Spectrometry Market (By Type: Molecular Spectrometry, Mass Spectrometry, Atomic Spectrometry By Product: Instrument, Consumables, Services; By Application: Proteomics, Metabolomics, Pharmaceutical Analysis, Forensic Analysis, Others; By End-use: Government & Academic Institutions, Pharmaceutical & Biotechnology Companies, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 20212030

The global Spectrometry market size is expected to be worth around US$ 30.5 billion by 2030, according to a new report by Vision Research Reports.

The global Spectrometry market size was valued at US$ 18.1 billion in 2020 and is anticipated to grow at a CAGR of 10.2% during forecast period 2021 to 2030.

Growth Factors

The market is expected to show potential growth in the coming future owing to the introduction of healthcare services using MALDI-TOF mass spectrometry (MS) by key players operating in the market. For instance, in November 2020, Shimadzu Corporation launched the Amyloid MS service for the early diagnosis of amyloid-positive patients in the U.S. The analysis of blood is performed using a combination of MALDI-TOF MS (IP-MS) and immunoprecipitation.

Furthermore, spectrometers are widely used in drug discovery and research and development to study Drug Metabolism and Pharmacokinetics (DMPK) profiles and to study Absorption, Distribution, Metabolism, Excretion, and Toxicity (ADMET) properties of new molecular entities. Hence, the application of spectrometry in drug development is anticipated to show potential growth during the forecast period.

Report Highlights

Molecular spectrometry dominated the market and accounted for the largest revenue share of 44.6% in 2020 owing to the wide application of this technique in life science industries and the commercial availability of technologically advanced products in this segment. For instance, PerkinElmer, Inc. offers an extensive range of instruments, accessories, consumables, and software and informatics in molecular spectroscopy. The company offers infrared spectroscopy, fluorescence spectroscopy, ultraviolet-visible (UV-Vis) spectroscopy, and FT-IR microscopy and imaging systems under molecular spectroscopy.

Molecular spectroscopy has gained popularity and is an important tool in biotechnology, pharmaceutical, and forensic industries, due to innovation in infrared spectroscopy systems that increase efficiency and reduce the overall process cost. According to a June 2020 study, near-infrared (NIR) spectroscopy is been employed for analysis of body fluids, differentiate between normal and cancerous tissues, and various other bio-applications.

The (MS) segment is anticipated to grow at a lucrative rate throughout the forecast period.MS is a powerful tool commonly used for the analysis of a wide range of molecules in forensic, biotechnology, pharmaceuticals, and clinical research. The advancements in the mass spectroscopy process have enabled the rapid delivery of test results with high resolution.

The instrument segment dominated the market and accounted for the largest revenue share of 78.2% in 2020. The large share of the segment is attributed to the expanded application of spectrometry in biotechnology. Recently researchers identified 27 biomarkers with the help of MS to predict the severity of illness and to design therapy. Additionally, MS is also used for proteomic analysis for the characterization of adoptive cell therapies in cancer treatment such as CAR-T cell therapy. This is expected to contribute to a large share of the segment during the forecast period.

The increasing demand for spectrometers in various life science fields is expected to create a lucrative opportunity for the services provided by the companies in spectrometry. Furthermore, the continuous competitive environment amongst the private players is anticipated to fuel the growth of the services segment during the forecast period. Many prominent players such as Charles River Laboratories offer a wide variety of analytical services using the MS technique.

The pharmaceutical analysis application segment dominated the market and accounted for the largest revenue share of 35.5% in 2020 and is expected to witness the fastest CAGR over the forecast period. The pharmaceutical analysis consists of a series of processes for determination, identification, purification, and quantification of a substance, determination of the structure of chemical compounds, or separation of the components of a solution or mixture.

Some key players offer special instruments for pharmaceutical analysis application. For instance, Agilent Technologies, Inc. provides Raman pharmaceutical analysis systems - TRS100 quantitative pharmaceutical analysis system. The TRS100 system allows simple and fast whole content uniformity and polymorph screening for pharmaceutical finished-product testing and formulation development such as capsule, tablet, or other dosage forms.

The government and academic institutions segment dominated the spectrometry market and accounted for the largest revenue share of 48.5% in 2020. Spectrometry techniques and associated products are being widely used in various research studies that are being conducted by government and academic institutes. Thus, an increasing number of research studies is expected to drive the market for spectrometry products.

Similarly, various academic institutes have dedicated MS research centers. For instance, Vanderbilt University, Tennesse, U.S. has the Mass Spectrometry Research Center (MSRC) that aims to offer expertise, instrumentation, and methodology to the students. The presence of such academic centers and institutes is expected to augment the market growth in the near future.

North America dominated the market and accounted for the largest revenue share of 50.7% in 2020. This can be attributed to the local presence of a significant number of key players, such as Thermo Fisher Scientific, Agilent Technologies, Waters Corporation, and others. Additionally, the presence of several organizations and associations operating in this region that take initiatives to create and spread awareness about new advanced spectrometry products and technology.

Additionally, an increase in R&D activities by prominent players for novel diseases is attributed to the major share of the region. Players such as Agilent Technologies, Inc., are continuously involved in extensive research and development to develop new resin for the isolation and purification of vaccines. Currently, the company is working on COVID-19 vaccine development and separation by using chromatography and mass spectrometry methods. MS technique is used for the characterization of vaccine candidates.

Key Players

• 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.

Market Segmentation

• Type Outlook

  • Molecular Spectrometry

    • Visible and Ultraviolet Spectroscopy

    • Infrared Spectroscopy

    • Nuclear Magnetic Resonance (NMR) Spectroscopy

    • Others

  • Mass Spectrometry (MS)

    • MALDI-TOF

    • Triple Quadrupole

    • Quadrupole-Trap

    • Hybrid Linear Ion Trap Orbitrap

    • Quadrupole-Orbitrap

  • Atomic Spectrometry

    • Atomic Absorption Spectroscopy (AAS)

    • Atomic Emission Spectroscopy (AES)

    • Atomic Fluorescence Spectroscopy (AFS)

    • X-ray Fluorescence (XRF)

    • Inorganic Mass Spectroscopy

• Product Outlook

  • Instrument

  • Consumables

  • Services

• Application Outlook

  • Proteomics

  • Metabolomics

  • Pharmaceutical Analysis

  • Forensic Analysis

  • Others

• End-use Outlook 

  • Government & Academic Institutions

  • Pharmaceutical & Biotechnology Companies

  • Others

• Regional Outlook 

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • France

    • U.K.

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa (MEA)

    • South Africa

    • UAE

The Spectrometry market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Spectrometry market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Spectrometry market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Spectrometry market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Spectrometry market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Spectrometry capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Spectrometry by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Spectrometry market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Spectrometry market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Spectrometry market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Spectrometry industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Spectrometry market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Spectrometry market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Spectrometry market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Spectrometry market. These factors have benefited the growth of the global market for Spectrometry. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Spectrometry. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Spectrometry are as follows:

• History Year: 2017-2020

• Base Year: 2021

• Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.