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.