Laboratory Balances Segment to Dominate North America Laboratory Balances and Scales Market during 2021–2028
According to a new market research study on “North America Laboratory Balances and Scales Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and End User” is expected to reach US$ 976.49 million by 2028 from US$ 660.05 million in 2021. The market is estimated to grow at a CAGR of 5.8% from 2021 to 2028. The report provides trends prevailing in the North America laboratory balances and scales market along with the drivers and restraints pertaining to the market growth. Swift growth of pharmaceutical and biotechnology industry is the major factor driving the growth of the North America laboratory balances and scales market. However, issues associated with the limited replacement rate among end users hinder the growth of North America laboratory balances and scales market.
The market for North America laboratory balances and scales market is segmented into type, end user, and country. Based on type, the market is segmented into laboratory balances and laboratory scale. The laboratory balances segment dominated the market in 2020 and is expected to be the fastest growing during the forecast period. Further laboratory balances has been bifurcated into analytical balances, top-loading/precision balances, micro and ultra-micro balances, moisture balances, portable balances, and other balances. Similarly laboratory scale is bifurcated into bench scales, counting scales, compact scales, and other scales. Based on end user the market is segmented into pharmaceutical/biotechnology products testing laboratories, cosmeceutical products laboratories, research laboratories, and academic institutes. The pharmaceutical/biotechnology products testing laboratories segment dominated the market in 2020 and is expected to be the fastest growing during the forecast period.
In the North American region, the US was profoundly affected by the outbreak of the COVID-19 pandemic. The country has marked the highest number of positive patients and still facing the second wave of COVID-19. For instance, according to the WHO, between 3 January 2020 to 17 June 2021, 33,163,632 confirmed cases of COVID-19 had been registered. Also, the country has registered 595,256 death. Similarly, other countries have experienced a rise in the incidences of COVID-19 positive. Across the various healthcare sectors, the effect of a pandemic can be felt, resulting in various changes in the health care industry. Scientists are working together to produce and exchange genomic sequence data information, which can be used in disease detection and control efforts and conversely it is rising the demand for laboratory balances and scales market. The FDA has increased its efforts to support the health of people and has imposed several guidelines and for hospitals and medical device companies. Various companies also enhanced their research and development activities for diagnostics tests and therapeutic devices. For instance, companies such as Thermo Fisher Scientific, F. Hoffmann-La Roche AG, EverlyWell, and Abbott are producing COVID-19 tests. Whereas, Thermo Fisher Scientific has increased its production and has produced 5 million tests per week in April. Likewise, Abbott has received Emergency Use Authorization (EUA) for a point-of-care test that can provide results in minutes. Thus, increased production by the companies has resulted in profits, and the outbreak of COVID-19 has shown a positive impact on market growth.
A&D Company, Limited. , Adam Equipment Ltd, BONSO Electronics International Inc., GRAM PRECISION, METTLER TOLEDO, OHAUS, PCE Instruments, Sartorius AG, and Scientech Inc are among the leading companies in the North America laboratory balances and scales market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Adam Equipment, introduced CBX, a new on-the-go, value-priced balance that's designed to outlast the average weighing device.
The report segments the North America Laboratory Balances and Scales market as follows:
North America Laboratory Balances and Scales Market – By Type
- Laboratory Balances
- Analytical Balances
- Top-Loading/Precision Balances
- Micro and Ultra-Micro Balances
- Moisture Balances
- Portable Balances
- Other Balances
- Laboratory Scale
- Bench Scales
- Counting Scales
- Compact Scales
- Other Scales
North America Laboratory Balances and Scales Market – By End User
- Pharmaceutical/Biotechnology Products Testing Laboratories
- Cosmeceutical Products Laboratories
- Research Laboratories
- Academic Institutes
North America Laboratory Balances and Scales Market – By Country
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