According to a research report titled ‘Global Laboratory Balances and Scales Market by Product (Analytical, Precision, Micro, Portable, Moisture), by Scales (Bench, Counting, Compact), End User (Pharmaceutical, Biotechnology, Chemical, Beverage, Petroleum, Academia), Regional Forecasts 2021-2027’, available with Market Study Report, global laboratory balances and scales market was worth USD 1.4 billion in 2020 and is projected to attain a valuation of USD 1.8 billion by the end of the forecast period 2021-2027, garnering a CAGR of over 3.7% throughout.
 

As per the report findings, stringent government regulations on food safety, introduction of customized and upgraded laboratory-grade balances and scales, ongoing technological advancements, and rising development of research pipelines among CROs (contract research organizations) and pharma-biotech companies are driving worldwide laboratory balances and scales market growth.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3930341/
 

For the record, the Centers for Disease Control and Prevention (CDC) reported that foodborne illnesses affect nearly 48 million Americans (1 out of 6) every year, resulting in 3,000 deaths and 128,000 hospitalizations. This major, but preventable public concern regarding quality control is expected to add substantial traction to industry development.
 

Notably, laboratory balances and scales are used for quantitative and analytical testing as weighing equipment. These devices can determine weights of solids, liquids, tissues, and powders. They are primarily used for production, quality control, and even for product development.
 

Despite the positive outlook, finite replacement rate among end-users are likely to obstruct worldwide laboratory balances and scales market expansion in the upcoming years.
 

On the regional front, North America currently accounts for majority industry share owing to factors such as broad regulations on product quality and strict regulatory guidelines among target end users, and substantial presence of market vendors throughout the region.
 

The competitive landscape of the market is defined by Mettler-Toledo International Inc., Humboldt Mfg. Co., Gram Precision, Essae-Teraoka Pvt. Ltd., Avery Weigh-Tronix LLC, A&D Co. Ltd., Kern & Sohn GmbH, Danaher Corp., Bonso Electronics International Inc., and Adam Equipment Co. Ltd.