Overview
The global portable spectrometer market is expected to reach USD 2,777.1 million by 2025 at a CAGR of 10.29% during the forecast period. Market Research Future (MRFR), in its report, envelops segmentation and drivers to provide a better glimpse of the market in the coming years.
The portable spectrometer industry is booming, with high demand all around the world. Life sciences, material chemistry, food & beverage, agriculture, environmental testing, forensics, nanotechnology, and drug development are just a few of the applications for these devices. Furthermore, the portable spectrometer market is being driven by the increasing usage of portable spectrometers to monitor environmental changes with data and information. Similarly, spectrometers are increasingly being used to identify the quantity of uric acid in a patient's urine. The portable spectrometer business is also driven by technology advancements such as smartphone spectrometers.
Portable spectrometers are widely used for the purpose of diagnosis. Medical mass spectrometry is used in medical labs to detect metabolic problems to detect whether biomarkers or enzymes are present, and conduct toxicity testing. Hence, many key players are implementing strategic moves such as business expansion, product development, product launch and collaboration, to develop medical application spectrometer and also to strengthen its position in portable spectrometer market. For instance, in August 2021, AstraZeneca's clinical sequencing business and Thermo Fisher Scientific Clinical sequencing business announced a collaboration to develop the next-gen sequencing (NGS)-based companion diagnostics machine (CDx) to complement AstraZeneca's growing range of targeted medicines. The firms will work together on a multiyear, worldwide basis. Hence the rise usage of spectrometer in medical application will provide lucrative growth in the portable spectrometer market during the forecast period.
Competitive Analysis
The key players of the global Portable Spectrometer Market Size are Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., ABB Group, PerkinElmer, Inc., Metrohm, Bruker Corporation, Hitachi High-Technologies Corporation, Jasco, Newport Corporation, Anton Paar GmbH, Texas Instruments Incorporated, Oxford Instruments, and Renishaw PLC. These companies manufacture and provide spectrometers and other associated accessories across the globe.
In July 2018, Metrohm acquired B&W Tek LLC, a leading Raman spectroscopy solutions provider based in the US. The acquisition aimed at expanding Metrohm’s portable spectroscopy product portfolio to cater to a wide application area, which helps it strengthen its market position.
In December 2016, Anton Paar GmbH purchased a product line of Raman spectroscopy from BaySpec Inc. based in San Jose, the US, and also licensed technology for the handheld Raman products from SciAps Inc. based in Massachusetts, the US. The two instruments were implemented and further developed in a new product department at Anton Paar OptoTec GmbH in Seelze, Germany. The purchase of Raman spectrometers and the Raman microscope was aimed at entering the molecular spectroscopy field.
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Segmental Analysis
The global portable spectrometer market has been segmented based on type, application, and region.
Based on type, the global portable spectrometer market is segmented into NIR, FTIR, Raman, and similar other spectrometers. The Raman spectrometer sub-segment accounts for the largest share in the type segment due to the early adoption of these instruments and current usage in research and life science laboratories. A near-infrared (NIR) spectrometer is an analytical instrument that examines pharmaceutical, chemical, and medical materials in bulk. These spectrometers offer spectral wavelength ranging from 800 to 2,500 nm. NIR spectrometers use high precision diode array detectors and silicon or lead-sulfide CCDs, which are generally more sensitive. It is used for the compositional, functional, and sensory analysis of ingredients, intermediates, and final products. It also provides information on moisture, protein, fat, and starch content of the sample. These spectrometers are deployed in the food and feed, agricultural, dairy, pharmaceutical, and chemical industries as these industries manufacture customer-specific products and focus on increasing plant production and profitability.
Based on application, the global portable spectrometer market has been segmented into life sciences, materials chemistry, food and agriculture, environmental testing, drug discovery, forensic science, nanotechnology, and others. The life science sub-segment holds the largest share in the application segment and is expected to record a CAGR of 11.99% during the forecast period. Spectrometers are routinely used in most life sciences laboratories for the identification and measurement of organic and inorganic compounds in a vast range of products and processes. For instance, spectroscopy is used as an analytical tool in life science undergraduate and postgraduate teaching labs for studies such as nucleic acid quantification, protein assays, and cell culture density measurements. Furthermore, spectrophotometers are used in life sciences R&D to study impurities in compound and structure elucidation of organic molecules, conduct the quantitative analysis of substances, and determine the molecular weight of substances. Technological advancements in spectrometers such as the development of high-throughput instruments, microvolume-sampling capabilities, and miniaturization and automation in sampling are also likely to boost the growth of this market.
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