Europe Laboratory Balances and Scales Market
Europe is in the significant position in the global market for laboratory balances and scales and is expected to register a considerable growth rate during the forecast period. The laboratory balances and scales market in Europe is in a growth phase due to the growing demand for compliant, reliable, and accurate laboratory data presence and the rising focus of major players and increasing their presence in this region. The research-based pharmaceutical industry can play a key role in restoring growth in Europe and ensuring future competitiveness in the global economy. Furthermore, the high adoption of laboratory balances and scales is being observed in various sectors such as art galleries and jewelry stores, which is considerably pouring the growth of the regional laboratory balances and scales market. Growth in number of research pipelines of pharma-biotech companies and contract research organizations is the major factor driving the growth of the Europe laboratory balances and scales market.
The European economy is seriously hit due to the exponential growth of COVID-19 cases in the region. Russia, Spain, Italy, Germany, France, and the UK are among the most affected European countries. Many countries are declaring more cases each day now than during the first wave earlier this year. Lockdowns are being reintroduced in UK, Spain, and Italy, and Ireland, as per the European Centre for Disease Prevention and Control (ECDC). Due to the second wave of COVID-19 crises, the government of many nations is managing towards mounting up testing capacity. The rising occurrence rate of coronavirus results in increased stress on the region's healthcare system, which is also rising the demand for diagnostic tests in its healthcare system, supporting the expansion of the sector in this region. As of June 15, 2021, the virus has affected over 47,237,939 people across the region and killed at least 1,087,476, as per Worldometer. Moreover, Spain, Italy, Germany, France, and the UK are among the most affected European countries. As per the data provided by Worldometer, till June 15, 2021, the UK, France, Spain, Italy, and Germany recorded 4,573,419; 5,741,354; 3,741,767; 4,245,779; and 3,724,201; respectively, COVID-19 cases and the death counts are also huge in these nations. Most of the region's sectors are massively hit by the pandemic's spread, with most nations being locked down.
Strategic insights for the Europe Laboratory Balances and Scales provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 380.37 Million |
| Market Size by 2028 | US$ 532.36 Million |
| Global CAGR (2021 - 2028) | 4.9% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe Laboratory Balances and Scales refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The laboratory balances and scales market in Europe is expected to grow from US$ 380.37 million in 2021 to US$ 532.36 million by 2028; it is estimated to grow at a CAGR of 4.9% from 2021 to 2028. Laboratory balances and scales are used to measure mass and weight of pharmaceutical as well as biotechnology substances in research laboratories. These scales and balances are used to weigh pharmaceutical chemicals, biological samples, stents, and tiny components of medical devices. Maintaining proper weights and mass plays a vital role in early stages of any clinical trials. Hence, these instruments are crucial for drug and devices development.
The market for Europe 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.
A few major primary and secondary sources referred to for preparing this report on the laboratory balances and scales market in Europe 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, PCE Instruments, RADWAG Balances and Scales, Sartorius AG, and Scientech Inc. among others.
The Europe Laboratory Balances and Scales Market is valued at US$ 380.37 Million in 2021, it is projected to reach US$ 532.36 Million by 2028.
As per our report Europe Laboratory Balances and Scales Market, the market size is valued at US$ 380.37 Million in 2021, projecting it to reach US$ 532.36 Million by 2028. This translates to a CAGR of approximately 4.9% during the forecast period.
The Europe 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 Europe Laboratory Balances and Scales Market report:
The Europe 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 Europe Laboratory Balances and Scales Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Laboratory Balances and Scales Market value chain can benefit from the information contained in a comprehensive market report.
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