SPECTROPHOTOMETER MARKET ANALYSIS

Regional Analysis

Spectrophotometer Market Regional Analysis:-

North America is expected to hold dominant position in the market and is also expected to show significant growth in the spectrometer market, due to increasing launch of novel products in the region by key players. For instance, in February 2018, Thermo Fisher Scientific, a U.S.-based company, launched TSQ 9000 Triple Quadrupole GC-MS/MS System. This system has been designed to increase productivity, with enhanced sensitivity, and it also reduces maintenance related downtime by 98%. Europe is also expected to witness significant growth over the forecast period owing to increase in research & development expenditure and novel product launch. According to a survey conducted by European Union (EU) research & development (R&D) scoreboard reveals that in 2016 investments on overall R&D in Europe including healthcare sector has increased by 5.6%, which is expected to support growth in spectrophotometer market size. According to WHO, in Europe from 2006-2016, an increment of 11% in patients suffering from lifestyle diseases, AIDS, tuberculosis and malaria was observed and 46% increase in cardiovascular patients. Increasing number of patients suffering from various diseases is a driving factor for pharmaceutical companies to develop novel drugs, which in turn will lead to growth in spectrophotometer market as drug discovery requires advanced devices such as spectrophotometer. For instance, in 2017 Jenway, a U.K.-based company, launched new Genova bio life science spectrophotometer. It is specially designed for life science applications such as measuring concentration and purity of DNA, RNA and other biological samples.