According to a new market report published by Transparency Market Research "Spectrometry Market (Atomic, Molecular and Mass Spectrometry) - Global Scenario, Trends, Industry Analysis, Size, Share & Forecast 2011 - 2017", global spectrometry market was worth USD 10.2 billion in 2011 and is expected to reach USD 15.2 billion in 2017, growing at a CAGR of 6.9% from 2011 to 2017. In the overall global market, the North America is expected to maintain its lead position in terms of revenue till 2017. The North America is expected to enjoy 36.2% of global spectrometry market revenue share in 2017 followed by Europe.
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Spectrometry Industry is witnessing a healthy growth rate due to continuous requirement of spectrometry instruments in various industries including pharmaceutical, chemical, biotechnology and foods and beverages. In the overall spectrometry market, pharmaceutical and biotechnological segments enjoyed a market share of 21% and 20% respectively in 2011. The spectrometry market has exhibited sustainable development owing it to driving factors such as increase in number of criminal cases, raising application in various industries and accuracy in detection of the narcotics and explosives. Coupling of chromatography techniques with mass spectrometry is further supporting the growth of spectrometry industry.
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The global spectrometry market is expected to grow at a CAGR of 6.9% from 2011 to 2017 and is expected to reach USD 15.2 billion by 2017. The North America spectrometry market holds the maximum market share and is valued at USD 3.8 billion in 2011 and is expected to reach USD 5.5 billion by 2017 growing at a CAGR of 6.2% from 2011 to 2017. The Europe based spectrometry market was valued at USD 3.0 billion in 2011 and is expected to grow at a CAGR of 6.7% to reach USD 4.5 billion by 2017.
The global molecular spectroscopy market was valued at USD 3.8 billion in 2011 and is expected to grow at a CAGR of 5.7% to reach USD 5.4 billion by 2017. The atomic spectroscopy was valued at USD 3.1 billion in 2011 and is expected to grow at CAGR of 6.4% from 2011 to 2017.