Global Spectrophotometer Market 2017-2021
Spectrophotometers are the instruments that send an electromagnetic radiation into the given target and measure the intensity of the light passing through the target. These instruments create a visual curve that describes a color by measuring the intensity of the transmitted or reflected light. This spectral data ensures that the color is constant across diverse substrates and production processes. Spectrophotometers measure the full spectrum and then use slices of that spectrum, to measure the parameters through mathematical modeling such as polymerase chain reaction (PCR), partial least squares (PLS), and neural networks.
Technavio’s analysts forecast the global spectrophotometer market to grow at a CAGR of 11.97% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global spectrophotometer market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Spectrophotometer Market 2017-2021
Technavio recognizes the following companies as the key players in the global spectrophotometer market: Thermo Fisher Scientific, Agilent Technologies, Hitachi High-Technologies, PerkinElmer, and Shimadzu.
Other Prominent Vendors in the market are: Analytik Jena, Beckman Coulter, Biochrom Xylem, Bio-Rad Laboratories, Bruker, Cole-Parmer, Hach, Hunter Associates Laboratory, INESA INSTRUMENT, JASCO, METTLER TOLEDO, PG Instruments, VWR, X-Rite, and Xylem.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increased consolidation. There has been a major change in the market landscape due to a series of M&A in the global spectrophotometer market. Vendors are adopting M&A to acquire technological expertise, enhance product portfolio, and expand their geographical presence. This has allowed the vendors to reduce their manufacturing cost and increase their production capacity, thereby allowing them to achieve economies of the scale.”
According to the report, one driver in the market is increasing use in cell culture. Cell culture refers to the cell removal from a plant or animals and their subsequent growth in a supportive artificial environment. The cells can be removed from the tissue directly and separated by mechanical or enzymatic methods before cultivation. They can also be derived from a cell strain or a cell line that is already been established. Factors such as the increasing incidence of chronic diseases, funding for cell-based research, growing regulatory approvals for vaccines based on cell culture, and technological enhancements in cell culture products will drive the cell culture market growth during the forecast period.
Further, the report states that one challenge in the market is raw material procurement challenges. As per the US Securities and Exchange Commission (SEC) regulations, it is mandatory for public companies to disclose a list of minerals known as conflict minerals, which are used for manufacturing spectrophotometers. The disclosure document about the supply chain of procuring minerals from the mines of the Democratic Republic of Congo is one step to stop illegal procurement of minerals from the Democratic Republic of Congo (DRC). The list of these conflict minerals includes tantalum, tin, tungsten, and gold (3TG).
Thermo Fisher Scientific, Agilent Technologies, Hitachi High-Technologies, PerkinElmer, Shimadzu, Analytik Jena, Beckman Coulter, Biochrom Xylem, Bio-Rad Laboratories, Bruker, Cole-Parmer, Hach, Hunter Associates Laboratory, INESA INSTRUMENT, JASCO, METTLER TOLEDO, PG Instruments, VWR, X-Rite, and Xylem.
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