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Magnetic Stirrer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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    Report

  • 142 Pages
  • September 2023
  • Region: Global
  • IMARC Group
  • ID: 5642420

Quick Summary:

In the dynamic world of laboratory equipments, the global magnetic stirrer market continues to evolve with new developments shaping the industry. The reported growth in the market is fuelled by the reliable, efficient and easy-to-use nature of magnetic stirrers which make them a preferred choice over traditional, gear-driven motorized stirrers. Their compact size adding to the convenience of cleaning and sterilization has further propelled their demand in diverse sectors.

Magnetic stirrer, a trusted device in various chemical, pharmaceutical and medical applications, offers key advantages in terms of boosting sensor response time and facilitating stable readings in fluid mixtures. Its utility in a wide range of applications from dissolving solids to averting matter from settling during titration, makes it an essential lab equipment. This comprehensive report analyzes the prevailing trends and anticipates the future trajectory of this market, offering a robust perspective on segmented supply and demand, and regional outlook.

The global magnetic stirrer market size reached US$ 1.9 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 2.2 Billion by 2028, exhibiting a growth rate (CAGR) of 3% during 2023-2028.

A magnetic stirrer, also known as a magnetic mixer, is a laboratory equipment comprising a rotating magnet or stationary electromagnet that generates a rotating magnetic field to stir fluids and create a homogenous mixture. The process of magnetic stirring helps in boosting sensor response time by allowing the measuring instruments to acquire stable readings. It operates silently and assists in stirring closed systems without the need for isolation. Moreover, owing to its compact size, a magnetic stirrer can be cleaned and sterilized more quickly than conventional devices like stirring rods.

Magnetic stirrers are relatively reliable, easy to use, and aid in meeting the required safety standards. They are preferred over gear-driven motorized stirrers as they are more efficient and have no moving external parts which can break or wear out. As a result, their demand is increasing for various chemical, pharmaceutical, microbiological, biotechnological and medical applications such as dissolving nutrients and solids, growing microorganisms, and averting suspended matter from settling during titration. Further, these stirrers are used in dialysis, extraction, oil analysis, soil suspending, organic synthesis, pH measurement and sample preparation. In recent years, manufacturers have been financing research and development activities to introduce new designs that reduce time and improve work efficiency. Apart from this, an increase in the number of testing and research facilities worldwide is anticipated to catalyze the demand for magnetic stirrers in the upcoming years.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global magnetic stirrer market report, along with forecasts at the global and regional level from 2023-2028. The report has categorized the market based on product type, display type and end-user.

Breakup by Product Type:

  • Regular Magnetic Stirrer
  • Hot-Plate Magnetic Stirrer
  • Multi-Position Magnetic Stirrer

Breakup by Display Type:

  • Digital
  • Analog

Breakup by End-User:

  • Chemical and Pharmaceutical Industry
  • Research Laboratories and Institutes
  • Others

Breakup by Region:

  • North America
  • Asia Pacific
  • Europe
  • Middle East and Africa
  • Latin America

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Corning Incorporated, Grant Instruments (Cambridge) Ltd., IKA Works GmbH & Co. KG, Scientific Industries, Inc., Thermo Fisher Scientific Inc., Cole-Parmer, Azzota Scientific, Dynalab Corp., Hanna Instruments, Heidolph Instruments GmbH & CO. KG, Neu-tec Group Inc., SCILOGEX, LLC, and Troemner, LLC.

Key Questions Answered in This Report:

  • How has the global magnetic stirrer market performed so far and how will it perform in the coming years?
  • What are the key regional markets in the global magnetic stirrer industry?
  • What has been the impact of COVID-19 on the global magnetic stirrer industry?
  • What is the breakup of the market based on the product type?
  • What is the breakup of the market based on the display type?
  • What is the breakup of the market based on the end-user?
  • What are the various stages in the value chain of the global magnetic stirrer industry?
  • What are the key driving factors and challenges in the global magnetic stirrer industry?
  • What is the structure of the global magnetic stirrer industry and who are the key players?
  • What is the degree of competition in the global magnetic stirrer industry?
  • What are the profit margins in the global magnetic stirrer industry?
Frequently Asked Questions about the Global Magnetic Stirrer Market

What is the estimated value of the Global Magnetic Stirrer Market?

The Global Magnetic Stirrer Market was estimated to be valued at $1.9 Billion in 2022.

What is the growth rate of the Global Magnetic Stirrer Market?

The growth rate of the Global Magnetic Stirrer Market is 2.5%, with an estimated value of $2.2 Billion by 2028.

What is the forecasted size of the Global Magnetic Stirrer Market?

The Global Magnetic Stirrer Market is estimated to be worth $2.2 Billion by 2028.

Who are the key companies in the Global Magnetic Stirrer Market?

Key companies in the Global Magnetic Stirrer Market include Corning Incorporated, Grant Instruments (Cambridge) Ltd., IKA Works GmbH & Co. KG, Scientific Industries Inc., Thermo Fisher Scientific Inc., Cole, Parmer, Azzota Scientific, Dynalab Corp. and Hanna Instruments.

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Magnetic Stirrer Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Product Type
5.5 Market Breakup by Display Type
5.6 Market Breakup by End-User
5.7 Market Breakup by Region
5.8 Market Forecast
6 Market Breakup by Product Type
6.1 Regular Magnetic Stirrer
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Hot-Plate Magnetic Stirrer
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Multi-Position Magnetic Stirrer
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Display Type
7.1 Digital
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Analog
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by End-User
8.1 Chemical and Pharmaceutical Industry
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Research Laboratories and Institutes
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Others
8.3.1 Market Trends
8.3.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Asia Pacific
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Europe
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Middle East and Africa
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Latin America
9.5.1 Market Trends
9.5.2 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porter’s Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Corning Incorporated
14.3.2 Grant Instruments (Cambridge) Ltd.
14.3.3 IKA Works GmbH & Co. KG
14.3.4 Scientific Industries, Inc.
14.3.5 Thermo Fisher Scientific Inc.
14.3.6 Cole-Parmer
14.3.7 Azzota Scientific
14.3.8 Dynalab Corp.
14.3.9 Hanna Instruments
14.3.10 Heidolph Instruments GmbH & CO. KG
14.3.11 Neu-tec Group Inc.
14.3.12 SCILOGEX, LLC
14.3.13 Troemner, LLC

Companies Mentioned

  • Corning Incorporated
  • Grant Instruments (Cambridge) Ltd.
  • IKA Works GmbH & Co. KG
  • Scientific Industries Inc.
  • Thermo Fisher Scientific Inc.
  • Cole-Parmer
  • Azzota Scientific
  • Dynalab Corp.
  • Hanna Instruments
  • Heidolph Instruments GmbH & CO. KG
  • Neu-tec Group Inc.
  • SCILOGEX LLC
  • Troemner LLC

Methodology

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