The Laboratory Balances and Scales Market is expected to grow at a 4.3% CAGR between 2023 and 2033. The market is expected to be worth US$ 1.31 billion in 2023, with a market share of US$ 2.0 billion by 2033.
•The market expansion is fueled by the increased use of precise and effective lab measurement technologies, such as electronic scale laboratories and measuring scales laboratory equipment. Additionally, the vendors’ advanced scales and balances with service support are influencing market growth patterns.
•The government is increasing its spending and expanding its research and development facilities at the same time as private biotechnology and nanotechnology companies. The expansion so stimulates market expansion.
•The proliferating healthcare infrastructure in Asian economies such as China and India are also contributing to the growth of laboratory balances and scales market.
•The stringent norms for laboratory management also push the adoption of safety equipment. The application of high precision laboratory balances in complex measurements is expected to shape the major trends.
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Key Points :
1.The United States market is likely to lead the laboratory balances and scales market in terms of CAGR and market share. The market thrives at a CAGR of 4.1% during the forecast period. The market growth is attributed to the growing research activities along with the government and private biotechnology and microbiology projects.
The regional market is expected to hold a value of US$ 708.6 million by 2033.
2.The Chinese laboratory balances and scales market is another significant market with a CAGR of 3.7% between 2023 and 2033. The regional growth is attributed to stringent government norms and rapidly growing medical and industrial infrastructure. The market is anticipated to reach a value of US$ 143.5 million by 2033.
3.The R&D laboratory is likely to thrive in the end user type category as it thrives on a CAGR of 3.8% between 2023 and 2033. The growth is attributed to factors like higher consumption and companies extending their research base.
4.The analytical balances segment is expected to top the product type category with a CAGR of 4.1% during the forecast period. The growth of this segment is fueled by higher accuracy and efficient measurement.
Competitive Landscape :
The key competitors focus on producing different types of balances in laboratory that help in enhancing the measuring experience. Key competitors also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel. The key players in the 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.
Recent Market Developments :
•In 2022, Ohaus Instruments has introduced its Defender series of industrial bench scales. The scale can be utilized in basic weighing and counting, advanced applications such as high-capacity storage and maximum configurability print output. The company claims that it is ready for the complex applications and harsh work environments.
•Precisa Gravimetrics AG has launched its long range of lab weight balances and scales, industrial scales, as analyzers, and moist analyzers.
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Key Segments :
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
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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