Spectrometry Market: Current Analysis and Forecast (2021-2027)

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Emphasis on Product (Instruments, Consumables, Services); Type (Molecular Spectrometry, Mass Spectrometry, and Atomic Spectrometry); Application (Proteomics, Metabolomics, Pharmaceutical Analysis, Others); End-Users (Government & Academic Institutions, Pharmaceutical & Biotechnological Companies, Others); Region and Country

Detailed Analysis of COVID-19 Impact on the Spectrometry Market

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247

Table:

43

Figure:

137

Report ID:

UMHE21926

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Research Methodology

Report Description

Spectrometry Market
Spectrometry Market

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Global Spectrometry Market is anticipated to grow with an elevated CAGR of around 7% over the forecast period (2021-2027). Spectrometry is a technique for studying and measuring a specific spectrum and is usually used for the spectroscopic analysis of sample materials. These are of different types such as molecular, mass, and atomic spectroscopy techniques based on the sample that is to be tested.

The surging prevalence of various rare diseases and rising investment in research & development of pharmaceutical & biotechnology companies, the spectrometry market is witnessing an uptick all over the globe. For instance, the Pharmaceutical Research and Manufacturers of America (PhRMA) trade group represents the leading biopharmaceutical research companies in the United States. In 2019, the research and development (R&D) expenditure of its member companies reached USD 83 billion worldwide, up from USD 79.6 billion in 2018. Furthermore, the growing focus on the launch of new drugs owing to the support by the government for research and investments and the need for pharmaceutical analysis is also propelling the growth of this market.

Furthermore, with the rapid advancement in technology and rising investment in R&D for introducing new and advanced devices, many industry players are focusing on expanding their product portfolio by launching new products in the market due to which the spectrometry market is expected to grow across the globe. For example, in November 2021, Thermo Fisher Scientific launched its new mass spectrometry (MS) instruments, workflows, and software. The company’s Orbitrap Exploris MX mass detector allows biopharmaceutical laboratories to implement a multi-attribute method (MAM) and perform intact analysis of monoclonal antibodies, conduct oligonucleotide mass determination, and carry out peptide mapping.

Thermo Fisher Scientific, PerkinElmer, Inc., Agilent Technologies, Waters Corporation, Shimadzu Corporation, Danaher Corporation, Leco Corporation, Bruker Corporation, Endress+hauser group, Kore Technology, are some of the prominent players operating in the spectrometry market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with spectrometry.

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Insights Presented in the Report

“Amongst Product, instruments segment holds the major share”

Based on product, the spectrometry market is segmented into instruments, consumables, and services. The instrument segment accounted for the largest market share in 2020 and it is estimated that it will exhibit a significant CAGR during the forecast period owing to the expanded application of spectrometry in the field of biotechnology. Furthermore, the rising cancer prevalence and growing adoption of the mass spectrometry for proteomic analysis for the characterization of adoptive cell therapies in cancer treatment such as CAR-T cell therapy are some of the prominent reasons that will positively impact the growth of this segment in the forthcoming years.

“Amongst Type, molecular spectrometry segment holds the major share”

Based on the type, the spectrometry market is segmented into molecular spectrometry, mass spectrometry, and atomic spectrometry. The molecular spectrometry segment occupied a substantial share of the spectrometry market in 2020 and it is expected to grow considerably in the upcoming years to the wide array of applications of this technique in the pharmaceutical & biotechnology industries and the commercial availability of technologically advanced products in the market. However, the mass spectrometry segment is expected to grow with a significant CAGR in the coming years owing to the technological advancements in the mass spectroscopy technique enabling the rapid delivery of test results with high resolutions.

“Amongst Application, pharmaceutical analysis segment holds the major share”

Based on application, the market is fragmented into proteomics, metabolomics, pharmaceutical analysis, and others. In 2020, the pharmaceutical analysis application segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period as spectrometry techniques have a wide range of applications in the pharmaceutical industries. For example, Liquid chromatography-mass spectrometry (LC-MS) technology was used to quantify anti-COVID-19 drug remdesivir in patients and to determine its efficacy to treat disease.

“Amongst End-Users, government & academic institutions segment holds the major share”

Based on end-users, the market is fragmented into government & academic institutions, pharmaceutical & biotechnological companies, and others. In 2020, the government & academic institutions segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. The growth of this segment is attributed to the growing focus on research & development and the wide usage of spectrometry techniques in various research studies conducted by government & academic institutions. However, the pharmaceutical & biotechnological companies segment is anticipated to grow with a lucrative CAGR during the projected timeframe.

“North America represents one of the largest markets of spectrometry market”

For a better understanding of the market dynamics of the spectrometry market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America constitutes a significant share of the spectrometry industry in 2020 owing to the flourishing pharmaceutical & biotechnology industry and the presence of a well-established research infrastructure.

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  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry


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1.1.   Market Definitions
1.2.   Limitation
1.3.   Stake Holders
1.4.   Currency used in Report
2.1.   Research Process of the Spectrometry Market
2.2.   Research Methodology of the Spectrometry Market
2.3.   Forecasting Method
2.4.   Respondent Profile
2.5.   Main Objective of the Spectrometry Market Study
3.      MARKET SYNOPSIS
4.      EXECUTIVE SUMMARY
5.      GLOBAL SPECTROMETRY MARKET COVID-19 IMPACT
6.      GLOBAL SPECTROMETRY MARKET REVENUE, 2019-2027F
7.1.   Molecular Spectrometry
7.2.   Mass Spectrometry
7.3.   Atomic Spectrometry
8.1.   Instrument
8.2.   Consumables
8.3.   Services
9.1.   Proteomics
9.2.   Metabolomics
9.3.   Pharmaceutical Analysis
9.4.   Others 
10.1.                  Government & Academic Institutions
10.2.                  Pharmaceutical & Biotechnology Companies
10.3.                  Others 
11.1.                  North America Spectrometry Market 
11.1.1.   United States
11.1.2.   Canada 
11.1.3.   Rest of North America
11.2.                  Europe Spectrometry Market 
11.2.1.   Germany 
11.2.2.   France 
11.2.3.   U.K. 
11.2.4.   Italy 
11.2.5.   Spain 
11.2.6.   Rest of Europe
11.3.                  Asia Pacific Spectrometry Market
11.3.1.   China 
11.3.2.   Japan 
11.3.3.   India 
11.3.4.   Australia 
11.3.5.   Rest of Asia Pacific
11.4.                  Rest of World Spectrometry Market
12.1.                  Market Drivers
12.2.                  Market Challenges
12.3.                  Impact Analysis
13.  SPECTROMETRY MARKET OPPORTUNITIES
14.  SPECTROMETRY MARKET TRENDS
15.  LEGAL & REGULATORY FRAMEWORK
16.1.                  Demand Side Analysis
16.2.                  Supply Side Analysis
17.  VALUE CHAIN ANALYSIS
18.1.                  Porter’s Five Forces Analysis
19.1.                  Thermo Fisher Scientific
19.2.                  PerkinElmer, Inc.
19.3.                  Agilent Technologies
19.4.                  Waters Corporation
19.5.                  Shimadzu Corporation
19.6.                  Danaher Corporation
19.7.                  Leco Corporation
19.8.                  Bruker Corporation
19.9.                  Endress+hauser group
19.10.               Kore Technology
20.  DISCLAIMER

Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the global spectrometry market were the three major steps undertaken to create and analyze the adoption of spectrometry in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global spectrometry market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the spectrometry through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the spectrometry market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as product, type, application, and end-users. Further country-level analyses were conducted to evaluate the overall adoption of spectrometry across the globe.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the spectrometry. Further, we conducted factor analysis using dependent and independent variables such as product, type, application, and end-users. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the spectrometry sector across the globe.

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Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the spectrometry market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and the adoption rate of spectrometry across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the spectrometry market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market


Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Spectrometry Market
Spectrometry Market

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Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the spectrometry market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product, applications, type, and end-users of the spectrometry market.

The main objective of the Spectrometry Market Study

The current & future market trends of spectrometry were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of spectrometry in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of product, applications, type, and end-users
  • Define and analysis of the regulatory framework for the spectrometry industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the spectrometry market for the major region
  • Major regions studied in the report include North America, Europe, Asia-Pacific, and Rest of the world
  • Company profiles of the spectrometry market and the growth strategies adopted by the market players to sustain in the fast-growing market
  • Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
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