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Innovation Surge Propels Global Spectrometry Market to Reach US$19.6 bn by 2020

Posted on Feb 11, 2016

The global spectrometry market is expected to exhibit a CAGR of 7.2% between 2014 and 2020. This growth rate allows the market to reach US$19.6 bn by the end of 2020, from a recorded value of US$12.22 bn in 2013. These are the key findings of a research report released by Transparency Market Research, titled “Spectrometry Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020.”

Browse the full  Spectrometry Market (Technologies: Atomic spectrometry, Molecular spectrometry, Mass spectrometry; Applications: Pharmaceuticals, Biotechnology, Industrial Chemistry, Environmental Testing, Food & Beverage Testing) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020 report at https://www.transparencymarketresearch.com/spectrometry-market.html

According to this report, the global spectrometry market is primarily being driven by a high rate of innovation in techniques. Some of the newer technologies that have vastly benefitted the global spectrometry market include handheld and portable instruments, which are capable producing superior imaging quality.

These instruments have provided major contributions to analyze samples onsite. This significantly reduces the time and effort taken to perform the analysis which otherwise needs the samples to be transported to the labs. As such, handheld devices have revolutionized spectrometry by improving its applicability in defense, environmental protection, food safety and inspection, and drug identification.

The global spectrometry market is also boosted by an increase in the level of applicability in the industries of food and beverage, industrial chemistry, biotechnology, and pharmaceuticals. These form the major application segments in the global spectrometry market. Biotechnology is the fastest growing segment, exhibiting a CAGR of 18.4% within the report’s given forecast period.

Furthermore, the clinical application of spectrometry has also improved in terms of disease marking, proteomics, toxicology, and tissue analysis. The global spectrometry market is also propelled by the mounting pressure of increased monitoring of soil and water samples. This has made it necessary for most agencies to carry spectrometry devices.

In terms of technology, the global spectrometry market will mostly be dominated by nuclear magnetic resonance spectrometry by 2020. This tech segment is expected to be valued at US$1.7 bn by 2020 in terms of revenue. At the same time, a major source of revenue for the global spectrometry market is currently coming from the field of molecular spectrometry.

The report’s geographical take on the global spectrometry market reveals that North America and Europe have dominated the market till now and may continue to dominate it. The report explains that while the current application segments for the global spectrometry market, especially in developed economies, have saturated, new areas will open up in the near future. These include additional aspects of defense, along with space and aeronautics.

The key players in the global spectrometry market include AB Sciex, Shimadzu Corporation, Waters Corporation, Bruker Corporation, Agilent Technologies, Inc., Perkin Elmer, Inc., and Thermo Fisher Scientific, Inc.

Key segments of the Global Spectrometry Market

Spectrometry Market, by Technology

  • Mass Spectrometry
    • Gas Chromatography-Mass Spectrometry (GC-MS)
    • Single Quadrupole Liquid Chromatography-Mass Spectrometry (LC-MS)
    • Matrix-Assisted Laser Desorption/Ionization & Time of Flight Spectrometry
    • Triple-Quadrupole Liquid Chromatography-Mass Spectrometry
    • Quadrupole-Time of Flight Liquid Chromatography-Mass Spectrometry (Q-TOF LC/MS)
    • Inductively Coupled Plasma Mass Spectrometry (ICP-MS)
    • Ion Mobility Mass Spectrometry
    • Fourier Transform Ion Cyclotron Resonance - Mass Spectrometry (FTICR-MS)
    • Ion Trap Mass Spectrometry
    • Others
  • Molecular Spectrometry
    • Nuclear Magnetic Resonance Spectrometry (NMR)
    • Ultraviolet-Visible Spectrometry (UV-Visible)
    • Infrared Spectrometry (IR)
    • Near-Infrared Spectrometry
    • Raman spectrometry
    • Others
  • Atomic Spectrometry
    • Atomic Absorption Spectrometry
    • X-Ray Diffraction Spectrometry
    • X-Ray Fluorescence Spectrometry
    • Elemental Analyzers
    • Inductively Coupled Plasma Atomic Emission Spectrometry
    • Others

Spectrometry Market, by Application

  • Pharmaceuticals
  • Biotechnology 
  • Industrial Chemistry
  • Environmental Testing
  • Food and Beverages Testing 
  • Others 

Spectrometry Market, by Geography

  • North America
  • Europe
  • Asia-Pacific (APAC)
  • Rest of the World (RoW)

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TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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