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The Novel Spectrometry Platforms Market Size is valued at USD 13.47 Billion in 2023 and is predicted to reach USD 24.92 Billion by the year 2031 at an 8.4 % CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
Understanding the interaction at the molecular level requires spectrometry. Spectrometry, especially in the electromagnetic spectrum, is a crucial tool for researchers in astronomy, chemistry, materials science, and physics because it provides insight into the composition, physical structure, and electronic structure of matter on the atomic, molecular, macroscopic, and galactic scales. One such important field is biomedical spectroscopy, which is used for a variety of essential purposes like tissue analysis and medical imaging. Because these systems give off a lot of different wavelengths, it is possible to learn a lot about their structures, such as how the electrons are arranged in their ground and excited states.
It can also be used to measure biomolecules like corticosteroids, testosterone, aldosterone, etc., and also to analyse phytochemicals like glycosides, tannins, alkaloids, etc. It's also a part of the fermentation industry to keep the concentration of microbes and chemical substances stable. Mass spectrometry, which quantifies the mass-to-charge ratio of ions, is a significant example. It may be used to characterise a wide range of biomolecules, from sugars to proteins to oligonucleotides, and is hence an indispensable analytical tool in biological research.
Growth in the global market for Novel spectrometry platforms is anticipated throughout the forecast period, driven by the launch of new pharmaceuticals and the increasing willingness of businesses to invest in enhancing product quality. Providers of spectrometric services are also investing much in developing methods to integrate cutting-edge capabilities. Consequently, it is anticipated that the international market for Novel spectrometry will grow. Novel spectrometry's growing relevance outside of healthcare and the increasing number of companies eager to invest in biomedical research and manufacture inexpensive generic pharmaceuticals are all factors contributing to the market's growth. In 2022, Astrazeneca said that Big molecules and drug complexes that were previously too large to detect can now be mapped in tissue thanks to a recent development in mass spectrometry imaging. This technique can produce a greater comprehension of disease causes and therapeutic approaches with applications ranging from pharmacological efficacy to drug safety.
There are many issues with traditional spectrometers, such as the lack of automation in some systems, which lowers reproducibility and sensitivity. Novel spectrometers have emerged as a feasible choice after several issues with conventional spectrometers have been resolved. The high cost of spectrometry usage and a fundamental lack of awareness about the service's availability may be limiting factors for the industry.
The Novel Spectrometry Platforms market is segmented into two major categories: a type of Spectrometer and the end-user industry. The kind of spectrometer segment is classified into different devices Atomic Absorption Spectrometer, Mass Spectrometer, Near Infrared Spectrometer, Nuclear Magnetic Resonance Spectrometer, Raman Spectrometer and X-Ray Fluorescence Spectrometer. Another major segment end-user industry covers Agriculture / Pesticide Testing, Environmental Analysis, Food Biotechnology, Forensic Analysis, Pharmaceutical Analysis and other end users.
North America presently possesses the highest portion of the global market for Novel Spectrometry platforms because of improvements in healthcare infrastructure, rises in per capita income, and the existence of cutting-edge research institutions and laboratories.
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Report Attribute |
Specifications |
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Market Size Value In 2023 |
USD 13.47 Billion |
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Revenue Forecast In 2031 |
USD 24.92 Billion |
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Growth Rate CAGR |
CAGR of 8.4 % from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Billion and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
Type of Spectrometers, End-User |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
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Competitive Landscape |
Agilent Technologies Inc., Bruker, Danaher Corporation, JEOL Ltd., Kore Technology Ltd., Metrohm AG, LECO Corporation, PerkinElmer Inc., Rigaku Corporation, Shimadzu Corporation, Thermo Fisher Scientific Inc., Waters Corporation, Endress+Hauser Group, MKS Instruments, Inc., FLIR Systems, Inc., SCIEX, Analytik Jena, Rigaku Corporation, DANI Instruments, Advion, Inc., AMETEK Process Instruments, Extrel CMS, LLC, MassTech Inc., Hiden Analytical, and other prominent players |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Novel Spectrometry Platforms and Services Market Snapshot
Chapter 4. Global Novel Spectrometry Platforms and Services Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: By Type of Spectrometers Estimates & Trend Analysis
5.1. By Type of Spectrometers & Market Share, 2019 & 2031
5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following By Type of Spectrometers:
5.2.1. Atomic Absorption Spectrometer
5.2.2. Mass Spectrometer
5.2.3. Near Infrared Spectrometer
5.2.4. Nuclear Magnetic Resonance Spectrometer
5.2.5. Raman Spectrometer
5.2.6. X-Ray Fluorescence Spectrometer
Chapter 6. Market Segmentation 2: By End-user Estimates & Trend Analysis
6.1. By End-user & Market Share, 2019 & 2031
6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following By End-user:
6.2.1. Agriculture / Pesticide Testing
6.2.2. Environmental Analysis
6.2.3. Food Biotechnology
6.2.4. Forensic Analysis
6.2.5. Pharmaceutical Analysis
6.2.6. other end users
Chapter 7. Novel Spectrometry Platforms and Services Market Segmentation 3: Regional Estimates & Trend Analysis
7.1. North America
7.1.1. North America Novel Spectrometry Platforms and Services Market revenue (US$ Million) estimates and forecasts By Type of Spectrometers, 2024-2031
7.1.2. North America Novel Spectrometry Platforms and Services Market revenue (US$ Million) estimates and forecasts By End-user, 2024-2031
7.1.3. North America Novel Spectrometry Platforms and Services Market revenue (US$ Million) estimates and forecasts by country, 2024-2031
7.2. Europe
7.2.1. Europe Novel Spectrometry Platforms and Services Market revenue (US$ Million) By Type of Spectrometers, 2024-2031
7.2.2. Europe Novel Spectrometry Platforms and Services Market revenue (US$ Million) By End-user, 2024-2031
7.2.3. Europe Novel Spectrometry Platforms and Services Market revenue (US$ Million) by country, 2024-2031
7.3. Asia Pacific
7.3.1. Asia Pacific Novel Spectrometry Platforms and Services Market revenue (US$ Million) By Type of Spectrometers, 2024-2031
7.3.2. Asia Pacific Novel Spectrometry Platforms and Services Market revenue (US$ Million) By End-user, 2024-2031
7.3.3. Asia Pacific Novel Spectrometry Platforms and Services Market revenue (US$ Million) by country, 2024-2031
7.4. Latin America
7.4.1. Latin America Novel Spectrometry Platforms and Services Market revenue (US$ Million) By Type of Spectrometers, (US$ Million) 2024-2031
7.4.2. Latin America Novel Spectrometry Platforms and Services Market revenue (US$ Million) By End-user, (US$ Million) 2024-2031
7.4.3. Latin America Novel Spectrometry Platforms and Services Market revenue (US$ Million) by country, 2024-2031
7.5. Middle East & Africa
7.5.1. Middle East & Africa Novel Spectrometry Platforms and Services Market revenue (US$ Million) By Type of Spectrometers, (US$ Million) 2024-2031
7.5.2. Middle East & Africa Novel Spectrometry Platforms and Services Market revenue (US$ Million) By End-user, (US$ Million) 2024-2031
7.5.3. Middle East & Africa Novel Spectrometry Platforms and Services Market revenue (US$ Million) by country, 2024-2031
Chapter 8. Competitive Landscape
8.1. Major Mergers and Acquisitions/Strategic Alliances
8.2. Company Profiles
8.2.1. Advion, Inc.
8.2.2. Agilent Technologies Inc.
8.2.3. AMETEK Process Instruments
8.2.4. Analytik Jena
8.2.5. Bruker
8.2.6. Danaher Corporation
8.2.7. DANI Instruments
8.2.8. Endress+Hauser Group
8.2.9. Extrel CMS, LLC
8.2.10. FLIR Systems, Inc.
8.2.11. Hiden Analytical
8.2.12. JEOL Ltd.
8.2.13. Kore Technology Ltd.
8.2.14. LECO Corporation
8.2.15. MassTech Inc.
8.2.16. Metrohm AG
8.2.17. MKS Instruments, Inc.
8.2.18. PerkinElmer Inc.
8.2.19. Rigaku Corporation
8.2.20. Rigaku Corporation
8.2.21. SCIEX
8.2.22. Shimadzu Corporation
8.2.23. Thermo Fisher Scientific Inc.
8.2.24. Waters Corporation
8.2.25. Other Prominent Players
Global Novel Spectrometry Platforms Market, by Type of Spectrometers, (Value US$ Mn)
Global Novel Spectrometry Platforms Market, by End User Industry, (Value US$ Mn)
Global Novel Spectrometry Platforms Market, by Region, (Value US$ Mn)
North America Novel Spectrometry Platforms Market, by Country, (Value US$ Mn)
Europe Novel Spectrometry Platforms Market, by Country, (Value US$ Mn)
Asia Pacific Novel Spectrometry Platforms Market, by Country, (Value US$ Mn)
Latin America Novel Spectrometry Platforms Market, by Country, (Value US$ Mn)
Middle East & Africa Novel Spectrometry Platforms Market, by Country, (Value US$ Mn)
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
