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The Load Monitoring System Market is estimated to grow from US$ 2.6 Billion in 2018 to US$ 3.3 Billion by 2024, at a CAGR of 4.0% during the forecast period. The key factors driving the growth of the market include rise in demand for load monitoring system in healthcare, increase in use of load monitoring system for testing and monitoring aircraft parts, decline in instrumental errors owing to technological innovations in load cells, and increase in demand for remote load monitoring.
The load monitoring system market for the healthcare industry is expected to grow at the highest CAGR from 2018 to 2024. The development in technology and functionality of medical devices and digitization in healthcare operations are the factors fuelling the growth of load cells in the healthcare industry. The use of load monitoring system plays a vital role in R&D process of pharmaceutical manufacturing as scientists have to precisely weigh chemicals and substance samples.