Global Spectrometry Market to Surpass US$ 31,035.7 Million by 2027, Says Coherent Market Insights (CMI)

SEATTLE--(BUSINESS WIRE)--According to Coherent Market Insights, the global spectrometry market is estimated to be valued at US$ 18,856.3 million in 2020 and is expected to exhibit a CAGR of 7.4 % during the forecast period (2020-2027).

Key Trends and Analysis of the Global Spectrometry Market:

The global spectrometry market is expected to witness significant growth owing to launch of spectrometers. 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.

Moreover, the increasing prevalence of metabolic disorders is expected to propel growth of the global spectrometry market during the forecast period. According to the International Diabetes Federation Diabetes Atlas, 9th edition, an article published in the journal Diabetes Research and Clinical Practice in September 2019 - global and regional prevalence of diabetes, estimates for 2019 and projections for 2030 and 2045, 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.

Among region, North America is expected to hold dominant position in the global spectrometry market during the forecast period owing to research and development activities, approval of biopharmaceutical drugs, investments in R&D, and early adoption of advanced spectrometry products in the region. According to Pharmaceutical Research and Manufacturers of America (PhRMA) report published in 2019, stated that biopharmaceutical companies sponsored over 4,500 clinical trials in the U.S. and invested around US$ 15 Bn in site-based clinical research activities in 2019.

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Key Market Takeaways:

The global spectrometry market is expected to exhibit a CAGR of 7.4 % during the forecast period, as key players are focusing on product approval and launch. For instance, in September 2019, AB SCIEX, LLC received ANVISA approval for its several LC-MS/MS systems for market access in Brazil. These systems include SCIEX Triple Quad 4500MD LC-MS/MS, QTRAP 4500MD LC-MS/MS, Topaz, and Citrine systems.

Key players operating in the global spectroscopy market are 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
• By End User :
  • Biopharmaceutical Industries
  • Research & Academic Institutes
  • Others
• By Region:
  • North America
    • By Country:
      • U.S.
      • Canada
  • Latin America
    • By Country:
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
  • Europe
    • By Country:
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
  • Asia Pacific
    • By Country:
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
  • Middle East
    • By Country:
      • GCC
      • Israel
      • Rest of Middle East
  • Africa
    • By Country/Region:
      • South Africa
      • Central Africa
      • North Africa

Related Market Intelligence Report:

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

Read more: https://www.coherentmarketinsights.com/market-insight/liquid-chromatography-mass-spectrometry-market-3102

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.