Market Challenges And Opportunities

Spectrophotometer Market Drivers:-

Growth of the spectrophotometer market is expected to be driver by increasing launch of novel products. In 2015, Implen Munich, a German-based company launched 4^th generation NanoPhotometer, which redefines mobile spectroscopy and has battery power of 8 hours. The instrument can also be controlled through smartphones, PC, optional built-in compactible LCD touchscreen, and tablets. NanoPhotometer provides accuracy and has a broad dynamic range, it also has the smallest sample requirement. In 2015, Implen launched N50, N60, NP80, and C40 models of NanoPhotometer. C40 is used for cuvette based analysis. NanoPhotometer is used mostly by scientists for accurate results which aid in drug development, cancer research, neurodegenerative disease drug discovery, forensics, and others. Factors such as advancement in the field of spectroscopy, rising applications of spectroscopy in disease markers, toxicology, and increasing number of chronic diseases are expected to aid in growth of the market. For instance, in 2017, DeNovix DC, a U.S.-based company, launched DS-C Spectrometer, which features built in Easy Apps for accurate UV-Vis measurements, protein quantification, microbial quantification, and kinetic studies that aids in drug discovery, formation of vaccines, and others. Its intuitive interface helps the user to quickly create custom methods, which can be saved in password protected accounts.

High price of spectrophotometer is a major restraining factor for the market growth. Moreover, lack of skilled technicians to use these devices, is another factor negatively impacting growth of the market.