Enjoy complimentary customisation on priority with our Enterprise License!
The global portable analytical instrument market size is estimated to grow by USD 2,901.56 million at a CAGR of 5.72% between 2022 and 2027.
There is a global concern for food safety, as consumers have become aware of the adverse effects emerging from contaminated food. The main agents of contamination are Microbial pathogens, toxic chemicals, and radioactive materials. Nearly all of them have been infected with a food-borne illness. While most of these diseases are short-term and curable, in certain exceptional cases, they can cause death. Due to changes in the way consumers eat, food safety has become an even more pressing issue, the popularization of mass catering establishments, and the globalization of food supply. To ensure that the authorities of food safety around the globe comply with and follow strict regulatory restrictions on healthy foods in order to satisfy the needs of informed consumers, companies in the food & beverage sector would continue to rely on portable analyzers. They detect toxic materials quickly and accurately across stages of the manufacturing process.
Technavio has segmented the market into End-user, Product, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
To learn more about this report, Request Free Sample
Pharmaceutical and Biotechnology
The market share growth by the pharmaceutical and biotech. comp. segment will be significant during the forecast period. For pharmaceutical and biotechnology companies, quality control becomes a critical aspect of producing high-quality end-products adhering to the guidance of regulatory authorities, and following their regulations. Ensuring that these companies are in full compliance with the present GMP will also become essential to their identification and quantification of raw materials.
Get a glance at the market contribution of various segments View a PDF Sample
The pharmaceutical and biotech. comp. segment was valued at USD 2,447.52 million in 2017. To tackle the issue of counterfeit drugs, companies are offering compatible software programs with portable analyzers to attract pharmaceutical companies. This will help pharmaceutical manufacturers, who are undertaking daily practice and making reasoned business decisions, to take advantage of the portability analyzers. The emergence of portable Raman spectrometers will further support the market growth for end-users in the pharmaceutical and biotechnology sector during the forecast period.
Spectrometers
Handheld spectrometers are the most widely manufactured and utilized portable analytical instruments. This is primarily due to the ease of understanding the detection principle used in various spectroscopic techniques. The self-recording property, which refers to the automatic logging of the infrared spectrum while the instrument performs photometry, makes these devices easy to manufacture and integrate into various detection procedures. These days technological advances are being welcomed in various industries, and the adaptability of these analyzers is set to grow and will drive the growth of the spectrometers segment of the global portable analytical instrument market during the forecast period.
Gas and TOC analyzers
To comply with various environmental regulations, industries continuously need to check their gas emissions for pre-defined permissible levels. The portable gas analyzers offer cost-effective solutions to various industries and environmental monitoring organizations to keep harmful gasses in check. Emission standards shall be established for gases, such as nitrogen dioxide by burning fuel at high temperatures and compared with an analysis of the results already carried out. In power generation facilities, waste disposal sites, and exhaust gasses from diesel engines of vessels and vehicles, portable gas analyzers shall be used on-site to measure combustion gases from boilers and turbines. The analyzers also use a large-volume furnace to prevent severe-duty samples from plugging or failing prematurely and significantly extend routine maintenance intervals. This, in turn, will drive the growth of the gas and TOC analyzers segment of the global portable analytical instrument market during the forecast period.
For more insights about the market share of various regions View PDF Sample now!
Asia is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. Globally, Asia is expected to witness steady growth in the market in focus. This is attributed to increasing mergers and acquisitions and new investments in the portable analytical instrument market. In this area, support for research activities is growing. Singapore has developed a friendly business ecosystem, which is attracting healthcare companies to the country as it has an efficient operating environment and a robust legal framework. Increasing investments in the pharmaceutical and biotechnology industry will increase the demand for portable analytical instruments in the region. In view of the increasing technological progress in molecular biology, China and Japan are major sources of revenue for this region. Such initiatives make extensive use of instruments and consumables, which will propel their demand in Asia during the forecast period.
The outbreak of COVID-19 in 2020 compelled pharmaceutical and biotechnology companies to increase their research activities to develop vaccines and drugs to treat patients in Asia. The market is expected to grow due to the increasing trend of development of novel medicines in pharmaceutical and biotechnological sectors as well as increased demand for quality testing by food processing companies. Also, rising awareness among consumers about consuming contamination-free F&B products and the rising demand for environmental monitoring, are expected to drive the market in focus in this region during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Agilent Technologies Inc. - The company offers portable analytical instruments such as 4300 Handheld FTIR and others.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
The rise in demand for generic drugs is driving growth in the portable analytical instrument market. Pharmaceutical drugs are chemicals and biochemical substances used in the prevention or treatment of diseases. The global generic drugs market is one of the major sub-markets of the global pharmaceutical market, and it will grow at a significant rate during the forecast period.
However, the developments and innovations in the generic drugs market are increasing. Heavy expenditure on the R&D of these drugs by companies drives market growth. The specific medicinal products may be delivered by pharmaceutical companies with a strong infrastructure. This will boost the demand for portable analytical instruments, thereby will drive the growth of the global portable analytical instrument market during the forecast period.
The rise in electrical and electronic components in the automobile industry is a key trend in the portable analytical instrument market. A widespread implementation of wired and wireless serial communications is currently occurring in vehicles, and these systems also contribute to the demand for electrical measurement equipment. The growing use of wired and wireless communication systems in cars is expected to drive the demand for electrical measurement equipment.
Due to the restructuring of the automobile production process, in countries such as the US, the automotive sector has seen a return to the level of sales of passenger cars and commercial vehicles returning to the pre-crisis. Therefore, automobile companies are witnessing profitaibitly in the automobile industry. The demand for electrical measurement devices in the global automobile industry is expected to increase with the increased use of these technologies, thereby driving the growth of the global portable analytical instrument market during the forecast period.
The lack of trained professionals is a major challenge in the portable analytical instrument market. With the use of portable and handheld analyzers increasing, the analysis instrument industry is shifting from its fixed analytical instruments to more advanced tools, the technologies being used in these devices are undergoing major changes at a rapid pace. Keeping up to date with rapid technological changes is becoming challenging for companies.
Moreover, professionals with both medical expertise and software knowledge are difficult to find, and this problem gets compounded due to frequent software upgrades and increasing features for portable devices. Therefore, in the case of portable analytical instruments, a lack of experienced staff is likely to create difficulties, thereby hindering the growth of the global portable analytical instrument market during the forecast period.
Buy Now Full Report and Discover More
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Portable Analytical Instrument Market Customer Landscape
The portable analytical instrument market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Portable Analytical Instrument Market Scope |
|
Report Coverage |
Details |
Page number |
177 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.72% |
Market growth 2023-2027 |
USD 2,901.56 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.18 |
Regional analysis |
Asia, North America, Europe, and Rest of World (ROW) |
Performing market contribution |
Asia at 35% |
Key countries |
US, Germany, UK, China, and Japan |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Agilent Technologies Inc., Bio Rad Laboratories Inc., Bruker Corp., Danaher Corp., Eppendorf SE, F. Hoffmann La Roche Ltd., Hitachi Ltd., JASCO International Co. Ltd., JEOL Ltd., Metrohm AG, Mettler Toledo International Inc., PerkinElmer Inc., Rigaku Corp., Rudolph Research Analytical, Shimadzu Corp., Spectris Plc, Teledyne Technologies Inc., Thermo Fisher Scientific Inc., Waters Corp., and HORIBA Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
View Sample PDF at your Fingertips
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.