Spectrometry Market Expected to Reach $20.3 Billion by 2031

Spectrometry market was valued at $11.1 billion in 2021, and is estimated to reach $20.3 billion by 2031, growing at a CAGR of 6.2% from 2022 to 2031. Spectrometry is the measurement of spectra formed by materials when they interact with sample or emit electromagnetic radiation. It is the analysis of light-matter interactions as well as reactions and measurements of radiation intensity and wavelength. It is widely used in spectroscopic evaluation of sample materials to identify certain substances like chemical compounds, impurities, contaminants, or pollutants. Depending upon the sample and requirement it can be examined through various molecular mass and atomic spectroscopy techniques.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 https://www.alliedmarketresearch.com/request-sample/512

By type, the market is segmented into molecular spectrometry, mass spectrometry, and atomic spectrometry. The molecular spectrometry segment generated maximum revenue in 2021, accounting $4,281.93 million of spectrometry market size, owing to its wide applications in life science industry and availability of numerous technologically advanced instruments. The mass spectrometry industry is expected to witness highest CAGR of 6.9% during the forecast period, owing to its rapid analysis with higher resolutions and launch of novel products with huge advancements such as by combination of the instruments with the chromatographic techniques.

Depending on end user, the market is classified into pharmaceutical & biotechnology companies, research & academic institutes, and others. The research & academic institutes segment dominated the market in 2021, with $5,023.17 million of spectrometry market size, owing to rise in R & D activities for drug discovery and toxicity testing. The others segment is expected to witness highest CAGR of 6.9% during the forecast period, owing to rise in awareness for food safety and environmental testing's.

North America accounted for a majority of the global spectrometry market share in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to technological advancements in spectrometry techniques, integration of advanced hardware and software processes in spectrometry devices, and presence of key & robust research infrastructure in the region. However, Asia-Pacific is anticipated to witness notable growth, owing to rise in R&D activities, implementation of food safety regulations, establishment of facilities, and increase in investments projects for end user's industries in the region.

𝐅𝐨𝐫 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 https://www.alliedmarketresearch.com/purchase-enquiry/512

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

• By type, the molecular segment was the highest contributor to the market in 2021.

• By end user, the research & academic institutes segment was highest contributor in 2021, and is expected to continue this trend during the forecast period.

• By region, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

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