Global Laboratory Electronic Balance Market Report and Forecast 2024-2032

Global Laboratory Electronic Balance MarkeT Outlook 

The global laboratory electronic balance market is expected to grow at a CAGR of 6.4% between 2024 and 2032.

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News and Developments in the Market 

In August 2023, RADWAG Balances and Scales manufactured Scale Editor2.1 via RS232 and Ethernet communication interfaces. This new software includes editing database tables, exporting databases and reports to Excel, .txt and .pdf files, importing databases from .csv files, exporting databases and reports to .csv files, and the configuration of the Ethernet module of standard-class balances and scales. The upgrades are expected to help in overall operations of RADWAG. 

In April 2023, Thermo Fisher Scientific launched the India Engineering Centre in Hyderabad. The new research and development and engineering facility in Hyderabad spans across 42,000 sq. ft and contains an engineering lab that will push forward new product development for the laboratory as well as analytical solutions for the global sites of Thermo Fisher.

In February 2023, Sartorius completed the acquisition of Novasep’s chromatography equipment division. The portfolio acquired includes chromatography systems primarily suited for smaller biomolecules, like peptides, insulin, and oligonucleotides, as well as innovative systems for continuous manufacturing of biologics. 

In December 2021, Sartorius announced its acquisition of a majority stake in ALS Automated Lab Solutions GmbH. The Germany-based laboratory technology company manufactures, develops, and markets solutions for the automated analysis, selection, and isolation of cells. ALS facilitates life science consumers to substantially decrease time to result and cost in cell line development as well as antibody discovery.

In May 2021, Sartorius introduced Arium Smart Station as a convenient and flexible means of dispensing pure as well as ultrapure water. The compact design grants placement of stations in laboratory locations where there is limited space for benchs, and the ergonomic design and intuitive touch-activated colour display offer greater user convenience and control. Further, lab productivity and space can be enhanced by connecting a single water production unit to multiple dispensers. 

Key Trends in the Market 

A laboratory electronic balance is known as an instrument employed in the accurate measurement of the weight of materials in laboratories. Further, it is an instrument primarily utilised in laboratories for accurate measurement of chemicals that are used in numerous experiments. The laboratory electronic balance offers the digital result of the measurement.

• The growing demand for electronic weighing balances and the rising need for research laboratories are likely to drive the laboratory electronic balance market growth across the globe due to the rise in research and development activities.

• The market for laboratory electronic balances is expected to propel owing to the surging need for improved laboratory efficiency along with the demand for accuracy in results.

• An increase in the requirement for research laboratories is likely to provide new opportunities to the laboratory electronic balance market across the globe. 

• With the rising number of partnerships and collaborations as well as strategic agreements amongst key players, the market growth of laboratory electronic balance is expected to bolster over the coming years globally. 

• Moreover, the electronic balances aid in generating repetitive results in research with great accuracy. Small and low-cost electronic balance instruments are ideal for measuring food whereas more expensive versions of electronic balance instruments are employed in labs and government agencies. This is further expected to push forward the demand for the laboratory electronic balance market.

Market Analysis 

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Based on technology, the market can be segmented into micro and semi-micro lab balances, analytical lab balances, and precision lab balances, among others. Based on the end-use, it can be categorised into pharmaceutical products testing laboratories, food and beverage testing laboratories, and petroleum product testing laboratories, among others. The regional markets for the laboratory electronic balance market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East, and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global laboratory electronic balance market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans. 

• Fisher Scientific Company L.L.C. 

• Adam Equipment Inc 

• A&D Company 

• KERN & SOHN GmbH 

• Sartorius AG 

• PCE Deutschland GmbH 

• RADWAG Balances and Scales 

• Humboldt Mfg. Co. 

• Others

Market Share by Technology

The precision lab balances segment is holding a substantial share in the laboratory electronic balance market during the forecast period owing to the technological advancements in laboratory balances and scales. This is coupled with the development of the research pipeline among pharma-biotech and CROs. Going further, the progressively rigid regulatory framework for the safety of products in biotechnology as well as pharmaceutical industries is driving the demand for the precision lab balances segment in the market.

Market Share by End-Use

The pharmaceutical products testing laboratories segment is augmenting the laboratory electronic balance market share over the forecast period on account of the surging demand for employers to regulate the weight of biopharmaceutical substances for research and development activities as well as quality assurance. Moreover, the increasing usage of such tools in pharmaceutical research helps the process since it aids to measure and analyse substances, like solid or liquid, that are difficult to weigh precisely with manual methods owing to their size, density, or shape. This is further expected to enhance the segment growth in the market. 

Market Share by Region

Geographically, the North American region is holding significant growth in the laboratory electronic balance market share on account of the surging research pipelines in biopharmaceutical companies along with evolving technology in the research field. Furthermore, there are strict regulations and governing guidelines along with extensive supervisory agreements regarding product quality among target end-user industries, supporting the growth of the regional market. There is also a robust presence of key market players across North America. 

Over the coming years, the Asia Pacific region is projected to register a considerable share in the laboratory electronic balance market on account of the rising demand for research laboratories, especially in countries like China and India. 

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Competitive Landscape 

Fisher Scientific Company L.L.C. is a part of Thermo Fisher Scientific that focuses on manufacturing specialty chemicals. It has defined unparalleled choice and convenience for over a century as a premier scientific marketplace and has a strong presence in the laboratory electronic balance market. The company is focused on providing innovative yet extremely practical solutions. It has established a comprehensive portfolio of laboratory equipment along with chemicals, supplies, safety products, and services to aid consumers in enhancing productivity and driving innovation in research, education, and the healthcare industry all with more ease and efficiency than ever before.

Adam Equipment Inc is a manufacturer with research and development based in the United Kingdom. It meets or exceeds most international producing standards and regulations. Its products are accessible through e-commerce, independent dealers, and catalogue distribution, along with additional application sales and technical service.

A&D Company is a world-leading enterprise in the design and manufacturing of precision measurement and product inspection equipment for the healthcare and laboratory industrial markets, among others.

KERN & SOHN GmbH is a Germany-based manufacturer of measuring and controlling devices. It provides laboratory balances, industrial and medical scales, test weights, software, optical instruments, and related products, catering to the laboratory electronic balance market.

Sartorius AG is aiding biotech scientists as well as engineers all over the whole world in designing and producing medications from the first idea to production. It aids in new scientific discoveries being rapidly translated into effective patient care. 

PCE Deutschland GmbH is engaged in the development, manufacture, and distribution of industrial products improve efficiency for numerous industries, such as laboratories and industrial plants. Its primary focus is measuring instruments.

RADWAG Balances and Scales is one of the largest worldwide manufacturers of electronic balances based out of Poland. The company aims to continue technological development and offer employers state-of-the-art products based on their own technological know-how. It delivers technology that is in advance of market standards, so its products are an investment in the future. It has its own research and development departments along with research, measurement, and certification laboratories.

Humboldt Mfg. Co. is a United States-based leading manufacturer and supplier of testing equipment used for evaluating construction as well as civil engineering materials. Its equipment is utilised broadly all over the globe for testing concrete, soil, cement, asphalt, and aggregate materials. This testing includes calculations of materials, which are employed in construction projects ranging from bridges and tunnels, to roads, dams, airports, earthworks, and railways, among others.

Key Highlights of the Report