Middle East & Africa Solvent Evaporation Market
The Middle East & South Africa consists of three major countries, namely United Arab Emirates (UAE), Saudi Arabia, South Africa, and rest of MEA. Rest of MEA is the largest market for solvent evaporation owing to the rising pharmaceutical and biotech industry. Saudi Arabia is also one of the largest markets across the region. In Saudi Arabia, the government plans to spend almost US$13.3 billion (50 billion Riyals) by 2020 on an initiative to promote entertainment, health, sport, and education. This investment helps pharma and biotech companies to support its R&D for innovation medicines. Therefore, the increase in better facilities for health and education are likely to create good opportunities for the solvent evaporation Market. Thus, the market is likely to grow with a good growth rate in the country during the forecast years. The rising an investment in pharmaceutical industries will create the demand of solvent evaporation in the UAE. The public and private funding helps pharma sector to spreads its footprint in Middle east region. As solvent evaporation majorly used in development of drugs, so investment in pharma research boosts the growth of the solvent evaporation market. South Africa is the largest pharmaceutical market in Sub-Saharan Africa region. In South Africa the market for patented drugs is around USD 1.7 billion in 2019. This high market cap for innovator drugs influence the other pharma company to discover, develops and market the innovative drugs in the South African market. This create demand for solvent evaporators used in research and development field. As rising R&D activities is likely to boost the market during the forecast period.
In case of COVID-19, MEA is highly affected especially Turkey followed by South Africa, Iran, and Saudi Arabia. Economic uncertainties and ongoing conflicts are worsening the condition in the region. For instance, countries such as Syria, Libya, and Yemen are suffering violent conflict and cannot implement any public health measures. Iran was in deep economic recession due to the US sanctions. Also, the major source of economic stabilization in Middle East countries is oil production and export. However, the recent pandemic is causing turbulence to the economies of the Middle East region. A sudden drop in domestic and external demand for goods and products, especially crude oil, and halted production due to labor shortage, are major impacts observed in the region. The Saudi government policies are favored of domestic pharmaceutical manufacturers including not any import duties on raw materials & intermediate products and interest-free funding support the growth of the pharmaceutical market in this region. As solvent evaporation majorly used in drug development phase, so there was low impact of covid-19 on the solvent evaporation market.
Strategic insights for the Middle East & Africa Solvent Evaporation provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 28.16 Million |
| Market Size by 2028 | US$ 41.97 Million |
| Global CAGR (2021 - 2028) | 5.9% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Middle East and Africa
|
| Market leaders and key company profiles |
The geographic scope of the Middle East & Africa Solvent Evaporation refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The MEA solvent evaporation market is expected to grow from US$ 28.16 million in 2021 to US$ 41.97 million by 2028; it is estimated to grow at a CAGR of 5.9% from 2021 to 2028. Escalating product launches across the region is expected to fuel the market growth. The introduction of new products for delivering high performance and sample capacities during research activities is bolstering the growth of the MEA solvent evaporation market. New technologies or products are being developed to deliver maximum precision and accuracy as well as to enhance the evaporation process, along with ensuring safety of workforce during the evaporation process. In July 2020, BUCHI Labortechnik AG launched SyncorePlus, a fully automated solution for parallel evaporation, featuring high accuracy and precision, and process safety during the evaporation process. Similarly, in October 2020, another distributor attended the Lab 2020 from Oct 28 to Oct 30, 2020. Many new products were displayed at the exhibition and attracted many users’ inquiries and visits. This helps the company to provide trade opportunity for laboratory equipment industry in the MEA region.
In terms of type, the rotary evaporators segment accounted for the largest share of the MEA solvent evaporation market in 2020. In terms of end user, the pharmaceutical and biopharmaceutical industry segment held a larger market share of the MEA solvent evaporation market in 2020.
A few major primary and secondary sources referred to for preparing this report on the MEA solvent evaporation market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Apricot Designs, Inc.; Biotage AB; Büchi Labortechnik AG; Heidolph Instruments GmbH & CO. KG; IKA Werke GmbH & CO. KG; KNF NEUBERGER, INC.; LabTech S.r.l.; Organomation Associates, Inc.; Porvair plc; SCINCO CO.,LTD.; and Yamato Scientific co., ltd.
The Middle East & Africa Solvent Evaporation Market is valued at US$ 28.16 Million in 2021, it is projected to reach US$ 41.97 Million by 2028.
As per our report Middle East & Africa Solvent Evaporation Market, the market size is valued at US$ 28.16 Million in 2021, projecting it to reach US$ 41.97 Million by 2028. This translates to a CAGR of approximately 5.9% during the forecast period.
The Middle East & Africa Solvent Evaporation Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East & Africa Solvent Evaporation Market report:
The Middle East & Africa Solvent Evaporation Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East & Africa Solvent Evaporation Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East & Africa Solvent Evaporation Market value chain can benefit from the information contained in a comprehensive market report.
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