According to a new report published by Allied Market Research, titled, Portable Spectrometer Market by Product Type (Optical Spectrometer, Mass Spectrometer and Others), Distribution Channel (Online, and Offline), and Application (Life Sciences, Chemistry, Food & Agriculture, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030
Rise in R&D investment, technological advancement in mass spectrometry, increase in industrialization, and growth in food & beverages, chemicals, & manufacturing industries drive the growth of the global portable spectrometer market. However, fluctuating currency exchange rates restrains the market to some extent. On the other hand, untapped potential of the emerging economies and increase in use of mass spectrometry techniques present new opportunities in the upcoming years.
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Leading players of the global portable spectrometer market analyzed in the research 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.
- The outbreak of the COVID-19 pandemic led to global lockdown which gave way to disruptions in the production facilities of portable spectrometer which are used in industries such as life science, healthcare, and others. This in turn, hampered the market.
- However, the market is expected to revive soon.
The report offers detailed segmentation of the global portable spectrometer market based on type, distribution channel, application, and region.
Based on type, the optical spectrometer segment held the highest market share in 2020, holding nearly two-fifths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the mass spectrometer segment is estimated to register the highest CAGR of 9.5% from 2021 to 2030.
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Based on distribution channel, the offline segment held the largest market share in 2020, holding 85% of the total portable spectrometer market share, and is expected to continue its leadership status during the forecast period. Moreover, the online segment is projected to register the highest CAGR of 10.4% from 2021 to 2030.
Based on region, North America contributed to the highest share in terms of revenue in 2020, holding more than two-fifths of the total market share, and is estimated to continue its dominant share by 2030. Moreover, the Asia-Pacific region is projected to manifest the fastest CAGR of 10.3% during the forecast period.
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