Solvent Evaporation Market: Increasing R&D Expenditure in Pharmaceuticals Industry
The solvent evaporation market was valued at US$ 470.77 million in 2020 and it is projected to reach US$ 821.41 million by 2028; it is expected to grow at a CAGR of 6.7% during 2021–2028.
Solvent evaporation involves emulsification of polymer in aqueous phase and dispersion in a volatile solvent like dichloromethane, chloroform, and ethyl acetate. Then the solvent is evaporated using high temperature, vacuum, or by continuous stirring. Size of the particles can be controlled by adjusting parameters like manipulating evaporation temperature, controlling the rate of evaporation, manipulating stirring rate, etc. This method is being practiced for the nanoparticles developed using respective polymers such as, PLA, PLGA, PCL, polyhydroxybutyrate, etc. loaded with various drugs like tetanus toxoid, testosterone, loperamide, cyclosporin A, and indomethacin. Solvent evaporators are widely used in processes such as microencapsulation and are required to prepare polymeric nanoparticles for various pharmaceutical formulations. Technological advancements in solvent evaporation systems, such as centrifugal concentration, freeze-drying, and high-power cold traps, have led to enhanced evaporation and improved solvent recovery, with lesser environmental impact.
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Key Findings from The solvent evaporation Market
Based on type, the solvent evaporation market is segmented into rotary evaporators, nitrogen blowdown evaporators, centrifugal evaporators, and spiral air flow evaporators. The rotary evaporators segment held the largest share of the market in 2020.
The rotary evaporator plays a major role in efficient extraction of solvent through evaporation which is an important step in developing pure samples in several industries. The factors such as increasing R&D expenditures and several benefits associated with this technique are propelling the growth of the solvent evaporation market.
Based on end user, the solvent evaporation market is segmented into pharmaceutical and biopharmaceutical industry, diagnostic laboratories, and research and academic institutes. The pharmaceutical and biopharmaceutical industry segment held the largest share of the market in 2020.
However, the research & academic institutes segment is estimated to register the highest CAGR of 7.7% in the market during the forecast period. due to factors such as increasing drug development studies and rising demand for continuous innovation and enhancement of existing products.
Buchi Labortechnik AG; Biotage AB; Labconco Corporation; Heidolph Instruments GmbH & Co. Kg; Yamato Scientific Co., Ltd.; Porvair Plc; IKA Works GmbH and Co. KG; Steroglass SRL; Organomation Associates, Inc.; KNF Neuberger, Inc.; Raykol, Apricot Designs, Inc.; Labtech S.R.L.; Crescent Scientific; and Scinco Co., Ltd. are among the major companies operating in the market.
Increasing R&D Expenditure in Pharmaceuticals Industry
Solvent evaporation active substances are an essential step in the drug discovery process, as it is used in stages such as synthesis, sample preparation, and solvent recycling, as well as in the production scale-up of novel therapeutics. Many pharmaceutical companies invest huge amounts in research and development (R&D) process that mainly revolves around discovering and developing innovative molecules. According to a report published in Statista, the global spending on pharmaceutical R&D totaled US$ ~181 billion in 2018, and it expected to reach US$ 223 billion by 2026. As per the India Brand Equity Foundation, Indian pharmaceutical companies invested ~7.0% of their revenues in the R&D process in 2015 and R&D investment grew by 8.6% in 2019. Thus, increasing R&D expenditure is fueling the growth of the solvent evaporation market.
Various companies operating in the solvent evaporation market use strategies such as product launches, mergers and acquisitions, collaborations, product innovations, and product portfolio expansions to expand their footprint worldwide, maintain the brand name, and meet the growing demand from end users.
Solvent Evaporation Market – by Type
- Rotary Evaporators
- Nitrogen Blowdown Evaporators
- Centrifugal Evaporators
- Spiral Air Flow Evaporators
Solvent Evaporation Market – by End User
- Pharmaceutical and Biopharmaceutical Industry
- Diagnostic Laboratories
- Research and Academic Institutes
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