Detailed analysis and forecast of the Spectrometry Market on a global and regional level

Spectrometry is a technique that involves ionization and separation of a test sample for detection of specific substances such as chemical compound, impurities, contaminants or pollutants with the help of interaction between mass and energy. There are three major types of spectrometry techniques divided on the basis of method of analyzing the test sample: atomic spectrometry, mass spectrometry and molecular spectrometry. These techniques are further divided into sub-categories according to specific characteristics such as source for sample separation, energy source and method of analysis.

The global spectrometry market can be segmented into three techniques, atomic spectrometry, mass spectrometry and molecular spectrometry. In 2013, out of all these three segments, molecular segment had highest contribution in terms of value, while atomic and mass spectrometry techniques were at second and third positions respectively. Among all these three segments, growth of the mass spectrometry segment is the highest and value wise it is expected to overcome other two segments by the year 2020. Spectrometry techniques are applicable in many industries such as pharmaceutical, healthcare, biotechnology, food and beverages, industrial chemistry and environmental. In pharmaceuticals, spectrometry techniques are used majorly for identification of new chemical entities, analyzing the reaction process, pharmacokinetic screening and analyses during all stages of drug discovery. In healthcare and clinical, these techniques are applied majorly for diagnostic purpose where it provides access to DNA and protein sequencing, for tissue and tissue fluid analysis, and identification of toxicity by metabolites in body organs, especially in kidneys. In environmental analyses spectrometry technologies are used for identification of pollutants, whereas in food and beverages it is applied for detection of toxicity.

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Geographically, North America which includes the United States and Canada continues to be a leading market for spectrometry. The United States market accounts for major contribution owing to larger large number of research institutes, higher spending on research and development activities and favorable funding environment compared to other regions. Although Canada’s contribution in North America revenue is significantly low as compared to the United States, yet there has been a positive shift in trend towards usage of spectrometry instruments considering the rise in awareness about food safety, pollution control and increased in research related activities.

Asia-Pacific region during the forecast is the fastest growing region owing to an estimated shift of research and development related activities to countries like China, India, Thailand, Indonesia, Japan and Malaysia. This is proven by recent development in which Waters Corporation signed a joint agreement with Chinese Pharmacopeia Commission to establish an open laboratory. Overall drivers to Asia-Pacific market for spectrometry include increasing investment in research and development activities especially in countries such as China, India and Malaysia and growth in government funding to projects. Rest of the World market is still at nascent stage and is expected to grow where countries like Brazil and South Africa driving the market growth.

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Some of the key companies operating in this market include Thermo Fisher Scientific, Bruker, Shimadzu, Waters Corporation, Agilent Technologies, PerkinElmer and AB Sciex.

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