South America Laboratory Balances and Scales Market is expected to reach US$ 102.08 Mn by 2028

Laboratory Balances Segment to Dominate SAM Laboratory Balances and Scales Market during 2021–2028

 According to a new market research study on “SAM 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$  102.08 million by 2028 from US$  73.91 million in 2021. The market is estimated to grow at a CAGR of 4.7% from 2021 to 2028. The report provides trends prevailing in the SAM laboratory balances and scales market along with the drivers and restraints pertaining to the market growth. Fast growth of pharmaceutical and biotechnology industry is the major factor driving the growth of the SAM laboratory balances and scales market. However, issues associated with the confined replacement rate among end users hinder the growth of SAM laboratory balances and scales market.

The market for SAM 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.

COVID-19 cases are increasing in SAM. With the outbreak of the second wave of COVID-19, the number of cases in Latin American countries has increased. Now, the nation is increasingly expanding its clinical services to combat the novel corona virus. The COVID-19 pandemic has badly impacted countries such as Brazil and Argentina. According to Worldometers, as of June 28, 2021, Brazil had 18, 448, 402 COVID-19 positive cases, and in Argentina, there were 4,423,636. The increasing incidences of COVID-19 have increased demand for several laboratory testing which consequently create vital growth opportunities for the target market.Despite this impact, the region's biotechnology industry is doing little to fight the virus, and the lack of projects has exposed the sector's vulnerability. There are a few unrelated and autonomous projects going on, but they are happening independently of one another, meaning that there is no strong biotech network. The Brazilian pharmaceutical industry is facing challenges of trying to contain the COVID-19 pandemic while dealing with enormous cost pressures. In Brazil, the rise in the dollar has made importing APIs more expensive and also there is increase in logistics costs, due to the reduction in air traffic, with the consequent upsurge in freight costs. Additionally, there is also significant increase in the prices of raw materials, inputs and finished products. These factors are likely to have negative impact on the market.

A&D Company, Limited. , Adam Equipment Ltd, BONSO Electronics International Inc., GRAM PRECISION, METTLER TOLEDO, OHAUS, Sartorius AG, and Scientech Inc are among the leading companies in the SAM 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 SAM Laboratory Balances and Scales market as follows:

SAM 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

SAM Laboratory Balances and Scales Market – By End User

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

SAM Laboratory Balances and Scales Market – By Country

• Brazil
• Argentina
• Rest of SAM