PRECISION BALANCES MARKET ANALYSIS

Market Challenges And Opportunities

Increase in Demand for High Accuracy Weighing Products is One of the Major Factors Driving Growth of the Precision Balance Market

Rising demand for high accuracy precision balances in various sectors such as research center, laboratories, pharmaceutical industry, universities, and others is driving growth of the market. Precision balances are widely used in the pharmaceutical industry to precisely measure the ingredients so they may manufacture the exact products as slight variations in the ingredients may alter the combination of the desired products. According to International Federation of Pharmaceutical Manufacturers & Associations (2018), the global pharmaceutical market will reach nearly US$ 1,430 billion by 2020. Hence, growing demand for high accuracy precision balances is fueling growth of the market.