Albany, NY -- (SBWire) -- 05/05/2015 --Spectrometry is a scientific technique employed to access properties of light within specific electromagnetic spectrum to identify variety of materials. In the past few decades spectrometry techniques have been resilient enough in providing scientists an informative tool to cater to vast array of applications in various industries. Overall competition in spectrometry market is intense with large conglomerates competing for considerably small application areas and end user segments. Multinational companies account for majority of the revenue share in overall market. The spectrometry market caters to several end user segments such as life sciences, petrochemical, food and safety, forensics among several others. Advanced spectrometry devices allow simultaneous analysis of low concentration analytes in blood samples without any need for sample preparation and other conventional processing techniques such as centrifugation and reagent preparation.
The substantial number of mass spectrometers that entered the market over the past two years illustrates both the fast pace of technological advancements, particularly in triple quadrupole LC/MS and Q-TOF, and the strong demand for these platforms. Several product launches with substantial improvements in sensitivity, resolution, speed and throughput are spurring high-end customers to upgrade instruments more often to avoid obsolete platforms.
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"Strong research and development efforts by equipment manufacturers – a testament to the large market opportunity – have enabled improved qualitative and quantitative capabilities, giving rise to new applications," said Transparency Market Research Senior Industry Analyst Christi Bird. "The increasing acceptance of MS in clinical diagnostics, applied testing in emerging economies, and its expanding use along the drug development pipeline are driving the market."
Despite the push to further enlarge the customer base by widening the instrument pricing range, mass spectrometers remain expensive and therefore, cost-prohibitive for many laboratories. In the U.S., sequestration measures and lack of funds from the American Recovery and Reinvestment Act grant compel MS suppliers to rely heavily on the more stable pharmaceutical, biotechnology, applied and industrial sectors, as well as emerging geographical regions for growth. However, the U.S. market offers the most potential for early clinical acceptance.
Suppliers continue to find pockets of growth by integrating multiple technologies, developing clinically-focused instruments, and diminishing performance trade-offs. In addition, competitors are looking to adopt the general life science trend of miniaturization to bring the technology to lower-budget laboratories.
"Instrument suppliers have yet to successfully bring MS technologies to lower-budget laboratories in the way that qPCR, flow cytometry and other genomics and proteomics vendors have," reflected Bird. "Once budget conditions improve for small- to mid-size laboratories, suppliers will shift attention to developing stripped-down, lower throughput, personal MS instruments with a smaller footprint and corresponding price tags that will appeal to a larger consumer base."
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Geographically, the spectrometry market is segmented into four prominent geographies: North America, Europe, Asia-Pacific and Rest of the World. Although market for spectrometry devices in developed economic countries such as the United States and Europe in terms of technological advancements has attained a saturation level yet widening of application areas such as space and aeronautics and defense would continue to contribute towards market growth in these regions. Moreover, funds allocation from government organizations and companies for conducting research and development activities at various universities and private research center level are other prominent drivers for the growth of spectrometer devices. Companies like Thermo Fisher Scientific and Waters Corporation in order to promote academic research by young scientists in mass spectrometry sponsor 2 research awards worth USD 35,000 each to academic scientists. Such activity not only promotes the overall spectrometry market but also encourages research studies to explore and develop novel techniques and application areas pertaining to mass spectrometry development. Apart from this AB SCIEX, an analytical tool manufacturer conducts Young Investigators Grant and Partnerships Award Program to provide special grants to budding researchers and scientists which can be used towards the purchase of selected AB SCIEX MS or LC/MS systems. Asia-Pacific and rest of the World market are among the fastest growing market by 2020 owing to inclination of investment by key players towards these markets primarily due to presence of large untapped customer base and increasing research activities in countries like India, China and other South East Asian countries.
Some of the key players in the global spectrometry market include Thermo Fisher Scientific, Inc., Perkin Elmer, Inc., Agilent Technologies, Inc., Bruker Corporation, Waters Corporation, Shimadzu Corporation, AB Sciex and others.
The global spectrometry market is segmented as follow:
Spectrometry Market, by Technology
- Atomic Spectrometry
- Atomic Absorption Spectrometry
- X-ray Diffraction Spectrometry
- X-ray Fluorescence Spectrometry
- Elemental Analyzers
- Inductively Coupled Plasma Atomic Emission Spectrometry
- Others
- Molecular Spectrometry
- Nuclear Magnetic Resonance Spectrometry
- Ultraviolet Visible Spectrometry
- Infrared Spectrometry
- Color Measurement
- Near Infrared Spectrometry
- Raman Spectrometry
- Others
- Mass Spectrometry
- Gas Chromatography-Mass Spectrometry
- Liquid Chromatography-Mass Spectrometry
- Matrix-Assisted Laser Desorption/Ionization-Time of Flight Spectrometry
- Triple-Quadrupole Liquid Chromatography-Mass Spectrometry
- Quadrupole-Time of Flight Liquid Chromatography-Mass Spectrometry
- Inductively Coupled Plasma Mass Spectrometry
- Others
Spectrometry Market, by Application
- Pharmaceuticals
- Biotechnology
- Industrial Chemistry
- Environmental Testing
- Food and Beverages Testing
- Others
Spectrometry Market, by Geography
- North America
- Europe
- Asia-Pacific
- Rest of the World
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Spectrometry Market : Globaly Reach USD 19,608.7 Million by 2020
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