Laser-induced Breakdown Spectroscopy Market

Laser-induced Breakdown Spectroscopy Market Size:

The global laser-induced breakdown spectroscopy market size reached US$ 284.4 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 455.2 Million by 2032, exhibiting a growth rate (CAGR) of 5.37% during 2024-2032. The market is experiencing significant growth mainly driven by the advancements in laser technology, the widespread adoption across diverse industries and increasing integration with artificial intelligence (AI) and machine learning (ML) for enhanced data analysis and increasing regulatory standards.

Laser-induced Breakdown Spectroscopy Market Analysis:

• Major Market Drivers: The market is mainly driven by various factors which includes the rising demand for real time and in-situ analysis across various industries. In line with this, the advancements in laser technology and the rising adoption of laser-induced breakdown spectroscopy in environmental monitoring and mining application is also driving its market growth. Furthermore, the need for rapid and accurate elemental analysis in fields like pharmaceuticals, metallurgy and forensic fuels the laser-induced breakdown spectroscopy market growth. The rising focus on quality control and regulatory compliance further enhances its adoption.
• Key Market Trends: Key market trends include the integration of artificial intelligence (AI) and machine learning (ML) to enhance data analysis and interpretation. In line with this, miniaturization of laser- induced breakdown spectroscopy devices for portable and handled applications along with the increasing use in hazardous and remote environments are propelling its market demand. The market is also witnessing a growing adoption in industries like agriculture, recycling and defense. Furthermore, advancements in femtosecond lasers and development of more robust and versatile systems are driving the laser- induced breakdown spectroscopy market growth.
• Geographical Trends: Geographical trends in the market shows significant growth in North America and Europe mainly driven by strong industrial and environmental regulations. Asia Pacific is emerging as a key market due to rapid industrialization, increase in research activities and gradually expanding manufacturing sectors in countries like China and India. Furthermore, there is a rising adoption of laser-induced breakdown spectroscopy technology in Latin America and Middle East for mining and oil exploration applications significantly contributing to regional laser- induced they've done spectroscopy market growth.
• Competitive Landscape: Some of the major market players in the laser-induced breakdown spectroscopy industry include Applied Spectra, Hitachi High-Tech Analytical Science, Rigaku Corporation, SciAps Inc., SECOPTA analytics GmbH, Thermo Fisher Scientific Inc., among many others.
• Challenges and Opportunities: The market faces various challenges like high initial costs, the need for a skilled operators and limitations in detecting certain elements with low sensitivity. However, these challenges present opportunities for innovation and improvement. Advancements in laser technology and data processing along with the integration of artificial intelligence (AI) can further enhance the capabilities of laser-induced breakdown spectroscopy devices. The rising demand for non- destructive and real-time analysis in sectors like environmental monitoring, mining and pharmaceuticals offers significant growth potential.
   

Laser-induced Breakdown Spectroscopy Market Trends:

Miniaturization of LIBS Devices

The miniaturization of laser induced breakdown spectroscopy devices involves creating portable and handheld units which can maintain high analytical performance. These compact devices enable on-site, real time elemental analysis in various field applications such as environmental monitoring, geological surveys and industrial inspections. For instance, Avantes, a company that develops fiber- optic spectroscopy instrumentation is making laser- induced breakdown spectroscopy suitable for industrial applications. Recent advancements of Avantes in miniaturization and industrial hardening of the components have positively impacted LIBS industrial adoption. Aventes’ modular design, small footprint and advanced engineering have empowered researchers to implement LIBS in various industries. Portable LIBS system is designed to be lightweight, durable and user friendly which often features integrated software for immediate data processing and interpretation.

Technological Advancements

Technological advancements in the laser-induced breakdown spectroscopy (LIBS) market are marked by significant progress in femtosecond laser technology and the development of more robust LIBS systems. For instance, the State Key Laboratory of Precision Spectroscopy at East China Normal University has made significant progress in ultra-fast laser-induced breakdown spectroscopy. They introduced plasma-grating induced breakdown spectroscopy (GIBS) and multidimensional plasma-grating induced breakdown spectroscopy (MIBS) techniques, which exhibit heightened sensitivity. These methods overcome traditional limitations and offer fast, simple, and convenient advantages. Additionally, a novel combination of FIBS and GIBS was proposed for solution detection, improving sensitivity and accuracy. These technologies have broad applications in various fields. Femtosecond lasers, which emit ultra-short pulses, enhance the precision and resolution of elemental analysis, minimizing thermal damage and improving signal quality. These lasers enable the detection of low-concentration elements with greater accuracy. Additionally, the development of more robust LIBS systems includes improvements in hardware durability, software integration, and data processing capabilities. These advancements make LIBS more reliable and versatile, expanding its applications across industries such as environmental monitoring, pharmaceuticals, and materials science.

Integration of Artificial Intelligence and Machine Learning

The increasing integration of AI and Machine Learning (ML) with laser-induced breakdown spectroscopy (LIBS) significantly enhances data analysis and interpretation. AI algorithms can process vast amounts of spectral data quickly, identifying patterns and correlations that might be missed by traditional methods. According to a report published by Science Direct, a new regression method, DF-K-ELM, integrates domain knowledge to improve LIBS quantification. This method, tested on 3 LIBS datasets, outperformed 6 baseline methods in 6 out of 10 regression tasks, highlighting the potential of incorporating domain knowledge into machine learning for enhanced LIBS quantification. Machine learning models, trained on extensive datasets, improve the accuracy and reliability of element detection and quantification. This integration enables real-time decision-making, automates complex analytical tasks, and reduces the need for expert intervention. Consequently, industries such as environmental monitoring, pharmaceuticals, and mining benefit from more precise, efficient, and cost-effective elemental analysis, driving the broader adoption of LIBS technology.

Laser-induced Breakdown Spectroscopy Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on product and end user.

Breakup by Product:

• Handheld
• Desktop
   

Handheld accounts for the majority of the laser-induced breakdown Spectroscopy market share

The report has provided a detailed breakup and analysis of the market based on the product. This includes handheld and desktop. According to the report, handheld represented the largest segment.

Handheld devices dominate the Laser-induced Breakdown Spectroscopy (LIBS) market, accounting for the majority of the market share. Their portability, ease of use, and capability for real-time, on-site elemental analysis make them highly valuable across various industries. These compact units enable rapid decision-making in field applications such as environmental monitoring, mining, and industrial inspections. For instance, the Niton Apollo analyzer from Thermo Fisher Scientific, utilizes a powerful laser and high purity argon purge to deliver high-quality results quickly. Designed for portability, it weighs only 6.4 lbs. (2.9 kg.) and offers real-time data display for on-the-go decision-making. Its versatile design allows for easy analysis in various field conditions, including tight spaces and challenging structural shapes. With its ability to measure carbon equivalency and pseudo elements, the analyzer provides valuable insights for informed decision-making. The integration of advanced software for immediate data interpretation further enhances their appeal, driving widespread adoption and solidifying their leading position in the LIBS market.

Breakup by End User:

• Academic and Research Institutes
• Pharmaceutical and Biotechnology Companies
• Others
   

Pharmaceutical and Biotechnology Companies holds the largest share of the industry

A detailed breakup and analysis of the market based on the end user have also been provided in the report. This includes academic and research institutes, pharmaceutical and biotechnology companies and others. According to the report, pharmaceutical and biotechnology companies accounted for the largest market share.

Pharmaceutical and biotechnology companies hold the largest share of the Laser-induced Breakdown Spectroscopy (LIBS) industry, driven by the need for precise, rapid elemental analysis in drug development and quality control. LIBS technology enables these companies to perform non-destructive testing, ensuring compliance with stringent regulatory standards and maintaining high product quality. The ability to analyze raw materials, intermediates, and final products efficiently makes LIBS indispensable in pharmaceutical manufacturing. Additionally, its application in detecting contaminants and verifying drug composition further enhances its value. This dominant market share reflects the critical role of LIBS in advancing pharmaceutical and biotechnology research and production.

Breakup by Region:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

North America leads the market, accounting for the largest laser-induced breakdown spectroscopy market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, 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 regional market for laser-induced breakdown spectroscopy.

North America leads the Laser-induced Breakdown Spectroscopy (LIBS) market, accounting for the largest market share. This dominance is driven by strong industrial and environmental regulations, advanced technological infrastructure, and significant investment in research and development. The region's robust pharmaceutical, biotechnology, and environmental monitoring sectors heavily utilize LIBS for precise and rapid elemental analysis. For instance, in 2024, Shimadzu Scientific Instruments, Inc. (SSI), a Shimadzu Group company in the U.S., has established an R&D Center with locations in Maryland, Massachusetts, and California. The center aims to strengthen product development for analytical and measurement equipment, focusing on serving the North American market. With facilities in key regions such as Boston and San Francisco, the R&D Center will support the expansion of Shimadzu's business to pharmaceutical companies, targeting sales of over 70 billion yen by fiscal 2025. Additionally, the presence of major market players and ongoing innovations in LIBS technology further bolster North America's leading position. This leadership underscores the region's commitment to adopting cutting-edge analytical technologies for diverse applications.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the laser-induced breakdown spectroscopy industry include Applied Spectra, Hitachi High-Tech Analytical Science, Rigaku Corporation, SciAps Inc., SECOPTA analytics GmbH, Thermo Fisher Scientific Inc., etc.
  
  (Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
   
• The Laser-induced Breakdown Spectroscopy (LIBS) market is highly competitive, with key players including Thermo Fisher Scientific, SciAps, and Rigaku, dominating the landscape. These companies focus on technological advancements, product innovation, and strategic partnerships to maintain their market positions. For instance, in Septemeber 2023, Rigaku Analytical Devices introduced the CQL Narc-ID 1064 nm Raman analyzer for identifying narcotics, precursor chemicals, and cutting agents, even in non-visible amounts. Tailored for counter-narcotics agencies, law enforcement, and customs, the analyzer utilizes 1064 nm Raman technology to identify concealed substances in translucent packaging. It features a specialized library, rapid results, automated recipe monitoring, and easily accessible PDF report creation. The CQL Narc-ID will be showcased at the IACP conference in San Diego. For more information, visit www.rigakuanalytical.com. Emerging players and startups are also entering the market, bringing new technologies and innovative solutions. The competitive environment is driven by the demand for portable and high-performance LIBS devices, integration with AI for enhanced data analysis, and the expansion of applications across various industries such as environmental monitoring, pharmaceuticals, and mining.

Laser-induced Breakdown Spectroscopy Market Recent Developments:

• In April 2024, Applied Spectra announced a groundbreaking advancement in LIBS instrumentation for analyzing Uranium isotopes. The new spectrometer/detector technology has achieved a detection limit of 1.3 picograms of Uranium in LIBS measurement, allowing for precise analysis of different Uranium enrichment grades. This development, detailed in the Journal of Spectrochimica Acta, Part B, demonstrates the potential for isotopic analysis of Uranium at the picogram level, marking a significant improvement in this field.
• In March 2024, Hitachi High-Tech Analytical Science introduced a polarization microscope accessory compatible with the NEXTA® DSC Series of thermal analyzers. The accessory, named Real View® Polarized Micro Sample Observation Unit, offers enhanced microscopic analysis with a high-resolution camera and controllable polarization technology. This innovation facilitates high-precision structural analysis of various materials, expanding the capabilities of differential scanning calorimeters for companies and research laboratories in need of advanced material characterization.

Laser-induced Breakdown Spectroscopy Market Report Scope:

Key Questions Answered in This Report:

• How has the global laser-induced breakdown spectroscopy market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global laser-induced breakdown spectroscopy market?
• What is the impact of each driver, restraint, and opportunity on the global laser-induced breakdown spectroscopy market?
• What are the key regional markets?
• Which countries represent the most attractive laser-induced breakdown spectroscopy market?
• What is the breakup of the market based on the product?
• Which is the most attractive product in the laser-induced breakdown spectroscopy market?
• What is the breakup of the market based on the end user?
• Which is the most attractive end user in the laser-induced breakdown spectroscopy market?
• What is the breakup of the market based on the region?
• Which is the most attractive region in the laser-induced breakdown spectroscopy market?
• What is the competitive structure of the market?
• Who are the key players/companies in the global laser-induced breakdown spectroscopy market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the laser-induced breakdown spectroscopy market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global laser-induced breakdown spectroscopy market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the laser-induced breakdown spectroscopy industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.