The global portable spectrometer market is expected to reach USD 2,777.1 million by 2025 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.
The key players of the global Handheld 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.
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The segments evaluation of the portable spectrometer industry is based on application and type. The valuable segment insights on the worldwide portable spectrometer market offers notable players to make correct invest plans to receive long term benefits.
The type based portable spectrometer market segments are NIR, Raman, FTIR, and others. The FTIR segment can generate considerable revenue for the portable spectrometer market in evaluation period. The high need for FTIR portable spectrometer in chemical analysis, forensics, and environmental testing applications can promote the expansion of the portable spectrometer market in the analysis period. The high traction generated by Raman portable spectrometer segment can cause the portable spectrometer market to rise at the highest CAGR in the analysis period.
The application based, the portable spectrometer market segments are forensic science, life sciences, nanotechnology, drug discovery, food & agriculture, materials chemistry, environmental testing, and others. The gradual rise in the application of portable spectrometer in the food & agriculture, following in drug discovery activities can contribute largely to the rise of the worldwide portable spectrometer market rise in the forecast period.
As per MRFR geographic analysis, the portable spectrometer market in North America can boom in near future at a significantly high CAGR, followed by Europe. The constant investments by regional government in projects for research & development in the pharmaceuticals sector for the development of novel drug can impel the rise of the market across the analysis period in the North America region.
In Europe, the increasing need to execute stringent government norms for manufacturing of pharmaceuticals can impact on the regional market of portable spectrometer significantly. The rise in the need for medical screening can impel the rise of EU portable spectrometer market in the coming. The rise in projects that demand molecular spectroscopy can also boost EU can boost the regional market.
In APAC, the high application of booming pharmaceutical across India and other APAC regions can promote the market growth through the analysis period.
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