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Laboratory Balances & Scales: Worldwide Market Outlook to 2023 - Lab Balances Expected to Dominate

/EIN News/ -- Dublin, Dec. 10, 2018 (GLOBE NEWSWIRE) -- The "Laboratory Balances and Scales Market by Product, End User - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The global lab balances and scales market is projected to reach USD 1.6 billion by 2023 from USD 1.3 billion in 2018, at a CAGR of 3.7%.

The growth of this market is largely driven by factors such as increasingly stringent regulatory framework for product safety in biotechnology and pharmaceutical industries; growing public emphasis on Implementation of stringent food safety guidelines; and expansion of research pipeline among pharma-biotech and CROs. However, limited replacement rate of lab balances among end users is expected to hamper the market.

The lab balances segment is expected to account for the largest market share during the forecast period

Based on product, the lab balances and scales market is segmented into lab balances and lab scales. The lab balances segment is expected to account for the largest share of this market in 2018. The growing adoption of balances among key end users industries (owing to the greater regulatory compliance for product quality and increased research pipeline that replicate into higher lab balances usage) is the major factors driving the growth of this market segment.

The pharmaceutical, cosmeceutical, and biotechnology product testing laboratories segment is estimated to grow at the highest rate during the forecast period

On the basis of end user, the lab balances and scales market has been segmented into pharmaceutical, cosmeceutical, and biotechnology product testing laboratories; chemical and material testing laboratories; food and beverage testing laboratories; petroleum product testing laboratories; research laboratories & academic institutes, and other end users.

The pharmaceutical, cosmeceutical, and biotechnology product testing laboratories segment is estimated to grow at the highest rate during the forecast period due to factors such as need to comply with product safety & quality regulations and growing public-private investments to strengthen the pipeline development of novel pharmaceutical and biotechnology products.

Asia Pacific to witness high growth rate in global lab balances and scales market during the forecast period

The lab balances and scales market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World. Asia Pacific is expected to register high growth rate in global lab balances and scales market in 2018. The increasing number of R&D activities, rising government healthcare expenditure, and presence of stringent regulatory policies (especially for food and drug safety) are some of the key factors supporting the growth of the Asia Pacific market.

Furthermore, increasing usage of analytical instruments (include lab balances and scales) in the food industry (owing to the growing food safety concerns) and growth of the biotechnology and pharmaceutical industry are some of the other major factors driving the growth of the lab balances and scales market in Asia Pacific.

Market Players

In 2017, A&D Company, Ltd (Japan), METLER TOLEDO International, Inc. (US), Sartorius AG (Germany), and Shimadzu Corporation (Japan) dominated the laboratory balances and scales market.

The other prominent players operating in the laboratory balances and scales market include PCE Holding GmbH Co. Kg (UK), Kern & Sohn GmbH (Germany), RADWAG Balances and Scales (Poland), Adam Equipment Co. (UK), Avery Weigh-Tronix, LLC (UK), Bonso Electronics International, Inc. (China), Essae Group (India), Gram Precision S.L (Spain), Humboldt Scientific, Inc. (US), Scientech, Inc. (US), and Danaher Corporation (US), among others.

Key Topics Covered

1. Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency Used for the Study
1.5 Major Market Stakeholders

2. Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.2 Market Estimation Methodology
2.2.1 Usage Pattern-Based Market Estimation
2.2.2 Revenue Mapping-Based Market Estimation
2.2.3 Primary Research Validation
2.3 Data Triangulation
2.4 Research Assumptions
2.5 Research Limitations

3. Executive Summary

4. Premium Insights
4.1 Laboratory Balances and Scales: Market Overview
4.2 Laboratory Balances Market, By Type, 2018 vs 2023
4.3 Laboratory Scales Market, By Type, 2018 vs 2023
4.4 Geographic Analysis: Laboratory Balances and Scales Market, By End User (2018)
4.5 Market, By Country (2018-2023)

5. Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Technological Advancements in Laboratory Balances and Scales
5.2.1.2 Expansion of the Research Pipeline of Pharma-Biotech Companies and Crops
5.2.1.3 Increasing Stringency of the Regulatory Framework for Product Safety Compliance in Pharma-Biotech Industries
5.2.1.4 Growing Public Emphasis on the Implementation of Stringent Food Safety Regulations
5.2.2 Restraints
5.2.2.1 Limited Replacement Rate Among End Users
5.2.3 Opportunities
5.2.3.1 Emerging Markets

6. Laboratory Balances and Scales Market, By Type
6.1 Introduction
6.2 Laboratory Balances
6.2.1 Analytical Balances
6.2.1.1 Procedural Benefits Offered By Analytical Balances to Drive Market Growth
6.2.2 Top-Loading/Precision Balances
6.2.2.1 The Ability to Weigh Samples With A Relatively Larger Mass is A Key Advantage of Precision Balances
6.2.3 Micro & Ultra-Micro Balances
6.2.3.1 High-Speed Measurement, High Accuracy, and Easy Operations are Key Advantages of Micro and Ultra-Micro Balances
6.2.4 Moisture Balances
6.2.4.1 The Demand for Moisture Balances is Increasing Among Target End Users Due to Their High-Speed Measurement and High Accuracy
6.2.5 Portable/Compact Balances
6.2.5.1 Limited Ability of Portable Balances to Measure Heavy Samples Limits Their Adoption Among End Users
6.2.6 Other Balances
6.3 Laboratory Scales
6.3.1 Bench Scales
6.3.1.1 Quick Stabilization, High Accuracy, Ease of Handling, and Fast Measurement TimeKey Benefits of Bench Scales
6.3.2 Counting Scales
6.3.2.1 Increasing Adoption of Counting Scales Among Drug Testing, Food Testing, and Biotechnology Laboratories to Drive Market Growth
6.3.3 Compact Scales
6.3.3.1 High Accuracy, Easy Portability, Fewer Space Requirements, and Ease of Handling are Key Advantages of Compact Scales
6.3.4 Other Scales

7. Laboratory Balances and Scales Market, By End User
7.1 Introduction
7.2 Pharmaceutical, Cosmeceutical, and Biotechnology Products Testing Laboratories
7.2.1 Growing Developmental Pipeline of Pharmaceutical and Biotechnology Manufacturers is A Key Driver
7.3 Chemical and Material Testing Laboratories
7.3.1 Demand for Lab Balances and Scales is Estimated to Rise With Increasing Production Output of Chemicals and Materials
7.4 Food and Beverage Testing Laboratories
7.4.1 Increasing Food Adulteration and Contamination has Resulted in Implementation of Stringent Food Safety Guidelines
7.5 Petroleum Product Testing Laboratories
7.5.1 Increasing Number of Research Activities Across Petroleum Industries is Driving Demand
7.6 Research Laboratories and Academic Institutes
7.6.1 Limited Budgets of Small & Mid-Sized Research Labs and Academic Institutes May Restrain Market Growth
7.7 Other End Users

8. Lab Balances and Scales Market, By Region
8.1 Introduction
8.2 North America
8.2.1 US
8.2.1.1 The Strong Presence of Major Market Players in the US to Drive Market Growth
8.2.2 Canada
8.2.2.1 Growth in the Lab Balances and Scales Market in Canada is Driven By the Growing Availability of Novel Lab Balances and Scales
8.3 Europe
8.3.1 Germany
8.3.1.1 Growing Demand for Lab Balances and Scales is Supported By Increasing Number of Patent Renewals of Pharma Drugs
8.3.2 UK
8.3.2.1 Growth in This Market is Driven By the Rising Number of Research Activities to Validate the Therapeutic Efficacy and Safety of Drugs
8.3.3 France
8.3.3.1 Increasing Adoption of Lab Balances and Scales Among Research Experts in Various End-Use Industries is Driving Demand
8.3.4 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.1.1 High Market Entry Barriers and Pricing Pressure on Product Manufacturers to Limit Market Growth
8.4.2 China
8.4.2.1 Supportive Government Regulations for the Expansion and Modernization of Healthcare Facilities Will Drive Market Growth
8.4.3 India
8.4.3.1 Increasing Public Focus on Food Safety & Drug Quality Regulations to Drive Market Growth in India
8.4.4 Rest of Asia Pacific
8.5 Rest of the World

9. Competitive Landscape
9.1 Overview
9.2 Global Market Share Analysis (2017)
9.3 Competitive Scenario (2014-2018)
9.3.1 Key Product Launches (2014-2018)
9.3.2 Key Expansions (2014-2018)

10. Company Profiles
10.1 Introduction
10.2 A&D Company, Ltd.
10.3 Adam Equipment, Ltd.
10.4 Avery Weigh-Tronix LLC
10.5 Bonso Electronics International, Inc.
10.6 Danaher Corporation
10.7 Essae Group
10.8 Gram Precision
10.9 Humboldt Mfg. Co.
10.10 Kern & Sohn GmbH
10.11 Mettler Toledo International, Inc.
10.12 Pce Holding GmbH & Co. Kg
10.13 Radwag Balances and Scales
10.14 Sartorius AG
10.15 Scientech, Inc.
10.16 Shimadzu Corporation

For more information about this report visit https://www.researchandmarkets.com/research/6hpvgq/laboratory?w=12

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Related Topics: Laboratory Equipment

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