Laboratory Balances and Scales Market: Increase in Number of Research Pipelines of Pharma-Biotech Companies and Contract Research Organizations

The laboratory balances and scales market is expected to reach US$ 2,131.14 million in 2028 from US$ 1,463.53 million in 2021. The market is estimated to grow with a CAGR of 5.5% from 2021-2028.

The scope of the Laboratory Balances and Scales market includes type, end-user, and region. The market for laboratory balances and scales, based on region, is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America. The report offers insights and in-depth analysis of the laboratory balances and scales market emphasizing on various parameters such as market trends, technological advancements, market dynamics, and competitive landscape analysis of leading market players across the world. It also includes COVID–19 impact analysis across all the regions.

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Key Findings from The Laboratory Balances and Scales Market

  • The Laboratory Balances and Scales market, by type, is segmented into laboratory balances and laboratory scale. Laboratory balances segment is further sub-segmented as analytical balances, top loading/precision balances, micro and ultra-micro balances, moisture balances, portable balances, and other balances. Laboratory scale segment is also further sub-segmented as bench scales, counting scales, compact scales, and other scales.
  • The laboratory balances segment held the largest share of the market in 2021, whereas the same segment is anticipated to register the highest CAGR of 5.8% in the market during the forecast period.
  • Based on indication, the laboratory balances and scales market pharmaceutical and biotechnology products testing laboratories, cosmeceutical products laboratories, academic institutes, and research laboratories.
  • The pharmaceutical and biotechnology products testing laboratories held the largest share of the market in 2020, and the same segment is estimated to register the highest CAGR of 6.7% in the market during the forecast period.
  • A few prominent players operating in the Laboratory Balances and Scales Market are  METTLER TOLEDO, Sartorius AG, PCE Instruments, OHAUS, Adam Equipment Ltd, GRAM PRECISION, RADWAG Balances and Scales, Scientech Inc., BONSO Electronics International Inc., A&D Company, Limited

Increase in Number of Research Pipelines of Pharma-Biotech Companies and Contract Research Organizations

Healthcare infrastructure is witnessing extensive growth in the number of clinical trials and research pipeline across the world. Clinical trial is a crucial and significant step to evaluate the safety and effectiveness of a medical strategy, treatment, or device for commercial usage. These studies also help understand and determine the best medical approaches for a particular therapeutic area. Clinical trials are conducted primarily to collect data regarding the safety and efficacy of a new drug and device development. Before the approval of drug molecules or medical devices by the regulatory authorities, a series of clinical studies are conducted.
 

Number of Registered Studies for Clinical Trials

Year First Posted

Studies at Start of Year

Studies During Year

Studies at End of Year

2015

181,304

24,130

205,434

2016

205,434

27,809

233,243

2017

233,243

29,198

262,441

2018

262,441

17,836

280,277

2019

293,275

32,519

325,794

2020

325,794

36,740

362,534

 

Source: Clinical Trials.gov and The Insight Partners Analysis

Hence, the increasing number of clinical trials accelerates the demand for laboratory instruments and equipment, which will ultimately drive the laboratory scales and balances market during the forecast period.

By Type

  • Laboratory Balances
    • Analytical Balances
    • Top-Loading/Precision Balances
    • Micro and Ultra-Micro Balances
    • Moisture Balances
    • Portable Balances
    • Other Balances
  • Laboratory Scales
    • Bench Scales
    • Counting Scales
    • Compact Scales
    • Other Scales

By End-User

  • Pharmaceutical and Biotechnology Products Testing Laboratories
  • Cosmeceutical Products Laboratories
  • Academic Institutes
  • Research Laboratories

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