MCP-3503: LABORATORY BALANCES AND SCALES – A GLOBAL STRATEGIC BUSINESS REPORT
January 10, 2017 – Increase in Demand for Lab Services Including Clinical & Research and the Ensuing Spurt in Lab Spending Benefits Sales of Laboratory Balances and Scales, According to a New Report by Global Industry Analysts, Inc.
GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Laboratory Balances and Scales market. The global market for Laboratory Balances and Scales is projected to reach US$1 billion by 2022, driven by the increased demand for laboratory services in healthcare, academics, life sciences, pharmaceutical, food, and chemical industries.
Scales and balances have evolved over the years to emerge as an integral part of weighing and measurement in laboratories. Weighing is one of the most critical and time-consuming activity in a lab. Used for precise weighing, laboratory balances are now considered as fundamental instruments for R&D and analysis and compounds. The market is flooded with a wide range of weighing scales that offer better accuracy and can weigh even the minutest particle. Based on the needs and price preferences of customers, manufacturers of laboratory balances offer a wide variety of laboratory balances and scales ranging from precision balances to semi-micro and ultra-micro-balances, all of which serve different purposes. The market is driven by the stringent guidelines and recommendations for laboratory analysis. Growing safety standards in the food and pharma sectors will continue to shift the emphasis towards analytical quality.
The rapid growth of pharmaceutical and biotechnology sectors and the resulting increase in laboratories performing quality control of medicines is presenting significant opportunities for growth. Stringent contractual lab testing agreements and arrangements are helping increase the significance of lab balances and scales. Sustained increase in the number of clinical research organizations (CROs), particularly in Asian countries, is fuelling demand for laboratory balances and scales. Academic and public sector research institutions represent another major end-use market. Given the need for academic laboratories to perform consistent, predictable, repeated, high quality yet cost-effective research activities, there is a need for high quality lab equipment and consumables for achieving the objectives. The growing need to replace old and obsolete lab balances with advanced technology-based instruments also presents significant opportunities for the market. The growth in the market is also encouraged by technological advancements, which have led to the development of newer lab balance and scale models with sophisticated features such as touchscreen digital display, ergonomic design, integrated data acquisition features, intuitive user interface and in-built diagnostics.
As stated by the new market research report on Laboratory Balances and Scales, the United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 5.9% over the analysis period led by factors such as emergence of Asian countries as hubs for laboratory outsourcing services such as sample testing and analytical projects; emphasis on lab infrastructure development; and growing government policy level commitment towards enhancing clinical, biological and scientific research.
Major players covered in the report include A&D Company Ltd, Adam Equipment Co. Ltd, Avery Weigh-Tronix LLC, Bonso Electronics International Inc., CAS - USA Corp, Contech Instruments Ltd, Gram Precision S.L, Kern & Sohn GmbH, Mettler Toledo International Inc., OHAUS Corporation, Panomex Inc., RADWAG Balances and Scales, Sartorius AG, Scientech Inc., Setra Systems Inc., and Shimadzu UK Limited, among others.
The research report titled “Laboratory Balances and Scales: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific), Latin America and Rest of World. The Laboratory Balances and Scales market is analyzed by the end-use sectors, Food, Chemicals, Academia, Pharma & Biotech and Others.
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