Spectrometry Industry Overview
The global spectrometry market size was estimated at USD 14.1 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.2% from 2021 to 2028. The development of technologically advanced spectroscopy instruments and consumables is anticipated to provide growth avenues to this market. Continuous evolution in spectrometry techniques has enhanced the use of spectrometers in the market. Key players are developing products that are easy to use and provide better outcomes which would help researchers to provide better results. This in turn is anticipated to aid growth over the forecast period.
Gather more insights about the market drivers, restraints and growth of the Global Spectrometry market
Spectrometry technology has emerged as one of the key technologies used in various analytical applications such as drug development procedures, proteomics, metabolomics, forensic analysis, and pharmaceutical analysis. The adoption of this technique across various stages of drug discovery processes has increased in recent years. For instance, researchers from the University of Surrey applied the MS technique to assist and accelerate the COVID-19 vaccine development.
Additionally, the development of new advanced technology for novel applications is expected to drive the market over the forecast period. For instance, a June 2020 study published that the MALDI MS imaging technique can be used to analyze quantitative, physical, or physiologic properties of tissues. Therefore, the technique can be used for cancer proteomics research, diagnosis, prognosis, and treatment of various cancers.
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Proteomics Market - The global proteomics market size was valued at USD 22.30 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 13.5% from 2022 to 2030.
Biotechnology Market - The global biotechnology market size was estimated at USD 1,023.92 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 13.9% from 2022 to 2030.
Spectrometry Industry Segmentation
Grand View Research has segmented the global spectrometry market on the basis of type, product, application, end-use, and region:
Spectrometry Type Outlook (Revenue, USD Million, 2017 - 2028)
- Molecular Spectrometry
- Mass Spectrometry (MS)
- Atomic Spectrometry
Spectrometry Product Outlook (Revenue, USD Million, 2017 - 2028)
- Instrument
- Consumables
- Services
Spectrometry Application Outlook (Revenue, USD Million, 2017 - 2028)
- Proteomics
- Metabolomics
- Pharmaceutical Analysis
- Forensic Analysis
- Others
Spectrometry End-use Outlook (Revenue, USD Million, 2017 - 2028)
- Government & Academic Institutions
- Pharmaceutical & Biotechnology Companies
- Others
Spectrometry Regional Outlook (Revenue, USD Million, 2017 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Market Share Insights:
December 2020: Agilent Technologies Inc. launched a new 7850 ICP-MS mass spectrometry instrument. The new ICP-MS instrument has a new smart software feature that will increase the ability of the ICP-MS laboratory.
Key Companies profiled:
Some prominent players in the global Spectrometry Industry include
- 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.
Order a free sample PDF of the Spectrometry Market Intelligence Study, published by Grand View Research.
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