Market for Petroleum Product Testing Laboratories, By Region, 2016-2023 (USD Million)

According to the new market research report  Laboratory Balances and Scales Market by Product (Balances (Analytical, Precision, Micro, Portable, Moisture), Scales (Bench, Counting, Compact)), End User (Pharmaceutical, Biotechnology, Chemical, Beverage, Petroleum, Academia) – ****** Forecast to 2023″, published by MarketsandMarkets™, analyzes and studies the major market drivers, restraints/challenges, and opportunities in North America, Europe, Asia-Pacific, and the Rest of the world (RoW).

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The major factors driving the growth of the laboratory balances and scales market are the technological advancements in laboratory balances and scales; increasing research investments and activities among pharma-biotech companies and CROs; increasingly stringent regulatory framework for product safety in bio-pharmaceutical industries; implementation of stringent food safety guidelines; and emerging markets.

Based on product type, the laboratory balances market is segmented into micro & ultra-micro balances, top loading/precision balances, analytical balances, portable/compact balances, moisture analyzers, and other balances. The analytical balances segment is expected to account for the largest share of the laboratory balances and scales market in 2018. The increasing adoption of analytical balances among biopharmaceutical industries, owing to its procedural benefits (such as portability, easy to operate, less weighing time, high durability, low cost, and high precision) is the major factor driving the growth of this market segment.

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Based on end user, the laboratory balances and scales market is segmented into pharmaceutical, cosmeceutical, and biotechnology product testing laboratories; chemical and material testing laboratories; food and beverage testing laboratories; petroleum product testing laboratories; research laboratories & academic institutes, and other end users. The pharmaceutical, cosmeceutical, and biotechnology product testing laboratories segment is expected to account for the largest share during the forecast period. Growing developmental pipeline of key manufacturers, expansion of research facilities by the product manufacturers & private organizations in the industry and need to comply with product safety and quality regulations are the key factors driving the growth of this segment.

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The laboratory balances and scales market is segmented into four regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World. The North America region is expected to account for the largest share of the ****** laboratory balances and scales market in 2018, and this trend is expected to continue during the forecast period. Dominant position of North America is mainly attributed to presence of stringent regulatory guidelines & extensive regulatory compliance for product quality among target end user industries, the strong presence of major market players in the region, and growing research pipeline among the biopharmaceutical companies.

Key Players:
The major players operating in the laboratory balances and scales market are A&D Company, Ltd (Japan), Metler Toledo international, Inc. (US), Sartorius AG (Germany), Shimadzu Corporation (Japan), PCE Instruments (UK), Kern & Sohn GmbH (Germany), RADWAG Balances and Scales (Poland), Adam Equipment Co. (UK), Avery Weigh-Tronix, LLC (UK), Bonso Electronics International, Inc. (China), Essae Group (India), and Gram Precision S.L (Spain).

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