The global laboratory electronic balance market is expected to register a significant CAGR over a forecast period.
Electronic balance is an instrument used in the accurate measurement of weight of materials. Electronic balance is a significant instrument for the laboratories for precise measurement of chemicals which are used in various experiments.
Laboratory electronic balance provides digital result of measurement. Some of the application areas for laboratory electronic balance are pharmaceutical research, scientific research, industrial, food research, educational research and others.
On the basis of types of products electronic balance instrument can be classified into top loading balance and analytical balance. Electronic balance helps to produce repetitive result with great accuracy in research.
Small and low cost of electronic balance instrument prefer for measuring food and more expensive version of electronic balance instruments are used in the labs and government agencies.
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North America, followed by Europe, has the largest market for laboratory electronic balance due to increasing demand for laboratory electronic balance and rise in research activities in this region. Asia is expected to show high growth rate in the laboratory electronic balance market in next few years due to emerging demographics and increasing demand for research laboratories in the region.
Rising need for electronic weighing balances, increasing demand for research laboratories and rise in research and development activities are expected to drive the market for laboratory electronic balance. In addition, increasing demand for improved laboratory efficiency and need for accuracy in results are expected to drive the market for laboratory electronic balance.
However, need of high level of safety standards is a restraining for the growth for global laboratory electronic balance market.
Growing demographics and economies in the developing countries such as India and China is expected to lead the growth in laboratory electronic balance market in Asia. In addition, rise in demand for research laboratories is expected to offer new opportunity to global laboratories electronic balance market.
Increasing number of collaborations and partnerships and strategic alliances in the market are some of the trends have been observed in global laboratory electronic balance market.
Some of the major companies operating in the global laboratory electronic balance market are Thermo Fisher Scientific Inc., Mettler-Toledo International Inc., Sartorius AG, A&D Company Ltd., Acculab Inc., BEL Engineering srl, CAS Corp., Intelligent Weighing Technology Inc. and Scientech Technologies Pvt.
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