Lab Titration Devices Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Lab Titration Devices Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Lab Titration Devices Market is projected to register a CAGR of 8% during the forecast period (2022-2027).

COVID-19 is expected to boost the market's growth due to the increased demand for laboratory titration devices. The ease of the restrictions for the laboratory titrations during the pandemic period lockdowns across the world is expected to propel the market's growth. For instance, the article published in March 2021, titled 'Sleep Laboratories Reopening and COVID-19: A European Perspective,' mentioned that there are fewer restrictions for in-laboratory titrations and in-person visits in Germany. In United States and Italy, in-laboratory titrations are permitted if they take place in an airborne infection isolation room. Thus, these factors are expected to not have much of a restraining effect on the market's growth.

Increased demand for automated titration devices is also expected to drive the market's growth. This trend is mainly due to the increasing demand for automated lab titration devices for precise and accurate results in the chemical and pharmaceutical industries. Additionally, automated titration offers several advantages. The benefits of automated lab titration, such as accessibility, time-saving, easy-to-use, and minimizing human errors, increase the demand for automated lab titration. For instance, the article published in November 2021 titled 'Computer Vision in Chemistry: Automatic Titration' mentioned that a significant advantage of Computer Vision automation is the use of open source software and readily available electronic devices, as no expensive specialized equipment or proprietary software is required. Such studies state that advances in laboratory titration devices are expected to drive the market's growth.

Furthermore, an increase in research and development activities, as well as the presence of favorable healthcare infrastructure, are driving the overall regional market forward. The DKK-TOA corporation released the MAC-1600, a pH meter with an automatic cleaning/calibration function, in November 2021. This is a pH meter that can be installed in the field and automates electrode cleaning and two-point calibration with JIS standard solution.

Therefore, the abovementioned factors are expected to propel the market's growth during the forecast period. However, a shortage of trained personnel is expected to hamper the market growth.

The automated titration segment is expected to hold a major share in the growth of the studied market during the forecast period. It is mainly due to the rising demand for an automated lab titration process, which favors the desired functionality with minimal human error. Additionally, many research studies proving the effectiveness of the automated titration techniques compared to the manual technique also led to the market demand for automated titration devices. For instance, in September 2020, the article titled 'Comparision of manual and automatic titration' mentioned that automatic titration provides reproducibility, documentation, correction and comparability, and automation capacity, which are not provided by manual titration. Such increasing advantages provided by various research studies are expected to boost the growth of the studied segment, thereby contributing to the market's growth during the forecast period.

Also, the increasing research and development by the key manufacturers to meet the growing demand for lab titration products are expected to drive the segment's growth. For Instance, in November 2020, AMETEK Brookfield Launched Vapor Pro XL Autosampler. The Vapor Pro XL (VPXL) Autosampler increases the efficiency of the Vapor Pro’s cutting-edge moisture-specific analysis technology with its ability to analyze up to 16 samples automatically with individual test profiles.

Thus, the segment is anticipated to witness significant growth over the forecast period due to the abovementioned factors.

United States is likely to command the global market due to technological innovations in lab titration devices. The lab titration devices market is expected to grow due to the increase in the research and development activities in the biopharma sector in United States region. The robust growth of the lab titration devices can be attributed to the rising investment and funding activities for innovative research and the development of structure-based drugs.

According to the Binder Dijker Otte (BDO), United States Reports in 2020, companies listed on the biotechnology index (NBI) average research and development spending increased by 16% in 2020 to XX million USD in United States pharmaceutical industry. Thus, the increasing research and development activities in United States region provide lucrative opportunities for the lab titration devices market. Moreover, the presence of major market players and advanced technologies for product development is expected to mark this region with dominating share.

Additionally, an increase in research and development activities and the presence of favorable healthcare infrastructure are fueling the growth of the overall regional market to a large extent.

The lab titration devices market is fragmented and competitive and consists of several major players. In terms of market share, a few major players dominate the market. Some companies currently dominating the market are ThermoFisher Scientific, Metrohm AG, Xylem Analytic Germany, ECH Scientific, Hanna Instruments, Diagger Scientific Inc, COSA Xentaur, CSC Scientific Company, Hiranuma Sangyo Co., Ltd, and DKK-TOA Corporation.

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