Global Spectrometry Market to Reach US$ 21.8 Billion by 2028, Stimulated by Continuous Advancements in Technology

August 22, 2023 | Healthcare

According to the latest report by IMARC Group, titled “Spectrometry Market by Type (Molecular Spectrometry, Mass Spectrometry (MS), Atomic Spectrometry), Product (Instrument, Consumables, Services), Application (Proteomics, Metabolomics, Pharmaceutical Analysis, Forensic Analysis, and Others), End User (Government and Academic Institutions, Pharmaceutical and Biotechnology Companies, and Others), and Region 2023-2028,” the global spectrometry market size reached US$ 14.6 Billion in 2022. Spectrometry is a powerful analytical technique used in various industries for identifying and quantifying substances based on their unique spectra. It involves the interaction of electromagnetic radiation with matter, enabling the measurement of different properties, such as mass, charge, and energy. Spectrometry is crucial in pharmaceuticals, environmental analysis, food and beverage (F&B), and scientific research. The process of spectrometry typically involves passing a beam of electromagnetic radiation through a sample, and then measuring the intensity of the transmitted or scattered radiation as a function of wavelength or frequency. It is an indispensable tool in modern analytical laboratories and industrial processes due to its accuracy, sensitivity, and ability to detect trace amounts of substances.


Global Spectrometry Market Trends:

The increasing advancement in spectrometry technology as manufacturers invest heavily in research and development (R&D) efforts to enhance the capabilities of spectrometers for higher resolution, faster analysis times, and improved sensitivity is one of the major factors driving the market growth. Additionally, the increasing demand for spectrometry in the pharmaceutical and biotechnology industries for drug development, discovery, formulation, and quality assessment is creating a positive outlook for the market. Moreover, the increasing application of spectrometry in identifying and quantifying pollutants in air, water, soil, and other environmental samples, aiding regulatory compliance and environmental protection efforts, is supporting the market growth. Moreover, the growing product popularity in the food and beverage (F&B) industry to ensure product quality and safety, coupled with the global food safety regulations and increasing consumers' awareness, is providing a thrust to the market growth. In addition to this, the rising focus on sustainability and environmentally friendly practices in industries encourages manufacturers to develop spectrometers with reduced power consumption and eco-friendly components. Furthermore, the automation of analytical processes and the integration of spectrometers with robotic systems and laboratory information management systems (LIMS) is providing a considerable boost to the market growth. Looking forward, the market value is projected to reach US$ 21.8 Billion by 2028, expanding at a CAGR of 6.78% during 2023-2028.


Market Summary:

  • Based on the type, the market has been segmented molecular spectrometry (visible and ultraviolet spectroscopy, infrared spectroscopy, nuclear magnetic resonance (NMR) spectroscopy, others), mass spectrometry (MS) (MALDI-TOF, triple quadrupole, quadrupole-trap, hybrid linear ion trap orbitrap, quadrupole-orbitrap), and atomic spectrometry (atomic absorption spectroscopy (AAS), atomic emission spectroscopy (AES), atomic fluorescence spectroscopy (AFS), x-ray fluorescence (XRF), inorganic mass spectroscopy). According to the report, molecular spectrometry represents the largest segment.
  • On the basis of the product, the market has been divided into instruments, consumables, and services. Among these, instruments account for the largest market share.
  • Based on the application, the market has been categorized into proteomics, metabolomics, pharmaceutical analysis, forensic analysis, and others. According to the report, pharmaceutical analysis represents the largest market share.
  • On the basis of the end-user industry, the market has been divided into government and academic institutions, pharmaceutical and biotechnology companies, and others. Among these, government and academic institutions account for the largest market share.
  • Region-wise, the market has been segmented into North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America represents the largest market for spectrometry.
  • The competitive landscape of the market has also been examined, with some of the key players being Agilent Technologies Inc, AMETEK Inc, Bruker Corporation, Bruker Corporation, JEOL Ltd., Kore Technology (Beijing SDL Technology Co Ltd), Leco Corporation., MKS Instruments Inc., Shimadzu Corporation, Shimadzu Corporation, Waters Corporation, etc.

Report Scope:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Types Covered
  • Molecular Spectrometry: Visible and Ultraviolet Spectroscopy, Infrared Spectroscopy, Nuclear Magnetic Resonance (NMR) Spectroscopy, Others
  • Mass Spectrometry (MS): MALDI-TOF, Triple Quadrupole, Quadrupole-Trap, Hybrid Linear Ion Trap Orbitrap, Quadrupole-Orbitrap
  • Atomic Spectrometry: Atomic Absorption Spectroscopy (AAS), Atomic Emission Spectroscopy (AES), Atomic Fluorescence Spectroscopy (AFS), X-ray Fluorescence (XRF), Inorganic Mass Spectroscopy 
Products Covered Instrument, Consumables, Services
Applications Covered Proteomics, Metabolomics, Pharmaceutical Analysis, Forensic Analysis, Others
End Users Covered Government and Academic Institutions, Pharmaceutical and Biotechnology Companies, Others
Regions Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Agilent Technologies Inc, AMETEK Inc, Bruker Corporation, Bruker Corporation, JEOL Ltd., Kore Technology (Beijing SDL Technology Co Ltd), Leco Corporation., MKS Instruments Inc., Shimadzu Corporation, Shimadzu Corporation, Waters Corporation, etc.
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Global Spectrometry Market to Reach US$ 21.8 Billion by 2028, Stimulated by Continuous Advancements in Technology
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