The rise in demand for osmometers is primarily due to the increase in research and development activities and the number of clinical labs, biopharmaceutical labs are the fueling factors for the osmometers market. In addition, growing healthcare spending and demand for advanced laboratory equipment for accurate analysis and results for better clinical outcomes are few other factors that are positively impacting the market growth. Furthermore, advanced technologies in osmometer devices coupled with the launch of new products are taking the osmometry to higher levels. However, the limitations associated with various techniques of osmometry and the dearth of skilled professionals are expected to impede the market growth.
Key Market Trends
Freezing Point Osmometers are Expected to Have Healthy Growth Rate
- Freezing point osmometers are most prefered osmometers in the market owing to the factors such as ease of use and independence of physical nature of the compound.
- Furthermore, advancements in freezing point osmometer technologies are expected to boost the segment growth over the forecast period.
- The automation in clinical equipment and growing demand for automated equipment such as multi-sample osmometers are expected to boost the multi-sample osmometers market over the forecast period.
- Growing disease burden all over the world along with increasing demand for the advanced and well equipped clinical laboratories for better clinical outcomes are some of factors that are acceleating the market growth.
- Rapidly increasing R&D expenditure from the companies is also contributing to the novel devices that are technologically advanced.
North America Projected to Grow at Significant Rate
North America region is expected to have significant market growth over the forecast period. Factors such as high healthcare expenditure, growing adaptation of automated healthcare equipment in clinical laboratories and hospitals and technological advancements in the region are expected to boost the regional growth. According to the Congressional Research Service, 28% of World’s R&D investment is from the United States alone.
Europe is also projected to have significant market share due to the high rate of research and development and the presence of well-established healthcare infrastructure in major countries of the region. Asia-Pacific is projected to have conisderable growth rate owing to the need for automation in the clinical laboratory, increasing disposable income and rising spending on healthcare.
Osmometers market is highly fragmented having a majority number of local or regional players. Market players are focusing on innovative product launches and geographic expansions. The market players operating in the market are Advanced Instruments LLC., Precision Systems Inc., ELITechGroup, ARKRAY, Inc., and Gonotec GmbH.
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