Spectrometry Industry: Opportunities

Spectrometry holds significant potential in the near future owing to increase in healthcare applications.

Spectrometry Industry | Forecast 2030

Spectrometry industry data book is a combination of the market data from five reports namely, spectrometry, mass spectrometry, NMR spectroscopy, near-infrared spectroscopy, and in-line UV-vis spectroscopy market. The market was valued at USD 17.4 billion in 2021 with a CAGR of 7.34% during 2022-2030. NMR spectroscopy market and Near-infrared Spectroscopy market are also growing at the CAGR of 5.1% and 6.08% respectively. The development of advanced spectrometry instruments and consumables is anticipated to create growth opportunities in this market and drive the market in the coming years.

Access the Global Spectrometry Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Spectrometry holds significant potential in the near future owing to increase in healthcare applications. In addition, molecular spectrometry holds the largest share in this market due to wide applications of this technique in healthcare industries and key players offering an extensive range of technologically advanced products in this segment. Furthermore, mass spectrometry is likely to grow at the highest CAGR over the forecast period owing to continuous advancements in mass spectroscopy techniques and major players operating in this segment engaged in introducing advanced products. Advancements and new product launches are anticipated to drive the overall market at a sustainable rate.

Spectrometry Market Growth & Trends

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.

Order your copy of the Free Sample of “Spectrometry Industry Data Book – Spectrometry, Mass Spectrometry, NMR Spectroscopy, Near-Infrared Spectroscopy and In-line UV-vis Spectroscopy Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030, published by Grand View Research

Mass Spectrometry Market Growth & Trends

The global mass spectrometry market size is projected to reach USD 9,697.0 million by 2030, at a CAGR of 8.06% over the forecast period, according to a new report by Grand View Research, Inc. Rising awareness regarding early detection of chronic and infectious diseases and emerging technological advancements in diagnostic instruments are expected to significantly drive the market growth. In addition, there has been an increase in demand for cost-effective and automated techniques for disease diagnosis which is anticipated to increase the demand for mass spectrometry techniques and positively affect the growth.

The COVID-19 pandemic has boosted the demand for vaccine development due to recent advancements in virology-based research. Here, mass spectrometry has applications for the study of viral structure for SARS-CoV-2. The technique can also be used to study complex protein structures and protein-protein interactions associated with the virus. Hence, various pharmaceutical and biotechnology companies involved in COVID-19 vaccine and drug development efforts are anticipated to increase the demand for instruments and consumables.

Nuclear Magnetic Resonance Spectroscopy Market Growth & Trends

The global nuclear magnetic resonance spectroscopy market size is expected to reach USD 1,025.3 million by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 5.1% from 2023 to 2030. The rising need for metabolomics-based diagnosis, coupled with increasing usage in various fields, is anticipated to surge the growth of the market. Bruker offers nuclear magnetic resonance (NMR) spectroscopy solutions for multi-omics, tissue SpatialOMx, proteomics, functional structural biology, biomolecular condensates, and biopharma and applied.

Near-infrared Spectroscopy Market Growth & Trends

The global near-infrared spectroscopy market size is expected to reach USD 806.4 million by 2030, registering a CAGR of 5.8% over the forecast period, according to a new report by Grand View Research, Inc. The growing implementation of an analytical technique for raw materials in numerous sectors, such as oil & gas and agriculture, coupled with their increasing applications is anticipated to spur industry growth. For instance, various herbs and plants with therapeutic and medicinal properties are analyzed through near-infrared (NIR) spectroscopy to assess the bio-active components. The industry has witnessed considerable growth in 2021 and is expected to have similar developments during the forecasted period

In-line UV-vis Spectroscopy Market Growth & Trends

The global in-line UV-vis spectroscopy market size is expected to reach USD 1,872.9 million by 2030, registering a CAGR of 6.69% over the forecast period, according to a new report by Grand View Research, Inc. Notable technological advancements in the UV-vis spectroscopic method have accelerated the in-line monitoring of compounds using UV-vis-spectrometry across various fields, such as environmental monitoring, materials science, pharmaceutical research, and agriculture. The introduction of advanced solutions, such as enhanced silicon and InGaAs detectors & Light-emitting Diode (LED) sources, have supported the adoption of this UV-Vis spectroscopy technique, thereby driving the industry.

Competitive Landscape

Competitive rivalry in the spectrometry industry is moderate to high due to the presence of a large number of both well-established players and small- to mid-sized manufacturers and distributors in the market space. Some of the major players are Danaher Corporation, Thermo Fisher Scientific, Inc., PerkinElmer, Inc., Agilent Technologies, Inc., Waters Corporation, Shimadzu Corporation, Bruker Corporation, and JEOL Ltd among many others. These market players are involved in the development of advanced spectrometry products as well as services.