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Osmometer Market Size is expected to grow exponentially between 2021 and 2027 on account of the mount in the number of clinical labs and biopharmaceutical companies. The rising instances of R&D activities have made way for the surge in technological developments. The growing obligation for better clinical outcomes has led to the increasing usage of advanced laboratory equipment to offer accurate analysis. Furthermore, the soaring levels of healthcare spending will lead to industry progression.
Osmometer is mainly an analytical instrument that is widely adopted to estimate the osmotic pressure of several solutions, colloids, and compounds. The increasing efforts undertaken by manufacturers to come up with various effective devices will favor the market growth.
The freezing point osmometer market is slated to record a significant revenue share through 2027 due to rising penetration in pharmaceutical research, clinical chemistry labs, and quality control labs. Given their user-friendly operational modes and ease of use, these osmometers are gaining popularity as industry-preferred solutions. Besides, as freezing point osmolality is independent of various physical characteristics of liquid solutions, it is increasingly adopted over its vapor pressure and membrane counterparts. The growing disease prevalence worldwide has led to the higher requirement for modern and improved clinical laboratories to offer enhanced clinical outcomes. The influx of the latest freezing point osmometer technologies along with growing R&D expenditure will add to the product demand spurt.
The adoption of osmometers in clinical labs is anticipated to observe considerable growth. This is owing to the growing focus on products that offer analytical performance and ease of use across these settings. The rise in the number of innovations and novel product launches will fuel the market expansion.
The market demand across pharmaceutical and biotechnology companies will see expansion with increasing acceptance for reduced batch failures. Osmometers are marking extensive presence across pharmaceutical firms to provide a quality check and process control in the development and production of biologics. Increasing emphasis of these companies on introducing quality therapeutics and the rising efforts towards accurate patient results will drive the market prominence in the coming years.
North America osmometer market is set to show considerable growth led by the robust presence of key manufacturers and the rising healthcare expenditure. The surging need for laboratory automation, mainly across the developed economies has led to the higher influx of advanced technologies. The increasing penetration of automated healthcare devices in clinical laboratories and hospitals will foster the regional progression.
Leading participants in the osmometer market include Loser Messtechnik, Precision Systems, Knauer, Shanghai Medical University Instrument, Elitech Group, Gonotec, Advanced Instruments, Tianjin Tianhe, and Arkray.
Strategic partnerships, such as mergers, and acquisitions, along with new product developments, investments, and capacity expansions are some of the major initiatives taken up by these companies to strengthen their foothold in highly competitive business landscape.
For instance, in July 2021, ELITechGroup, acquired GONOTEC to provide a full range of osmometry solutions to meet the specific requirements for enabling physicians to diagnose the disease accurately and rapidly for determining the proper course of patient treatment.
In another instance, in September 2020, Advanced Instruments announced the launch of OsmoTECH XT Single-Sample Micro-Osmometer, its latest biotech instrument portfolio. The novelty is based on freezing point depression technology and helps to accurately measure a wide range of sample types.
The COVID-19 crisis not only added to a massive global economic turbulence but also paved the way for numerous setbacks across a spread of industries in most parts of the world. However, the utility of osmometers significantly ramped up during the outbreak. Simple and cost-effective osmolality testing was adopted worldwide for assisting in managing patient treatments. Increasing use for diagnosing and treating Hyponatremia in the affected patients led to enhance the industry growth.
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