Market Highlights:

The global Portable Spectrometer Market was valued at USD 1.24 billion in 2017 and is expected to reach USD 2.15 billion by the end of the forecast period with a CAGR of 10.06%.

The portable spectrometer is gradually gaining pace in the spectroscopy market due to various advantages such as low cost, easy handling, immediate sample testing among others. The growing trend of miniaturization is further boosting the demand for portable spectrometers with the market players offering new developments in this technology such as smartphone spectrometer. These are mini devices which can be connected to the smartphones and convert them to light spectrometer. The rapid technological developments in portable and handheld spectrometers are fueling the growth of the market. However, challenge such as low accuracy compared to traditional spectrometer can hamper the growth of the market.

Portable spectrometers are also coming up with an audio voice recorder and onboard GPS features which are expected to increase the usability of the product. However, low accuracy of the product in comparison to other similar devices can hamper the growth of the market.

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Key Players:

The key players in the portable spectrometer market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are, Thermo Fisher (US), Anton Paar GmbH (Austria), Bruker (US), PerkinElmer Inc. (US), Hitachi, Ltd (Japan), Metrohm AG (Switzerland), ABB (Switzerland), Agilent Technologies, Inc. (US), Jasco (US), and Newport Corporation (US). These players contribute a major share to the growth of the portable spectrometer market.

Apart from the top key players, there are other players that contribute to the market growth. These include Oxford Instruments plc (UK), Shimadzu Scientific Instruments (Japan), TSI (US) and Rigaku Corporation (US), and others.

Segmentation:

By type, the market has been segmented into FTIR, NIR, Raman, and others. The FTIR segment is expected to dominate the portable spectrometer market during the forecast period with its application in chemical analysis, forensics, and environmental testing. The Raman portable spectrometer segment is expected to grow at a significant CAGR during the forecast period.

By application, the portable spectrometer market has been segmented into nanotechnology, drug discovery, environmental testing, food & agriculture, life sciences, materials chemistry, forensic science, and others. The drug discovery and food & agriculture segments are expected to contribute a large share to the portable spectrometer market during the forecast period.

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Regional Analysis:


The global market for portable spectrometer is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of portable spectrometer market has been studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and South America). Among the regions mentioned, North America is expected to hold a significant share of the portable spectrometer market during the forecast period followed by Europe. This is due to increasing investments by the government in research & development of the pharmaceuticals industry. The implementation of stringent government regulations for the production of pharmaceuticals has positively impacted the portable spectrometer market as it has led to the demand for medical screening. Also, the growth of molecular spectroscopy in North America and Europe is expected to contribute to the adoption of portable spectrometers in these regions.

Asia-Pacific is expected to grow at the highest CAGR during the forecast period. This is due to the rapid growth of the pharmaceutical industry in China, India, and Japan. For instance, the China Food and Drug Administration (CFDA) reforms are creating more optimistic grounds for driving innovation in the pharmaceutical industry, driving the growth of portable spectrometer market.

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