According to a new report, published by KBV research, The Global Laboratory Balances and Scales Market size is expected to reach $1.3 billion by 2028, rising at a market growth of 4.6% CAGR during the forecast period.
The Precision Balances segment is showcasing a CAGR of 5% during (2022 - 2028). Precision balances are used to measure the mass of any substance to an accurate number, generally up to one milligram. Precision balances are sometimes also called “top loading balances.” These balances have a huge range of capacity. Pharmaceutical industries require high readability and capacity to measure the mass of the samples, such as blood and medicines. Therefore, precision balances are highly useful in pharmaceutical industries.
The Pharmaceutical, Cosmeceutical, & Biotechnology Products Testing Laboratories segment is leading the Global Laboratory Balances and Scales Market by End User in 2021 thereby, achieving a market value of $559.9 million by 2028. In the pharmaceutical and cosmetics industry, the end product is tested for the best quality. Constant measurements are also carried out with raw material upon arrival as well as throughout the production process. As the whole process sometimes relies on the outcomes of the measurement, it is important to have efficient measuring equipment.
The North America market dominated the Global Laboratory Balances and Scales Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $475.5 million by 2028. The Europe market is exhibiting a CAGR of 4.2% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 5.3% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/laboratory-balances-and-scales-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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