Global Laboratory Vacuum Pump Market: Snapshot
For a number of industries including pharmaceutical, chemical, and biotechnology, vacuum pumps are equipment of high laboratorial-importance as they are used to maintain pressure and achieve filtration in various application. On the back of increased research and development activities by vendors of diverse industries to gain greater shares, the demand in the global laboratory vacuum pump market is projected to expand at a CAGR of 4.8% during the forecast period of 2017 to 2025. The analysts of this report have estimated that the stockholders connected to the value chain of the global laboratory vacuum pump market will be able to share from an opportunity worth US$1,165.2 by the end of 2025. This is substantial increment to the evaluated valuation of the market at US$1,686.9 mn in 2017. In terms of volume, it has been estimated that more than 4.5 million laboratory vacuum pumps would be required across the world, which will ensure a prosperous foreseeable future for the global vacuum pump market.
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Advancements in the technology to achieve desired vacuum via modern pumps, in a sealed and cost-efficient manner, is another key driver of the laboratory vacuum pump market. Players of this market have been consistently introducing products that are a progression over the former equipment and gaining greater shares. On the other hand, strict government regulations, particularly in the healthcare segment, and fluctuations in the cost of raw materials are a few restraints over the market for laboratory vacuum pumps.
Rotary Vane Vacuum Pumps Segment Projected for Faster Growth Rate
On the basis of product type, the laboratory vacuum pumps market has been segmented into dry vacuum pumps and rotary vane vacuum pumps. Rotary vane vacuum pump are mechanical vacuum pump that operates through a rotary positive displacement. The pumping system consist of a vane that moves rapidly between an inlet and outlet, a housing, and an eccentrically installed rotor. As compared to rotary vane vacuum pump, dry vacuum pump requires less maintenance, medium or variable vacuum range. Moreover, dry vacuum pump are Oil-less pumps and dry running pump. All these factors makes dry vacuum pump attractive in the current market. On the other hand, the rotary vane vacuum pumps segment is anticipated to expand at a relatively faster CAGR of 5.1% than the dry vacuum pumps segment. This is owing to its high level of displacement capacity and ability to function with lesser technicalities. As demand for technological innovation, scientific instrumentation and advancement in vacuum pumping technology in laboratory sector and process industry sector is driving the rotary vane vacuum pumps segment across the world.
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North America Dominates Demand, both in terms of Value and Volume
As of 2017, North America was the most lucrative region in the global laboratory vacuum pump market and is anticipated to remain so until 2025 too, when the region is estimated to provide for a demand worth of US$1,165.2 mn. There are various factors driving the North America laboratory vacuum pumps market such as increasing number of process industries and technological innovations in scientific instrumentation. The local vendors are more focused on increasing the partnership with international service providers, which enables them in gaining advanced technologies. However, rapid industrialization in the emerging economies of China and India are primed to transform Asia Pacific into highly profitable region towards the end of the forecast period. The Asia Pacific laboratory vacuum pump market is estimated to be worth US$434.7 mn by the end of 2025, with the demand expanding at an above-average CAGR of 5.3% during the forecast period of the report.
Atlas Copco AB, Welch Vacuum – Gardner Denver, ULVAC, Inc, Oerlikon Leybold Vacuum GmbH, EBARA Corporations, Wenling Tingwei Vacuum Equipment Co, Edwards Limited, KNF Group, Pfeiffer Vacuum, Tuthill Corporation, Graham Corporation, Dekker Vacuum Technologies, Inc., and Sterling SIHI GmbH are some of the key players in the global laboratory vacuum pump market.
Laboratory Vacuum Pumps Market to Observe Growth in Increased R&D in Pharmaceutical Field
Over the course of the research, technological advances in laboratory vacuum pumps are likely to increase demand in the global laboratory vacuum pumps market in the near future. Manufacturers are using cutting-edge technology to create specialized devices that can run seamlessly during procedures. Laboratory vacuum pumps that are technologically advanced deliver optimal void, which is expected to improve workflow. Furthermore, they have a sophisticated lubrication system, high performance, emit less heat, produce low operating noise, and resulting in low energy consumption. Laboratory vacuum pumps have the above benefits, which is likely to foster development of the global laboratory vacuum pumps market in the years to come.
In the coming years, the growing use of laboratory vacuum pumps in the pharmaceutical and biotech sectors, as well as in R&D institutes, is likely to drive up demand. Good production processes are practiced in the pharmaceutical industry to manufacture high-quality drugs. As a consequence, concentration processes, solvent extraction, dehydration, vacuum filtration, and distillation are all performed with them. Thanks to their high reliability and usefulness, industries are likely to make use of laboratory vacuum pumps. The high cost of this machinery, on the other hand, is likely to limit demand development to some degree.
Pressure on Conforming to Set Pharmaceutical Regulations to Work in Favor of the Market
Validation of cleaning is needed for approval from FDA, and there are risks involved with cross-contamination with extremely sensitive API (active pharmaceutical ingredients), so pharmaceutical firms are likely to see substantial growth in the years to come. Regulatory agencies issue notices to various pharmaceutical firms if they fail to follow the defined control measures. Pharmaceutical companies will be forced to make use of laboratory vacuum pumps as a result of the strict regulatory environment, which is likely to have a direct positive effect the growth of the global laboratory vacuum pumps market in the years to come.
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