Spectrometry Market, By Product Type (Atomic Spectroscopy, (Atomic Absorption Spectroscopy, X- Ray Diffraction, Implantable, X-Ray Fluorescence, Inductively Coupled Plasma, Ark Spark, Elemental Analyzers, and ICP-MS), Mass Spectroscopy, (TANDEM LC/MS, Liquid Chromatography, Gas Chromatography, MALDI – TOF, Fourier Transform, and Single Quadrupole) and Molecular Spectroscopy (NMR, UV Visualization, Infrared, Color Measurement, and Near Infrared)), By End User (Biopharmaceutical industries, Research and Academic Institutes, and Others) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) -

Published In : Jun 2023

Code : CMI3885

Pages :160

Formats :

Excel and PDF

Industry : Medical Devices

Spectrometry MarketSize and Trends

The global spectrometry market is estimated to be valued at US$ 23.3 billion in 2023 and is expected to exhibit a CAGR of 7.9 % during the forecast period (2023-2030).

Figure 1. Global Spectrometry Market Share (%), By Product Type, 2023

Market Trends: Increasing development activities in the market

Increasing development in the field of spectrometry is expected to drive the global spectrometry market growth over the forecast period. For instance on June 24, 2020 an article published by Nature Journal, based in U.K. explains that ultra-high-performance liquid chromatography-high resolution mass spectrometry (UHPLC-HRMS) is one of the most commonly used platforms for untargeted metabolomics. Although unbiased and with high coverage, untargeted approaches suffer from unsatisfactory reproducibility and require complex data processing. Targeted metabolomics based on Triple Quadrupole Mass Spectrometry (TQMS) can be a complementary tool due to its high sensitivity, high specificity, and excellent quantification ability.

Market Trends: Introduction of newer instruments for efficient techniques

Introduction of newer and more efficient instruments to boost up techniques can drive the market growth. On May 1, 2020, Avacta Group plc, a developer of Affimer biotherapeutics and reagents, announced that it entered into a collaboration with Adeptrix to develop a high throughput COVID-19 antigen test using Adeptrix’s proprietary bead-assisted mass spectrometr platform.

Global Spectrometry Market Size:

The global spectrometry market report is segmented into product type, end user, and region.

Based on product type, the global spectrometry market is segmented into atomic spectroscopy, mass spectroscopy, and molecular spectroscopy. Out of which, the mass spectrometry segment is expected to dominate the market due to increasing research and development activities.

Based on end user, the global spectrometry market is segmented into biopharmaceutical industries, research and academic institutes, and others. Among these, the biopharmaceutical industries segment is expected to dominate the market over the forecast period due to increasing usage of spectrometry techniques in biopharmaceutical firms.

Based on region, the global spectrometry market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Among these, North America is expected to dominate the market over forecast period due to increased research and development activities.

Among all segmentation, the product type segment has the highest potential due to increasing product launches by the key market players. For instance, on June 5, 2023, Bruker Corporation, a U.S.-based manufacturer of scientific instruments for molecular and materials research launched timsTOF Ultra Mass Spectrometer with Transformative Sensitivity, 300 Hz PASEF MS/MS, and VistaScan for enhanced dia-PASEF 4D-Proteomics. It incorporates a Captive Spray Ionization (CSI) ultra ion source with larger capillary and optimized vortex gas flow, a novel 4th-generation TIMS (trapped ion mobility separation) XR cell and 14 bit digitizer.

Figure 2. Global Spectrometry Market Share (%), By Region, 2023