Spectrometry Industry Grow at Fastest Rate as Companies Shift Their R&D Activities
Portland, OR -- (SBWIRE) -- 10/03/2017 -- Spectrometry is a technique in which compounds and elements are identified based on the emission of radiant energy by a substance when it is in a higher energy state. Spectrometry instruments are crucial in the pharmaceutical, analytical, and life science industry. There is a growth in demand in these industries for spectrometric instrument as it is an integral part of elementary research and its use in identification of new compounds & metals, drug composition identification, and bimolecular analysis. Owing to its applications in various industries, the global spectrometry market is expected to register a moderate CAGR during the forecast period. Bruker, AB Sciex, Waters Corporation, Thermo Fisher Scientific, Shimadzu, PerkinElmer, and Agilent Technologies are some of the key manufacturers in this market.
The global spectrometry market is segmented based on application, technology, and geography. Based on technology, the market is classified into atomic spectrometry, mass spectrometry, molecular spectrometry, and other spectrometric techniques. The molecular spectrometry segment contributes to the highest market share, whereas mass spectrometry would grow rapidly and expected to overtake other segments by 2020. Spectrometry finds its application in different industry sectors, such as environmental testing, pharmaceuticals, biotechnology, food & beverages testing, industrial chemistry, and others.
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In pharmaceuticals industry, it is used for pharmacokinetic analysis of biological samples, new drug identification, drug discovery, and analyzing different reaction processes. In environmental testing, it aids in identification of pollutants. Geographically, the market is segmented into Europe, North America, Asia-Pacific, and LAMEA. North America is accounted for the highest market share owing to the large investments in research, growth in number of research institutes, and availability of funds. Asia-pacific is projected to grow at the fastest rate as companies shift their R&D activities to countries such as India, China, and Malaysia.
· Detailed analysis of geographic segments helps identify opportunities for growth within the global spectrometry market.
· In-depth coverage of the global spectrometry market, which includes drivers, restraints, and opportunities is estimated to help professionals to understand market behavior.
· Deep-dive analysis of market trends and key developments provide information for the corporate sector.
· Porters Five Forces analysis examines the competitive structure of the global spectrometry market and assist market strategists in their decision-making process.
· Detailed study of the strategies of key leaders, partnerships, and acquisitions in the global spectrometry market help the stakeholders take better decisions.