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Laboratory Mixer Market by Product and End User - Global Forecast to 2023

[123 Pages Report] The laboratory mixer market is expected to grow from USD 1.1 billion in 2018 to USD 1.4 billion by 2023, at a CAGR of 4.4% during the forecast period. Increasing research activity in the pharmaceutical and biotechnology industries is the major factor driving the growth of this market. However, the high cost of advanced laboratory mixers and long equipment lifespans are expected to restrain the growth of this market during the forecast period.
By product, the magnetic stirrers segment is expected to be the faster growing in the laboratory mixer market during the forecast period.
The magnetic stirrers segment is projected to grow at the highest CAGR between 2018 and 2023. Magnetic stirrers are most commonly used in chemical and biological research laboratories to ensure that liquid samples are homogeneous in consistency and temperature. The growth of this segment can be attributed to the growth in funding for life science research and the increasing number of research laboratories
By end user, the research laboratories and institutes segment is growing at the highest rate.
The research laboratories and institutes segment is projected to grow at the highest rate in the market, by end user. Life sciences form the largest application of academic research, accounting for more than 56% of all academic R&D funding. The availability of funding for life science research from government and non-profit organizations is expected to drive the demand and adoption of life science instruments and general laboratory equipment, including laboratory mixers and shakers, in research laboratories and institutes.
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