Market Size of Laboratory Mixer Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Laboratory Mixer Market Analysis
The laboratory mixer market is expected to register a CAGR of 4% during the forecast period.
The laboratory mixers market experienced a significant impact of COVID-19 on market growth due to a decline in product demand from significant end users, limited operation of most industries, insufficient funding for research and academic institutes, temporary closure of major educational institutes, disruption of the supply chain, and difficulties providing essential/postsales services due to lockdowns. This severely impacted the market in the initial phases of the pandemic. However, with resumed services and research, the market has bounced back to pre-pandemic levels of growth.
Laboratory mixers are in high demand due to increasing research activity in the pharmaceutical and biotechnology industries, technological advancements, and the increasing prevalence of diseases. Laboratory mixers are important instruments used in several industries, such as pharmaceutical and biotechnology, for mixing samples in a homogenous way. Benefits associated with laboratory mixers in terms of time, flexibility, efficiency, and safety are contributing to the high demand and adoption in laboratories.
The increasing prevalence of cancer and other chronic diseases is driving the growth of the market. According to the WHO, cancer is the second leading cause of death across the world, and it was responsible for an estimated 10 million deaths in 2020. The same resource stated that about 70% of cancer deaths occur in low- and middle-income countries.
Moreover, the burden of cancer differs by region. The National Cancer Institute reported in January 2021 that almost half of all cancer cases were reported in Asia. Furthermore, in Europe, one-quarter of the population was suffering from cancer and in the Americas, 21% of the population was suffering from cancer. Diseases, such as cancer and cardiovascular diseases, account for the vast majority of health spending. Most pharmaceutical and biotechnology companies have focused on R&D activities for the development of novel therapeutics. Hence, the rising burden of diseases is further boosting the high demand for these laboratory instruments as these are essential equipment used for sample mixing in research laboratories and hospitals.
However, the high cost and long life span associated with a laboratory mixer may hamper the market.
