Market Introduction
Middle East consists of three major countries namely United Arab Emirates (UAE), Saudi Arabia and Egypt. Saudi Arabia is the largest market for laboratory balances and scales. The market is driven by extensive research projects undertaken by a number of research institutes and availability of infrastructure and facilities for research in UAE and Saudi Arabia. In Saudi Arabia, laboratory balances and scales market is majorly driven by rising number of research and development centers, focus on implementation of laboratory quality standards, and growing investments in life science sector. Well-developed research centers and focus on increasing research studies for treatment of various diseases, which in turn would increase the development of new therapeutics, and hence will fuel the adoption of laboratory balances and scales for quality control. Technological progression in laboratory balances and scales is the major factor driving the growth of the MEA laboratory balances and scales market.
Countries such as UAE, and Saudi Arabia have also registered a significant number of positive patients. These regions are developing in terms of the medical industry. The countries in these regions are highly dependent on medical devices and biopharmaceuticals products. Therefore, countries have faced several challenges for their requirements. Following COVID-19 and government actions, certain laboratory balance and scales applications, such as pharmaceuticals and detergents, are likely to see an increase in demand. The increase in medical research and diagnostics has been a major factor in the increase in laboratory balance and scales demand, as laboratory balance and scales are widely used in medicine and pharmaceutical engineering. Some companies in the area are working with other businesses to consolidate all facilities under one roof for the convenience of the clients. DuBiotech, for example, is actively forming affiliations and partnerships with prestigious universities, specialist hospitals, global regulatory bodies, and other research parks to link the DuBiotech group with the global life sciences industry. DuBiotech includes a group of biotechnology, pharmaceutical, and research firms, including global leaders such as Pfizer, Amgen, Merck Serono, and Glaboratory balance and scales, in keeping with its philosophy of being the major life science centre in the Middle East. Many small and medium-sized enterprises are also involved in the city. Such initiatives will help the gain traction for the laboratory balance and scales market in near future.
Market Overview and Dynamics
The laboratory balances and scales market in MEA is expected to grow from US$ 44.05 million in 2021 to US$ 59.89 million by 2028; it is estimated to grow at a CAGR of 4.5% from 2021 to 2028. Healthcare infrastructure is witnessing extensive growth in the number of clinical trials and research pipeline across the world. Clinical trial is a crucial and significant step to evaluate the safety and effectiveness of a medical strategy, treatment, or device for commercial usage. These studies also help understand and determine the best medical approaches for a particular therapeutic area. Clinical trials are conducted primarily to collect data regarding the safety and efficacy of a new drug and device development. Before the approval of drug molecules or medical devices by the Hence, the increasing number of clinical trials accelerates the demand for laboratory instruments and equipment, which will ultimately drive the laboratory scales and balances market during the forecast period.
Key Market Segments
The market for MEA 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 MEA 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
MEA Laboratory Balances and Scales Market Segmentation
MEA Laboratory Balances and Scales Market -By Type
MEA Laboratory Balances and Scales Market -By End User
MEA Laboratory Balances and Scales Market -By Country
MEA Laboratory Balances and Scales Market -Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 44.05 Million |
| Market Size by 2028 | US$ 59.89 Million |
| CAGR (2021 - 2028) | 4.5% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Middle East and Africa
|
| Market leaders and key company profiles |
|
The Middle East and Africa Laboratory Balances and Scales Market is valued at US$ 44.05 Million in 2021, it is projected to reach US$ 59.89 Million by 2028.
As per our report Middle East and Africa Laboratory Balances and Scales Market, the market size is valued at US$ 44.05 Million in 2021, projecting it to reach US$ 59.89 Million by 2028. This translates to a CAGR of approximately 4.5% during the forecast period.
The Middle East and Africa 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 Middle East and Africa Laboratory Balances and Scales Market report:
The Middle East and Africa 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 Middle East and Africa Laboratory Balances and Scales Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East and Africa Laboratory Balances and Scales Market value chain can benefit from the information contained in a comprehensive market report.
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