SEATTLE, Feb. 07, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global spectrometry market is estimated to be valued at US$ 20,172.1 Million in 2021 and is expected to exhibit a CAGR of 7.4% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Spectrometry Market:
Increasing number of approvals and launches for spectrometers is expected to drive the growth of the global spectrometry market. 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. SCIEX 7500 System’s New OptiFlow Pro Ion Source increases productivity and decreases the need for extensive sample preparation. This device has software features and functions which will helpful for quick, accurate and confident data review on system.
In addition, increasing prevalence of metabolic disorders which includes high blood sugar, high blood pressure, and excess body fat, abnormal cholesterol or triglyceride levels is further expected to propel the growth of global spectroscopy market. For instance, in September 2019, according to the International Diabetes Federation Diabetes Atlas, 9th edition, an article published in the journal Diabetes Research and Clinical Practice, 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.
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Key Market Takeaways:
The global spectrometry market is expected to exhibit a CAGR of 7.4% during the forecast period, owing to key players operating in the market are focusing on technological advancements of existing products in order to strengthen their product portfolio. For instance, in February 2019, Waters Corporation, a designer and manufacturer of analytical science solutions, announced a partnership with Andrew Alliance S.A., a robotics company that develops innovative products for better performance and enhanced speed of liquid handling. The new partnership is for improving laboratory operations in the field of liquid chromatography and mass spectrometry (LC-MS) for enhancing product development.
Among product type, mass spectrometry segment is expected to witness the highest growth in the global spectrometry market over the forecast period, owing to increasing new product launches by key market players. For instance, in June 2020, Agilent Technologies Inc., pioneered in life sciences, diagnostics, and applied chemical markets, launched a couple of new mass spectrometry (MS) products, Agilent 6470B Triple Quadrupole LC/MS (6470 LC/TQ) system and Agilent RapidFire 400 system. The products enabled rapid detection of target compounds offering, increased sample throughput, and reduced time to generate results.
Among end user, biopharmaceutical industries segment is expected to witness the highest growth in the global spectrometry market over the forecast period, owing to increasing technological development, collaborations and mergers for adoption of spectrometry techniques. For instance, in June 2019, Newomics, Inc., a biotechnology company engaged in developing innovative and integrative platforms and solutions for use in precision medicine, collaborated with Thermo Fisher Scientific Inc. the manufacturer and supplier of reagents and consumables, scientific instruments and software services which combine their expertise and technologies for developing sensitive, robust, and reproducible microflow LC-MS workflows used for the validation of disease biomarkers.
Among region, Asia Pacific is expected to exhibit the fastest CAGR in the global spectrometry market over the forecast period, owing to increasing collaborations & strategic partnerships among major market players, CROs, research institutes, and hospitals in the region. For instance, in December 2019, George Clinical, a global scientifically-backed clinical research organization (CRO), and Guangdong Provincial People's Hospital (GDPH) signed a memorandum of understanding (MoU) aimed at broad collaboration in the area of clinical research in China.
Competitive Landscape:
Key players operating in the global spectrometry market include 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
- Atomic Spectroscopy
- Global Spectrometry Market, By End User:
-
- Biopharmaceutical Industries
- Research & Academic Institutes
- Others
- Global Spectrometry Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Country/Region
- South Africa
- Central Africa
- North Africa
- By Country/Region
- North America
Related Market Intelligence Reports:
Spectrophotometer Market, By Technology (Molecular Spectrometry, Atomic Spectrometry, and Mass Spectrometry), By Application (Academic Application and Industrial Application), By End Users (Biotech and Pharmaceutical Companies, Research Institutes, and Others), By Region - Size, Share, Outlook, and Opportunity Analysis, 2018-2026
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
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