A recent report published by Infinium Global Research on spectrophotometer market provides in-depth analysis of segments and sub-segments in the global as well as regional spectrophotometer market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional spectrophotometer market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global spectrophotometer market. According to the report, the global spectrophotometer market is projected to grow at a CAGR of 4.5% over the forecast period of 2019-2025.
Every chemical and biological compound absorbs, transmits, or reflects light at a definite range of wavelengths. Spectrophotometer measures how much a substance absorbs or transmits light at a specific wavelength. A spectrophotometer is widely used for quantitative examination in various fields such as chemistry, biochemistry, physics, biology, chemical engineering, clinical applications, etc. Any sector that deals with chemical substances or material science can use this technique. In biology, for example, it is used to determine the molar extinction coefficient of a specific protein sample. In biochemistry, it is used to determine enzyme-catalyzed reactions. In clinical applications, it is used to examine blood or tissues for clinical diagnosis.
Growing research and development activities across the globe is one of the major factors contributing to the growth of the market. Spectrophotometer plays an important role in new drug development, it helps to understand the molar extinction point of proteins and quantitative analysis of chemical substances. Furthermore, expanding the pharmaceutical industry is also contributing to the growth of the market as the spectrophotometer is widely used in the quality control department to estimate the sample concentration as well as to understand the concentration of impurities. On the other hand, the high cost of the equipment can hamper the market. However, a wide scope of applications in Pharmaceutical, Food and beverages and biotech industry will provide better growth opportunities to the market in the forecast period.
Based on the region, the spectrophotometer market is segmented into North America, Europe, Asia Pacific, and RoW. North America is expected to dominate the market in the forecast period followed by Europe. Presence of major pharma and instrument manufacturing players, growing healthcare industry is contributing to the growth of the market in this region. The market in the Asia Pacific is expected to grow with a significant rate in the forecast period, growing pharmaceutical industry and rising government funding for research and development in this region are augmenting the growth of the market.
The report on global spectrophotometer market covers segments such as technology, and application. On the basis of technology, the sub-markets include mass spectrometry, molecular spectrometry, and atomic spectrometry. On the basis of application, the sub-markets include pharmaceuticals, biotechnology, industrial chemistry, environmental testing, food and beverages testing, and other application.
The report provides profiles of the companies in the market such as Agilent Technologies, Bruker Corporation, Perkin Elmer, Inc., Thermo Fisher Scientific, Inc., Danher, Inc., Water Corporation, Shimadzu Corporation, Bio-Rad Corporation, Alpha Omega, AMETEK Process Instruments, and Other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of spectrophotometer market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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