Stability Test Chamber Market - Key Research Findings
- Stability test chamber market size in 2017 – nearly US$ 2.6 Bn
- The stability test chamber market revenue is expected to increase at a CAGR of 5.8% over 2019-2027
- North America and Europe will remain the largest regional markets for stability test chambers
- Rapid growth in the pharmaceutical and food industries is expected to help generate substantial demand for stability test chambers
- Asia Pacific holds maximum growth potential for the stability test chambers market
- The high consumption of packaged foods and preservatives in the recent years can be attributed to the changing habits of the society, which is expected to significantly contribute to the growth of the stability test chambers market.
- Countries such as China and India in particular, owing to their fast-growing economies, are driving the stability test chambers market.
- Humidity and temperature test chambers remain the most preferred stability test chambers in the market
- Accurate testing results and the reliability of various types of stability test chambers, such as thermal shock chambers, vibration testing chambers, and humidity & temperature, has resulted in the dominance of stability test chambers over the other testing chambers available in the market.
Top 3 Factors Shaping the Stability Test Chambers Market
Stringent Regulations Pertaining to Healthcare-related Products Boosting Demand
The inspection of various healthcare-related products as per certain rules and regulations is driving the stability test chambers market. The tests performed on various medicines, such as stability testing, shelf life testing, and expiration date testing, are mandatory in the healthcare industry. The increasing usage of stability test chambers to conduct medicine testing is one of the prime factors fuelling the demand for these test chambers in the market.
Rapid Increase in Adoption of Stability Test Chambers Across Industries
The wide usage of stability test chambers in various industries, such as the chemical industry, construction industry, electronic industry, and pharmaceutical industry, is fueling the demand for stability test chambers. The high adoption rate of stability test chambers in various industries to check various products at different humidity levels and temperatures is accelerating the growth of the stability test chambers market. Moreover, the availability of various types of test chambers, such as walk-in chambers and benchtop chambers, in several regions is considerably boosting the stability test chambers market.
Presence of Key Manufacturers Propelling Growth of Developed Markets
The presence of the major manufacturers of stability test chambers in the North America and Europe regions is one of the important factors that is significantly boosting the stability test chambers market. Increasing expenditure and investments in the pharmaceutical and electronics industries by governments in this region is creating opportunities for manufacturers to capture a significant share of the stability test chambers market. Furthermore, technological advancements in the food & electronics industries and the presence of numerous small players in APEJ region is boosting the demand for stability test chambers in the region.
Stability Test Chambers Market Structure Analysis
- The global stability test chambers market represents a consolidated competition landscape, wherein Tier 1 companies hold a revenue share of more than 45%.
- While most of the key players maintain a strategic focus on the North America and Western Europe markets, the report underscores that technology assessment will be an important developmental strategy for companies.
- The usage of various e-commerce sites by the manufacturers of stability test chambers to provide their products end users across the globe is another factor propelling the stability test chambers market.
- The leading players of the stability test chambers market are also concentrating on providing lightweight testing chambers, whereas cost competitiveness will remain a strong differentiation strategy.
- Some of the manufacturers of test chambers, such as ESPEC CORP. and Thermotron Inc. have been substantially contributing towards the revenue growth of the stability test chambers market.
- The number of international resellers of new and advanced stability test chambers is increasing at a rapid pace.
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.
Based on Equipment Type
- humidity & temperature test chambers
- thermal shock test chambers
- altitude test chambers
Based on Modularity type
Based on End User
- pharmaceutical and biomedical
- food and Beverage
- electronics, construction
- other end use
Based on Region
- North America
- Latin America
- Middle East & Africa (MEA)