Spectrometry Market to cross the value of US$ 13.8 bn by the end of 2028, Says TMR Study
- Increase in use of spectrometry devices in manifold end-use industries is fueling sales opportunities in the global market
- Rise in technological advancements in the field of spectrometry is driving the growth of the spectrometry market
ALBANY, N.Y., April 12, 2022 /PRNewswire/ — The global spectrometry market is estimated to register growth at a CAGR of 6.4% during the forecast period from 2021 to 2028, as per analysts of a study by Transparency Market Research (TMR).
Spectrometry instruments are being adopted in a wide range of end-use industries for different purposes, including environmental testing, research activities, and in the food & beverage industry. Hence, rising demand for these devices from different industries is expected to fuel the expansion of the global spectrometry market during the forecast period.
Government authorities of many nations across the globe have implemented stringent guidelines intended for monitoring the water and soil samples. This factor is playing important role in the rising sales of spectrometry devices, which, in turn, is propelling the global spectrometry market.
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Companies operating in the global spectrometry market are increasing cash in-flow toward the development of technologically products. Moreover, rise in technological advancements in varied spectrometry procedures across the globe is resulting in profitable prospects in the market for spectrometry. Atomic spectrometers are gaining popularity, owing to their ability to offer detailed data on elemental composition of samples. This technique is based on emissions of light that are distinctive of elements existing in a sample, states a TMR report on the global spectrometry market.
Spectrometry Market: Key Findings
- Portable and handheld spectrometry tools are gaining immense popularity in a wide range of end-use industries, owing to their ability to offer many advantages such as improved imaging quality. Moreover, these devices are being increasingly utilized, as they assist in the onsite sample analysis. Owing to these techniques, there is no need to transport bulky and heavy samples to laboratories in order to perform tests, notes a TMR study on the global spectrometry market. Therefore, there has been a surge in the use of portable and handheld spectrometry devices for the identification of food, drugs inspection, defense industries, and environmental monitoring.
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- Spectrometry devices find a wide application in toxicology, tissue analysis, disease marker, and proteomics. Moreover, such devices are being utilized in the healthcare industry across varied R&Ds. These factors are creating profitable prospects for spectrometry device manufacturers and help the global spectrometry market to gain the valuation of over US$ 13.8 Bn by 2028.
Spectrometry Market: Growth Boosters
- Rise in use of spectrometry devices in biotechnology and pharmaceutical industries is generating lucrative prospects in the global spectrometry market
- Growth in use of spectrometry tools in food & beverages, industrial chemistry, and environmental testing industries are propelling the global spectrometry market
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Spectrometry Market: Regional Analysis
- The North America spectrometry market is prognosticated to maintain leading position during the forecast period due to factors such as increase in spending on R&Ds, favorable financial support environment in comparison with other regions, and presence of many research institutes in the region
- The spectrometry market in Asia Pacific is projected to expand in the upcoming years, owing to increasing investments in R&D related activities in many emerging nations, including India, China, Indonesia, Thailand, Malaysia, and Japan. Furthermore, the regional spectrometry market is being driven by increase in government funding for different projects.
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Spectrometry Market: Key Players
Some of the key players profiled in the report are:
- Shimadzu
- Bruker
- Agilent Technologies
- Waters Corporation
- AB Sciex
- PerkinElmer
Spectrometry Market Segmentation
Technology
- Atomic Spectroscopy
- Molecular Spectroscopy
- Mass Spectroscopy
Application
- Pharmaceuticals
- Biotechnology
- Industrial Chemistry
- Environmental Testing
- Food & Beverage Testing
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:
Mass Spectrometry Market: Increasing usage of the mass spectrometry technique, especially in the life sciences industry including pharmaceutical manufacturing, biotechnology, and other disciplines; rising demand for new and advanced instruments and equipment from end-users across the world.
Atomic Emission Spectrometry Market: Development in the technology is resulting in increased availability of the portable and user friendly atomic spectroscopy instruments. In addition, technology advancement is also resulting in expansion of the application area of the atomic emission spectrometry (AES) market into biotechnology, pharmaceutical chemistry, environmental testing, and clinical applications including proteomics, tissue analysis and toxicology.
Mass Spectrometry in Protein Biomarker Market: Rise in prevalence of cancer across the world and increase in demand for protein biomarker in different disease diagnosis and treatment are some of the major factors responsible for the growth of global mass spectrometry in protein biomarker market.
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