Spectrometry Industry Data Book Covers Spectrometry, Mass Spectrometry, NMR Spectroscopy, Near-Infrared Spectroscopy and In-line UV-vis Spectroscopy Market
Grand View Research’s Spectrometry Industry databook is a collection of market sizing & forecast insights, market dynamics & trends, opportunity assessment, regulatory & technology framework, pricing intelligence, competitive benchmarking analyses, and macro-environmental analysis studies. Within the purview of the databook, such information is systematically analyzed and provided in the form of summary presentations and detailed outlook reports on individual areas of research. The following data points will be included in the final product offering in five reports and one sector report overview.
Access the Global Spectrometry Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Mass Spectrometry Market Growth & Trends
The global mass spectrometry market size is projected to reach USD 9,697.0 million by 2030, at a CAGR of 7.87% over the forecast period, according to a new report by Grand View Research, Inc. Rising awareness regarding early detection of chronic and infectious diseases and emerging technological advancements in diagnostic instruments are expected to significantly drive the market growth. In addition, there has been an increase in demand for cost-effective and automated techniques for disease diagnosis which is anticipated to increase the demand for mass spectrometry techniques and positively affect the growth.
The COVID-19 pandemic has boosted the demand for vaccine development due to recent advancements in virology-based research. Here, mass spectrometry has applications for the study of viral structure for SARS-CoV-2. The technique can also be used to study complex protein structures and protein-protein interactions associated with the virus. Hence, various pharmaceutical and biotechnology companies involved in COVID-19 vaccine and drug development efforts are anticipated to increase the demand for instruments and consumables.
In addition, various academic institutions and companies are indulging in product development strategies to support the demand for mass spectrometry from the proteomic market. For instance, in September 2022, the director of Northwestern’s Proteomics Center of Excellence published a paper on the development of a new imaging approach to enhance the identification of intact proteoforms. The team of researchers has built a Proteoform Imaging Mass Spectrometry (PiMS) system which is anticipated to assist mass spectrometry in various applications, including the detection of novel biomarkers, mapping of molecular tissue, and improvement in disease diagnosis.
Similarly, in October 2022, Thermo Fisher Scientific, Inc. announced the launch of mass spectrometry consumables and instrument that allows end-users in proteomics and biopharma to achieve significant breakthroughs. The instrument, known as Thermo Scientific Orbitrap Ascend Tribrid mass spectrometer, provides a new capability to direct multiple ions and enables to gain deeper insights into samples, along with rapid detection.
Order your copy of the Free Sample of “Spectrometry Industry Data Book - Spectrometry, Mass Spectrometry, NMR Spectroscopy, Near-Infrared Spectroscopy and In-line UV-vis Spectroscopy Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Near-infrared Spectroscopy Market Growth & Trends
The global near-infrared spectroscopy market size is expected to reach USD 806.4 million by 2030, registering a CAGR of 6.08% over the forecast period, according to a new report by Grand View Research, Inc. The growing implementation of an analytical technique for raw materials in numerous sectors, such as oil & gas and agriculture, coupled with their increasing applications is anticipated to spur industry growth. For instance, various herbs and plants with therapeutic and medicinal properties are analyzed through near-infrared (NIR) spectroscopy to assess the bio-active components. The industry has witnessed considerable growth in 2021 and is expected to have similar developments during the forecasted period.
The demand for the products from the material science sector is a substantial contributor to the revenue. NIR spectrometry provides significant advantages as a process analytical technology over other techniques including wet chemical methods, resulting in increasing preference from manufacturers. Other determinants, such as rapid advancement in the workflows of material verification, as well as improving risk management in the supply chain by manufacturers to fulfill the GMP criteria, are also contributing to the growth. The major 20 pharmaceutical manufacturers employ portable NIR analyzers to authenticate either raw materials or finished products to comply with GMP guidelines. Similarly, regulatory bodies in Europe, North America, Africa, and Asia have purchased the product to strengthen their counterfeiting efforts.
The COVID-19 pandemic had a positive impact on the demand from pharmaceutical manufacturers. However, the disruptions in industries, such as electronics & semiconductors, food & beverages, and chemical, are projected to have an adverse impact on the growth rate. For instance, in February 2021, the U.S. government reviewed the supply chain of pharma and semiconductors to strengthen the domestic investment and process of manufacturing. The imposed lockdown norms across the globe created shortages in supplies and inflated the cost of raw materials, this affected the profitability of the players. Similarly, the capability of NIR spectroscopy to identify the polymers that are used in the packaging of pharmaceutical and nutraceutical products is anticipated to be another determinant of industry growth.
As per the Code of Federal Regulations (CFR) for the packaging of pharmaceutical products, components used to store drug products are required to be identified before the use by Quality Control. On the other hand, this industry has a considerable number of players with regional dominance. The development of rapid and cost-effective NIR spectrometry is anticipated to accelerate the level of competition in the industry. For instance, in November 2020, a group of researchers developed a handheld NIR spectroscopy for organic solvents testing. Hence, the low-cost NIR spectroscopy with high accuracy will assist players to expand their presence in low- and middle-income countries.
Competitive Landscape
Key players operating in the Spectrometry industry are:
- Danaher Corporation
- Perkinelmer, INC.
- Thermo Fisher Scientific
- Agilent Technologies
- Waters Corp
Grand View Research’s Spectrometry Industry data book is a collection of market sizing information & forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
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