Global Spectroscopy Market 2017-2021

The infographic below contains key findings from our analysis of the spectroscopy market

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Overview of the global spectroscopy market

The spectroscopy market report predicts the market to grow at a CAGR of nearly 7% by 2021.  The recent technological advancements will be one of the major spectroscopy market drivers. End-users, especially in the pharmaceutical and food and beverage industries have benefitted the most from constant advancements in spectroscopy technology. With constant R&D investments toward enhancing the quality of the product and operational efficiency, the recent years witnessed a rise in sales of spectroscopy equipment. With the growing competition, companies are highly focusing on introducing advanced products. 

North America accounted for the maximum spectroscopy market share during 2016 and will retain its market dominance during the next four years as well. Factors such as increasing investments in R&D and the high demand for sophisticated and high-performance test and measurement equipment will drive the growth of the spectroscopy industry in this region.

Competitive analysis and key vendors

The spectroscopy market appears to be fragmented owing to the presence of several global and regional vendors. The competition among the companies is mainly based on factors such as production volume, quality, innovation in technology, and aftersales services. Intense competition, improvements in technology, and changes in consumer preferences pose major challenges to spectroscopy manufacturers. The companies are highly focusing on improving revenue and are concentrating on developing products with innovative technologies.

According to the spectroscopy market research, the key vendors in the market are:

• Agilent Technologies
• Bruker
• Danaher
• Hitachi High-Technologies Corporation
• Jeol
• PerkinElmer
• Shimadzu Corporation
• Thermo Fisher Scientific

Other prominent vendors include FOSS, GBC Scientific Equipment, JASCO, Metal Power, Rigaku Corporation, and WATERS.

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Segmentation by application and analysis of the spectroscopy market

• Life sciences
• Pharmaceutical
• Industrial
• Environmental

During 2016, life sciences sector contributed to the major spectroscopy market share. Owing to factors such as the rise in aging population and increasing prevalence of chronic diseases, spectroscopy equipment manufactures will witness major demand from applications in the life sciences sector during the next few years as well.

Segmentation of technology and analysis of the spectroscopy market

• Mass
• Molecular
• Atomic

According to this market spectroscopy market research, the mass spectroscopy segment accounted for the maximum share of the market during 2016. Factors such as the growing demand for applications in the agriculture sector and medical research facilities in emerging countries and the growing funding for research activities in APAC, will drive the growth of this global market in the mass spectroscopy market segment.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global spectroscopy market?
• What are the key market trends impacting the growth of the global spectroscopy market?
• What are the challenges to market growth?
• Who are the key vendors in the global spectroscopy market?
• What are the market opportunities and threats faced by the vendors in the global spectroscopy market?
• Trending factors influencing the market shares of the APAC, Europe, North America, and ROW.
• What are the key outcomes of the five forces analysis of the global spectroscopy market?

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