Albany, NY -- (SBWIRE) -- 07/07/2014 -- According to a new market report published by Transparency Market Research Global Spectrometry Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019", the market was valued at USD 11.16 billion in 2012, and is expected to reach USD 15.90 billion by 2019, growing at a CAGR of 5.2% from 2013 to 2019. Lack of adequate power infrastructure and increasing demand for reliable electricity delivery are the major driving forces of this market.
Browse the full Global Spectrometry Market Report: http://www.transparencymarketresearch.com/spectrometry-market.html
Spectrometry Industry is witnessing a healthy growth rate due to continuous requirement of spectrometry instruments in various industries including pharmaceutical, chemical, biotechnology and foods and beverages. In the overall spectrometry market, pharmaceutical and biotechnological segments enjoyed a market share of 21% and 20% respectively in 2011. The spectrometry market has exhibited sustainable development owing it to driving factors such as increase in number of criminal cases, raising application in various industries and accuracy in detection of the narcotics and explosives. Coupling of chromatography techniques with mass spectrometry is further supporting the growth of spectrometry industry.
The global spectrometry market is expected to grow at a CAGR of 6.9% from 2011 to 2017 and is expected to reach USD 15.2 billion by 2017.
The North America spectrometry market holds the maximum market share and is valued at USD 3.8 billion in 2011 and is expected to reach USD 5.5 billion by 2017 growing at a CAGR of 6.2% from 2011 to 2017. The Europe based spectrometry market was valued at USD 3.0 billion in 2011 and is expected to grow at a CAGR of 6.7% to reach USD 4.5 billion by 2017.
The global molecular spectroscopy market was valued at USD 3.8 billion in 2011 and is expected to grow at a CAGR of 5.7% to reach USD 5.4 billion by 2017. The atomic spectroscopy was valued at USD 3.1 billion in 2011 and is expected to grow at CAGR of 6.4% from 2011 to 2017.
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