Future Market Insights has announced the addition of the “Orbital Shakers Market: Global Industry Analysis and Opportunity Assessment, 2018-2027"report to their offering
Valley Cottage, NY -- (SBWIRE) -- 06/28/2019 -- The approximately US$ 572 million orbital shakers market is likely to demonstrate just-under 7% year on year expansion in 2019. As indicated by a recent market research report published by Future Market Insights, the demand for orbital shakers will remain on a healthy growth trajectory over the next few years.
"With the flourishing laboratory automation industry, the sales of advanced technology laboratory systems are on a constant rise. The subsequently growing demand for orbital shakers is thus pushing the revenue prospects for orbital shakers in recent years. Significantly growing adoption of next-generation laboratory equipment, especially across developing regional markets, is predominantly driving the growth of orbital shakers market," explains a senior market research analyst at the company.
However, longer lifespan of orbital shakers, i.e. up to 10 years will remain the longstanding barrier to frequent adoption of orbital shakers, mentions the report.
Widening Research Expanse Propels Application-specific NPD
Healthcare, medicine, and life sciences industries are increasingly creating a positive outlook for R&D, which is translating into healthy revenue growth prospects for laboratory equipment such as orbital shakers or laboratory shakers. Besides lab and clinical research centers, orbital shakers find wide applicability in the industrial sector, reports FMI research.
The application-specific demand for orbital shakers has been pushing product innovations based on the desired load, weight capacity, orbital range, and speed. Research laboratories are thus exploring the available alternatives in orbital shakers for an appropriate lab environment, creating attractive revenue generation opportunities for orbital shakers manufacturers.
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Automatic Orbital Shakers Remain Highly Favored for R&D
The global sales of automatic orbital shakers are projected to exceed the valuation of US$ 435 million in 2019, of which more than 1/4th is estimated to be contributed by North America. The orbital shakers market in North America is forecast to remain the top consuming region and is anticipated at the highest yearly growth at around 8% in 2019. The FMI report concludes that the ability of automatically operated orbital shakers to adjust the shaking speed according to the load continues to attract maximum sales potential.
Researchers Fuel Sales of Experimental Equipment
Moreover, the report projects global revenue of experimental equipment to be more than US$ 255 million, towards the end of 2019. Dramatically increasing number of research laboratories and lab experimental activities continues to be the key driving force behind the escalating sales of high-speed orbital shakers. The widening application base is likely to create strong growth prospects for orbital shakers market at a global level.
Thermo Fisher Scientific Remains Global Leader
Thermo Fisher Scientific, the leading player in orbital shakers landscape, currently accounts for more than 14% share of the global market revenue.
Focusing on firming up the global footprint, the company is augmenting investments in R&D directed to new product launches for an extended and diverse offering portfolio.
Thermo Fisher has already invested around 4% of its annual revenue in R&D activities, as indicated by the report.
The company is currently strategizing collaborations and acquisitions, the latest of which include the deals with Patheon N.V., Phenom-World, and IntegenX Inc.
Benchmark Scientific has been innovating its range of mini orbital shakers, and thermal and incubation shakers. Eppendorf Inc. on the other hand offers the widest range of premium range, high-performance orbital shakers.
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IKA-Works, another active competitor in the orbital shakers landscape, provides a selection of orbital shakers with a large LED display and the PID temperature control that allow the regulation of speed and time of shakers.
The report indicates that a large number of manufacturers of orbital shakers are focusing on developing advanced products with incubation, display integration, RPM specificity, and temperature regulators. Launching such products is likely to enable companies to tap into new application areas and thereby penetrate into new markets.