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Europe Laboratory Balances and Scales Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type and End User

Europe Laboratory Balances and Scales Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type and End User

  • July 2021
  • 150 pages
  • ID: 6134291
  • Format: PDF
  • The Insight Partners


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The laboratory balances and scales market in Europe is expected to grow from US$ 380.37 million in 2021 to US$ 532.36 million by 2028; it is estimated to grow at a CAGR of 4.9% from 2021 to 2028.

In recent years, the pharmaceutical industry has been growing at an unprecedented pace.Big pharmaceutical companies and contract research organizations (CROs) are coming up with new medicines and therapy forms to treat a wide range of indications.

The biopharmaceuticals market is increasing.The strong demand for biologics and biosimilars has driven the growth of the industry.

The biopharmaceutical industry is one of the most significant contributors to the economy.Factors such as increasing biologics approval, growing biosimilar pipeline, and rising investment in research activities are facilitating the growth of the industry.

Moreover, biopharmaceutical research activities are gaining pace in emerging economies such as Germany, the UK, and France offering lucrative opportunities for the growth of the market. Apart from this, increasing approvals in gene and cell therapies are favoring the growth of the market. The factors mentioned above are increasing the demand for the large scale production of various therapeutics, thereby facilitating the growth of the Europe laboratory balances and scales market.

The pharmaceutical/biotechnology products testing laboratories segment led the Europe laboratory balances and scales market based on product in 2020.Balances and scales are prominently used in pharmaceutical as well as biotechnology testing products.

In case of pharmaceutical companies, the balances and scales play a vital role in early stage of clinical trials.Also, in case of biotechnology, the scales and balances are widely used during research activities in laboratories.

Rising number of pharmaceutical and biotechnology laboratories are likely to offer favorable environment for adoption of laboratory balances and scales.

The European economy is seriously hit due to the exponential growth of COVID-19 cases in the region.Russia, Spain, Italy, Germany, France, and the UK are among the most affected European countries.

Many countries are declaring more cases each day now than during the first wave earlier this year.Lockdowns are being reintroduced in UK, Spain, and Italy, and Ireland, as per the European Centre for Disease Prevention and Control (ECDC).

Due to the second wave of COVID-19 crises, the government of many nations is managing towards mounting up testing capacity.The rising occurrence rate of coronavirus results in increased stress on the region’s healthcare system, which is also rising the demand for diagnostic tests in its healthcare system, supporting the expansion of the sector in this region.

As of June 15, 2021, the virus has affected over 47,237,939 people across the region and killed at least 1,087,476, as per Worldometer. Moreover, Spain, Italy, Germany, France, and the UK are among the most affected European countries. As per the data provided by Worldometer, till June 15, 2021, the UK, France, Spain, Italy, and Germany recorded 4,573,419; 5,741,354; 3,741,767; 4,245,779; and 3,724,201; respectively, COVID-19 cases and the death counts are also huge in these nations. Most of the region’s sectors are massively hit by the pandemic’s spread, with most nations being locked down.

The overall Europe laboratory balances and scales market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining overview and forecast for the Europe laboratory balances and scales market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe laboratory balances and scales market. A&D Company, Limited., Adam Equipment Ltd, BONSO Electronics International Inc., GRAM PRECISION, METTLER TOLEDO, OHAUS, PCE Instruments, RADWAG Balances and Scales, Sartorius AG, and Scientech Inc. are among a few players operating in the Europe laboratory balances and scales market.

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