Spectrometry Market Expected to Grow at 6.2% CAGR, Surpassing $20.3 Billion by 2031

WILMINGTON, DELAWARE, UNITED STATES, June 3, 2024 /EINPresswire.com/ -- Spectrometry is the measurement of spectra formed by materials when they interact with sample or emit electromagnetic radiation. It is the analysis of light-matter interactions as well as reactions and measurements of radiation intensity and wavelength. It is widely used in spectroscopic evaluation of sample materials to identify certain substances like chemical compounds, impurities, contaminants, or pollutants. Depending upon the sample and requirement it can be examined through various molecular mass and atomic spectroscopy techniques.

𝐋𝐢𝐬𝐭 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :
Leco Corporation, shimadzu corporation, endress+hauser group, Perkin Elmer Inc., Waters, Bruker Corporation, Thermo Fisher Scientific, Inc., Danaher Corporation, Kore Technology, Agilent Technologies

𝐅𝐨𝐫 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 https://www.alliedmarketresearch.com/purchase-enquiry/512

By type, the market is segmented into molecular spectrometry, mass spectrometry, and atomic spectrometry. The molecular spectrometry segment generated maximum revenue in 2021, accounting $4,281.93 million of spectrometry market size, owing to its wide applications in life science industry and availability of numerous technologically advanced instruments. The mass spectrometry industry is expected to witness highest CAGR of 6.9% during the forecast period, owing to its rapid analysis with higher resolutions and launch of novel products with huge advancements such as by combination of the instruments with the chromatographic techniques.

Depending on end user, the market is classified into pharmaceutical & biotechnology companies, research & academic institutes, and others. The research & academic institutes segment dominated the market in 2021, with $5,023.17 million of spectrometry market size, owing to rise in R & D activities for drug discovery and toxicity testing. The others segment is expected to witness highest CAGR of 6.9% during the forecast period, owing to rise in awareness for food safety and environmental testing’s.

North America accounted for a majority of the global spectrometry market share in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to technological advancements in spectrometry techniques, integration of advanced hardware and software processes in spectrometry devices, and presence of key & robust research infrastructure in the region. However, Asia-Pacific is anticipated to witness notable growth, owing to rise in R&D activities, implementation of food safety regulations, establishment of facilities, and increase in investments projects for end user’s industries in the region.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 https://www.alliedmarketresearch.com/request-sample/512

𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐫𝐢𝐯𝐞𝐫
The surge in the elderly demographic is a key driver of global market expansion in the projected timeframe.
Among the fastest-growing segments of the global populace is the elderly cohort.
For example, in 2020, the number of individuals aged 65 and older exceeded 727 million, representing 9.3% of the global populace.
Common microbial illnesses affecting the aging populace encompass skin infections, bacterial pneumonia, influenza, urinary tract infections, and gastrointestinal infections.
Due to their diminished immunity and metabolism, older individuals frequently undergo diagnostic tests such as microbial testing.
Consequently, these factors are anticipated to propel the global market's growth throughout the forecast period.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬
Limited imaging capabilities pose a significant challenge to global market growth
Mass spectrometers excel at identifying molecules based on mass-to-charge ratios
Molecules are represented graphically with peaks indicating their quantity in the sample
Molecular imaging techniques are crucial in pharmaceutical research and biomarker discovery
These techniques enable visualization of biological and anatomical features of molecules
Current spectrometers lack the ability to perform imaging functions
This limitation could impede the market's growth during the forecast period

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