Dublin, Nov. 23, 2021 (GLOBE NEWSWIRE) -- The "Global Spectrometry Market Size, Share & Trends Analysis Report by Type, by Product, by Application (Pharmaceutical Analysis, Forensic Analysis, Proteomics, Metabolomics), by End-use, by Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global spectrometry market size is expected to reach USD 24.5 billion by 2028 and is expected to expand at a CAGR of 7.2% from 2021 to 2028
Key players offer technologically advanced spectrometry products for several healthcare applications and have collaborated with research institutes to develop novel products.
The market is expected to show potential growth in the coming future owing to the introduction of healthcare services using MALDI-TOF mass spectrometry (MS) by key players operating in the market.
For instance, in November 2020, Shimadzu Corporation launched the Amyloid MS service for the early diagnosis of amyloid-positive patients in the U.S. The analysis of blood is performed using a combination of MALDI-TOF MS (IP-MS) and immunoprecipitation.
Furthermore, spectrometers are widely used in drug discovery and research and development to study Drug Metabolism and Pharmacokinetics (DMPK) profiles and to study Absorption, Distribution, Metabolism, Excretion, and Toxicity (ADMET) properties of new molecular entities.
Hence, the application of spectrometry in drug development is anticipated to show potential growth during the forecast period.
Spectrometry Market Report Highlights
- The Mass Spectrometry (MS) segment is anticipated to witness the fastest CAGR during the forecast period owing to continuous advancements in the technology
- The MALDI-TOF MS is a major contributor to the high growth of the MS segment, owing to the introduction of new accessories for MALDI-TOF MS which expands the application range of this technology
- The instrument segment dominated the market in 2020. The key players offering extensive instruments for specialized application contribute to the large segment share
- Although the availability of various spectrometers is high, many research entities are unable to adopt them owing to a high cost of systems and lack of skilled professionals
- Therefore, research entities approach organizations that offer spectroscopy services, which, in turn, is expected to drive the services segment over the forecast period
- Pharmaceutical analysis occupied a major portion of the revenue generated by the application segment as spectrometer is commonly used in the quality assurance and quality control departments of pharmaceutical companies
- Additionally, ongoing innovation in the technology specialized for pharmaceutical application contributes to the fastest growth of the segment
- The government and academic institutions segment generated the largest revenue in 2020 as researchers from various government and academic institutions are engaged in several research studies based on spectroscopy
- For instance, the National Institute of Environmental Health Sciences has a support group named The NIEHS Mass Spectrometry Research and Support Group which helps the researchers by providing a broad range of MS analyses
- In Asia Pacific, the market is expected to register a lucrative growth rate throughout the forecast period owing to the initiatives taken by various organizations and associations to train and educate young scientists in this region
- These bodies also organize conferences to exhibit the latest MS research from the Asian region and to educate the young scientist through assemblies and the Young Scientist Forum
- For instance, in January 2020, the mass spectrometry societies in Oceania and the Asian region organized Asia-Oceania Mass Spectrometry Conference (AOMSC) in Macau to showcase the applications and fundamentals of MS
- Major market participants such as Thermo Fisher Scientific, Inc., Agilent Technologies, Waters Corporation, and Shimadzu Corporation, have undertaken strategic initiatives to strengthen their position in the market
- For instance, in November 2020, Waters Corporation launched RADIAN ASAP System, a new direct mass detector intended for non-MS. This new system can perform accurate and fast analysis of liquids and solids with minimum sample prep. Additionally, the RADIAN ASAP system has applications in pharmaceuticals, forensics, academia, and chemicals and materials
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends, & Scope
3.1 Market Lineage Outlook
3.1.1 Parent market outlook
3.1.2 Related/ancillary market outlook
3.1.2.1 Pharmaceutical Manufacturing Market
3.1.2.2 Proteomics Market
3.1.2.3 Nucleic Acid Isolation And Purification Market
3.2 Market Trends & Outlook
3.3 Spectrometry Market: Segment Outlook, 2017 - 2028
3.4 Market Dynamics
3.4.1 Market Driver analysis
3.4.1.1 Technological advancements in spectrometry system
3.4.1.2 Increasing R&D Spending by pharmaceutical industry & government research organizations
3.4.1.3 Increase in the awareness, usage, and adoption of spectrometry among end-users
3.4.2 Market restraint analysis
3.4.2.1 High cost of spectrometry systems
3.4.2.2 Complexity in operating the spectrometry system
3.4.3 Market Opportunity analysis
3.4.3.1 Increasing preference for advanced portable/handheld spectrometry system
3.4.4 Market Threat analysis
3.4.4.1 Lack of skilled workforce
3.5 Penetration & Growth Prospect Mapping for Type, 2020
3.6 Technology Overview
3.7 Impact of COVID-19 on Spectrometry Market
3.8 Business Environment Analysis
3.8.1 SWOT Analysis; By factor (Political & Legal, Economic and Technological)
3.8.2 Porter's Five Forces Analysis
3.9 Competitive Analysis
3.9.1 Strategy Framework
3.9.2 Market Participation Categorization
3.9.3 Major Deals & Strategic Alliances
Chapter 4 Type Business Analysis
4.1 Spectrometry Market: Type Movement Analysis, 2020 & 2028
4.2 Molecular Spectrometry
4.2.1 Molecular Spectrometry market, 2017 - 2028 (USD Million)
4.2.2 Visible and ultraviolet spectroscopy
4.2.3 Infrared spectroscopy
4.2.4 Nuclear Magnetic Resonance (NMR) spectroscopy
4.3 Mass Spectrometry
4.3.1 Mass Spectrometry market, 2017 - 2028 (USD Million)
4.3.2 MALDI-TOF mass spectrometry
4.3.3 Triple quadrupole mass spectrometry
4.3.4 Quadrupole-trap mass spectrometry
4.3.5 Hybrid linear ion trap orbitrap mass spectrometry
4.3.6 Quadrupole-orbitrap mass spectrometry
4.4 Atomic Spectrometry
4.4.1 Atomic Absorption Spectrometry market, 2017 - 2028 (USD Million)
4.4.2 Atomic Absorption Spectroscopy (AAS)
4.4.3 Atomic emission spectroscopy (AES)
4.4.4 Atomic fluorescence spectroscopy (AFS)
4.4.5 X-ray fluorescence (XRF)
4.4.6 Inorganic mass spectroscopy
Chapter 5 Product Business Analysis
5.1 Spectrometry market: Product Movement Analysis, 2020 & 2028
5.2 Instrument
5.3 Consumables
5.4 Services
Chapter 6 Application Business Analysis
6.1 Spectrometry market: Application Movement Analysis, 2020 & 2028
6.2 Proteomics
6.3 Metabolomics
6.4 Pharmaceutical Analysis
6.5 Forensic Analysis
Chapter 7 End-use Business Analysis
7.1 Spectrometry Market: End-use Movement Analysis, 2020 & 2028
7.2 Government & Academic Institutions
7.3 Pharmaceutical & Biotechnology Companies
Chapter 8 Regional Business Analysis
8.1 Spectrometry Market: Regional Movement Analysis, 2020 & 2028
Chapter 9 Competitive Landscape
- Thermo Fisher Scientific, Inc.
- PerkinElmer, Inc.
- Agilent Technologies
- Waters Corporation
- Shimadzu Corporation
- Bruker Corporation
- JEOL Ltd.
- FLIR Systems, Inc.
- Endress+Hauser Group
- MKS Instruments, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/8vlgci
