The global laser-induced breakdown spectroscopy market was valued at USD 259.81 million in 2022 and is expected to reach USD 434.67 million by 2030, expanding at a compound annual growth rate (CAGR) of 6.20% from 2023 to 2030. Market growth is driven by LIBS’ ability to deliver non-destructive, real-time elemental analysis, along with its cost-effectiveness, improved user compatibility, advancements in medical device integration, and enhanced data analysis algorithms.
Continuous advancements in laser technology and analytical instrumentation have made LIBS systems more compact, affordable, and easier to operate. These improvements have broadened adoption beyond large laboratories to include smaller research facilities, field researchers, and users of portable and handheld LIBS devices, significantly expanding the addressable market.
Regulatory Compliance and Industry Applications
Several industries, including pharmaceuticals, biotechnology, and manufacturing, operate under stringent regulatory frameworks that demand precise material characterization, product safety, and environmental compliance. LIBS meets these requirements by providing accurate and reliable elemental analysis, supporting quality control, regulatory adherence, and sustainability initiatives.
In the pharmaceutical sector, LIBS is widely used to analyze and verify the elemental composition of active pharmaceutical ingredients (APIs), excipients, and packaging materials. This enables manufacturers to ensure material purity, prevent the use of counterfeit or substandard inputs, and safeguard patient safety, while maintaining compliance with regulatory standards.
Key Market Trends & Insights
- North America dominated the global LIBS market with a revenue share of 45.2% in 2022
- By product type, the handheld segment accounted for the largest market share of 61.23% in 2022
- By end use, pharmaceuticals and biotechnology companies led the market in 2022
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Market Size & Forecast
- 2022 Market Size: USD 259.81 million
- 2030 Projected Market Size: USD 434.67 million
- CAGR (2023–2030): 6.20%
- Largest Regional Market: North America
Competitive Landscape
Key players in the laser-induced breakdown spectroscopy market are actively pursuing growth strategies such as new product launches, strategic collaborations, partnerships, geographic expansion, and mergers and acquisitions to strengthen their market presence.
For instance, in May 2023, Thermo Fisher Scientific introduced an enhanced feature for its handheld LIBS analyzer, the Thermo Scientific Niton Apollo. This compact and user-friendly device, based on optical emission spectroscopy, enables precise analysis of small components in environments such as oil refineries and stainless-steel manufacturing facilities.
Key Laser-Induced Breakdown Spectroscopy Companies:
- Thermo Fisher Scientific Inc.
- Hitachi High-Tech Analytical Science
- SciAps, Inc.
- Rigaku
- Bruker Corporation
- TSI Incorporated
- Princeton Instruments
- Avantes
- B&W Tek
- Applied Spectra
- SECOPTA analytics GmbH
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Conclusion
The laser-induced breakdown spectroscopy market is expected to witness steady growth through 2030, driven by increasing demand for rapid, accurate, and non-destructive elemental analysis across regulated industries. North America is projected to remain the leading regional market, supported by strong technological innovation and early adoption of advanced analytical instruments. Continued improvements in portability, data analytics, and regulatory compliance capabilities will further expand LIBS adoption across diverse end-use industries.
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