(PharmaNewsWire.Com, April 27, 2020 ) The global market for tensiometer is primarily driven by the need to improve product quality and manufacturing processes, increasing pharmaceutical and biopharmaceutical R&D expenditure, and technological advancements. However, the reluctance to switch from conventional methods and a dearth of skilled personnel will challenge market growth.
Tensiometer Market by Product (Optical, Force, Volumetric, Bubble Pressure Tensiometer, Accessories), Industry (Chemical, Oil & Gas, Energy, Pharmaceutical, Medical Devices, Cosmetics, Research Laboratory), Region - Global Forecast to 2024
The global Tensiometer Market is expected to reach USD 151 million by 2024 from an estimated value of USD 103 million in 2019, growing at a CAGR of 7.9% during the forecast period.
On the basis of product, the tensiometer market is segmented into optical tensiometers, force tensiometers, volumetric tensiometers, bubble pressure tensiometers, and accessories. The optical tensiometers segment accounted for the largest market share in 2018. The large share of this segment is mainly attributed to the large adoption of optical tensiometers in the chemical, oil & gas, energy, pharmaceutical, and material & coating industries in the R&D and quality control of products.
On the basis of industry, the tensiometer market is segmented into chemical, oil & gas, energy, pharmaceutical & biopharmaceutical, Medical Device, cosmetic, and other industries (food & beverage, materials & composite, textile, and paper & packaging industries). The chemical industry segment accounted for the largest share of the tensiometers market in 2018.
Regional Analysis:
The market is segmented into five major regions, namely, North America, Europe, the Asia Pacific (APAC), Latin America, and the Middle East & Africa. In 2018, Asia Pacific accounted for the largest share of the tensiometer market. The factors such as chemical production growth in China, growth in Indian oil & gas industry, increasing demand for primary energy in India, and growth in medical device & pharmaceutical market in Asia are driving the growth of the tensiometer industry in this region.
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