Portable Spectrometer Market Expected to Reach $4,065.7 Million by 2030-Allied Market Research

According to a new report published by Allied Market Research, titled, “Portable Spectrometer Market by Product Type, Distribution Channel, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” The global portable spectrometer market size was valued at $1,675.7 million in 2020, and is projected to reach $4,065.7 million by 2030, registering a CAGR of 9.1% from 2021 to 2030..

In most life sciences laboratories, spectrometers are used to detect and measure organic and inorganic substances. In addition, spectrophotometers are employed in the biological sciences to investigate contaminants in compound and structure elucidation of organic molecules, perform quantitative analysis of substances, and calculate the molecular weight of substances. The spectrometry is an analytical technique that determines and identifies quantities of a compound within a sample, and it can also identify traces of components at minute concentrations. It is utilized both quantitatively and qualitatively to detect unknown compounds and calculate isotopic composition of a particular element in a molecule. It can also be used to observe fragments of a compound to determine its structure. The portable spectrometry provides increased sensitivity over other analytical systems, owing to reduced background intrusion and superior specificity from characteristic fragmentation patterns to detect unknown compounds. In addition, it can also identify existence of suspected compound and data regarding molecular weight of the compound in the mixture, and provides data about isotopic abundance of elements and chemical data determined for a short term.

Various governments globally are taking initiatives to detect and identify chemicals and hazardous drugs for research purpose. In January 2021, the government of Ohio proposed investments in technology to help investigators identify opioids. Hence, such factor are expected to provide lucrative growth in the market during the forecast period.

Similarly, NIR (near-infrared) spectroscopy is used in biomedical optics in a variety of ways, and it is a safe, non-invasive, and non-destructive form of examination for a range of medical problems. For instance, in September 2020, Hitachi High-Tech Analytical Science launched the EA1400 RoHS analyzer for the regulation of hazardous substances. The EA1400 benchtop XRF analyzer combines outstanding detection technology with cutting-edge X-ray optics to quickly screen RoHS chemicals. The EA1400 assists clients with performing the necessary screening to expedite and simplify RoHS testing in production environments as well as updating chemical control criteria when regulations change.

However, due to lockdown imposed in countries such as China, the U.S., India, and others due to the coronavirus issue, numerous manufacturers in the worldwide portable spectrometer market had to halt their business production. This disruption has a direct impact on the sales of portable spectrometer. However, it is expected that the reopening of production facilities and the introduction of coronavirus vaccines will lead to the reopening of portable spectrometer firms.

Key companies profiled in the portable spectrometer market report include Agilent Technologies, Inc., Thermo Fisher Scientific Inc., ABB Ltd., Metrohm AG, Perkinelmer Inc., Bruker Corporation, Jasco Corporation, Hitachi High-Tech Corporation, MKS Instruments, Inc., and Anton Paar GmbH.

Key Findings Of The Study

• The report provides an extensive analysis of the current and emerging portable spectrometer market trends and dynamics. 
• Depending on product type, the optical spectrometer segment dominated the portable spectrometer market, in terms of revenue in 2020.
• By application, the life sciences segment registered highest revenue in 2020.
• Based on distribution channel, the online sector is projected to register highest growth rate in the coming years.
• The key players within the portable spectrometer market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the portable spectrometer industry.
• The report provides an extensive analysis of the current trends and emerging opportunities of the market. 
• In-depth portable spectrometer analysis is conducted by constructing estimations for the key segments between 2021 and 2030.