Global Spectrometry Market: Snapshot
Spectrometry is a method utilized for assurance of mixes and components by estimation of the radiations transmitted by a question or substance inside a characterized electromagnetic range subjected to excitation remotely by other source. Spectrometry assumes a critical part in life science and diagnostic industry. A portion of the eminent regions of connected spectrometry instruments involves modern science, pharmaceuticals, food and drink testing, biotechnology, organic testing, alongside defense and security segments.
These enterprises have seen a developing interest for spectrometric instruments as they frame a necessary piece of essential research and are utilized in drug synthesis distinguishing proof, recognizable proof of new mixes and metals and bimolecular analysis. Because of its huge applications in various businesses, the worldwide spectrometry advertise is predicted to develop at a swift rate over the coming years.
According to analysts at Transparency Market Research (TMR), the global spectrometry market is expanding at expected to exhibit a CAGR of 7.2% over the forecast period from 2014 to 2020. In 2013, the market was estimate d to be worth US$12,212.9 mn. This number is forecasted to reach around US$19,608.7 mn by the end of 2020.
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Mass Spectrometry to Emerge Lucrative Segment by Technique
The global spectrometry market in terms of techniques is segmented into atomic spectrometry, mass spectrometry and molecular spectrometry. In the year 2013, molecular spectrometry segment offered significant contribution to the market in terms of value, while atomic and mass spectrometry techniques were at second and third positions respectively. In the coming years, the emergence of the mass spectrometry segment is expected to develop to a large extent and value wise it is expected to overcome other two segments by the year 2020.
Mass spectrometry is one of the most powerful tools used for the analyses of a wide range of chemical and biological entities. Furthermore, the high demand and resulting requirements from the pharmaceutical and biotechnology industries are the pivotal driving factors for some extraordinary recent advances in mass spectrometry technology.
Advancements in mass spectroscopy technology continue to increase, both, speed and resolution factors. The discovery of new tools and software have the potential to stimulate the increased usage of mass spectroscopy across drug development, proteomics, pharmaceuticals, food safety testing, and many other fields.
Burgeoning Research and Development to Boost Asia Pacific Market
North America is currently a leading market for spectrometry, and is expected to continue being so for the coming years. The United States market holds significant share of the market owing to a vast number of research institutes, increased spending on research and development activities and favorable funding environment as compared to other regions.