Spectrometry Market: Global Industry Analysis and Forecast (2021-2029)

Spectrometry Market was valued at US$ 13.5 Bn. in 2021. The global Spectrometry Market size is expected to grow at a CAGR of 6.8 % through the forecast period.

Spectrometry Market Overview:

Spectroscopy is used to determine compounds and elements by measuring the radiation emitted by an object or substance within a defined electromagnetic spectrum when the object is exposed to external excitation from another source. Spectroscopic analysis technology plays an important role in the life sciences and analytics industry. Used in a variety of applications, notable areas of applied spectroscopy include industrial chemistry, pharmaceuticals, food, and beverage testing, biotechnology, environmental testing, astronomy, and defense. The increasing demand for drug composition and bimolecular analysis from life sciences and biotechnology are expected to drive the demand for spectroscopic analysis during the forecast period. Spectrometry Market To know about the Research Methodology :- Request Free Sample Report 2021 is considered as a base year to forecast the market from 2022 to 2029. 2021’s market size is estimated on real numbers and outputs of the key players and major players across the globe. The past five years' trends are considered while forecasting the market through 2029. 2021 is a year of exception and analysis, especially with the impact of lockdown by region. Spectrometry Market Covid-19 Impact: The unexpected outbreak of COVID-19 had a major impact on the mass spectrometry market. The market is expected to be adopted in various ways in 2020. The acceptance of mass spectrometry in test applications is high in the healthcare and pharmaceutical, biological research, and food and beverage industries. The need for safety and quality measures in the pharmaceutical industry is increasing due to the development of new drugs, the reuse of new drugs, and the increase in the production of pharmaceutical products. Strict government regulations and increasing demand for quality maintenance in these industries are driving the adoption of mass spectrometry. However, supply chain disruptions and deregulation of pollution monitoring in the petrochemical industry are expected to limit the adoption of mass spectrometers. This has become a potentially valuable device type for monitoring aerosol, droplet, and carrier (ADF) transmissions. In addition, mass mapping by high-resolution mass spectrometry was used to identify and distinguish viral variants of COVID-19. Therefore, the use of Spectro-analytical instruments for research has had a positive impact on the market.

Spectrometry Market Dynamics:

Spectrometry Market Drivers: Spectroscopic analysis technology uses state-of-the-art technology. The innovations in handhelds and portable devices required for the spectroscopy process are driving the International spectroscopy market. These devices have excellent image quality and can be used for sample analysis. Saves time and effort in transporting heavy and bulky samples to the laboratory for chemical analysis. Drug testing and drug discovery, food quality control, radiocarbon dating, environmental testing, and defense industries all use these portable and handheld spectrophotometers. The International spectrometer market is expected to grow with the increasing use of spectrometers in clinical research, protein identification, histology, proteomics, and toxicology. The increasing use of spectroscopic methods for drug discovery, protein testing, raw material testing, quality assurance, and product quality control in the pharmaceutical and biotechnology industries is the main factor behind the growth of the spectroscopic analysis market. It is a driving force. In addition, the rise of research uses of spectroscopic analysis in the pharmaceutical and biotechnology industries for the demand for proteomics, metabolomics, genomics, and personalized therapies is driving opportunities in the spectroscopic analysis market. As a new tool for improved diagnosis, biomarker identification, and disease detection, it is setting a trend in both healthcare and medical research. In addition, the introduction of the USFDA, a strict standard for monitoring dangerous compounds (metals such as arsenic, lead, and mercury) in food and drinking water, encourages the use of these spectroscopic analysis tools. Spectrometry Market Restraints: Spectroscopy equipment is packed with advanced features that make it expensive. Apart from the system cost, the cost of maintaining the system to industry standards is also very high. Demand for mass spectrometers has increased over the years due to technological advances and improved operational efficiency. However, system prices are rising due to technological development. The price of the spectrometer influences the end user's purchasing decision. Pharmaceutical companies need many such systems, which significantly increases the cost of capital. In addition, academic laboratories find it difficult to purchase such a system due to their limited budget. These are the main factors that limit the acceptance of mass spectrometry systems by end-users. The large capital investment required to install and maintain spectrometers is expected to limit the growth of the spectroscopic market. For small diagnostic clinics and laboratories, spectrometers are very expensive. In addition, technological advances have increased the cost of equipment. Spectrometry Market opportunities: Developing countries such as China and India offer a variety of opportunities for the growth of the spectrometry market. Both China and India have seen a very high demand for spectrometers and hybrid spectroscopic analyzers as Greenfield projects have been launched in various end-use industries in these countries. The pharmaceutical industry in these countries is strong and is expected to contribute significantly to the growth of the spectroscopic and chromatographic markets. Leading players in the industry are taking this opportunity to set up new facilities, R&D centers, and innovation hubs to establish partnerships with players in the Asian market. Spectrometry Market Challenges: Efficient use of Spectrometry requires qualified personnel with relevant experience and knowledge. Errors such as samples getting stuck on GC-MS or LC-MS, or problems such as fingerprints or bubbles in the solution can affect the quality of the final result. In addition, in mass spectrometry, sample pre-treatment (including dispensing, dilution, and extraction) is an important step in separating the compound of interest. Eliminate interference that can affect the accuracy of the results. Lack of knowledge about the right choice of technology can also affect results and incur direct and indirect costs to the end-user. Due to the current lack of skilled personnel in method development, validation, operation, and troubleshooting, the growth of the mass spectrometry market is expected to slow slightly over the next few years.

Spectrometry Market Segment Analysis:

Based on Type: the Spectrometry Market is segmented into Molecular spectrometry, mass spectrometry, and atomic spectrometry. Molecular spectrometry dominates the market and will account for the largest revenue share of 39.6% in 2021 due to the widespread application of this technology in the life sciences industry and the commercial availability of technologically advanced products in this segment. rice field. For example, PerkinElmer, Inc. offers an extensive product line of molecular spectrometers, accessories, consumables, software, and informatics. The company offers infrared spectroscopy, fluorescence spectroscopy, ultraviolet-visible (UV-Vis) spectroscopy, FT-IR spectroscopy, and molecular spectroscopy imaging systems. Spectrometry Market Based on Application: The Spectrometry Market is segmented into Pharmaceuticals, clinical diagnosis, environmental testing, and food testing. The Pharmaceutical Analysis Applications segment dominates the market, with the largest revenue share of 37.5% in 2021, and will register the fastest growth rate during the forecast period. Pharmaceutical analysis is a set of procedures used to determine, identify, purify, and quantify a substance, determine the structure of a compound, or separate components of a solution or mixture. Based on the End-User: the Spectrometry Market is segmented into government & academic institutions, pharmaceutical & biotechnology companies, and others. The government and academic sectors dominated the spectroscopic market, with the largest revenue share of 45.5% in 2021. Spectroscopic analysis technology and related products are widely used in various research studies conducted by governments and academic institutions. Therefore, more and more research studies are expected to drive the spectroscopic analysis product market.

Spectrometry Market Regional Insights:

The North America region dominated the market with a 39 % share in 2021. This is due to a large number of major local companies such as Thermo Fisher Scientific, Agilent Technologies, and Waters Corporation. In addition, the presence of several organizations and associations working in the region and taking the initiative to generate and disseminate awareness of new advanced spectroscopic products and techniques. In the Asia-Pacific region, the market is expected to witness the fastest growth rate of the market due to its strong research base for new drug development. This is expected to facilitate the acceptance of this technology in the region. Asian countries such as China, Japan, and India are contributing significantly to market growth by increasing the number of spectroscopic service providers. The objective of the report is to present a comprehensive analysis of the International Spectrometry Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Spectrometry Market dynamic, structure by analyzing the market segments and projecting the Spectrometry Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Spectrometry Market make the report investor’s guide.

Spectrometry Market Scope: Inquire before buying

Global Spectrometry Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2029
Historical Data: 2017 to 2021 Market Size in 2021: US$ 13.5 Bn.
Forecast Period 2022 to 2029 CAGR: 6.8% Market Size in 2029: US$ 24.4 Bn.
Segments Covered: by Type • Product1 • Product2 • Product3 • Product4 • Product5
by Type • Type1 • Type2 • Type3 • Type4 • Type5
by Application • Application1 • Application2 • Application3 • Application4 • Application5

Spectrometry Market by Region

• North America • Europe • Asia Pacific • South America • Middle East and Africa

Spectrometry Market Key Players

• Thermo Fisher Scientific Inc • PerkinElmer Inc • Agilent Technologies • Waters Corporation • Shimadzu Corp. • Bruker Corporation • JEOL Ltd • FLIR Systems. Inc • Endless + Hauser Group • MKS Instruments Inc. • Kore Technology • Danaher Corporation • Leco Corporation • Hiden Analytical • Extrel CMS • AMETEK Process Instrument Frequently Asked Questions: 1] What segments are covered in the Global Spectrometry Market report? Ans. The segments covered in the Spectrometry Market report are based on Type, Application, and End User. 2] Which region is expected to hold the highest share in the Global Spectrometry Market? Ans. The North America region is expected to hold the highest share in the Spectrometry Market. 3] What is the market size of the Global Spectrometry Market by 2029? Ans. The market size of the Spectrometry Market by 2029 is expected to reach US$ 24.4 Bn. 4] What is the forecast period for the Global Spectrometry Market? Ans. The forecast period for the Spectrometry Market is 2022-2029. 5] What was the market size of the Global Spectrometry Market in 2021? Ans. The market size of the Spectrometry Market in 2021 was valued at US$ 13.5 Bn.
1. Global Spectrometry Market Size: Research Methodology 2. Global Spectrometry Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Spectrometry Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Spectrometry Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • Middle East and Africa • South America 3.12. COVID-19 Impact 4. Global Spectrometry Market Size Segmentation 4.1. Global Spectrometry Market Size, by Type (2021-2029) • Molecular Spectrometry • Mass Spectrometry • Atomic Spectrometry 4.2. Global Spectrometry Market Size, by Application (2021-2029) • Hospitals • Clinical Diagnosis • Food testing • Environmental Testing 4.3. Global Spectrometry Market Size, by End User (2021-2029) • Government & academic institution • Pharmaceutical & biotechnology companies • Others 5. North America Spectrometry Market (2021-2029) 5.1. North America Spectrometry Market Size, by Type (2021-2029) 5.1.1. Molecular Spectrometry 5.1.2. Mass Spectrometry 5.1.3. Atomic Spectrometry 5.2. North America Spectrometry Market Size, by Application (2021-2029) 5.2.1. Hospitals 5.2.2. Clinical Diagnosis 5.2.3. Food testing 5.2.4. Environmental Testing 5.3. North America Spectrometry Market Size, by End User (2021-2029) 5.3.1. Government & academic institution 5.3.2. Pharmaceutical & biotechnology companies 5.3.3. Others 5.4. North America Semiconductor Memory Market, by Country (2021-2029) • United States • Canada • Mexico 6. European Spectrometry Market (2021-2029) 6.1. European Spectrometry Market, by Type (2021-2029) 6.2. European Spectrometry Market, by Application (2021-2029) 6.3. European Spectrometry Market, by End User (2021-2029) 6.4. European Spectrometry Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Spectrometry Market (2021-2029) 7.1. Asia Pacific Spectrometry Market, by Type (2021-2029) 7.2. Asia Pacific Spectrometry Market, by Application (2021-2029) 7.3. Asia Pacific Spectrometry Market, by End User (2021-2029) 7.4. Asia Pacific Spectrometry Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Spectrometry Market (2021-2029) 8.1. Middle East and Africa Spectrometry Market, by Type (2021-2029) 8.2. Middle East and Africa Spectrometry Market, by Application (2021-2029) 8.3. Middle East and Africa Spectrometry Market, by End User (2021-2029) 8.4. Middle East and Africa Spectrometry Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Spectrometry Market (2021-2029) 9.1. South America Spectrometry Market, by Type (2021-2029) 9.2. South America Spectrometry Market, by Application (2021-2029) 9.3. South America Spectrometry Market, by End User (2021-2029) 9.4. South America Spectrometry Market, by Country (2021-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1. Thermo Fisher Scientific Inc 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. PerkinElmer Inc 10.3. Agilent Technologies 10.4. Waters Corporation 10.5. Shimadzu Corp. 10.6. Bruker Corporation 10.7. JEOL Ltd 10.8. FLIR Systems. Inc 10.9. Endless + Hauser Group 10.10. MKS Instruments Inc. 10.11. Kore Technology 10.12. Danaher Corporation 10.13. Leco Corporation 10.14. Hiden Analytical 10.15. Extrel CMS 10.16. AMETEK Process Instrument

About This Report

Report ID 99483
Category Healthcare
Published Date July 2022
Updated Date
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