Hot Plate Stirrer Market Size, Share, Growth, and Industry Analysis, By Type (Constant Temperature, Non-Constant Temperature, and others), By Application Pharmaceutical and Chemical Academic Research, Clinical Biology and Others), Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

Hot Plate Stirrer Market REPORT OVERVIEW

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The global hot plate stirrer market size was USD 1012.2 million in 2022 and market is projected to touch USD 1606.47 million by 2031, exhibiting a CAGR of 5.3% during the forecasting period 2022 to 2031.

A hot plate stirrer is a type of transportable equipment that functions similarly to ordinary magnetic stirrers but incorporates a heating element or coil on the platform or board. The sample can be kept at the necessary temperature while being it stirred mainly to this feature of the apparatus. To satisfy the rigorous laboratory requirements, this equipment has a homogeneous heating system and sturdy construction.

The hot plate stirrer market Growth of e commerce's around the world is one of the main drivers of this business. Customers now have an easier time browsing and making purchases from a large selection of laboratory-related products that are available online and are sold by numerous manufacturers because of the increasing popularity of e-commerce. This enables manufacturers to increase brand recognition and brand loyalty while also making it easy for buyers to compare the configurations of laboratory gadgets of the market from various brands. Additionally, e-commerce has made it possible for manufacturers to serve Hot plate stirrer market to the new nations while yet maintaining a basic distribution network.

COVID-19 Impact: Slow Down In Supply Chain Led To Market’s Decline

Pandemic outrage has been used to rigorously assess the condition of the industry, and precise estimates have also been generated to support future growth projections.

Since the COVID-19 viral outbreak in December 2019, the illness slow has spread to practically every country in the world, prompting the World Health Organization to declare it a public health emergency. In 2020, the global effects of the coronavirus illness 2019 (COVID-19) will have a substantial impact on the Hot plate stirrer market. Flight cancellations, travel bans, and quarantines, restaurant closures, restrictions on all indoor and outdoor events, the declaration of states of emergency in over some countries, a significant slowdown in the supply chain, stock market volatility, a decline in business confidence, rising public panic, and uncertainty about the future are just a few of the effects of the COVID-19 outbreak.

LATEST TRENDS

"Decrease the time and increase the work efficiency to Boost the Market Growth"

Hot  stirrer plate helps to meet the necessary safety standards and are comparatively dependable and simple to use. Since hot stirrer plate market are more effective and don't have any moving external elements that could wear out or break, they are preferable over gear-driven powered stirrers. As a result, Hot stirrer plate use is becoming more and more popular in a wide range of chemical, pharmaceutical, microbiological, biotechnological, and medical applications, including the dissolution of nutrients and solids, the growth of micro-organisms, and the prevention of suspended matter from settling during titration. Furthermore, hot stirrer plate market is employed in the processing of samples as well as in extraction, oil analysis, soil suspension, organic synthesis, pH testing, and dialysis. Manufacturers have been funding R&D initiatives in recent years to bring new designs that decrease time and increase work efficiency.

In addition, hot plate stirrer market is projected a large growth in the number of testing and research facilities would boost the demand for magnetic stirrers and the hot plate stirrer in the coming years.

RESTRAINING FACTORS

" High maintenance cost hampers the market "

One of the main obstacles preventing the hot plate stirrer market for hotplate stirrers from expanding is the limited sample volume capacity of these devices. A significant obstacle to the market's expansion is the expensive cost of hotplate stirrers.

Hot Plate Stirrer Market SEGMENTATION

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• By Type

Constant temperature type and non-constant temperature type, and others

• By Application

Based on application; the market is divided into Pharmaceutical and Chemical Sector, Academic Research, Clinical Biology, and others

In terms of application, pharmaceutical and chemical sector is the largest segment.

DRIVING FACTORS

"Growing Demand for laboratory testing services and increasing demand for industrial product "

The main factors propelling the growth of the market are the expanding pharmaceutical sector and expanding chemical industry collaborations. A major factor propelling the expansion of the hot stirrer plate market is the huge expenditures made in the research and development division of numerous organisations. Additionally, the market for hot stirrer plate may experience expansion due to the rising need for industrial goods as well as laboratory testing services.

"Increasing Demand Enhancing the Market Growth"

In addition to this, the market for hot stirrer plate is expanding due to the growing emphasis on improving the levels of automation and other advancements in energy efficiency in most lab procedures and equipment. In addition, technical developments in laboratory procedures have increased the use of hot plate stirrers. The market is anticipated to rise rapidly over the next years.

Hot Plate Stirrer Market REGIONAL INSIGHTS

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Due to an increase in the use of the item across a range of sectors and the presence of numerous manufacturers in the region, North America is anticipated to hold the biggest hot stirrer plate market share in terms of revenue in the hotplate stirrers’ market. Due to the abundance of testing laboratories, research facilities, sub-contract laboratories, and pharmaceutical firms.

In addition to the presence of rising economies, a boom in the biopharmaceutical industry, and an increase in the number of hospitals and research institutes in the region, Due to large expenditures made in the research & development division of numerous businesses in the North America is anticipated that the markets would also experience high growth rates in upcoming years.

KEY INDUSTRY PLAYERS

The research provides a full overview of the analysis of the major surface tensiometer industry aspects, including sales value, sales volume, market revenue, and demand size, as well as sales growth, pricing analysis, and changing regional market growth factors. The market participants and their respective positions within the industry are discussed in the report. Data is being collected and made available through proper research, mergers, technical advancement, growing production facilities, and cooperation. The study on materials contains information on producers, locations, types, applications, sales channels, and distributors.

List of Market Players Profiled

• Corning (U.S.)
• Grant Instruments (U.K.)
• IKA Works (North Carolina).
• Thermo Fisher Scientific (U.S.)
• Benchmark Scientific (U.S.)
• Heidolph Instruments (Germany)
• Neutec Group (U.S.)
• REMI GROUP (India)
• Scilogex (Connecticut)
• Labnet International (U.S.)
• Troemner (U.S.)
• VWR (U.S.)

REPORT COVERAGE

The report helps in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns and so on. Includes a chapter on the impact of covid-19 pandemic on the market. The data is further compiled & validated through various market estimation & data validation methodologies. The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The report also provides information about the top-winning strategies implemented by industry players.