Laboratory Balances And Scales Market

Laboratory Balances and Scales Market: Increasing Standards and Quality of Products Creating Potential Growth Opportunities: Global Industry Analysis 2013 - 2018 & Opportunity Assessment 2019 - 2027

  • 2019-01-08
  • REP-GB-8142
  • 165 pages
  • PDF PPT EXCEL
Laboratory Balances And Scales Market

An Incisive, In-depth Analysis on the Laboratory Balances And Scales Market

This study offers a comprehensive, 360 degree analysis on the Laboratory Balances And Scales market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Laboratory Balances And Scales market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

Laboratory Balances and Scales Market Growth Driven by Increasing Adoption in Healthcare and Pharmaceutical Industries

Various industries such as healthcare, pharmaceutical, and biotechnology are facing challenges in standardization of products and the exact composition amount of samples. Laboratory balances and scales are being rapidly adopted in laboratories to measure the mass of objects, which includes solids, liquids, and tissues. Monitoring the weight/mass of a sample is a crucial step while conducting an experiment, and it is most commonly checked again after the final step. A rapid increase in research and development experiments in institutes, and testing of samples/compounds in the medical and biotechnology sectors are fuelling the demand for laboratory equipment such as laboratory balances and scales. Furthermore, the high adoption of laboratory balances and scales is being witnessed in various areas such as jewelry stores and art galleries, which is significantly driving the growth of the laboratory balances and scales market. An increase in the applications of laboratory balances and scales in biotechnology as well as chemical industries where the weighing of samples is required on a regular basis is further expected to boost the growth of the laboratory balances and scales market over the forecast period.

Laboratory Balances and Scales Market Segmentation

Precision Laboratory Balances are Gaining Traction, Owing to Rapid Adoption in the Heavily Regulated Pharmaceutical & Medical Industry

Among the different types of laboratory balances and scales available in the market, precision laboratory balances are expected to witness maximum growth during the forecast period, owing to high demand from industries such as healthcare, pharmaceuticals, biotechnology, and others. Due to stringent regulations related to drug development processes in the pharmaceutical industry, the monitoring of samples becomes a crucial step before and during experiments. Other industries such as chemicals and food also have stringent regulations that need to be adhered to before a product can go to the market, which acts as a driving force for the adoption of precision laboratory balances and scales.

Nowadays, these precision laboratory balances and scales are installed with advanced software that ensure error-free weighing and also provide an option to transfer data to a personal computer or laptop. Many research professionals recommend these laboratory balances for the precise measurement of samples, which also includes medicines in pharmacies and for the analysis of various samples in pharmaceutical laboratories.

The Analytical Laboratory Balances Segment is Expected to Account for a Large Market Share in the Laboratory Balances and Scales Market

Analytical laboratory balances and scales have been adopted well by users in various heavily regulated industries such as pharmaceuticals and medicine. These laboratory balances and scales provide precise measurements, which is a mandate in various industries. The analytical laboratory balances segment is expected to remain dominant during the forecast period. Various manufacturers are launching analytical laboratory balances equipped with different features:

  • In 2018, Mettler Toledo, a manufacturer of laboratory equipment, based in the U.S., launched high-precision analytical laboratory balancing instruments for laboratories for better precision measurement of weighing samples.

Analytical laboratory balances and scales are quick and accurate, and can identify the weight of very small samples. They are capable of providing precise measurements up to four decimals. Thus, the analytical laboratory balances segment is expected to capture a large market share over the forecast period.

Increase in Research and Development Expenditure in Major Economies is Driving Growth of the Laboratory Balances and Scales Market

On the basis of geography, the laboratory balances and scales market is sub-segmented into North America, Latin America, Europe, Japan, APEJ (Asia Pacific Excluding Japan), and Middle East & Africa.

The governments of major economies such as the United States, Germany, China, Japan, and others are investing in research and development activities to remain competitive in various sectors. The United States is leading the global ranking in research & development, which is equivalent to 2.84% of its gross domestic product. This is followed by China, with an approximate investment of US$ 475 billion in 2018. APEJ is expected to grow at a relatively high CAGR during the forecast period in the global laboratory balances and scales market, due to the presence of various key players in the region, as well as a large number of research laboratories present here. Japan spends more on research & development as a share of its GDP than the U.S. and China. However, Germany is expected to increase its funding on research and development in 2019. The focus of various countries on research and development is boosting the growth of the laboratory balances and scales market in various regions across the globe.

The Launch of Upgraded & Customized Laboratory Balances and Scales is the Key Strategy Being Adopted by Leading Manufacturers

Leading manufacturers are focusing on the up-gradation of laboratory balances and scales for improving the accuracy while weighing samples. Laboratory balances and scales with high precision and accuracy are in demand in highly regulated industries. Leading manufacturers are focusing on the introduction of varied laboratory balances and scales such as ultra-micro laboratory balances, micro laboratory balances, analytical laboratory balances, precision laboratory balances, and others. For instance, Mettler Toledo launched an analytical laboratory balance with a status light that indicate whether laboratory balances tests are up-to-date. It also includes features such as RFID technology and other relevant features for providing precise results.

As per FMI analysis, leading players in the laboratory balances and scales market are Thermo Fischer Scientific, Mettler Toledo, Sartorius, Ohaus Instruments, A&D Company, Adam Equipments, Gram Precision, PCE Instruments, Precisa Gravimetrics AG, RADWAG Balances and Scales, Sciencetech Inc., Bonso Electronic International, Inc., and Kern & Sohn Gmbh.

Report Synopsis

FMI offers a 8-year forecast for the laboratory balances and scales market between 2019 and 2027. In terms of value, the market is expected to register a CAGR of 5.4% during the forecast period. This study demonstrates the global laboratory balances and scales market dynamics and trends across different regions, such as North America, Latin America, Europe, Japan, APEJ and Middle East & Africa, which influence the current nature and the future status of the laboratory balances and scales market over the forecast period. The popularity of laboratory balances and scales is increasing due to the adoption of laboratory balances and scales in laboratory equipment for balancing, and scaling

Report Description

This research report provides a detailed analysis of the laboratory balances and scales market and offers insights about the various factors influencing the market. This study of laboratory balances and scales provides a comprehensive assessment of the stakeholder strategies and imperatives for succeeding in the business. The laboratory balances and scales report segregates the market based on product type, and end users as well as across different regions worldwide.

The report starts with an overview of the global laboratory balances and scales market in terms of value. In addition, this section of the laboratory balances and scales report includes the analysis of key trends, drivers and restraints that are influencing the market. The impact analysis of the key drivers and restraints of the laboratory balances and scales market are included in this report to provide clients crystal-clear decision-making insights. The global laboratory balances and scales market is estimated to witness a single-digit CAGR in terms of value and volume, owing to which it is expected to reach US$ 2.1 Bn by 2027.

Increasing production in the biotechnology & pharmaceutical industry is boosting the applications of biotechnology & pharmaceutical in various research and development areas, and this is fuelling the growth of the laboratory balances and scales market. In addition, factors such as increasing biochemistry operations that include balancing and scaling and others are some of the prime factors fuelling the growth of the laboratory balances and scales market at the global level. Moreover, rapid increase in research activities at hospitals, research institutes and other areas is fuelling the demand for laboratory equipment such as laboratory balances and scales. Furthermore, the applications of laboratory balances and scales in the other areas, such as food industries, manufacturing industries is also significantly driving the global laboratory balances and scales market. Thus, the increasing applications of laboratory balances and scales in biotechnology and the identification of product’s weight precisely is boosting the market for laboratory balances and scales.

Leading players in the laboratory balances and scales market are following various strategies to sustain in the market. For example, Mettler Toledo had introduced analytical balance, which provides enhanced measuring capabilities to precisely weigh the samples. The company is investing 7-8 % of its revenue on the research and development. Also, companies are focusing on customization of the equipment as per latest needs and requirements.

On the basis of product type, the laboratory balances and scales market is segmented considering the categories in which the laboratory balances and scales are available as well as their application areas. Based on product type, the laboratory balances and scales market is segmented into analytical balances, precision balances, moisture balances, bench scales, compact scales and other products. The revenue contribution from the precision segment in laboratory balances and scales market is expected to expand at a CAGR of 6.4% during the forecast.  The adoption of precision balances by chemical industries, R&D laboratories and others is fuelling the growth of this segment in the global laboratory balances and scales market.

On the basis of end use, the laboratory balances and scales market is segmented into R&D laboratory, educational institutes, healthcare, pharmaceutical, chemical industries, and others. Considering the demand for laboratory balances and scales, the R&D laboratory segment is expected to grow significantly due to constant investments in conducting research and experiments. The application of laboratory balances and scales in biotechnology & pharmaceutical companies for the weighing of the products is driving the laboratory balances and scales market.

The next section in laboratory balances and scales report highlights a detailed analysis of the market across various countries. It provides a market outlook for 2019–2027, and sets the forecast within the context of the laboratory balances and scales market, which includes the latest developments and offerings. This study discusses the key trends within countries that are contributing to the growth of the market, as well as analyses the degrees at which the drivers influence the market in each region. Key regions and countries assessed in the laboratory balances and scales report include North America (U.S. & Canada), Latin America (Brazil, Mexico & the rest of Latin America), Europe (Germany, Italy, France, Russia, U.K. & the rest of Europe), Japan, APEJ  (China, India, Malaysia, Australia, Singapore & the rest of APEJ) and MEA  (GCC Countries, Israel, South Africa & the rest of MEA).

The laboratory balances and scales market report evaluates the present scenario and growth prospects of these devices across various regions globally for the period 2019–2027. We have considered 2017 as the base year, and provided data for the remaining 12 months. The forecast presented in the laboratory balances and scales market report assesses the total revenue by value across the market. To offer an accurate forecast, we have started by sizing the current market, which forms the basis of how the laboratory balances and scales market will develop in the future. Given the characteristics of the market, we have triangulated the outcome of different types and vertical analysis based on technology trends in laboratory balances and scales.

In addition, it is imperative to note that, in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse on the basis of key parameters, such as Year-on-Year (Y-o-Y) growth, to understand the predictability of the laboratory balances and scales market and to identify the right opportunities present in the market.

In the final section of the laboratory balances and scales report, we have included a competitive landscape to provide clients a dashboard view based on the categories of providers in the value chain, their presence in the laboratory balances and scales portfolio and key differentiators. This section of the laboratory balances and scales report is primarily designed to provide clients an objective and detailed comparative assessment of the key providers specific to a market segment in the laboratory balances and scales value chain and the potential players for the same. The laboratory balances and scales report audiences can gain segment-specific vendor insights to identify and evaluate the key competitors based on an in-depth assessment of their capabilities and success in the market. The detailed profiles of the providers of laboratory balances and scales are also included in the scope of the report to evaluate their long-term & short-term strategies, key offerings and recent developments in the laboratory balances and scales market.

Laboratory balances and Scales Market: Key Segments Covered

  • Product Type

    • Analytical Balances

    • Precision Balances

    • Moisture Balances

    • Bench Scales

    • Compact Scales

  • End Use

    • R&D Laboratory

    • Educational Institutes

    • Healthcare and Pharmaceutical

    • Chemical Industries

    • Others

Key Regions Covered

  • North America

    • U.S.

    • Canada

  • Latin America

    • Brazil

    • Mexico

    • Rest of Latin America

  • Europe

    • Germany

    • U.K.

    • Russia

    • France

    • Italy

    • Rest Of Europe

  • Japan

  • APEJ

    • China

    • India

    • Malaysia

    • Singapore

    • Australia

    • Rest of APEJ

  • Middle East & Africa

    • GCC Countries

    • Israel

    • South Africa

    • Rest of MEA

Key Companies for Laboratory Balances and Scales

  • Mettler Toledo

  • Sartorius Group

  • Ohaus Instruments. Co.,Ltd.

  • A&D Company Ltd

  • Adam Equipment Inc

  • Gram Precision Ltd.

  • PCE Instruments.

  • RADWAG Balances and Scales

  • Scientech Inc.

  • Bonso Electronics International Inc.

  • KERN & SOHN GmbH

  • Alliance Scale Inc.

  • Humboldt Mfg. Co

  • Avery Weigh-Tronix

  • Precisa Gravimetrics AG

Laboratory Balances And Scales Market Reports - Table of Contents

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