- Summary
- Table Of Content
- Methodology
Portable Spectrometer Market Size :
Global Portable Spectrometer Market Size is estimated to reach over USD 4,181.38 Million by 2031 from a value of USD 1,925.86 Million in 2022 and is projected to grow by USD 2,059.41 Million in 2023, growing at a CAGR of 9.3% from 2023 to 2031.
Portable Spectrometer Market Scope & Overview:
Portable spectrometers refer to handheld devices that are designed for analyzing a property of light as a function of its portion of the electromagnetic spectrum, typically its frequency, wavelength, or energy. Moreover, they enable off the bench detection and identification capabilities out of the lab, allowing in-field research and providing enhanced quality control, improved operational efficiency, and convenience. Their aforementioned benefits are key determinants for increasing the utilization of the device in food & beverage, pharmaceutical, agriculture, chemical, metallurgy, and other industries.
Portable Spectrometer Market Insights :
Portable Spectrometer Market Dynamics - (DRO) :
Key Drivers :
Rising utilization in chemical industry
Portable spectrometers are primarily used in the chemical sector for application in chemical analysis. They utilize light absorption for determining the purity and chemical characteristics of substances. They are also capable of determining the color of chemicals such as solvents, plasticizers, glycerin, petroleum spirits, and others.
Assessment of market trends suggests that factors including rising investments in expansion of chemical manufacturing units, increasing production of industrial chemicals, and increasing need for reliable solutions for chemical analysis are among the key prospects driving their adoption.
For instance, according to the American Chemistry Council, the overall production of industrial chemicals in the United States increased by 5.5% in 2021 in comparison to 2020. Additionally, according to Invest India, the total production of major chemicals and petrochemicals in India in FY 2022-23 reached up to 26,570 thousand metric tons, witnessing a growth rate of 4.61%.
Therefore, the proliferation of chemical sector is increasing the utilization of the spectrometer in chemical production facilities for application in chemical analysis, in turn driving the portable spectrometer market demand.
Growing pharmaceutical sector
Portable spectrometers are used in the pharmaceutical sector, particularly in the development of pharmaceuticals for examining drug crystalline structures, drug identity and purity, patent of antibiotics, interactions between active ingredients and excipients, and other related applications. Moreover, the spectrometer plays a crucial role in providing valuable information associated with the levels of active ingredients present in pharmaceutical compounds, along with detecting impurities, which are primary determinants for increasing in its utilization in pharmaceutical sector.
Factors including the growing incidence of chronic diseases, rising demand for medical drugs, and increasing pharmaceutical production are major determinants for driving the expansion of the pharmaceutical sector. For instance, according to the European Federation of Pharmaceutical Industries and Associations, the total production of pharmaceutical sector in the European region was valued at USD 339.7 billion in 2021, witnessing a rise of 4.6% in comparison to USD 324.7 billion in 2020.
Examination of market trends concludes that the rising pharmaceutical production is further driving the utilization of the spectrometers for analysis of drug identity and purity, drug crystalline structures, and others, in turn proliferating the portable spectrometer market demand.
Key Restraints :
Prevalence of stringent regulations and standards
Portable spectrometers are used in various industries including chemical, food & beverage, pharmaceutical, and others. However, the spectrometer manufacturers have to compulsorily comply with various stringent standards associated with the production of spectrometers, which is a prime factor restricting the market proliferation.
For instance, the spectrometer manufacturers have to comply with various standards such as European Pharmacopoeia, United States Pharmacopeia (USP<857>), ISO (International Organization for Standardization) standard, and others.
Additionally, United States Pharmacopeia requires the precision of ultraviolet–visible instruments including spectrometers to be over 0.5 nm across the operating range of the instrument. Assessment of market trends suggests that the prevalence of the aforementioned standards associated with the spectrometers is constraining the expansion of the market.
Future Opportunities :
Rising application in food & beverage industry is expected to promote potential opportunities
The rising application of spectrometers in food & beverage sector is expected to present potential opportunities for the expansion of the portable spectrometer market. The spectrometers are often used in the food & beverage sector for testing food and beverage products to ensure optimum quality and safety. They are used during food & beverage manufacturing to analyze the quality and safety of all raw ingredients, process intermediates, and final products. Moreover, they are also used for tracking contamination in food & beverage products, in turn minimizing adulteration, and confirming product consistency.
Factors including significant investments in food & beverage facilities, progressive changes in consumer food consumption patterns, increasing consumer demand for packaged and processed food products, along with rising hygiene standards in the food sector are expected to promote significant growth prospects for the market.
According to Food Drink Europe, the food and beverage sector in European Union was valued at EUR 1,121 billion (USD 1,292.0 billion) in 2022, depicting an incline of 2.6% in comparison to EUR 1,093 billion (USD 1,177.8 billion) in 2021. Examination of market trends concludes that the expansion of food & beverage sector is anticipated to increase the integration of spectrometers for testing of food and beverage products to ensure optimum quality and safety, in turn is emerging as one of many portable spectrometer market opportunities that will drive market expansion during the forecast period.
Portable Spectrometer Market Report Insights :
| Report Attributes | Report Details |
| Study Timeline | 2017-2031 |
| Market Size in 2031 | USD 4,181.38 Million |
| CAGR (2023-2031) | 9.3% |
| By Type | Optical Spectrometer, Mass Spectrometer, Fluorescence Spectrometer, and Others |
| By End-User | Food & Beverage, Pharmaceutical, Agriculture, Chemical, Metallurgy, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
| Key Players | Agilent Technologies Inc., Anton Paar GmbH, Bruker, Hitachi High-Tech Analytical Science, JASCO, Metrohm AG, PerkinElmer Inc., Renishaw plc., Shenzhen Threenh Technology Co. Ltd, Thermo Fisher Scientific Inc., Presto Group, BaySpec Inc. |
Portable Spectrometer Market Segmental Analysis :
By Type :
Based on the type, the market is bifurcated into optical spectrometer, mass spectrometer, fluorescence spectrometer, and others. In 2022, the mass spectrometer segment accounted for the highest portable spectrometer market share of 39.27% in the market. Mass spectrometers is an analytical instrument that is capable of separating ionized particles such as molecules, atoms, and clusters by utilizing changes in the ratios of its charges to respective masses, which are further used for determining molecular weight of the particles. Moreover, portable mass spectrometers offer several benefits including high sensitivity, faster analysis, and the ability to differentiate various isotopes among others. Assessment of market trends suggests that the above benefits of portable mass spectrometers are further increasing its utilization in pharmaceutical, chemical, food & beverage, and other industries.
For instance, BaySpec Inc. offers various portable mass spectrometers including continuity and portability miniature portable mass spectrometers in its product portfolio. The portable mass spectrometers are designed for applications including pharmaceutical, food & beverage, and others. Therefore, the rising availability of portable mass spectrometers for utilization in food & beverage, pharmaceutical, and other industries is a prime factor proliferating the portable spectrometer market growth.
The optical spectrometer segment is anticipated to register the fastest CAGR growth during the forecast period. Optical spectrometer is an instrument designed for measuring properties of light over a particular portion of an electromagnetic spectrum and is primarily utilized in spectroscopic analysis for identifying materials. Additionally, portable optical spectrometers are primarily used in the metallurgy sector for quantitative analysis of metals and alloys.
For instance, Hitachi High-Tech Analytical Science is among the manufacturers of spectrometers that offers portable optical emission spectrometers that are optimized for metallurgical applications among others. The portable optical spectrometers are capable of providing the chemistry of critical alloy elements at low detection limits. The portable spectrometer market analysis concluded that the increasing development of portable optical spectrometers for utilization in metallurgy and other industrial applications is a vital factor expected to drive the proliferation of the market during the forecast period.
By End-User :
Based on the end-user, the market is segregated into food & beverage, pharmaceutical, agriculture, chemical, metallurgy, and others. In 2022, the pharmaceutical segment accounted for the highest portable spectrometer market share. Factors including the growing incidence of chronic diseases, rising demand for medical drugs, and increasing pharmaceutical production are driving the expansion of the pharmaceutical segment.
For instance, Bruker offers BRAVO, designed for application in pharmaceutical sector in its product portfolio. The utilization of the spectrometers ensures quality control in the pharmaceutical sector while facilitating an efficient work routine and providing complete compliance to the latest pharmaceutical requirements.
Additionally, according to the European Federation of Pharmaceutical Industries and Associations, the total pharmaceutical production in Belgium was valued at USD 24,865.7 million in 2020. Examination of market trends concludes that the rising pharmaceutical production is driving the adoption of the spectrometers for applications including analysis of drug identity and purity, drug crystalline structures, and others, in turn driving the portable spectrometer market growth.
Chemical segment is expected to witness fastest CAGR growth during the forecast period. The proliferation of chemical segment is attributed to several factors including rising investments in development of chemical manufacturing units, increasing production of industrial chemicals, and growing demand for reliable solutions for chemical analysis among others.
The spectrometers are used in the chemical sector for applications involving chemical analysis to determine the purity and chemical characteristics of substances.
For instance, PerkinElmer Inc. offers a wide range of near infrared portable spectrometers for application in chemical sector among others. Additionally, Renishaw plc offer portable Raman spectrometers designed for fast and accurate chemical analysis. The portable spectrometer market analysis concluded that the rising development of the spectrometers for utilization in chemical applications is projected to drive the market expansion during the forecast period.
By Region :
The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
North America is estimated to reach over USD 1,409.54 Million by 2031 from a value of USD 649.21 Million in 2022 and is projected to grow by USD 694.23 Million in 2023. The market proliferation in the North American region is primarily driven by its deployment in pharmaceutical, food & beverage, chemical and other sectors. Analysis of portable spectrometer market trends concludes that the the growing chemical sector and increasing utilization of the spectrometers for chemical analysis to determine the chemical characteristics and purity of substances are among the significant factors driving the market expansion in the region.
For instance, according to the Chemistry Industry Association of Canada (CICA), the sector in Canada grew by 31% in 2022 as compared to 2020. Thus, the development of chemical sector is boosting the deployment of spectrometers, in turn accelerating market proliferation in the North American region. In addition, growing investments in expansion of pharmaceutical and food & beverage production facilities are anticipated to facilitate lucrative growth prospects for the market in North America during the forecast period.
Asia-Pacific is expected to register fastest CAGR growth of 9.6% and is estimated to reach over USD 1,099.29 Million by 2031 from a value of USD 494.56 Million in 2022 and is projected to grow by USD 529.90 Million in 2023. In addition, in the region, the China accounted for the maximum revenue share of 26.5% in the same year.
Additionally, factors including the proliferation of various industries including chemical, metallurgy, agriculture, pharmaceutical, and others are driving the market expansion in the Asia-Pacific region.
For instance, according to the India Brand Equity Foundation, India ranked third in terms of pharmaceutical production in 2021. According to IBEF, the local pharmaceutical sector in India consists of approximately 3,000 drug companies and 10,500 pharmaceutical manufacturing units. The spectrometers play a significant role in providing valuable information associated with the levels of active ingredients present in pharmaceutical compounds, along with detecting impurities. Analysis of portable spectrometer market trends concludes that the the growing pharmaceutical sector in the Asia-Pacific region is anticipated to drive the utilization of the spectrometers, thereby proliferating market expansion in the region during the forecast period.
Top Key Players & Market Share Insights:
The market is highly competitive with major players providing products to the national and international markets. The companies operating in portable spectrometer industry are adopting several strategies in research and development (R&D), product innovation, and end-user launches to hold a strong position in market. Key players in the market include-
- Agilent Technologies Inc.
- Anton Paar GmbH
- Shenzhen Threenh Technology Co. Ltd
- Thermo Fisher Scientific Inc.
- Presto Group
- BaySpec Inc.
- Bruker
- Hitachi High-Tech Analytical Science
- JASCO
- Metrohm AG
- PerkinElmer Inc.
- Renishaw plc.
Recent Industry Developments :
- In November 2022, Bruker launched a portable fourier transform infrared spectrometer, MOBILE-IR II. The spectrometer is ideal for applications demanding flexibility, mobility, and high spectral performance.
Key Questions Answered in the Report
What is portable spectrometer? +
Portable spectrometers refers to handheld devices that are designed for analysing a property of light as a function of its portion of the electromagnetic spectrum, typically its frequency, wavelength, or energy.
What specific segmentation details are covered in the portable spectrometer report, and how is the dominating segment impacting the market growth? +
For instance, by type segment has witnessed mass spectrometer as the dominating segment in the year 2022, owing to its increasing utilization in pharmaceutical, food & beverage, and chemical industries among others.
What specific segmentation details are covered in the portable spectrometer market report, and how is the fastest segment anticipated to impact the market growth? +
For instance, by end-user segment has witnessed chemical as the fastest-growing segment during the forecast period due to rising adoption of portable spectrometer for application in chemical analysis.
Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2031? +
Asia-Pacific is anticipated to register fastest CAGR growth during the forecast period due to rapid pace of industrialization and growth of multiple industries such as chemical, metallurgy, agriculture, pharmaceutical, and others.
