Report

Portable Spectrometer Market By Product Type (Optical Spectrometer, Mass Spectrometer, Others); By Distribution Channel (Online, Offline); By Application (Life Sciences, Chemistry, Food & Agriculture, Others); By Region (North America, Europe, Asia Pacific, Middle East & Africa (Mea), South America) : Global Opportunity Analysis And Industry Forecast 2021-2027

  • Publish Date: Apr,2022
  • Report ID: QI040
  • Page : 200
  • Report Type : PDF (Email)
The global portable spectrometer market size was estimated at more than $1,674.7 million in 2020. The market is expected to grow, maintaining a CAGR of 9% during the forecast period from 2021 to 2027.

The portable spectrometer is a device that predicts the change in material within a specified range or spectrum. The device helps to identify the amount of a compound along with the evidence of minute components.

The portable spectrometer industry is boosting, owing to the high demand for portable spectrometers throughout the world. The portable spectrometers are suitable for various applications in material chemistry, agriculture, Life sciences, environmental testing, nanotechnology, food & beverage, forensics, and drug development. The device is broadly used to monitor variations in the environment and provides accurate data. Furthermore, spectrometers are highly preferred to test the percentage of uric acid available in a patient's urine. Meanwhile, technological advancements like smartphone spectrometers are another reason for the surge in market growth.

Portable spectrometers device is among few of the widely used gadgets in medical labs to detect the presence of enzymes. The device helps conduct toxicity tests. The portable spectrometers are convenient for various uses. Hence, key players are executing crucial strategies for business expansion. The companies are working on product development, new launches, partnerships to bring out more convincing medical application spectrometers. It will strengthen the position of the business in the portable spectrometer market. In 2021, the Thermo Fisher Scientific Clinical sequencing business and AstraZeneca's clinical sequencing business declared their partnership to produce the companion diagnostics machine (CDx) based on next-gen sequencing (NGS).

COVID-19 Impact

The COVID-19 infection has rapidly changed the lives of people. The virus brought the terror of life among the population. The COVID-19 originated pandemic reached as a threat to human health and moved on, posing a significant halt to global business, economy, and finance. Governments of several countries had to impose lockdown as the only way to save the population. Lockdown, however, put a pause in the production activities of the portable spectrometer. Hence, it impacted worldwide business negatively.

The major companies in the portable spectrometer market will have to bring up new plans for the post-COVID-19 recovery.

The number of COVID-19 cases is forecast to decline with the introduction of COVID-19 vaccines. The slump in the COVID-19 cases will help businesses to re-initiate. Thus, the portable spectrometer market may recover by the beginning of 2022.

Regional Analysis

North America held dominance by acquiring maximum shares in 2020. The growth of Asia-Pacific can grow at a significant pace during the forecast time frame.

North America will maintain its dominance throughout the analysis period, owing to leading companies like Agilent Technologies present in the region. The governments and private sectors are making significant investments in the development of technologies. Thus, the growing technologies will boost the region's portable spectrometer market share.

Additionally, the widespread food & beverage industry in the region will develop the demand for spectrometers.

Key Players

Agilent Technologies, Inc.
Thermo Fisher Scientific Inc.
ABB Ltd.
Metrohm AG
Perkinelmer Inc.
Bruker Corporation
Jasco Corporation
Hitachi High-Tech Corporation
MKS Instruments, Inc.
Anton Paar GmbH.
Other prominent players
Global Portable Spectrometer Market Segments

Key Segments

By Product Type

Optical Spectrometer
Mass Spectrometer
Others
By Distribution Channel

Online
Offline
By Application

Life Sciences
Chemistry
Food & Agriculture
Others
By Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America