Spectrophotometer Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast

Spectrophotometer is a scientific device/instrument that measures the amount of light absorbed by the sample. Spectrophotometer is used to measure the concentration of solutes in the solution by measuring the amount of light that is been absorbed by the solution in a cuvette placed in the spectrophotometer. Spectrophotometer measures light intensity as a function of wavelength. This is done by diffracting the light beam into spectrum of wavelengths, detecting intensities with a charge-couple device, which is then displayed on the detector in the form of a graph and eventually on the display device. Uses of spectrophotometer includes to measure the concentration of the solution, identification of organic compounds by determining absorption maximum, and is also used for determination of color within a spectral range. There are three types of spectrophotometers i.e. single beam, double beam, and split beam. In Single beam spectrophotometer, the intensity of incident light is measured by removing the sample so that all the light can pass through. This is comparatively cheaper as there are less number of components and is less complicated. Double beam spectrometer uses two light beams i.e. reference beam and sampling beam, which passes through the sample. Advantages of double beam is that they are highly stable, as reference and sample are measured at the same time. Spilt beam spectrophotometer is similar to double beam, however, instead it uses a beam splitter to send light along the sample and blank paths simultaneously to two different identical and separate detectors.

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Spectrophotometer Market Drivers:-

Growth of the spectrophotometer market is expected to be driver by increasing launch of novel products. In 2015, Implen Munich, a German-based company launched 4th generation NanoPhotometer, which redefines mobile spectroscopy and has battery power of 8 hours. The instrument can also be controlled through smartphones, PC, optional built-in compactible LCD touchscreen, and tablets. NanoPhotometer provides accuracy and has a broad dynamic range, it also has the smallest sample requirement. In 2015, Implen launched N50, N60, NP80, and C40 models of NanoPhotometer. C40 is used for cuvette based analysis. NanoPhotometer is used mostly by scientists for accurate results which aid in drug development, cancer research, neurodegenerative disease drug discovery, forensics, and others. Factors such as advancement in the field of spectroscopy, rising applications of spectroscopy in disease markers, toxicology, and increasing number of chronic diseases are expected to aid in growth of the market. For instance, in 2017, DeNovix DC, a U.S.-based company, launched DS-C Spectrometer, which features built in Easy Apps for accurate UV-Vis measurements, protein quantification, microbial quantification, and kinetic studies that aids in drug discovery, formation of vaccines, and others. Its intuitive interface helps the user to quickly create custom methods, which can be saved in password protected accounts.

High price of spectrophotometer is a major restraining factor for the market growth. Moreover, lack of skilled technicians to use these devices, is another factor negatively impacting growth of the market.

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Spectrophotometer Market Regional Analysis:-

North America is expected to hold dominant position in the market and is also expected to show significant growth in the spectrometer market, due to increasing launch of novel products in the region by key players. For instance, in February 2018, Thermo Fisher Scientific, a U.S.-based company, launched TSQ 9000 Triple Quadrupole GC-MS/MS System. This system has been designed to increase productivity, with enhanced sensitivity, and it also reduces maintenance related downtime by 98%. Europe is also expected to witness significant growth over the forecast period owing to increase in research & development expenditure and novel product launch. According to a survey conducted by European Union (EU) research & development (R&D) scoreboard reveals that in 2016 investments on overall R&D in Europe including healthcare sector has increased by 5.6%, which is expected to support growth in spectrophotometer market size. According to WHO, in Europe from 2006-2016, an increment of 11% in patients suffering from lifestyle diseases, AIDS, tuberculosis and malaria was observed and 46% increase in cardiovascular patients. Increasing number of patients suffering from various diseases is a driving factor for pharmaceutical companies to develop novel drugs, which in turn will lead to growth in spectrophotometer market as drug discovery requires advanced devices such as spectrophotometer. For instance, in 2017 Jenway, a U.K.-based company, launched new Genova bio life science spectrophotometer. It is specially designed for life science applications such as measuring concentration and purity of DNA, RNA and other biological samples.

Spectrophotometer Market Key Players:-

Key Players operating in the spectrophotometer market are Bruker Corporation, Thermo Fisher Scientific, Danher Inc., Water Corporation, Shimadzu Corporation, Bio Rad Corporation, Perkin Elmer, Jenway, Implen, Denovix, and others.

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