Laboratory Balances and Scales Market to Grow at a CAGR of 5.5% to reach US$ 2,131.14 Million from 2020 to 2028
The laboratory balances and scales market is expected to reach US$ 2,131.14 million in 2028 from US$ 1,463.53 million in 2021. The market is estimated to grow with a CAGR of 5.5% from 2021-2028.
The scope of the Laboratory Balances and Scales market includes type, end-user, and region. The market for laboratory balances and scales, based on region, is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America. The report offers insights and in-depth analysis of the laboratory balances and scales market emphasizing on various parameters such as market trends, technological advancements, market dynamics, and competitive landscape analysis of leading market players across the world. It also includes COVID–19 impact analysis across all the regions.
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Laboratory Balances and Scales Market: Strategic Insights
Laboratory Balances and Scales Market
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CAGR (2021 - 2028)
5.5%
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Market Size 2021
US$ 1.46 Billion
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Market Size 2028
US$ 2.13 Billion
Market Dynamics
GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players
- METTLER TOLEDO
- Sartorius AG
- PCE Instruments
- OHAUS
- Adam Equipment Ltd
- GRAM PRECISION
- RADWAG Balances and Scales
- Scientech Inc
- BONSO Electronics International Inc
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Type
- Laboratory Balances and Laboratory Scale
End User
- Pharmaceutical/Biotechnology Products Testing Laboratories
- Cosmeceutical Products Laboratories
- Academic Institutes
- Research Laboratories
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Laboratory Balances and Scales Market: Strategic Insights
-
CAGR (2021 - 2028)5.5% -
Market Size 2021
US$ 1.46 Billion -
Market Size 2028
US$ 2.13 Billion
Market Dynamics
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- XXXXXXX
- XXXXXXX
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Key Players
- METTLER TOLEDO
- Sartorius AG
- PCE Instruments
- OHAUS
- Adam Equipment Ltd
- GRAM PRECISION
- RADWAG Balances and Scales
- Scientech Inc
- BONSO Electronics International Inc
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- Laboratory Balances and Laboratory Scale
- Pharmaceutical/Biotechnology Products Testing Laboratories
- Cosmeceutical Products Laboratories
- Academic Institutes
- Research Laboratories
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Increase in Number of Research Pipelines of Pharma-Biotech Companies and Contract Research Organizations
Healthcare infrastructure is witnessing extensive growth in the number of clinical trials and research pipeline across the world. Clinical trial is a crucial and significant step to evaluate the safety and effectiveness of a medical strategy, treatment, or device for commercial usage. These studies also help understand and determine the best medical approaches for a particular therapeutic area. Clinical trials are conducted primarily to collect data regarding the safety and efficacy of a new drug and device development. Before the approval of drug molecules or medical devices by the regulatory authorities, a series of clinical studies are conducted.
Number of Registered Studies for Clinical Trials
Year First Posted | Studies at Start of Year | Studies During Year | Studies at End of Year |
2015 | 181,304 | 24,130 | 205,434 |
2016 | 205,434 | 27,809 | 233,243 |
2017 | 233,243 | 29,198 | 262,441 |
2018 | 262,441 | 17,836 | 280,277 |
2019 | 293,275 | 32,519 | 325,794 |
2020 | 325,794 | 36,740 | 362,534 |
Source: Clinical Trials.gov and The Insight Partners Analysis
Hence, the increasing number of clinical trials accelerates the demand for laboratory instruments and equipment, which will ultimately drive the laboratory scales and balances market during the forecast period.
Type-Based Insights
The Laboratory Balances and Scales market, by type, is segmented into laboratory balances and laboratory scale. 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. The laboratory balances segment held the largest share of the market in 2021, whereas the same segment is anticipated to register the highest CAGR of 5.8% in the market during the forecast period.
Laboratory Balances and Scales Market Report Scope
Report Attribute | Details |
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Market size in 2021 | US$ 1.46 Billion |
Market Size by 2028 | US$ 2.13 Billion |
Global CAGR (2021 - 2028) | 5.5% |
Historical Data | 2019-2020 |
Forecast period | 2022-2028 |
Segments Covered |
By Type
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Regions and Countries Covered | North America
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Market leaders and key company profiles |
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
End User -Based Insights
Based on indication, the laboratory balances and scales market pharmaceutical and biotechnology products testing laboratories, cosmeceutical products laboratories, academic institutes, and research laboratories. The pharmaceutical and biotechnology products testing laboratories held the largest share of the market in 2020, and the same segment is estimated to register the highest CAGR of 6.7% in the market during the forecast period.
Inorganic strategies such as partnerships, and mergers and acquisitions are commonly adopted by companies to cater to changing customer demand and maintain their brand name across the world. Market players operating in the Laboratory Balances and Scales market also adopt organic strategies such as product launch and expansion to outstretch their footprint and product portfolio worldwide as well as to meet the growing demand.
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 and Biotechnology Products Testing Laboratories
- Cosmeceutical Products Laboratories
- Academic Institutes
- Research Laboratories
By Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- UK
- Spain
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
- South and Central America (SCAM)
- Brazil
- Argentina
- Rest of SCAM
Company Profiles
- METTLER TOLEDO
- Sartorius AG
- PCE Instruments
- OHAUS
- Adam Equipment Ltd
- GRAM PRECISION
- RADWAG Balances and Scales
- Scientech Inc.
- BONSO Electronics International Inc.
- A&D Company, Limited
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type ; End User , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The costs of the Laboratory Balances and Scales are much higher, and they may cost US$ 300–1500, or more, per type. The cost may also differ from product to product types.
Driving factors include 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.
Micro catheter is small-diameter catheter, preferably used during minimally invasive surgeries. . Laboratory balances are specifically used to measure mass of the substance, while laboratory scales are utilized to measure weight of the substances. These scales and balances are classified on the basis of weighing capacity. Weighing of materials play a vital role in research and development as well as production monitoring and quality control.
The List of Companies - Laboratory Balances and Scales Market
- METTLER TOLEDO
- Sartorius AG
- PCE Instruments
- OHAUS
- Adam Equipment Ltd
- GRAM PRECISION
- RADWAG Balances and Scales
- Scientech Inc.
- BONSO Electronics International Inc.
- A&D Company, Limited