Enjoy complimentary customisation on priority with our Enterprise License!
The global hot plate stirrer market size is estimated to grow by USD 437.42 million at a CAGR of 6.37% between 2023 and 2028.
The growing popularity of e-commerce is making it easier for customers to browse and purchase from a wide range of laboratory-related products available online and sold by several manufacturers. The rapid growth of the e-commerce industry over the past couple of years has led to new opportunities for laboratory equipment manufacturers in supply and expansion. Furthermore, the rapid penetration of e-commerce will enable the market players to offer a broad range of hot plate stirrer solutions to reach new customers, thereby expanding the potential customer base for these products. Thus, such factors are expected to drive the growth of the market during the forecast period.
Technavio has segmented the market into Material, End-user, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Besides analyzing the current market scenario, our report examines historical data from 2018-2022.
To learn more about this report, Download Report Sample
The market share growth by the ceramic segment will be significant during the forecast period. An increase in the demand for ceramic hot plates has significantly increased the heat supply within laboratories and healthcare facilities, which has benefitted manufacturers of this sector. Manufacturers focus primarily on meeting the requirements of researchers, scientists, and students by providing them with high-quality products at affordable prices.
Get a glance at the market contribution of various segments Download PDF Sample
The ceramic segment was valued at USD 724.27 million in 2018. The advantages of using ceramic hot plates include heating up quickly and offering higher temperatures of up to around 450 degrees C. Moreover, ceramic plates have poor temperature uniformity over the plate surface, and they also have cool edges. Therefore, such factors are expected to fuel the growth of the ceramic hot plate segment, which, in turn, will drive the growth of the global hot plate stirrer market during the forecast period.
Hot plate stirrers are used in testing (hot plate stirrer helps as external lab equipment to heat and stir samples mentioned) and stirring of sterile solutions, vials, ampoules, IV fluids, and aerosols in pharmaceutical industries. The pharmaceutical industry is witnessing massive growth across the world, driven by the rising number of chronic diseases and conditions such as cancer and other lifestyle diseases. Hot plate stirrers find wide applications in biopharmaceutical areas, including testing and experimenting with human insulin, serums, plasma fractions, bacteria, and cell cultures. There is a constant demand for advanced diagnostics, drug discovery, and surgeries in the pharmaceutical industry. Hence, such factors are expected to drive the growth of the market in the pharmaceutical and chemical segment during the forecast period.
An increase in the number of academic research laboratories engaging in experiments has resulted in high sales of hot plate stirrers across the globe, as these are basic requirements for practical science demonstration and experimentation in laboratories. Furthermore, with the growth of the clinical biology sector, the demand for magnetic stirrers is bound to rise, which, in turn, will drive the growth of the academic research and clinical biology segment, thereby driving the growth of the market during the forecast period.
For more insights about the market share of various regions Download PDF Sample now!
North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers will shape the market during the forecast period. The growth of the market in North America is primarily due to the presence of many testing laboratories, research facilities, sub-contract laboratories, and pharmaceutical companies in this region. North America is also a home for several major market players, such as Thermo Fisher Scientific Inc. (Thermo Fisher Scientific) and Grant Instruments (Cambridge) Ltd., which makes the availability of these solutions easy at a much lower cost. Some of the market players operating in the region are also focusing on expanding their product portfolios by launching new variants of hot plate stirrers. The launch of new products with added features can influence market growth in North America during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
AHN Biotechnologie GmbH: The company offers hot plate stirrer named AHN myLab Hot Plate Stirrer which is available in 3 options, as 5, 10 and 15 place Magnetic Stirrer Hot Plate.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges.
The growth of primary end-users is the key factor driving market growth. There have been several end-users over the years who have adopted hot plate stirrers for wide-ranging industrial applications, including organic synthesis, extraction, pH measurements, analysis of oil products, dialysis, soil suspending, and preparing buffer solutions. The primary end-users of hot plate stirrers, such as the chemical sector, protein purification and isolation, and clinical biology, are expected to exhibit rapid growth over the next few years with an increase in research, experimentation, and testing-related activities. \
Moreover, among the end-users, molecular biology is the fastest-growing user, which is expected to grow rapidly during the forecast period, followed by clinical biology and cell culture. The rapid growth of the primary end-users will ultimately lead to a rise in consumption and demand, which, in turn, will drive the growth of the global hot plate stirrer market during the forecast period.
Gaining prominence of magnetic stirrer solutions in the biomedical sector is the primary trend shaping market growth. The biomedical sector has increasingly adopted and applied magnetics stirrer solutions, including hot plate stirrer solutions, due to the benefits in terms of their features. The rapid growth of the biomedical sector in Asia is likely to boost the adoption of magnetic stirrers, such as hot plate stirrers, as they find high applicability in this field for testing and experimentation purposes of a wide range of samples.
Furthermore, with the growing initiatives related to biomedical research, there is a high prospect for related activities that use magnetic stirrer solutions, including hot plate stirrer solutions, in the coming years. This may increase the adoption rates for hot plate stirrer devices and accessories. Hence, such factors are expected to fuel the growth of the global hot plate stirrer market during the forecast period.
Limited sample volume capacity is a challenge that affects market growth. Magnetic stirrers such as hot plate stirrers use an electromagnetic motor under the platform to rotate a suspended inert magnet that is placed in the flask or beaker. These cannot be used for sample volumes of more than a few liters, which creates weight and size limitations in using an electromagnet and magnetic bars. This limits their application in different areas.
Furthermore, apart from high-volume applications, magnetic stirrers, including hot plate stirrers, cannot be used for samples in vials or test tubes due to the relatively large size of the stirrer bar. As a result of the size-related issues of hot plate stirrers, there is a narrow adoption of these solutions in certain applications. Thus, such factors are expected to impede the growth of the market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Hot Plate Stirrer Market Customer Landscape
The hot plate stirrer market report forecasts market growth by revenue at global, regional & country levels and analyzes the latest trends and growth opportunities from 2018 to 2028.
Hot Plate Stirrer Market Scope |
|
Report Coverage |
Details |
Page number |
162 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.37% |
Market Growth 2024-2028 |
USD 437.42 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.23 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 39% |
Key countries |
US, Canada, UK, Germany, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abdos Labtech Pvt. Ltd., AHN Biotechnologie GmbH, Benchmark Scientific Inc., Biosan, Camlab Ltd., Cole Parmer Instrument Co. LLC, Corning Inc., DLAB Scientific Inc., Electron Microscopy Sciences, Genei Laboratories Pvt. Ltd., Heidolph Instruments GmbH and CO. KG, Holmarc Opto Mechatronics Ltd., IKA Werke GmbH and CO. KG, Merck KGaA, Neuation Technologies Pvt. Ltd., OHAUS Corp., Thermo Fisher Scientific Inc., VELP Scientifica Srl, VWR International LLC, Falc Instruments Srl, and Grant Instruments Cambridge Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Download Sample PDF at your Fingertips
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Material
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.