Spectroscopy equipment and supplies are laboratory devices that are used for analysis by using the interaction of light to analyse and detect the components of a sample. Spectroscopy equipment and supplies come in various forms, which increases the scope of their usage by a wide range of research professionals working within diverse budgets. The basic spectroscopy setup includes a cuvette, flow cell or dipping probe to hold the sample, a light source and a detection system.
In this report, FMI has segmented the global spectroscopy equipment and supplies market on the basis of product type, end user and region. By product type, the spectroscopy equipment and supplies market is segmented into molecular spectroscopy equipment, atomic spectroscopy equipment, mass spectroscopy equipment, molecular spectroscopy supplies, atomic spectroscopy supplies and mass spectroscopy supplies.
The mass spectroscopy equipment sub-segment is expected to grow at a relatively higher CAGR in the spectroscopy equipment and supplies market due to the increasing usage of mass spectroscopy techniques, especially in the pharmaceutical and agriculture & food industries. However, the molecular spectroscopy equipment sub-segment is expected to capture the largest market share of the global spectroscopy equipment and supplies market and is expected to create an incremental opportunity of USD 3,999.4 Mn between 2018 and 2027.
The increasing spending of the governments of various countries in the pharmaceutical, food, agriculture and chemical industries is a major factor driving the spectroscopy equipment and supplies market. Moreover, the high spending on the research & development sector is creating potential growth opportunities for the spectroscopy equipment and supplies market. In addition, growing food quality concerns is also attracting end users towards the adoption of spectroscopy equipment and supplies, due to which the spectroscopy equipment and supplies market is expected to grow at a significant rate.
Furthermore, technological advancements in spectroscopy equipment and supplies, such as improved resolution, increased speed and high accuracy, are fuelling the growth of the spectroscopy equipment and supplies market.
Apart from this, a significant increase in the demand for spectroscopic techniques and the installation of related equipment across the globe is also expected to boost the spectroscopy equipment and supplies market over the forecast period.
However, the high cost of spectroscopy equipment and supplies, and the lack of skilled personnel are some of the major factors hampering the growth of the spectroscopy equipment and supplies market. Owing to these factors, the spectroscopy equipment and supplies market is projected to register single-digit growth during the forecast period.
Based on end user, the spectroscopy equipment and supplies market is sub-segmented into pharmaceuticals, agriculture & food, oil & gas, chemicals & polymer and others. The high spending on the research & development of pharmaceutical products and continuous innovations in the spectroscopy equipment market are some of the major factors promoting the growth of the pharmaceutical sub-segment.
However, the oil & gas sub-segment is also expected grow at a relatively higher CAGR during the forecast period in the global spectroscopy equipment and supplies market. In terms of value, the oil & gas sub-segment is expected to create an incremental opportunity of USD 2,093.4 Mn during the forecast period in the spectroscopy equipment and supplies market.
On the basis of geography, the spectroscopy equipment and supplies market is sub-segmented into North America, Latin America, Europe, Japan, APEJ (Asia Pacific Excluding Japan) and Middle East & Africa. The spectroscopy equipment and supplies market in North America is expected to dominate the global spectroscopy equipment and supplies market owing to the high spending on research & development by various countries in the region.
Europe and APEJ are also expected to capture a substantial market share in the global spectroscopy equipment and supplies market owing to major technological advancements in the pharmaceutical industry and the presence of a large number of research laboratories in the region. Moreover, the spectroscopy equipment and supplies market in Latin America and Middle East & Africa is also expected to grow at a high CAGR owing to an increase in government spending as well as the number of research activities.
According to FMI analysis, Manufacturers are focusing on effective end to end solutions, advanced spectroscopy equipments with new tools to increase the speed of the experiment and analysis with precision during the experiments, this will ultimately enable the manufacturers of spectrosocopy equipment and supplies to achieve faster growth.
Moreover, the acquisition of businesses, technologies and products is also expected to help the manufacturers of spectroscopy equipment and supplies to accelerate revenue growth and create value for shareholders. Some of the market participants in the global spectroscopy equipment and supplies market report include Agilent Technologies, Inc.; Bruker Corporation; Hitachi High-Technologies Corporation; JEOL Ltd.; Shimadzu Corporation; Waters Corporation; Thermo Fisher Scientific Inc.; PerkinElmer, Inc.; Rigaku Corporation; Danaher-Corp, Stellarnet, Inc., LECO Corporation, AMETEK, Inc., Sartorius AG and Yokogawa Electric Corporation.
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The spectroscopy equipment and supplies market is likely to secure a CAGR of 6.6% during the forecast period.
Growing food quality concerns are attracting manufacturers towards the adoption of spectroscopy equipment and supplies.
The market is currently at a valuation of about US$ 18.98 Bn.
North America is dominating the market due to high spending on research and development.
1. Global Spectroscopy Equipment and Supplies Market - Executive Summary 2. Global Spectroscopy Equipment and Supplies Market Overview 3. Global Spectroscopy Equipment and Supplies Market Analysis and Forecast 2013-2027 3.1. Global Spectroscopy Equipment and Supplies Market Size and Forecast By Product Type, 2013-2027 3.1.1. Molecular Spectroscopy Equipment Market Size and Forecast, 2013-2027 3.1.2. Atomic Spectroscopy Equipment Market Size and Forecast, 2013-2027 3.1.3. Mass Spectroscopy Equipment Market Size and Forecast, 2013-2027 3.1.4. Molecular Spectroscopy Supplies Market Size and Forecast, 2013-2027 3.1.5. Atomic Spectroscopy Supplies Market Size and Forecast, 2013-2027 3.1.6. Mass Spectroscopy Supplies Market Size and Forecast, 2013-2027 3.2. Global Spectroscopy Equipment and Supplies Market Size and Forecast By End User, 2013-2027 3.2.1. Pharmaceuticals Market Size and Forecast, 2013-2027 3.2.2. Agriculture & Food Market Size and Forecast, 2013-2027 3.2.3. Oil & Gas Market Size and Forecast, 2013-2027 3.2.4. Chemicals & Polymer Market Size and Forecast, 2013-2027 3.2.5. Others Market Size and Forecast, 2013-2027 4. North America Spectroscopy Equipment and Supplies Market Size and Forecast, 2013-2027 5. Latin America Spectroscopy Equipment and Supplies Market Size and Forecast, 2013-2027 6. Europe Spectroscopy Equipment and Supplies Market Size and Forecast, 2013-2027 7. Japan Spectroscopy Equipment and Supplies Market Size and Forecast, 2013-2027 8. APEJ Spectroscopy Equipment and Supplies Market Size and Forecast, 2013-2027 9. MEA Spectroscopy Equipment and Supplies Market Size and Forecast, 2013-2027 10. Global Spectroscopy Equipment and Supplies Market Company Share, Competition Landscape and Company Profiles 10.1. Agilent Technologies, Inc. 10.2. Bruker Corporation 10.3. Hitachi High-Technologies Corporation 10.4. JEOL Ltd. 10.5. Shimadzu Corporation 10.6. Waters Corporation 10.7. Sartorius AG 10.8. Thermo Fisher Scientific Inc. 10.9. PerkinElmer, Inc. 10.10. Rigaku Corporation 10.11. Waters Corporation 10.12. Yokogawa Electric Corporation 10.13. Stellarnet, Inc. 10.14. AMETEK, Inc. 10.15. LECO Corporation 11. Research Methodology 12. Disclaimer
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Spectroscopy Equipment and Supplies Market
