Portable Spectrometer Market is Projected to Attain an Outstanding Valuation of USD 1,548.6 Million by 2027

Pune, India, September 2020, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Portable Spectrometer Market.

Market Overview

Global Portable Spectrometer Market is expected to reach USD 1,548.6 Million by 2027 at a CAGR of 10.29% during the forecast period. Market Research Future (MRFR), in its report, envelops segmentation and drivers to provide a better glimpse of the market in the coming years.

Spectrometers are widely used in various industries to identify material characteristics through the measurement of emissions and absorption of electromagnetic spectra. There is a range of spectroscopic techniques, including atomic spectroscopy, mass spectrometry, molecular spectroscopy, and fluorescence spectroscopy. These techniques can either be used separately or in combination with one instrument. The miniaturization of spectrometers has led to wider adoption of spectrometers for in-the-field testing and onsite measurements. The demand for portable spectrophotometers is expected to increase further as the industrial units implement these instruments for quality and process control.

Competitive Analysis

The key players of the global portable spectrometer market are Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., ABB Group, PerkinElmer, Inc., Metrohm, Bruker Corporation, Hitachi High-Technologies Corporation, Jasco, Newport Corporation, Anton Paar GmbH, Texas Instruments Incorporated, Oxford Instruments, and Renishaw PLC. These companies manufacture and provide spectrometers and other associated accessories across the globe.

In July 2018, Metrohm acquired B&W Tek LLC, a leading Raman spectroscopy solutions provider based in the US. The acquisition aimed at expanding Metrohm’s portable spectroscopy product portfolio to cater to a wide application area, which helps it strengthen its market position.

In December 2016, Anton Paar GmbH purchased a product line of Raman spectroscopy from BaySpec Inc. based in San Jose, the US, and also licensed technology for the handheld Raman products from SciAps Inc. based in Massachusetts, the US. The two instruments were implemented and further developed in a new product department at Anton Paar OptoTec GmbH in Seelze, Germany. The purchase of Raman spectrometers and the Raman microscope was aimed at entering the molecular spectroscopy field.

Segmental Analysis

Global Portable Spectrometer Market has been segmented based on Type, Application, and Region.

Based on type, the global portable spectrometer market is segmented into NIR, FTIR, Raman, and similar other spectrometers. The Raman spectrometer sub-segment accounts for the largest share in the type segment due to the early adoption of these instruments and current usage in research and life science laboratories. A near-infrared (NIR) spectrometer is an analytical instrument that examines pharmaceutical, chemical, and medical materials in bulk. These spectrometers offer spectral wavelength ranging from 800 to 2,500 nm. NIR spectrometers use high precision diode array detectors and silicon or lead-sulfide CCDs, which are generally more sensitive. It is used for the compositional, functional, and sensory analysis of ingredients, intermediates, and final products. It also provides information on moisture, protein, fat, and starch content of the sample. These spectrometers are deployed in the food and feed, agricultural, dairy, pharmaceutical, and chemical industries as these industries manufacture customer-specific products and focus on increasing plant production and profitability.

Based on application, the global portable spectrometer market has been segmented into life sciences, materials chemistry, food and agriculture, environmental testing, drug discovery, forensic science, nanotechnology, and others. The life science sub-segment holds the largest share in the application segment and is expected to record a CAGR of 11.99% during the forecast period. Spectrometers are routinely used in most life sciences laboratories for the identification and measurement of organic and inorganic compounds in a vast range of products and processes. For instance, spectroscopy is used as an analytical tool in life science undergraduate and postgraduate teaching labs for studies such as nucleic acid quantification, protein assays, and cell culture density measurements. Furthermore, spectrophotometers are used in life sciences R&D to study impurities in compound and structure elucidation of organic molecules, conduct the quantitative analysis of substances, and determine the molecular weight of substances. Technological advancements in spectrometers such as the development of high-throughput instruments, microvolume-sampling capabilities, and miniaturization and automation in sampling are also likely to boost the growth of this market.