Posted July 15, 2020 by sriram123

Spectrometry Market, By Type (Atomic Spectroscopy, Mass Spectrometry , Molecular Spectroscopy, and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Spectrometry is the measurement of the interactions between light and matter, and the reactions and measurements of radiation intensity and wavelength. Atomic spectrometry is used to determine the composition of a sample in terms of which chemical elements are present and their quantities or concentrations.

The global spectrometry market is estimated to account for US$ 18,897.4 Mn in terms of value in 2020 and is expected to reach US$ 30,801.4 Mn by the end of 2027.

Global Spectrometry Market: Drivers

R&D in plant extracts is expected to propel growth of the global spectrometry market over the forecast period. For instance, in May 2020, researchers from Diabète athérothombose Thérapies Réunion Océan Indien, France, reported use of mass spectrometry to determine the presence of polyphenols in Antirhea borbonica Aqueous Extract in the study, ‘Antirhea borbonica Aqueous Extract Protects Albumin and Erythrocytes from Glycoxidative Damages’.

Moreover, increasing adoption of metabolomics is also expected to aid in growth of the market. Metabolomics is a large-scale study of small molecules, commonly known as metabolites, and involves use of untargeted gas chromatography–triple quadrupole mass spectrometry (GC-MS/MS)-based metabolomics analysis.

Mass Spectrometry held dominant position in the global spectrometry market in 2019, accounting for 36.4% share in terms of value, followed by Molecular Spectroscopy and Atomic Spectroscopy, respectively

Figure 1. Global Spectrometry Market Share (%), by Value, by Type, 2019

Spectrometry | Coherent Market Insights

Global Spectrometry Market: Restraints

High initialization cost of the tubes and complexity involved in the usage of spectrometric instruments act as major factors hindering growth of the market.

Moreover, spectrometry is a relatively complex procedure and undergoes various phases. As a result the time consumption of the overall spectrometry analysis is comparatively high. In contrast to other techniques such as chromatography, electrophoresis and others, spectrometry is slower in analyzing samples.

Global Spectrometry Market: Opportunities

Combined application of liquid chromatography and mass spectrometry is expected to offer lucrative growth opportunities for players in the global spectrometry market. Liquid chromatography-mass spectrometry (LC-MS) is used in toxicology applications in the clinical laboratory, owing to its high specificity and sensitivity.

Cellular experiments in R&D of cancer require the use of MS. Thus, increasing prevalence of cancer is also expected to aid in growth of the market. For instance, according to the American Cancer Society, around 276,480 new cases of invasive breast cancer will be diagnosed in women and the disease will lead to around 42,170 deaths, in the U.S.

The global spectrometry market was valued at US$ 17,637.5 Mn in 2019 and is forecast to reach a value of US$ 30,801.3 Mn by 2027 at a CAGR of 6.3% between 2020 and 2027.

Figure 2. Global Spectrometry Market Value (US$ Mn), and Y-o-Y Growth (%), 2019-2027

Spectrometry | Coherent Market Insights

Market Trends/Key Takeaways

Mass spectrometry is being used to develop coronavirus antigen. For instance, in May 2020, Avacta Group plc collaborated with Adeptrix Corp. to develop coronavirus antigen test using Adeptrix’s proprietary bead-assisted mass spectrometry platform.

Moreover, high-resolution mass spectrometry is being used to map the glycan-processing states of the Spike protein of the SARS-CoV-2 virus. For instance, in May 2020, researchers from University of Southampton, U.K., reported use of high-resolution mass spectrometry for site-specific glycan analysis of the SARS-CoV-2 spike.


Global Spectrometry Market: Competitive Landscape

Major players operating in the global spectrometry market include, Affymetrix Inc. (Thermo Fisher Scientific), Adeptrix Corp., Analytik Jena AG, Bio-Rad Laboratories Inc., Bruker Corporation, Danaher Corporation, Illumina Inc., Life Technologies Corp., Perkin Elmer Inc., Siemens Healthcare, and Waters Corporation.

Global Spectrometry Market: Key Developments

Major players in the market are focused on launching new products to expand their product portfolio. For instance, in June 2019, Thermo Fisher Scientific Inc. launched a new generation of intelligence-driven mass spectrometry instruments, workflows and software at the 67th American Society for Mass Spectrometry Conference on Mass Spectrometry and Allied Topics, held in Georgia (U.S.)

Similarly, in January 2019, Analytik Jena presented its PlasmaQuant MS series with two additional models: The PlasmaQuant MS Q and PlasmaQuant MS Elite S at The European Winter Conference on Plasma Spectrochemistry 2019.
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Last Updated July 15, 2020