The Europe Laboratory Balances and Scales Market would witness market growth of 4.2% CAGR during the forecast period (2022-2028).
The precision balances are used in the quality and research control laboratory of the pharmaceuticals, food, chemicals, textile businesses, and academic institutes. In the laboratories, the precision balances are used for general weighing, dynamic weighing, making samples, statistical quality control, formulation, and interval weighing. Because of the quality of high precision and accuracy, the precision balance is ideal for any general measuring work in the lab.
Extremely accurate and top-loading laboratory balances of 10 kg or more are joined with a bigger stand, and they are generally used in pharmaceuticals, chemicals, and adhesive production. Moreover, they can also be used in the jewelry business for weighing gold, diamond, and other metals and stones.
Analytical balances are mostly used in the science laboratory, pharmaceuticals industry, and also in higher education institutes for the formulation of compounds, identification of density, analysis of purity, and conformance setting. They are also being used in medical laboratories and the healthcare industry to get an accurate reading of a patient's weight which can be checked by doctors and other health experts. Additionally, the analytical balance is continuously used for making the standards or buffer recipes and measuring peptides.
Germany comprises of one among the most prominent pharmaceutical industry in Europe region. Revenues in the pharmaceutical industry as a whole climbed by 5.7% in 2019 to reach EUR 46.4 billion (ex-manufacturer prices). The pharmacy sector produced about 86 percent of revenues, while the clinic segment brought in about 14 percent. Drug sales by pharmacies (including mail-order pharmacies) increased to EUR 58.8 billion (expharmacy prices) in the same year, a growth of 5.3%. 88 percent of these sales were for prescription-only drugs. Non-prescription drugs sold 50% of all units sold, but only made up 12% of total income. Germany is home to more than 500 pharmaceutical companies, both domestically based businesses and overseas subsidiaries. This supports the growth of the regional market.
The Germany market dominated the Europe Laboratory Balances and Scales Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $88.3 million by 2028. The UK market is anticipated to grow at a CAGR of 3.3% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 4.9% during (2022 - 2028).
Based on Product Type, the market is segmented into Analytical Balances, Precision Balances, Moisture Balances, Compact Scale, Micro Balance, and Others. Based on End User, the market is segmented into Pharmaceutical, Cosmeceutical, & Biotechnology Products Testing Laboratories, Chemical & Material Testing laboratories, Food & Beverage Testing Laboratories, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Laboratory Balances and Scales Market will Hit $1.3 Billion by 2028, at a CAGR of 4.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Mettler-Toledo International, Inc., A&D HOLON Holdings Company, Limited, Sartorius AG, Shimadzu Corporation, Adam Equipment Inc. (Indutrade AB), Essae-Teraoka Pvt. Ltd., Scientech, Inc., Radwag Balances and Scales, Kern & Sohn GmbH, and PCE Holding GmbH.
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