How Has the Novel spectrometry Market Size Evolved in Recent Years?
The novel spectrometry market has seen considerable growth due to a variety of factors.
• The market size for novel spectrometry has seen substantial growth in recent times. Forecasts predict its increase from $4.39 billion in 2024 to $4.76 billion in 2025, experiencing a compound annual growth rate (CAGR) of 8.3%.
The expansion during the historical period is primarily due to increased demand for spectrometry solutions, greater need for accurate analytical instruments, more global events centered around novel spectrometers, along with the continued demand for exact analytical tools.
What Is The Forecast For The Novel spectrometry Market Size?
The novel spectrometry market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations suggest that the novel spectrometry market will experience robust growth in the coming years, with the market size anticipated to reach $6.47 billion in 2029, demonstrating a compound annual growth rate (CAGR) of 8.0%.
The reasons for this projected surge consist of a renewed emphasis on drug discovery and development within the pharmaceutical sector, a rising implementation of spectrometry within the food and beverage industry, together with a growing focus on miniature and portable devices. During the forecast period, trends such as the creation of multi-dimensional spectrometry methodologies, AI integration for data interpretation, progress in mass spectrometry technology, individualized medicine and genomics, besides the introduction of innovative novel spectrometry platforms are expected to dominate.
What Are The Essential Drivers Behind The Growth Of The Novel spectrometry Market?
The growth of the novel spectrometry market is expected to be boosted by the surging demand for personalized medicine. Personalized medicine, a tailor-made approach to treatment that incorporates elements of a patient's unique genetic makeup, environment, and lifestyle, is increasingly in demand due to developments in genomic science. These advancements faciliate precision treatment leading to better patient outcomes, since customized therapies yield more efficient and targeted results. Novel spectrometry contributes to the rise in demand for personalized medicine by facilitating accurate biomarker examination and tailor-made treatment tactics, enhancing the accuracy and success of individualized treatments. For instance, the Personalized Medicine Coalition, an American non-profit organization, reported in February 2024, that the U.S. Food and Drug Administration (FDA) greenlighted 16 new personalized therapeutics for rare conditions in 2023, significantly more than the 6 granted in 2022. Therefore, the heightened requirement for personalized medicine is the driving force behind the expansion of the novel spectrometry market.
How Is The Global Novel spectrometry Market Divided Into Key Segments?
The novel spectrometrymarket covered in this report is segmented –
1) By Type Of Spectrometers: Atomic Absorption Spectrometer, Mass Spectrometer, Near Infrared Spectrometer, Nuclear Magnetic Resonance Spectrometer, Raman Spectrometer, X-Ray Fluorescence Spectrometer
2) By Company Size: Small, Mid-Sized, Large
3) By End-User: Agriculture Or Pesticide Testing, Environmental Analysis, Food Biotechnology, Forensic Analysis, Pharmaceutical Analysis, Other End Users
Subsegments:
1) By Atomic Absorption Spectrometer: Flame Atomic Absorption Spectrometers (FAAS), Graphite Furnace Atomic Absorption Spectrometers (GFAAS), Hydride Generation Atomic Absorption Spectrometers
2) By Mass Spectrometer: Quadrupole Mass Spectrometers, Time-of-Flight Mass Spectrometers (TOF-MS), Ion Trap Mass Spectrometers, Orbitrap Mass Spectrometers
3) By Near Infrared Spectrometer: Dispersive Near Infrared Spectrometers, Fourier Transform Near Infrared Spectrometers (FT-NIR), NIR Spectrometers for Industrial Applications
4) By Nuclear Magnetic Resonance Spectrometer: High-Field NMR Spectrometers, Low-Field NMR Spectrometers, Portable NMR Spectrometers
5) By Raman Spectrometer: Dispersive Raman Spectrometers, FT-Raman Spectrometers, Portable Raman Spectrometers
6) By X-Ray Fluorescence Spectrometer: Energy Dispersive X-Ray Fluorescence (EDXRF) Spectrometers, Wavelength Dispersive X-Ray Fluorescence (WDXRF) Spectrometers, Portable X-Ray Fluorescence Spectrometers
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What Emerging Trends Are Influencing The Growth Of The Novel spectrometry Market?
Leading businesses in the novel spectrometry market are concentrating their efforts on creating highly advanced spectroscopy solutions, including innovative triple-quadrupole mass spectrometers. These efforts are aimed at boosting their analytical abilities and augmenting precision and sensitivity in the analysis of complicated samples. The term "novel triple-quadrupole mass spectrometers" pertains to the upgraded versions of triple-quadrupole mass spectrometers, designed specifically to offer superior performance in both quantitative and qualitative analyses. As an illustration, Bruker Corporation, a scientific instruments manufacturer based in the US, unveiled the EVOQ DART-TQ+ in June 2023. This is a groundbreaking triple-quadrupole mass spectrometer, developed for the chromatography-free mass spectrometry sector. It targets applied market categories including food and beverage, forensic toxicology, industrial, and environmental analysis. The system seamlessly integrates a fully-integrated direct analysis in real time (DART) ionization technique source, which simplifies routine analysis and removes the need for complicated gas or liquid chromatography, all the while catering to the need for affordable and eco-friendly workflows.
Who Are the Key Players In The Novel spectrometry Market?
Major companies operating in the novel spectrometry market are:
• Thermo Fisher Scientific Inc.
• Danaher Corporation
• Agilent Technologies Inc.
• Teledyne Photon Instruments
• PerkinElmer Inc.
• LECO Corporation
• Endress+Hauser Group
• Shimadzu Corporation
• Waters Corporation
• Bruker Corporation
• Horiba Ltd.
• FLIR Systems Inc.
• Sciex
• JEOL Ltd.
• Oxford Instruments plc
• Rigaku Corporation
• Peak Scientific Instruments Ltd.
• Nanalysis Corp.
• Scion Instruments
• Hiden Analytical Ltd.
• Labman Automation Ltd.
• Advion Inc.
• Exciton Inc.
• SRI Instruments
What Are The Regional Insights Into The Novel spectrometry Market?
North America was the largest region in the novel spectrometry market in 2024. The regions covered in the novel spectrometry market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
