Global Spectrometry Market, by Product Type ( Atomic Spectroscopy (Atomic Absorption Spectroscopy, X- Ray Diffraction, Implantable, X-Ray Fluorescence, Inductively Coupled Plasma, Ark Spark, Elemental Analyzers, and ICP-MS), Mass Spectroscopy (TANDEM LC/MS, Liquid Chromatography, Gas Chromatography, MALDI – TOF, Fourier Transform, and Single Quadrupole), and Molecular Spectroscopy (NMR, UV Visualization, Infrared, Color Measurement, Near Infrared, and Raman), by End User (Biopharmaceutical Industries , Research & Academic Institutes, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 18,856.3 million in 2020 and is expected to exhibit a CAGR of 7.4% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.

The global spectrometry market is expected to witness significant growth as key players are focusing on strategic mergers and acquisitions to strengthen their position in the market. For instance, in May 2020, Thermo Fisher Scientific Inc., a provider of analytical instruments, software, and services for research, manufacturing, analysis, discovery, and diagnostics, extended its collaboration with Biognosys, a developer of next-generation proteomics solutions, to advance data independent acquisition (DIA) mass spectrometry-based workflows.

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Global Spectroscopy Market – Impact of Coronavirus (COVID-19)

The COVID-19 pandemic has drastically affected every market worldwide and it is expected to affect the global spectrometry market in the following ways:

Increasing prevalence of COVID-19 has generated a demand to rapidly distinguish COVID-19 from other respiratory conditions, including influenza, at first-presentation. Hence, researchers across the world are focusing on diagnosis of COVID-19 using spectroscopy methods. For instance, on October 24, 2020, a feasibility study on diagnosis of COVID-19 by breath analysis with gas-chromatography-ion mobility spectrometry was published in The Lancet, according to which volatile organic compounds (VOCs) such as aldehydes (ethanal, octanal), ketones (acetone, butanone), and methanol in breath using gas chromatography-ion mobility spectrometry (GC-IMS) can rapidly distinguish COVID-19 patients from patients with other conditions at first healthcare contact.

Moreover, key players are implementing various initiatives to combat COVID-19. For instance, in February 2020, Adeptrix Corp. collaborated with Avacta Group plc, a developer of biotherapeutics and reagents, to develop high-throughput COVID-19 antigen test using Adeptrix’s proprietary bead-assisted mass spectrometry (BAMS) platform.

Furthermore, in April 2020, Biognosys, a quantitative proteomics company, collaborated with the Gustave Roussy, a cancer center in Europe, to investigate the molecular and proteomic profiles of patients by profiling serum samples from severe COVID-19 cases treated with anti-cytokines.

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Browse 31 Market Data Tables and 25 Figures spread through 192 Pages and in-depth TOC on “Global Spectrometry Market, by Product Type (Atomic Spectroscopy (Atomic Absorption Spectroscopy, X- Ray Diffraction, Implantable, X-Ray Fluorescence, Inductively Coupled Plasma, Ark Spark, Elemental Analyzers, and ICP-MS), Mass Spectroscopy (TANDEM LC/MS, Liquid Chromatography, Gas Chromatography, MALDI – TOF, Fourier Transform, and Single Quadrupole), and Molecular Spectroscopy (NMR, UV Visualization, Infrared, Color Measurement, Near Infrared, and Raman), by End User (Biopharmaceutical Industries, Research & Academic Institutes, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)"

The global spectrometry market is expected to gain significant growth during the forecast period, owing to adoption of inorganic growth strategies such as mergers and acquisitions by key players to strengthen their presence in the market. For instance, in February 2020, Adeptrix Corp. collaborated with Avacta Group plc, a developer of biotherapeutics and reagents, to develop high-throughput COVID-19 antigen test using Adeptrix’s proprietary bead-assisted mass spectrometry (BAMS) platform

Key Takeaways of the Global Spectrometry Market:

The global spectrometry market is expected to exhibit a CAGR of 7.4 % during the forecast period, as key players are focusing on strategies such as mergers and acquisitions, and also increasing prevalence of metabolic disorders is driving the growth of global spectrometry market.

Among product type, the mass spectrometry segment is estimated to hold major market share in 2020, owing to product approvals and launches.

Among end user, the biopharmaceutical industries segment is estimated to hold major market share in 2020, owing to the increasing demand for spectrometry in the biopharmaceutical industries.

Key players operating in the global spectroscopy market are ThermoFisher Scientific Inc., Adeptrix Corp, Analytik Jena AG., Bio-Rad Laboratories, Inc., Bruker Corporation, Danaher Corporation, PerkinElmer, Inc., Siemens Healthcare, Waters Corporation, Agilent Technologies, Inc., Shimadzu Corporation, and Advion, Inc.

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