Global Spectrometry Market is Expected to Reach $20.3 Billion by 2031: Says Allied Market Research

Portland, OR, June 28, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Spectrometry Market size was estimated at $11.1 billion in 2021 and is expected to hit $20.3 billion by 2031, registering a CAGR of 6.2% from 2022 to 2031. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.

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Rise in use of spectrometry methods in the pharmaceutical and biotechnological industries for drug testing, drug discovery, protein testing, raw materials testing, quality assurance, and quality control of goods are the primary reasons driving the growth of the global spectrometry market. On the other hand, these instruments are quite expensive with significant installation and maintenance costs, which impedes the growth to some extent. However, technological improvements are presently forcing market players to produce new products and increase the amount of cloud-based data needed for analysis, which has created an array of opportunities for the key players in the industry.

Covid-19 Scenario-

• Mass spectrometry studies happened to improve the understanding of t SARS-CoV-2 viral pathogenesis while engendering diagnostic tools to perk up PCR-based methodologies. 
• Moreover, mass mapping with high-resolution mass spectrometry was used to categorize and detect the viral variants of COVID-19. Such rapid utilization of the spectrometry instruments for research studies had a sheer positive impact on the global spectrometry market.

The global spectrometry market is analyzed across type, end user, and region. Based on type, the molecular spectrometry segment accounted for nearly two-fifths of the total market share in 2021, and is expected to rule the roost by 2031. The mass spectrometry segment, however, would garner the fastest CAGR of 6.9% throughout the forecast period.

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Based on end-user, the research and academic institutes segment contributed to more than two-fifths of the total market revenue in 2021, and is projected to lead the trail by 2031. The others segment, on the other hand, would exhibit the fastest CAGR of 6.9% during the forecast period.

Based on region, the market across North America held the major share in 2021, garnering more than two-fifths of the global market. Asia-Pacific, simultaneously, would manifest the fastest CAGR of 7.7% throughout the forecast period.

The key market players analyzed in the global spectrometry market report include Bruker Corporation, Danaher Corporation (SCIEX), Endress+Hauser Group (Analytics Jena GmbH), PerkinElmer, Waters Corporation Inc., Leco Corporation, Agilent Technologies, Shimadzu Corporation, Thermo Fisher Scientific Inc., and Kore Technology. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.

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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.