A recent research study by Fact.MR finds that the microreactor sales reached 294 thousand units in 2018 and are projected to grow at a Y-O-Y of nearly 9% in 2019. Increasing competition among manufacturing companies in order to develop finer products remains a key aspect spurring the demand for microreactor technology. The ability of microreactor technology to facilitate effective and efficient drug synthesis is one of the key factors responsible for its rising adoption in the pharmaceutical industry.
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Microreactor Technology Market- Segmentation
The microreactor technology market report has been segmented on the basis of product type, by mixing, by phase type, by usability, by material type, and by application. By product type, the microreactor technology market has been segmented into T-reactor and falling film micro reactor. By mixing, the microreactor technology market has been segmented into round bottom flask micro reactor, jacketed microreactor, and asia microreactor.
By material type, the microreactor technology market has been segmented into metal and metal alloys, ceramic, glass, quartz, plastic, and silicon. By phase type, the microreactor technology market has been segmented into liquid phase microreactor and gas phase microreactor. By usability, the microreactor technology market has been segmented into disposable and reusable. The end user segments in the microreactor technology market include specialty chemicals, pharmaceuticals, commodity chemicals, and research laboratories.
A comprehensive estimate of the Microreactor Technology market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the Sales of Microreactor Technology during the forecast period. Price point comparison by region with the global average price is also considered in the study.
The analysts have used numerous industry-wide prominent business intelligence tools to consolidate facts, figures, and market data into revenue estimations and projections in the Market Insights of Microreactor Technology.
Significant Benefits over Batch Processing to Foster Popularity
Microreactor technology is becoming highly appealing to the production departments in the pharmaceutical industry, followed by specialty chemicals. Benefits of continuous-flow processes over batch chemistry remain instrumental in heightened adoption of microreactor technology in both pharmaceutical and specialty chemicals landscape, translating into the fast-paced synthesis of organic compounds amidst hazardous conditions with minimized waste. Moreover, the adoption of microreactor technology also offers additional benefits in terms of capital investment and operating expenses with a notable reduction of the ‘time-to-market aspect, which is bolstering its adoption across diverse end-user industry verticals.
According to the report, the microreactor technology market remains consolidated at the bottom, with the tier 3 or emerging players holding a considerable revenue share. Specific product segments and augmentation of volume sales remain two of the key focal points of these emerging players.
Fact.MR’s report offers actionable intelligence with a comprehensive opportunity assessment of the microreactor technology market. The report finds that the microreactor technology market is likely to grow at a volume CAGR of around 8% through 2028.