Global Laboratory Balances and Scales Market Size, Share & Industry Trends Analysis Report By Product Type (Analytical Balances, Precision Balances, Moisture Balances, Compact Scale, Micro Balance, and Others), By End User, By Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the Laboratory Balances and Scales Market
Market Report Description
The Global Laboratory Balances and Scales Market size is expected to reach $1.3 billion by 2028, rising at a market growth of 4.6% CAGR during the forecast period.
The laboratory balances and scales are used to find out the mass of any object at an extreme level of precision. The mass of any object is determined by metric units like grams and kilograms or also in units of pounds and ounces. The balances have the characteristics to measure a broad range of substances, from a grain of synthetic solid measured by a microbalance to the mass of a big beaker on a triple beam balance.
Precision balances, compact balances, and analytical balances are the few general balances that are widely used. The modern-day weighing scale is developed weighing equipment consisting of a set of software to note and process the outcomes achieved by weighing. Earlier, electronic balances were available in the late 1960s with the feature to read and display one part in 10,000 portions.
Surely, it was a huge achievement by then, but today it has become possible to record weight to within 1 part in a few million by using a new weight detection framework and enhanced electronics. Balances and scales offer a high level of readability, a high level of accuracy, and a wide range of weighing.
Yet, a few factors can impact the results of balances and scales, such as the laboratory environment, operating temperature, moisture, vibration, and ventilation current. So, it is necessary to keep the weighing pan in a closed space or cover it to avoid the influence of dust or various contaminants. The samples in labs are kept at room temperature to avoid the development of the air current inside the closed area.
COVID-19 Impact Analysis
The market of laboratory balances has been negatively impacted by the COVID-19 pandemic due to the disturbance in the supply chain, which created a shortage of laboratory balances and scales. Furthermore, the COVID-19 pandemic has evolved and imposed several restrictions such as lockdowns, travel restrictions, compulsory vaccination procedures, and quarantines that disrupted the manufacturing and production of laboratory balances and scales. In addition to this, temporary closure of working of various industry verticals resulted in reduced demand for balances and scales. Moreover, the rising acquisition of laboratory balances and scales has been seen in several areas like Jewelry stores and art galleries, which is expected to support the development of the laboratory balances and scales market in post pandemic period.
Market Growth Factors
Rising demand in pharmaceutical industry
The laboratories of pharmaceutical industries use balances and scales for accurate measurement. Balances and scales are highly helpful for the pharmaceutical industry in identifying the mass or amount of any substance or matter in the process of preparing drugs and maintaining the standard and regulations in pharmaceutical manufacturing. Additionally, pharmaceutical industries also use balances and scales to measure the weight of the arrived raw material stock. Owing to these factors, the demand for laboratory balances and scales is continuously surging, thereby supporting the market growth.
Arising need in chemical industry
Weighing the chemicals while manufacturing is crucial to the chemical industry. It is essential to consider the chemicals' precision and safety. Therefore, the balances and scales are the most vital component of the chemical industry. During the packaging and manufacturing of the chemicals, it is essential to measure the mass of each element to balance the chemical equation. In this process, an ideal lab balance plays a vital role. The weighing scales measure the substance in kilograms, pounds, or other units as per the chemicals. Still, this measurement is only the mass estimation presented in the weight format. This supports the growth of the laboratory balances and scales market.
Market Restraining Factor
Accuracy can be affected
The minor vibration can also affect the sensitivity of the balances and scales. These types of disturbances need a recalibration of the analytical balance, which is costly and needs lots of time. Furthermore, as temperature and vibration can affect the balances and scales system, air can too affect the measurement of samples and the mechanism of balances and scales. The change in the air pressure of the room by means of air conditioners and open doors can impact the measurement of the vulnerable samples and thus affect the accuracy. Due to these accuracy issues associated with the laboratory balances and scales, the market is predicted to constrain in the upcoming years.
On the basis of product type, the laboratory balances and scales market is classified into analytical balances, precision balances, moisture balances, compact scale, micro balance and others. In 2021, the micro balances segment garnered a significant revenue share in the laboratory balances and scales market. Micro scales laboratory balances are also called top-loading balances. Basically, micro-scale balances are a form of scale made to provide extremely precise results in the form of a sub-milligram range. As this device is used for tiny samples, micro-scale balances can provide correct, quick, and easy techniques for the measurement weight of the samples. Micro-scales offer a wide range of weighing abilities, with the highest capacity. The ability to offer highly accurate results will increase the demand for micro balances in the field of research.
End User Outlook
On the basis of end user, the laboratory balances and scales market is bifurcated into pharmaceutical, cosmeceutical, & biotechnology products testing laboratories, chemical & material testing laboratories, food & beverage testing laboratories and others. In 2021, the chemical & material testing laboratories segment registered a significant revenue share in the laboratory balances and scales market. Chemical balance is the beam balance tool used to test chemical quantities with extreme precision. It measures the chemical's mass to a precision of four decimal places. It is used to analyze chemicals quantitatively. Any slight difference can be recognized by such balances. High accuracy needed in measurement of chemicals is resulting in the market growth in this segment.
|Market size value in 2021||USD 983.5 Million|
|Market size forecast in 2028||USD 1.3 Billion|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 4.6% from 2022 to 2028|
|Number of Pages||198|
|Number of Tables||300|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Product Type, End User, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Region-wise, the laboratory balanced and scales market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2021, the North America region led the laboratory balances and scales market by generating the largest revenue share. In terms of production and manufacturing, North America is the major producer and manufacturer of laboratory balances and scales. The United States and Canada are the main countries dominating the market due to the factors including the strict guidelines and long regulatory rules for the safety and quality of the products for end-user businesses, as well as the presence of the key market player in this region.
Free Valuable Insights: Global Laboratory Balances and Scales Market size to reach USD 1.3 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Mettler-Toledo International, Inc., A&D HOLON Holdings Company, Limited, Sartorius AG, Shimadzu Corporation, Adam Equipment Inc. (Indutrade AB), Essae-Teraoka Pvt. Ltd., Scientech, Inc., Radwag Balances and Scales, Kern & Sohn GmbH, and PCE Holding GmbH.
Scope of the Study
Market Segments Covered in the Report:
By Product Type
- Analytical Balances
- Precision Balances
- Moisture Balances
- Compact Scale
- Micro Balance
By End User
- Pharmaceutical, Cosmeceutical, & Biotechnology Products Testing Laboratories
- Chemical & Material Testing laboratories
- Food & Beverage Testing Laboratories
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Mettler-Toledo International, Inc.
- A&D HOLON Holdings Company, Limited
- Sartorius AG
- Shimadzu Corporation
- Adam Equipment Inc. (Indutrade AB)
- Essae-Teraoka Pvt. Ltd.
- Scientech, Inc.
- Radwag Balances and Scales
- Kern & Sohn GmbH
- PCE Holding GmbH
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North America Laboratory Balances and Scales Market Report 2022-2028
Europe Laboratory Balances and Scales Market Report 2022-2028
Asia Pacific Laboratory Balances and Scales Market Report 2022-2028
LAMEA Laboratory Balances and Scales Market Report 2022-2028
What would be the size of the Laboratory Balances and Scales Market by 2028?
The global Laboratory Balances and Scales Market size is expected to reach $1.3 billion by 2028.
What are the key driving factors and challenges in the Laboratory Balances and Scales Market?
Rising demand in pharmaceutical industry are driving the market in coming years, however, Accuracy can be affected restraints the growth of the market.
What are the major top companies in the competitive landscape?
Mettler-Toledo International, Inc., A&D HOLON Holdings Company, Limited, Sartorius AG, Shimadzu Corporation, Adam Equipment Inc. (Indutrade AB), Essae-Teraoka Pvt. Ltd., Scientech, Inc., Radwag Balances and Scales, Kern & Sohn GmbH, and PCE Holding GmbH.
Which segment is leading the market in 2021?
The Pharmaceutical, Cosmeceutical, & Biotechnology Products Testing Laboratories segment is leading the Global Laboratory Balances and Scales Market by End User in 2021 thereby, achieving a market value of $559.9 million by 2028.
Which region dominated the Laboratory Balances and Scales Market in 2021?
The North America market dominated the Global Laboratory Balances and Scales Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $475.5 million by 2028.