Osmometer Market Analysis, Trends, Forecast, 2017 - 2025
Osmometer is available in three different operational technologies: freezing point technology, vapor pressure technology, and membrane technology. Each technology has its own merits and demerits. These technological advancements in osmometers improve the efficiency of work by reducing the turnaround time and enabling automated processing of multiple samples at a time.
Osmometers have a wide range of applications in medical sciences for diagnosis of diseases; in the pharmaceutical and biotechnology industry for drug discovery and development against specific disease indications; and in research laboratories for determining the concentration of various components in solutions. In hospitals and diagnostics laboratories, these instruments are widely used for analyzing the concentration of specific components in blood and serum samples, plasma samples, and urine samples.
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Technological advancement in osmometers such as automated osmometers is projected to be a key driving factor for the growth of the global osmometer market during the forecast period. New osmometers are featured with easy connectivity with computers, user friendly software and operational modes, and increased output levels in a shorter time period. These added advantages of osmometers help end-users to automate their process and save their time.
Increasing demand for laboratory automation systems owing to extensive laboratory workflow and shortage of skilled professionals is a key contributing factor fuelling the growth of the market. In addition, rising number of geriatric patients worldwide requiring repeated and several pathological tests and growing prevalence and incidence rate of infectious diseases are projected to drive the growth of the osmometer market from 2017 to 2025.
However, high cost of osmometers, lack of skilled professionals in developing and underdeveloped countries, and limited number of market players engaged in osmometers are likely to hamper the market growth in the near future. Development of technologically advanced and user friendly osmometers at economic rates and direct sales strategy in developing countries exhibit the new business opportunity for new as well as existing players.
The global osmometer market is segmented by type, sample, end-user, and region. Based on type, the market is classified into freezing point osmometers, vapor pressure osmometers, and membrane osmometers. The freezing point technology is the most commonly and widely used technology for osmolality testing in laboratories as osmometers with this technology work efficiently with almost all types of liquid matrix.
The freezing point osmometers segment is anticipated to account for the largest market share and is likely to expand at a high growth rate during the forecast period. Based on sample, the market is segmented into single sample osmometers and multiple sample osmometers. The single sample osmometers segment is further divided into micro sample osmometers and macro sample osmometers.
The multiple sample osmometers segment accounts for a significant share of the market and is projected to gain its market share during the forecast period. In terms of end-user, the market is segmented into hospitals and diagnostics centers; pharmaceutical and biotechnology companies; and academic and research laboratories. The hospitals and diagnostics centers segment is likely to expand at a high CAGR during the forecast period.
Geographically, the global osmometer market is distributed over North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest market share in 2016 and is likely to continue its dominance of the market during the forecast period. Well-established health care infrastructure, high health care expenditure per capita, and growing demand for laboratory automation are the key contributing factors for the growth of the market in North America.
In addition, shortages of laboratory professionals and increasing burden of workflow are secondary drivers of the North America market growth. Asia Pacific is projected to be a fast growing market during the forecast period. Emerging economies such as India, China, and Malaysia; growing number of geriatric patients in Japan; and increasing number of hospitals and diagnostics laboratories are key factors propelling the demand for osmometers in the region.
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Key players operating in the global osmometer market include Gonotec GmbH, Advanced Instruments, ELITechGroup, ratiolab, KNAUER, and ARKRAY, Inc. Among these companies, Advanced Instruments dominated the global osmometer market with customers in more than 90 countries.
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