Market Highlights
The global portable spectrometer market spans across North America, Europe, Asia-Pacific, and the rest of the world.
Spectrometers are widely used in various industries to identify material characteristics through the measurement of emissions and absorption of electromagnetic spectra. There is a range of spectroscopic techniques, including atomic spectroscopy, mass spectrometry, molecular spectroscopy, and fluorescence spectroscopy. These techniques can either be used separately or in combination with one instrument. The miniaturization of spectrometers has led to the wider adoption of spectrometers for in-the-field testing and onsite measurements. The demand for portable spectrophotometers is expected to increase further as the industrial units implement these instruments for quality and process control.
According to the MRFR analysis, the global handheld spectrometer market had registered a market value of USD 1,548.6 million in 2019 and is expected to register a CAGR of 10.29% during the forecast period of 2019–2025. The need for obtaining quick results at a low cost is the major factor driving the growth of the portable spectrometer market across the globe. Furthermore, the rise in the demand for spectrometers from the environmental screening vertical and their rising adoption in the pharmaceutical and other industries also drives the demand.
Based on region, the portable spectrometer market has been segmented as North America, Europe, Asia-Pacific, and the rest of the world. North America held the largest share of 36.45% in the global portable spectrometer market in 2019 and is likely to dominate the market during the study period registering a CAGR of 8.91%. The presence of manufacturers such as Agilent Technologies, Inc., the research laboratories, and the food industry present in the region, which is developing and using various types of spectrometers for different applications, are some of the key factors driving the portable spectrometer market in the region. For instance, in 2020, Agilent Technologies, Inc. launched a new product line of Raman spectrometers named Agilent Vaya Raman. The new Agilent Vaya Raman raw material identity verification system is a handheld instrument that accelerates the quality control testing in the pharmaceutical and biopharmaceutical industries. Asia-Pacific is expected to be the fastest-growing regional market during the forecast period at a CAGR of 13.08% due to the increasing developments in the region in terms of medical science. The rising investments in healthcare by the government is expected to fuel market growth.
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Global Portable Spectrometer Market: Segmentation
Global Portable Spectrometer Market Research Report: Information by Type (NIR, FTIR, Raman Spectrometer, and Others), Application (Life Sciences, Material Chemistry, Food and Agriculture, Environmental Testing, Forensics, Nanotechnology, Drug Discovery, and Others), Region (North America, Europe, Asia-Pacific, and the Rest of the World)—Forecast till 2025.
The global portable spectrometer market has been segmented based on type and application. The type segment comprises 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. Similarly, based on application, the global portable spectrometer market has been segmented as 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.
There are various key players such as 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 that manufacture and provide spectrometers and other associated accessories across the globe.
Regional Analysis
As per MRFR geographic analysis, the portable spectrometer market in North America can boom in near future at a significantly high CAGR, followed by Europe. The constant investments by regional government in projects for research & development in the pharmaceuticals sector for the development of novel drug can impel the rise of the market across the analysis period in the North America region.
In Europe, the increasing need to execute stringent government norms for manufacturing of pharmaceuticals can impact on the regional market of portable spectrometer significantly. The rise in the need for medical screening can impel the rise of EU portable spectrometer market in the coming. The rise in projects that demand molecular spectroscopy can also boost EU can boost the regional market.
In APAC, the high application of booming pharmaceutical across India and other APAC regions can promote the market growth through the analysis period.
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Key Players
ABB (Switzerland), PerkinElmer Inc. (US), Shimadzu Scientific Instruments (Japan), Oxford Instruments plc (UK), Rigaku Corporation (US), TSI (US), Thermo Fisher (US), Bruker (US), Anton Paar GmbH (Austria), Metrohm AG (Switzerland), Agilent Technologies, Inc. (US), Hitachi, Ltd (Japan), Newport Corporation (US), and Jasco (US) are some notable names in the portable spectrometer market as listed by MRFR.
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