Technavio expects the portable analytical instrument market to grow by USD 2.52 billion between 2020 and 2025, expanding at a CAGR of 5.70% during the forecast period.
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Portable Analytical Instrument Market: Segmentation Analysis
The 120-pages report analyzes the portable analytical instrument market by the Technology (Spectroscopic analysis, Elemental analysis, and Others), Product (Spectrometers, Gas and TOC analyzers, Thermal analyzers, and Others), End-user (Pharmaceutical and biotechnology companies, Food and beverage companies, Environmental testing organizations, and Others), and Geography (APAC, North America, Europe, South America, and MEA).
By technology, the market witnessed observed maximum growth in the spectroscopic analysis segment in 2020. The segment is driven by the increased application of spectroscopic analysis across industries such as metals, minerals, polymers, catalysts, plastics, pharmaceuticals, proteins, thin-film coatings, ceramics, and semiconductors. The market growth in the segment will be significant during the forecast period. Similarly, in terms of product, the market witnessed maximum demand for spectrometers and in terms of end-users, pharmaceutical and biotechnology companies exhibited maximum demand for portable analytical instruments in 2020.
Portable Analytical Instrument Market: Growth Drivers
The portable analytical instrument market is driven by the rise in demand for generic drugs. Factors such as the growing number of patent expiries of branded drugs and the rising prevalence of various diseases have increased the demand for generic drugs. The growing acceptance of generic drugs has encouraged prominent drug manufacturers such as Pfizer, Novartis, and Sanofi to enter into partnership agreements with generic drug manufacturers to expand their product portfolios. Such developments are fostering the growth of the global portable analytical instrument market.
The market growth will further accelerate with the increasing prevalence of narcotics-related problems. However, design challenges in the miniaturization of handheld devices might negatively impact the growth of the portable analytical instrument market during the forecast period.
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Portable Analytical Instrument Market: Key Vendor Offerings
Agilent Technologies Inc.: The company offers portable analytical instruments such as 4300 Handheld FTIR and others.
Bruker Corp.: The company offers portable analytical instruments through its wide range of portable XRF spectrometers.
Danaher Corp.: The company offers a wide range of portable analytical instruments through its subsidiary, Hach Co.
F. Hoffmann-La Roche Ltd.: The company offers a portable analytical instrument named Cobas h 232 POC system.
HORIBA Ltd.: The company offers a wide range of portable analytical instruments under the brand name LAQUA.
Reasons to Buy Portable Analytical Instrument Market Report:
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist portable analytical instrument market growth during the next five years
- Estimation of the portable analytical instrument market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the portable analytical instrument market across APAC, North America, Europe, South America, and MEA
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of portable analytical instrument market vendors
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Portable Analytical Instrument Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.70% |
Market growth 2021-2025 |
USD 2.52 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.21 |
Regional analysis |
APAC, North America, Europe, South America, and MEA |
Performing market contribution |
APAC at 34% |
Key consumer countries |
US, China, Germany, Japan, and UK |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Agilent Technologies Inc., Bruker Corp., Danaher Corp., F. Hoffmann-La Roche Ltd., HORIBA Ltd., JASCO International Co. Ltd., Metrohm AG, Shimadzu Corp., Teledyne Technologies Inc., and Thermo Fisher Scientific Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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