate during the forecast period.
Drivers
The growing pharmaceutical industry, coupled with rising collaborations in the chemical industry, is the primary factor driving the growth of the hotplate stirrers market. Moreover, significant investments in the research and development sector of various industries is the primary factor driving the growth of the hotplate stirrers market. Also, the growing demand for laboratory testing services and increasing demand for industrial products are also creating potential growth opportunities for the hotplate stirrers market.
Apart from this, the rising focus on increasing the levels of automation and various improvements in energy efficiency in a majority of lab processes and equipment are also fuelling the growth of the hotplate stirrers market. Moreover, technological advancements in laboratory processes have also led to the increasing adoption of hotplate stirrers, and due to this factor, the hotplate stirrers market is expected to witness high growth rates during the forecast period.
The limited sample volume capacity of hotplate stirrers is one of the major challenges for the growth of the hotplate stirrers market. The high costs associated with hotplate stirrers is also a major factor that is hampering the growth of the market.
Key Players
Prominent players in the global hotplate stirrers market are Thermo Fisher Scientific, Grant Instruments, Agilent, Benchmark Scientific, Citizen Scale, Hanna Instruments, Argos, Neutec Group, Remi Group, Labnet International, and Scilogex.
On the basis of geography, North America is expected to capture the largest market share in terms of revenue in the hotplate stirrers market, owing to a rise in the adoption of hotplate stirrers in various industries, and the presence of various manufacturers in the region. Asia Pacific and Europe are also expected to capture substantial market shares in the global hotplate stirrers market, owing to the presence of many testing laboratories, research facilities, sub-contract laboratories, and pharmaceutical companies in various countries of these regions.
Asia Pacific is also expected to witness a high growth rate in the global hotplate stirrers market, due to the presence of developing economies, a boom in the biopharmaceutical industry, and surge in the number of hospitals and research institutes in the region. The markets in MEA and Latin America are also expected to witness high growth rates, due to significant investments in the research and development sector of various industries of these regions.
The report is a compilation of first-hand information, qualitative, and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
Segmentation on the Basis of Material Type
Segmentation on the Basis of End Use
Hotplate Stirrers Market
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