Laboratory balances and scales are used to measure mass and weight of pharmaceutical as well as biotechnology substances in research laboratories. These scales and balances are used to weigh pharmaceutical chemicals, biological samples, stents, and tiny components of medical devices. Maintaining proper weights and mass plays a vital role in early stages of any clinical trials. Hence, these instruments are crucial for drug and devices development.
METTLER TOLEDO and Sartorius AG –are Notable Market Players in Laboratory Balances and Scales Market
Continual research and development activities conducted by market players are leading to new product introductions with enhanced capabilities. Furthermore, the industry players are also emphasizing on incorporating new software and programing technologies in laboratory balances and scales. In November 2020, METTLER TOLEDO announced launch of its new brand XPR106DUH in order to offer superior precision for material weighing. Further, in June 2021, RADWAG Balances and Scales introduced new technologies for stent weighing. The company has introduced three different models, AK-5/100.STENT balance, XA 6.4Y.M.A PLUS STENT microbalance, and UYA 2.4Y PLUS STENT ultra-microbalance for stent weight measurement. Moreover, in September 2017, Adam Equipment announced launch of ABL semi-micro balances series in Latin America and Europe. The newly introduced product offers weight readability from 0.01 mg to 220 g. In addition, the increasing number of business activities among market players is anticipated to accelerate the growth of the laboratory balances and scales market during the forecast period. For instance, in January 2021, Cole-Parmer, an Antylia Scientific Company, completed acquisition of ZeptoMetrix in order to expand its quality control products portfolio. Such developments are also likely to drive the market in years to come.
The Laboratory Balances and Scales market majorly consists of the players such as companies such METTLER TOLEDO, Sartorius AG, PCE Instruments, OHAUS, Adam Equipment Ltd, GRAM PRECISION, RADWAG Balances and Scales, Scientech Inc., BONSO Electronics International Inc., and A&D Company, Limited amongst others. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have utilized organic strategies such as launches, expansion, and product approvals. Whereas, the inorganic strategies such as mergers & acquisitions, partnership, collaborations, were widely seen in the Laboratory Balances and Scales market.
Several in organic approaches, such as product launches, and expansion in the Laboratory Balances and Scales market, have resulted in the positive growth of the market. Likewise, inorganic strategies such as mergers & acquisitions, and collaboration have help the company to strengthen its revenue, which allows the company to hold a strong position in the market.
Below is the list of the growth strategies done by the players operating in the Laboratory Balances and Scales market:
|Apr-2021||Adam Equipment, introduced CBX, a new on-the-go, value-priced balance that’s designed to outlast the average weighing device.|
|Nov-2020||Adam Equipment, expanded its washdown line with the introduction of the Aqua washdown scale.|