Laboratory Balances and Scales Market is expected to reach US$ 2,131.14 Mn by 2028

Laboratory Balances Segment to Register Higher CAGR During 2021–2028

According to our new research study on “Laboratory Balances and Scales Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and End User,” the market is expected to reach US$ 2,131.14 million by 2028 from US$ 1,463.53 million in 2021; it is estimated to grow at a CAGR of 5.5% from 2021 to 2028. The report highlights trends prevailing in the market, and the factors driving and hindering the market growth. The market growth is primarily attributed to rapid growth of pharmaceutical and biotechnology industry and increasing number of research pipeline of pharma-biotech companies and contract research organizations. However, the limited replacement rate among end users is likely to hamper the growth of the market to a certain extent.

Based on type, the laboratory balances and scales market is bifurcated into laboratory balances and laboratory scales. Laboratory balances segment is further sub-segmented as analytical balances, top loading/precision balances, micro and ultra-micro balances, moisture balances, portable balances, and other balances. Laboratory scale segment is also further sub-segmented as bench scales, counting scales, compact scales, and other scales. In 2020, the laboratory balances segment held the largest share of the market and is expected to register a higher CAGR during the forecast period.

The laboratory balances and scales market is witnessing substantial decline amid the COVID-19 pandemic. Certain factors such as decline in pharmaceutical production and drug discovery activities are hampering the adoption of laboratory balances and scales worldwide. However, research activities associated with the COVID-19 are expected to have marginal positive impact on the market.

METTLER TOLEDO; Sartorius AG; PCE Instruments; OHAUS; Adam Equipment Ltd; GRAM PRECISION; RADWAG Balances and Scales; Scientech Inc.; BONSO Electronics International Inc.; and A&D Company, Limited are among the leading companies operating in the laboratory balances and scales market.

Laboratory Balances and Scales Market, by Region, 2021 (%)

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Laboratory Balances and Scales Market to Grow at a CAGR of 5.5% to reach US$ 2,131.14 Million from 2020 to 2028

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Laboratory Balances and Scales Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Laboratory Balances and Laboratory Scale); End User (Pharmaceutical/Biotechnology Products Testing Laboratories, Cosmeceutical Products Laboratories, Academic Institutes, Research Laboratories), and Geography

The report segments laboratory balances and scales market as follows:

By Type

• Laboratory Balances
  • Analytical Balances
  • Top-Loading/Precision Balances
  • Micro and Ultra-Micro Balances
  • Moisture Balances
  • Portable Balances
  • Other Balances
• Laboratory Scales
  • Bench Scales
  • Counting Scales
  • Compact Scales
  • Other Scales

By End User

• Pharmaceutical/Biotechnology Products Testing Laboratories
• Cosmeceutical Products Laboratories
• Academic Institutes
• Research Laboratories

By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific (APAC)
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of APAC
• Middle East & Africa (MEA)
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA
• South and Central America (SCAM)
  • Brazil
  • Argentina
  • Rest of SCAM