Spectrometer Market Size, Share, Sales, Analysis, Forecast, Industry Competition & Player Profiles 2023 - 2032

The rising demand for spectrometer applications in gas analyzers, blood analyzer, and anesthesia for treating covid-19 patients will likely drive major growth for the global spectrometer market. Major countries like the US are witnessing an immense surge in covid-19 cases, with cities like LA have estimated one-third of their population suffering from COVID-19. Moreover, the rise in cases of COVID-19 and major fatalities have also brought the need for adequate supply of equipment like ventilators, gas analyzers, blood analyzer to the fore. Moreover, technology to conduct rapid diagnostic tests for COVID-19 based on spectrometer has shown tremendous promise.

The system used during the influenza epidemic was used for testing the US president, and can deliver results in as little as 13 minutes. This is a major innovation, and the new technique based on biochemical strategy does not require the use of cooling, and heating methods required in RT-PCR tests. The system developed by Abbott Laboratories, and many other similar spectrometers based diagnostic tests are likely to drive major growth the spectrometer market, amidst a worldwide pandemic.

Growing Demand for Drug-Discovery Remains a Major Promise for Growth

The demand for drug-discovery patents is at an all-time high in the pharmaceutical industry. This is due to expiry of several key patents, growing cost-savings with outsourcing, advancement in technologies like machine learning, and strong support from regulatory agencies like the FDA. Moreover, spectrometers are witnessing a growing application in fields like microbiology, forensics, physics, biochemistry, medical health, and other verticals.

Spectrometry remains a promising horizon for measuring the efficacy, and safety of ingredients used in drug discovery programs. The FDA has managed to streamline its approval processing with growing efficacy, and efficiency in its regulatory approval process. Moreover, portable spectrometer also promises hand-held application, with low costs, and increased mobility with product advancements. The growth of new spectrometers which are smartphone-based, and can transmit data over long-distances is a major impetus for growth for players in the spectrometer market.

Growing Investment in Space Exploratory Research to Provide Major Growth for Spectrometer Market

The exploration of space programs has always been a major driver in the evolution of spectrometry technology. For example, NASA or the National Aeronautics and Space Administration (NASA) has long supported the growth of analytically powerful, and small spectrometer instruments to aid its goal of exploring the space.

Today, the technology continues to aid space exploration in key manner including monitoring VOCs in cabin air samples, and analyzing the gases in the atmosphere of planets. Moreover, spectrometry is essential for futuristic missions like landing on Mars, among others.

The spectrometry application in space enables monitoring air quality near spacecraft, which is critical to their functioning. Furthermore, the spectrometry applications for space exploration programs also promises more challenging, and equally rewarding opportunities.

The spectrometers in space need to withstand high-gravity force, while meeting requirements for selectivity, speed, sensitivity, and accuracy. The instrument also needs to withstand tough conditions including pressures, temperatures, microgravity, and radiation. The advent of technologies like 3D printing, and automated manufacturing will likely create new opportunities for new players in niche, but lucrative applications like space exploration to drive growth of the spectrometer market.

Some key players in the spectrometer market are Agilent Technologies (US), SCIEX (US), Waters Corporation (US), Thermo Fisher Scientific (US), and Shimadzu Corporation (Japan).

The Spectrometer Market is Segmented as Below:

By Product

• Raman Spectrometer
• NIR
• FTIR
• Others

By Application

• Life Sciences
• Material Chemistry
• Food and Agriculture
• Environmental Testing
• Forensics
• Nanotechnology
• Drug Discovery
• Others

By Region

• North America
  • United States
  • Canada
  • Rest of North America
• Europe
  • Germany
  • United Kingdom
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  
  • Japan
  • India
  • China
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Middle East & Africa
  •  UAE
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• South America
  • Brazil
  • Rest of South America