Los Angeles, CA — (SBWIRE) — 09/24/2021 — QY Research predicts the global lab balance market to grow at a moderate CAGR of 5.2% between 2020 and 2026. In its new report, titled “Global Lab Balance Industry Research Report, Growth Trends and Competitive Analysis 2020-2026,” the market researcher mentions that the global market value is expected to reach US$879.3 Mn by 2026, increasing from US$614.2 Mn achieved in 2019. To establish a strong position on the global market, Lab Balance manufacturers will likely acquire cell culture media, chemical and biotechnology companies. In December 2019, Sartorius acquired a majority stake in Biological Industries for approximately EUR45.0 Mn in cash.
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Global Lab Balance Market: Key Drivers
? Need for reliable and exact lab weighing results
? Increasing regulatory standards in the pharma industry
? High accuracy requirements for lab quantitative analysis and analytical testing
? Increase in biotech, cosmeceutical, and pharma products testing activities
? High number of lab research and analysis activities in pharma-biotech companies
Top Loading Balance to Find High Demand from Research and Quality Control Labs
Based on type, the global lab balance market is segmented into analytical balance and top loading balance. The report also focuses on the key applications segments of the global laboratory balance market. research center, university, etc. Market experts believe that top loading balance holds a greater share of the global laboratory balance market. It is also known as precision lab balance. It can be used in many industries including education, food and textiles, chemical, and pharmaceutical. It is used frequently by quality control and research labs.
High Demand for Lab Analytical Testing and Quantitative Analysis to Support Growth in North America
North America is expected to collect a considerable share of the global lab balance market due to increasing investments in biopharmaceutical research, heavy presence of key players, and strong lab technological advancement. The region’s growth could be aided by strict government regulations regarding lab practices.
Players to Launch Technologically Innovative and Broader Range of Lab Balances
The report covers leading players competing in the global lab balance market, including Mettler Toledo, Radwag, Sartorius, BEL Engineering, A&D, Shimadzu, Bonso Electronics, Thermo Fisher, Adam Equipment, and Techcomp (Precisa). To gain a competitive advantage over the rest of the market, lab balance manufacturers and suppliers will likely introduce new products. In 2019, Sartorius introduced the Cubis II portfolio of lab balance products enabling enhanced flexibility and operational efficiency for analytical and research and development laboratories.
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