What is the breakup of the Spectrometry market based on the product type?

 Spectrometry Industry Overview

The global Spectrometry Market size is expected to reach USD 24.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.2% from 2021 to 2028. Key players offer technologically advanced spectrometry products for several healthcare applications and have collaborated with research institutes to develop novel products.

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.

Spectrometry Market Segmentation

Grand View Research has segmented the global spectrometry market on the basis of type, product, application, end-use, and region:

Based on the Type Insights, the market is segmented into Molecular Spectrometry, Mass Spectrometry (MS) and Atomic Spectrometry.

  • Molecular spectrometry dominated the market and accounted for the largest revenue share of 37.6% 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. 
  • The Mass Spectrometry(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.. 

Based on the Product Insights, the market is segmented into Instrument, Consumables and Services.

  • The instrument segment dominated the market and accounted for the largest revenue share of 71.2% in 2020. The large share of the segment is attributed to the expanded application of spectrometry in biotechnology.
  • 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.

Based on the Application Insights, the market is segmented into Proteomics, Metabolomics, Pharmaceutical Analysis, Forensic Analysis and Others.

  • 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 airline operators segment is growing steadily as airlines are focusing gradually on generating ancillary revenues. IoT can play an important role in providing access to various real-time data to airlines and in improving the in-flight cabin experience for passengers.

Based on the End-user Insights, the market is segmented into Government & Academic Institutions, Pharmaceutical & Biotechnology Companies and Others.

  • The government and academic institutions segment dominated the spectrometry market and accounted for the largest revenue share of 44.5% in 2020.
  • The pharmaceutical and biotechnology companies’ end-use segment is expected to register the fastest growth rate from 2021 to 2028. The use of spectrometry techniques especially mass spectrometry in the pharmaceutical and biotechnology industry for drug discovery and development propels the segment growth. 

Spectrometry Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

Key Companies Profile

The extensive range of product and service portfolios offered by Agilent Technologies has led to an increase in the company's revenue for spectrometry. Also, the company’s wide distribution network has significantly enhanced its market share.

Some prominent players in the global Spectrometry market include

  • 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.

Order a free sample PDF of the Spectrometry Market Intelligence Study, published by Grand View Research.


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