Electrochemistry Meters Market will register growth at 10.2% CAGR by 2032
The Electrochemistry Meters Market is expected to reach $691.3m in 2032, likely to surge at a vigorous 10.2% CAGR during 2022 – 2032.
Electrochemistry meters are among essential laboratory equipment across research laboratories, as they serve to monitor and measure multiple factors such as dissolved oxygen, conductivity, pH, and concentration of ions, in sample solutions.
Regularly employed in monitoring processes within the pharmaceutical and biotechnology industries, electrochemistry meters are vital for environmental testing, agricultural samples testing, and food samples testing. Furthermore, increasing R&D expenditure of biotechnology and pharmaceutical companies will remain a strong factor, underpinning sales of electrochemistry meters in the coming years.
Considerable demand for electrochemistry meters has been observed in academic institutions in the recent past, which is driving the revenue of the electrochemistry meters’ market.
Moreover, increasing demand for multi-parameter test meters and rising awareness among the people about safe water consumption are boosting the growth of the electrochemistry meters’ market.
Some of the prominent players in the global electrochemistry meters’ market are Metrohm AG (Switzerland), HANNA Instruments, Inc. (US), Xylem Inc. (US), DKK TOA Corporation (Japan), METTLER-TOLEDO International, Inc. (US), Danaher Corporation (US), Thermo Fisher Scientific, Inc. (US), Endress+Hauser AG (Switzerland), Yokogawa Electric Corporation (Japan), and Horiba Ltd. (Japan).
The key players in the global electrochemistry meter market are focusing on acquisitions, partnerships, collaboration, and mergers for enhancing the quality and product portfolio of the company. Along with that, the manufacturers are focusing on launching enhanced and improved electrochemistry meters for the customers.
- In April 2019, Thermo Fisher Scientific, one of the prominent US-based players in the industry, entered a research collaboration over the development of advanced end-to-end workflows for the preparation, characterisation, and monitoring of novel and complex biotherapeutics using liquid chromatography-mass spectrometry (LC-MS).
- In March 2019, the company announced the acquisition of Brammer Bio, a leader in viral vector contract development and manufacturing organisation (CDMO).
Based on geography, the countries with a significant economy such as Canada and US in North America are estimated to capture a significant share of electrochemistry meters owing to rapid development in the field of research laboratories, biotechnology, and pharmaceutical Industries.
In addition, growing government spending on academic research institutes in North America is boosting the growth of the electrochemistry meters’ market.
European countries such as France and Germany are expected to hold a prominent share in the electrochemistry meters’ market owing to an increase in the pharmaceutical and biotechnology industries in the European countries. Therefore, these parameters are propelling the growth of the electrochemistry meters market in Europe.
Moreover, the Asia Pacific Excluding Japan is also estimated to capture a substantial share in the electrochemistry meters market, owing to increasing food and agriculture industries and government spending on academic research institutes.
Growth of the environmental testing space in the APEJ is estimated to boost the electrochemistry meters’ market growth during the forecast period, at a significant CAGR.
In Middle East Africa, there is an upsurge in several biotechnology and pharmaceutical countries along with that, increasing government expenditure on academic research laboratories for improving the quality of the devices is estimated to fuel gradually the demand for the electrochemistry meters’ market during the forecast period in Middle East Africa.
The report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.