Global Spectrometry Market to Surpass US$ 31,035.7 Million by 2027, Says Coherent Market Insights (CMI)
According to Coherent Market Insights, the global spectrometry market is estimated to be valued at US$ 18,856.3 million in 2020 and is expected to exhibit a CAGR of 7.4 % during the forecast period (2020-2027).
Key Trends and Analysis of the Global Spectrometry Market:
The global spectrometry market is expected to witness significant growth owing to launch of spectrometers. For instance, in July, 2020, SCIEX, a subsidiary of Danher Corporation, launched Triple Quad 7500 LC-MS/MS System mass spectrometer which includes a linear dynamic range of up to six orders of magnitude, surpassing existing sensitivity parameters to quantify at lower levels with precision.
Moreover, the increasing prevalence of metabolic disorders is expected to propel growth of the global spectrometry market during the forecast period. According to the International Diabetes Federation Diabetes Atlas, 9th edition, an article published in the journal Diabetes Research and Clinical Practice in September 2019 - global and regional prevalence of diabetes, estimates for 2019 and projections for 2030 and 2045, 463 million people are expected to suffer from diabetes in 2019 worldwide and the number is expected to reach 578 million by 2030 and 700 million by 2045.
Among region, North America is expected to hold dominant position in the global spectrometry market during the forecast period owing to research and development activities, approval of biopharmaceutical drugs, investments in R&D, and early adoption of advanced spectrometry products in the region. According to Pharmaceutical Research and Manufacturers of America (PhRMA) report published in 2019, stated that biopharmaceutical companies sponsored over 4,500 clinical trials in the U.S. and invested around US$ 15 Bn in site-based clinical research activities in 2019.
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Key Market Takeaways:
The global spectrometry market is expected to exhibit a CAGR of 7.4 % during the forecast period, as key players are focusing on product approval and launch. For instance, in September 2019, AB SCIEX, LLC received ANVISA approval for its several LC-MS/MS systems for market access in Brazil. These systems include SCIEX Triple Quad 4500MD LC-MS/MS, QTRAP 4500MD LC-MS/MS, Topaz, and Citrine systems.
Key players operating in the global spectroscopy market are ThermoFisher Scientific Inc., Adeptrix Corp, Analytik Jena AG., Bio-Rad Laboratories, Inc., Bruker Corporation, Danaher Corporation, PerkinElmer, Inc., Siemens Healthcare, Waters Corporation, Agilent Technologies, Inc., Shimadzu Corporation, and Advion, Inc.
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Market Segmentation:
Global Spectrometry Market, By Product Type :
Atomic Spectroscopy
Atomic Absorption Spectroscopy
X- Ray Diffraction
Implantable
X-Ray Fluorescence
Inductively Coupled Plasma
Ark Spark
Elemental Analyzers
ICP-MS
Mass Spectroscopy:
TANDEM LC/MS
Liquid Chromatography
Gas Chromatography
MALDI – TOF
Fourier Transform
Single Quadrupole
Molecular Spectroscopy:
NMR
UV Visualization
Infrared
Color Measurement
Near Infrared
Raman
By End User :
Biopharmaceutical Industries
Research & Academic Institutes
Others
By Region:
North America
By Country:
U.S.
Canada
Latin America
By Country:
Brazil
Mexico
Argentina
Rest of Latin America
Europe
By Country:
Germany
U.K.
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific
By Country:
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Middle East
By Country:
GCC
Israel
Rest of Middle East
Africa
By Country/Region:
South Africa
Central Africa
North Africa
Related Market Intelligence Report:
Liquid Chromatography Mass Spectrometry (LCMS) Market, by Type (Single Quadrupole LC-MS, Triple Quadrupole LC-MS, and Ion Trap LC-MS), by Sensitivity (High Flow, Micro Flow, and Nano Flow), by End User (Biotechnology and Pharmaceutical Industry, Hospital and Research Laboratories, and Academic and Research Institutes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027
About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.
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