Lab shaker: Key market research findings
- Increased R&D expenditure
- Innovation of energy efficient lab shakers
Technavio has released a new market research report on the global lab shaker market, which is expected to grow at a CAGR of almost 6% between 2016 and 2020. The primary driver for the growth of the lab shaker market in the increase of investment in research and development (R&D) by vendors and governments. Currently, the Americas dominate the global lab shaker market, accounting for almost 36% of the overall market revenue. Some of the factors responsible for this are the increased investment of pharmaceutical companies in drug discovery and testing, and the relatively higher number of key vendors in this region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Governments are investing in research, particularly in the biomedical sector especially in countries such as Singapore, China, and South Korea. Innovation in terms of technology and design is causing a rapid increase in the sale of lab shakers. The introduction of automated lab shakers that can reduce human interaction is expected to contribute majorly the global lab shaker market during the forecast period,” says Abhay Sinha, Lead Analyst, New Coverage, Technavio Research.
With emphasis on reducing the energy consumption, vendors have developed a more cost-efficient version of the conventional lab shaker. By adding a switch and minimizing functions that run during idle time, manufacturers have managed to cut down the energy usage of lab shakers by almost 80% when not in use. The advent of these energy efficient lab shakers are projected to boost the growth of the global lab shaker market over the next four years.
The key players in the global lab shaker market are Thermo Fisher Scientific, Eppendorf, Benchmark Scientific, IKA-Works, and Union Scientific. The major players dominate the global laboratory shaker market with a considerable market share. They have a strong global presence with support centers spread across the globe. The competition among these players is fierce, which is leading to the introduction of many innovative and advanced solutions in the market.
A more detailed analysis is available on the Technavio report, Global Lab Shaker Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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