The Global Laser-Induced Plasma Spectrometers Market size is projected to grow from USD 1,975.2 million in 2020 to USD 2,867.6 million by 2028 at a CAGR of 10.5% during the forecast period (2020-2028). The growing demand for cost-effective and accurate testing solutions coupled with increasing research & development activities are expected to drive the growth of this market over the coming years.
Laser-induced Plasma Spectrometers are the equipment that is used for the measurement of gas productively. It includes handheld and desktop-type spectroscopes that emit a beam of light on the sample, then measures how much energy is reflected back. This helps to find out if any particles are present in the air or not. Different types available in this category include Optical Spectrophotometer (OS), Atomic Absorption Spectrophotometers (AAS) among others.
On the basis of Type, the market is segmented into Handheld and Desktop.
Handheld Laser-induced plasma spectrometer refers to a type of device that is designed for use in the field. They are used by laboratory, industrial and environmental testing specialists onsite during sampling or monitoring activities. These devices come with two types: integrated laser-based LIPSS measuring instruments which provide near real-time analysis; and handheld LIPSS which measure both NIR solutions such as pharmaceuticals, food & beverage samples as well as liquid matrixes like soil or water.
Desktop LIPSS is a stationary and laboratory-based instrument. They provide a range of applications, such as pharmaceutical analysis which allows for rapid identification of drugs to detect counterfeits or illegal substances; environmental testing involving air monitoring with the ability to measure volatile organic compounds (VOCs) at low concentrations in an area that exceeds the capabilities of handheld devices; food & beverage analyses including antibiotic residues detection.
On the basis of Application, the market is segmented into Pharmaceutical, Industrial, Environmental Testing, and Biotechnology. The pharmaceutical segment accounted for the largest market share, followed by industrial. The pharmaceutical industry has witnessed exponential growth due to an increase in drug discovery research & development activities globally leading to increased demand for low cost and ultra-sensitive analysis techniques like laser-induced plasma spectroscopy methods that can be used across various stages life cycle ranging from initial screenings through regulatory approvals before reaching post-marketing surveillance phase.
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The North American market is mainly driven by the US due to its significant presence in the pharmaceuticals, biotechnology, and healthcare sector. With an increase in R&D activities globally, North America may continue to dominate this market till 2028.
The Latin American region is projected to grow significantly during the forecast period owing to increasing investments from government bodies & private companies towards drug discovery research. The Asia Pacific is expected to account for the fastest regional growth during 2021-2028 on the back of rapid economic development and increased demand for drugs among the population coupled with the introduction of new technologies that enable these regions to be offshore manufacturing processes in China and India.
Up Market Research published a new report titled “Laser induced Plasma Spectrometers Market research report which is segmented by Types (Handheld, Desktop), By Applications (Pharmaceutical, Industrial, Environmental Testing, Biotechnology, Food & Beverage, Others), By Players/Companies Spectro, Shimadzu, Sentech, Hiden Analytical, Nu Instruments, Avantes, Labcompare, Optech Solutions, Beijing Huake Tiancheng, B&W Tek, Firestar Technologies, TSI”.
|Report Attributes||Report Details|
|Report Title||Laser induced Plasma Spectrometers Market Research Report|
|By Type||Handheld, Desktop|
|By Application||Pharmaceutical, Industrial, Environmental Testing, Biotechnology, Food & Beverage, Others|
|By Companies||Spectro, Shimadzu, Sentech, Hiden Analytical, Nu Instruments, Avantes, Labcompare, Optech Solutions, Beijing Huake Tiancheng, B&W Tek, Firestar Technologies, TSI|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||212|
|Number of Tables & Figures||149|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Handheld, Desktop and By Application Pharmaceutical, Industrial, Environmental Testing, Biotechnology, Food & Beverage, Others.
Some of the companies that are profiled in this report are:
Laser induced Plasma Spectrometers Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Laser induced Plasma Spectrometers Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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