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Laboratory Balances and Scales Market Size Industry Perspective, Comprehensive Analysis, Growth and Forecast 2021-2028
Laboratory Balances and Scales Market
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.
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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.
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.
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.
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
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