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Spectrometry Market

Global spectrometry market is expected to foresee significant growth during the forecast period. North America to witness the highest growth

Global spectrometry market is expected to grow significantly by 2027 expanding at a reasonable CAGR of around 7% during 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.

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The global spectrometry market is anticipated to witness an uptick owing to the increase in expenditure on pharmaceutical R&D across the globe. For instance, In 2019, research and development spending in the pharmaceutical industry was USD 186 billion globally. In comparison, the R&D expenditures totaled USD 159 billion in 2016. Further, this spending is anticipated to reach USD 233 billion by 2026. Owing to this, there has been an increase in the number of drug launches and drug approvals over the last few years. In addition to this, the advancement in the pharma and medical field, the flourishing biotechnology industry, and the growing acceptance of personalized medicine are some factors driving the growth of the spectrometry market globally.

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Based on product, the market is segmented into instruments, consumables, and services. The instruments 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.

Based on the type, the global spectrometry market is segmented into molecular spectrometry, mass spectrometry, and atomic spectrometry. Molecular spectrometry occupied a substantial share and is expected to grow at a lucrative CAGR during the forecast period 2021-2027 owing 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 the considerable CAGR in the coming years.

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Additionally, the report provides detailed report also provides insights into the global spectrometry market according to the regions such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America to witness exponential growth during the forecast period owing to the well-established market players and frequent product launches.

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 key players operating in the global spectrometry market. Several M&As along with partnerships have been undertaken by these players to develop spectrometry.

Global Spectrometry Market Segmentation

Market Insight, by Product

  • Instrument
  • Consumables
  • Services

Market Insight, by Type

  • Molecular Spectrometry
  • Mass Spectrometry
  • Atomic Spectrometry

Market Insight, by Application

  • Proteomics
  • Metabolomics
  • Pharmaceutical Analysis
  • Others

Market Insight, by End-Users

  • Government & Academic Institutions
  • Pharmaceutical & Biotechnology Companies
  • Others

Market Insight, by Region

  • North America
    • United States
    • Canada
    • Rest of North America
  • Europe
    • France
    • Germany
    • Italy
    • Spain
    • United Kingdom
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Australia
    • Japan
    • Rest of Asia-Pacific
  • Rest of World

Top Company Profiles

  • Thermo Fisher Scientific
  • PerkinElmer, Inc.
  • Agilent Technologies
  • Waters Corporation
  • Shimadzu Corporation
  • Danaher Corporation
  • Leco Corporation
  • Bruker Corporation
  • Endress+hauser group
  • Kore Technology

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