The instrument calibrator market size is projected to reach US$ 2.22 billion by 2031 from US$ 1.32 billion in 2023. The market is expected to register a CAGR of 6.8% during 2023–2031. Increasing demand from the pharmaceutical industry and technological advancement and affordability of callibrators are likely to remain key trends and drivers in the market.
The demand for the instrument calibrator market is anticipated to grow with the increasing demand from the pharmaceutical, aerospace and defence industry is fueling the instrument calibrator market. Additionally, various government regulations, technological advancements and instrument calibration are anticipated to drive the market in the coming years.
Instrument calibration is an important part of any measurement system, it ensures that the instruments are operating properly and providing precise readings. It is the process of comparison between the readings on an instrument to those given by a reference instrument or calibrator. Calibration helps to ensure reliability, accuracy, safety, and compliance with industry standards.
Instrument calibration is a critical GMP activity in the pharmaceutical industry. It ensures accurate measurements of critical instruments and helps maintain product quality and safety. This process involves comparing instruments against known standards to verify accuracy within specified tolerances. Pharmaceutical plants are enable to function without calibration. However, observing the stringent EMEA/FDA regulations and ISO standards, not to mention the enormous quantity of instruments requiring regular calibration, can be a costly and time-consuming process. Large amounts of calibration data are produced and archived, which must be conveniently accessible, particularly in the event of an audit. This creates a huge demand for instrument calibration, which further fuels market growth.
Technological advancements in the calibration process hold immense opportunities. As the demand for the automates software for improved process accuracy and efficiency. Calibration automation software can be used to convert manual processes and procedures into low-touch or even no-touch tasks. Also, artificial Intelligence for deep learning and intelligent calibration is gaining traction. New applications of these tools are being identified daily, and calibration is one of many sectors benefitting from this technology boom. Thus, owing to the above parameters, technological advancement in the calibration process is anticipated to fuel the market growth in coming years.
Key segments that contributed to the derivation of the instrument calibrator market analysis are product type, modularity, and industry vertical.
The geographic scope of the instrument calibrator market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the market. North America comprises countries such as the US, Canada, and Mexico. The region is experiencing substantial growth owing to factors such as the availability of tabletop and portable instrument calibrators in developed and developing economies. Additionally, the high use of portable calibrators owing to their user-friendly interface and affordable prices is increasing their demand globally. Moreover, the focus on research and development is increasing the technological advancement in the region. Also, the region has a large number of key manufacturers in the market. Thus, due to all these parameters, the market is gaining traction in North America.
The regional trends and factors influencing the Instrument Calibrator Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Instrument Calibrator Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 1.32 Billion |
| Market Size by 2031 | US$ 2.22 Billion |
| Global CAGR (2023 - 2031) | 6.8% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Instrument Calibrator Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Instrument Calibrator Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The instrument calibrator market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the instrument calibrator market are listed below:
The “Instrument Calibrator Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
North America is anticipated to dominate the instrument calibrator market in 2023.
Increasing demand from the pharmaceutical industry and technological advancement and affordability of callibrators are likely to remain key trends and drivers in the market.
The development in instrument service is anticipated to drive the market in the forecast period.
The key players holding majority shares in the global instrument calibrator market are AMETEK Inc., Baker Hughes Company, Extech Instruments, Fluke Corporation, Yokogawa Electric Corporation, and WIKAAlexander Wiegand SE & co. KG, Additel, Beamex Oy Ab, Calmet, Spectris.
The global instrument calibrator market is expected to reach US$ 2.22 billion by 2031.
The expected CAGR of the instrument calibrator market is 6.8%.