Laboratory Vacuum Pumps Market Summary
As per Market Research Future Analysis, the Laboratory Vacuum Pumps Market was valued at USD 1.51 billion in 2023 and is projected to grow to USD 2.75 billion by 2032, with a CAGR of 6.86% from 2024 to 2032. The growth is driven by increasing laboratory automation and product launches, although high costs may hinder progress. The dry pumps segment leads the market due to regulatory support, while the pharmaceutical and biotechnology industries are the largest end users. The market is characterized by technological advancements and a competitive landscape with key players focusing on R&D and global expansion.
Key Market Trends & Highlights
The Laboratory Vacuum Pumps Market is witnessing significant growth driven by automation and technological advancements.
- Market size in 2023: USD 1.51 billion; projected to reach USD 2.75 billion by 2032.
- CAGR during 2024-2032: 6.86%; driven by demand for advanced vacuum solutions.
- Largest market share in 2023: Pharmaceutical and biotechnology industry.
- Fastest-growing segment: Rotary evaporators during 2024-2032.
Market Size & Forecast
2023 Market Size | USD 1.51 Billion |
2024 Market Size | USD 1.62 Billion |
2032 Market Size | USD 2.75 Billion |
Major Players
ULVAC, Inc. (Japan), Agilent Technologies Inc. (US), Pfeiffer Vacuum GmbH (Germany), Thomas Pumps (Germany), KNF Group (Germany), The Busch Group (Germany), EPME (Germany), Atlas Copco AB (Sweden), Ingersoll Rand (Germany), VACUUBRAND (Germany)