Market Introduction
Asia Pacific laboratory balances and scales market is segmented on the basis of the five countries/sub-regions China, Japan, Australia, India, South Korea and rest of the Asia Pacific. Asia Pacific is expected to grow at the highest CAGR during the forecast period. China, India, and Japan are three major contributors to the growth of the market, which is driven by increasing number of research and development facilities and growing number of product launches. Augmentation of pharmaceutical sector in emerging markets is the major factor driving the growth of the APAC laboratory balances and scales market.
Following a string of pneumonia cases in Wuhan, the Chinese health authorities, the capital city of Hubei province (China), declared in January 2020 that these cases were caused by a novel coronavirus. The Asia Pacific healthcare industry is highly affected as the source of the COVID-19 pandemic was from an Asian country. Therefore, several governments have made numerous regulatory changes in the medical sector. For instance, in China, the Center for Medical Device Evaluation (CMDE) has announced adjustments of its medical device application acceptance and consultation services to start from February 3, 2020. It has encouraged the use of its online eRPS system. Also, it has temporarily suspended on-site acceptance of applications and consultation services. Similarly, in Singapore, the Singapore Health Sciences Authority (HSA) has issued an exemption order on January 31, 2020, for the health products. If this pandemic lasts for a longer time, it may impact the supply of active material and ingredients along with the import and export of pharmaceuticals. There is also the potential for negative impacts of both a medium- and longer-term nature on R&D and manufacturing activities, and delay on projects. Restrictive measures have been taken to control the spread of this pandemic.
Market Overview and Dynamics
The laboratory balances and scales market in APAC is expected to grow from US$ 305.15 million in 2021 to US$ 460.33 million by 2028; it is estimated to grow at a CAGR of 6.0% from 2021 to 2028. In recent years, the pharmaceutical industry has been growing at an unprecedented pace. Big pharmaceutical companies and contract research organizations (CROs) are coming up with new medicines and therapy forms to treat a wide range of indications. The biopharmaceuticals market is increasing. The strong demand for biologics and biosimilars has driven the growth of the industry. The biopharmaceutical industry is one of the most significant contributors to the economy. Factors such as increasing biologics approval, growing biosimilar pipeline, and rising investment in research activities are facilitating the growth of the industry. Moreover, biopharmaceutical research activities are gaining pace in emerging economies such as China and India, and offering lucrative opportunities for the growth of the market. Apart from this, increasing approvals in gene and cell therapies are favoring the growth of the market. The factors mentioned above are increasing the demand for the large scale production of various therapeutics, thereby facilitating the growth of the laboratory balances and scales market.
Key Market Segments
The market for APAC 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.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the laboratory balances and scales market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are A&D Company, Limited. , Adam Equipment Ltd, BONSO Electronics International Inc., GRAM PRECISION, METTLER TOLEDO, OHAUS, Sartorius AG, and Scientech Inc. among others.
Reasons to buy report
APAC Laboratory Balances and Scales Market Segmentation
APAC Laboratory Balances and Scales Market -By Type
APAC Laboratory Balances and Scales Market -By End User
APAC Laboratory Balances and Scales Market -By Country
APAC Laboratory Balances and Scales Market -Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 305.15 Million |
| Market Size by 2028 | US$ 460.33 Million |
| CAGR (2021 - 2028) | 6.0% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Laboratory Balances and Scales Market is valued at US$ 305.15 Million in 2021, it is projected to reach US$ 460.33 Million by 2028.
As per our report Asia Pacific Laboratory Balances and Scales Market, the market size is valued at US$ 305.15 Million in 2021, projecting it to reach US$ 460.33 Million by 2028. This translates to a CAGR of approximately 6.0% during the forecast period.
The Asia Pacific Laboratory Balances and Scales Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Laboratory Balances and Scales Market report:
The Asia Pacific Laboratory Balances and Scales Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Laboratory Balances and Scales Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Laboratory Balances and Scales Market value chain can benefit from the information contained in a comprehensive market report.
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