January 23, 2013
Wellesley, Mass. – The global market for spectroscopy instrumentation is expected to increase at a compound annual growth rate (CAGR) of 11.7% for the forecast period of 2012 to 2017.
The spectroscopy market segment accounts for approximately 35% of total analytical instrumentation market revenues and is currently undergoing significant changes. New product introductions are helping manufacturers to provide better solutions for meeting customer demands. This technology sector caters to many specialized applications across several end users, including chemical and petrochemical, oil and gas, life sciences (including pharmaceutical and biotechnology), food safety, forensics, and environmental sectors.
The global spectrometry market increased from nearly $6.7 billion in 2010 to nearly $8.6 billion in 2012. The North American market grew from nearly $2.1 billion in 2010 to nearly $2.5 billion in 2011 and is expected to grow at a CAGR of 12.9% from 2012 through 2017. The European market is expected to grow at a CAGR of 12.1% from 2012 through 2017 and reached nearly $2 billion in 2011. The emerging markets segment generated the highest revenue and was expected to reach nearly $3.7 billion in 2012. .
The market also was analyzed by end users and it was observed that pharmaceutical and biotechnology had the biggest share of the market, with about 42%. The environmental industry had about a 14% share, and thus was the smallest market.
Global Markets for Spectroscopy Equipment (IAS004E) will help its readers:
Global Markets for Spectroscopy Equipment( IAS004E )
Publish Date: Jan 2013
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