Spectrometry Industry: A Powerful Tool For Scientific Discovery

 

Global Spectrometry Industry databook is a collection of market sizing & forecast insights, market dynamics & trends, opportunity assessment, regulatory & technology framework, pricing intelligence, competitive benchmarking analyses, and macro-environmental analysis studies. Within the purview of the databook, such information is systematically analyzed and provided in the form of summary presentations and detailed outlook reports on individual areas of research.

 

Spectrometry Market Insights

 

The global spectrometry market size was estimated at USD 17.4 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.34% from 2022 to 2030. 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.

 

Access the Global Spectrometry Industry Data Book from 2023 to 2030, compiled with details by Grand View Research

 

Mass Spectrometry Market Insights

 

The global mass spectrometry market size was valued at USD 5.83 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 7.87% from 2022 to 2030. 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.

 

NMR Spectroscopy Market Insights

 

The global nuclear magnetic resonance spectroscopy market size was valued at USD 657.11 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.1% from 2022 to 2030. 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.

 

The market for NMR spectroscopy witnessed incremental growth in 2021 and is anticipated to showcase a similar trend in the forecast period. The instrument demand from academic and university research centers is a significant contributor to the revenue. For instance, in June 2021, National Science Foundation announced an investment of USD 40 million to develop the Network for Advanced NMR (NAN) between the University of Georgia, UConn School of Medicine, and UW–Madison’s National Magnetic Resonance Facility at Madison.

 

Near-Infrared Spectroscopy Market Insights

 

The global near-infrared spectroscopy market size is expected to reach USD 453.72 million in 2021, registering a CAGR of 6.08% 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.

 

The demand for the products from the material science sector is a substantial contributor to the revenue. NIR spectrometry provides significant advantages as a process analytical technology over other techniques including wet chemical methods, resulting in increasing preference from manufacturers. Other determinants, such as rapid advancement in the workflows of material verification, as well as improving risk management in the supply chain by manufacturers to fulfill the GMP criteria, are also contributing to the growth. The major 20 pharmaceutical manufacturers employ portable NIR analyzers to authenticate either raw materials or finished products to comply with GMP guidelines. Similarly, regulatory bodies in Europe, North America, Africa, and Asia have purchased the product to strengthen their counterfeiting efforts.

 

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In-line UV-vis Spectroscopy Market Insights

 

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.

 

UV/Visible spectrophotometers are widely used by laboratories, including that associated with academia and governments, as well as other industries. The introduction of multiple regulatory guidelines for effective approval and new product development processes across various industries, such as the pharmaceutical, food & beverages, and cosmetics industries, is anticipated to increase the adoption of products. In the pharmaceutical industry, the introduction of UV-Vis spectrophotometry that operates in compliance with United States Pharmacopeia (USP), Japanese Pharmacopoeia (JP), and the European Pharmacopoeia (EP) is anticipated to drive the industry.

 

Key players operating in the spectrometry industry are –

• Danaher Corporation
• Thermo Fisher Scientific, Inc.
• PerkinElmer, Inc.
• Agilent Technologies, Inc.
• Waters Corporation
• Shimadzu Corporation
• Bruker Corporation
• JEOL Ltd