USD 20.1 billion
Fluorescence Spectroscopy Market Size, Share, Growth Analysis, By Spectrometer Type(Benchtop Fluorescence Spectrometers, Portable Fluorescence Spectrometers, Others), By Application(Drug discovery & development, Environmental & Food safety testing, Material Sciences, Biology & Life sciences), By End User(Pharmaceuticals & Biotechnology, Academic & Research institutes, Medical and Clinical Laboratories, Environmental & Agriculture testing), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG35A2199 |
Region:
Global |
Published Date: July, 2024
Pages:
242
|Tables:
66
|Figures:
75
Fluorescence Spectroscopy Market Insights
Fluorescence Spectroscopy Market size was valued at USD 21.67 Billion in 2023 and is poised to grow from USD 23.36 Billion in 2024 to USD 42.6 Billion by 2032, growing at a CAGR of 7.8% during the forecast period (2025-2032).
Fluorescence spectroscopy is widely used in various fields, including biotechnology, pharmaceuticals, environmental science, and materials science. It can be used to measure the concentration of fluorescent molecules, study the interaction between molecules, and analyze the properties of biological molecules such as proteins and DNA. It is a powerful tool in research and development and has applications in a wide range of industries.
The global market is expected to grow significantly over the next few years, driven by a range of factors, including the increasing use of fluorescence spectroscopy in various fields such as life sciences, pharmaceuticals, and materials science. Geographically, North America is expected to account for the largest share of the market, followed by Europe and Asia Pacific. The growth in North America is driven by the presence of a large number of biotechnology and pharmaceutical companies, while the growth in Asia Pacific is driven by increasing research and development activities and growing demand for advanced medical technologies.
The key market companies are investing in research and development to come up with innovative products and technologies to meet the changing market demands. They are also expanding their product portfolios through strategic partnerships and collaborations with other companies in the market. Overall, the global fluorescence spectroscopy market is expected to continue to grow, driven by ongoing innovation in technology, increasing research and development activities, and growing demand for personalized medicine, pharmaceuticals, and materials science.
US Fluorescence Spectroscopy Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Drug discovery and development
Fastest Growth
Drug discovery and development
Growth Rate
7.8% CAGR
Global Fluorescence Spectroscopy Market ($ Bn)
Country Share for North America Region (%)
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Fluorescence Spectroscopy Market Segmental Analysis
Global Fluorescence Spectroscopy Market is segmented by spectrometer type, application, end user, and region. Based on spectrometer type, the market can be segmented into Benchtop Fluorescence Spectrometers, Portable Fluorescence Spectrometers, and Others. Based on application, the market is segmented into Drug discovery & development, Environmental & Food safety testing, Material Sciences, Biology & Life sciences, and Others. Based on end user, the market is segmented into Pharmaceuticals & Biotechnology, Academic & Research institutes, Medical and Clinical Laboratories, Environmental & Agriculture testing, and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Fluorescence Spectroscopy Market Analysis by Application
The drug discovery and development segment is the largest application segment of the fluorescence spectroscopy market. It is used for drug screening, target identification, pharmacokinetic studies, and other applications in the pharmaceutical and biotechnology industries. The increasing demand for new drugs and the growing importance of personalized medicine is expected to drive the growth of this market segment.
The environmental and food safety testing segment is an important application segment of the fluorescence spectroscopy market. It is used for detecting contaminants, pollutants, and other substances in environmental and food samples. The increasing focus on environmental and food safety regulations and the growing importance of traceability and authenticity in the food industry is expected to drive the growth of this market segment.
Fluorescence Spectroscopy Market Analysis by End-User
The pharmaceuticals and Biotechnology segment is expected to account for the largest share of the market. Fluorescence spectroscopy is widely used in drug discovery and development, as well as in studying biological molecules and their interactions. The pharmaceuticals and biotechnology segment is expected to grow rapidly due to the increasing demand for personalized medicine and the development of new therapies and drugs.
The academic and research institutes segment includes academic and research institutions, such as universities and research centers. Fluorescence spectroscopy is widely used in academic and research settings to study the properties of biological molecules and materials. The academic and research institutes segment is expected to grow due to the increasing focus on research and development in various fields.
Global Fluorescence Spectroscopy Market By Application
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Fluorescence Spectroscopy Market Regional Insights
North America is the largest market for fluorescence spectroscopy, driven by the presence of several major players in the region, high level of research and development activities, and increasing demand for advanced analytical techniques in various industries. The United States is the largest contributor to the North American market, followed by Canada.
Europe is the second-largest market for fluorescence spectroscopy, driven by the increasing demand for advanced analytical techniques in drug discovery and environmental testing, and the presence of several major players in the region. The United Kingdom, Germany, and France are the largest contributors to the European market.
The Asia-Pacific region is expected to be the fastest-growing market, driven by the increasing adoption of advanced analytical techniques in research and development, the growing number of research institutions, and the increasing demand for food safety and environmental testing in the region. China, Japan, and India are the largest contributors to the Asia-Pacific market.
Latin America is a growing market, driven by the increasing demand for analytical techniques in the region's pharmaceutical, biotechnology, and food industries. Brazil and Mexico are the largest contributors to the Latin American market.
The Middle East and Africa are emerging markets for fluorescence spectroscopy, driven by the increasing demand for analytical techniques in the region's healthcare and food industries. South Africa and the United Arab Emirates are the largest contributors to the Middle East and Africa markets.
Global Fluorescence Spectroscopy Market By Region
- Largest
- Fastest
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Fluorescence Spectroscopy Market Dynamics
Fluorescence Spectroscopy Market Drivers
Increasing research and development activities
- Fluorescence spectroscopy is widely used in various research fields, including biotechnology, pharmaceuticals, and environmental science. As the demand for new and innovative products in these industries grows, the demand for fluorescence spectroscopy instruments and solutions is also expected to increase.
Growing focus on personalized medicine
- Fluorescence spectroscopy is a key tool in personalized medicine, which aims to tailor treatments to individual patients based on their unique genetic makeup. As the demand for personalized medicine grows, the demand for fluorescence spectroscopy instruments and solutions is also expected to increase.
Increasing demand for food safety testing
- Fluorescence spectroscopy is used in food safety testing to detect contaminants and ensure the safety of food products. As the demand for safe and high-quality food products grows, the demand for fluorescence spectroscopy instruments and solutions is also expected to increase.
Growing demand for environmental monitoring
- Fluorescence spectroscopy is widely used in environmental monitoring to detect pollutants and monitor water quality. As the demand for effective environmental monitoring solutions grows, the demand for fluorescence spectroscopy instruments and solutions is also expected to increase.
Fluorescence Spectroscopy Market Restraints
High cost of equipment and maintenance
- The high cost of fluorescence spectroscopy equipment and maintenance can be a significant barrier for small and medium-sized laboratories and research institutions, limiting the market's growth potential.
Limited sensitivity and specificity of fluorescence spectroscopy
- Although fluorescence spectroscopy is a highly sensitive technique, it may not be suitable for some applications that require higher levels of sensitivity and specificity, limiting its potential use in certain areas.
Limited availability of skilled professionals
- Fluorescence spectroscopy requires highly trained professionals who are familiar with the equipment and techniques involved. The limited availability of skilled professionals in this field could be a significant restraint on the market's growth.
Regulatory hurdles and compliance requirements
- The use of fluorescence spectroscopy in some applications, such as clinical diagnostics and drug discovery, is subject to stringent regulatory requirements, which can be time-consuming and costly to comply with, limiting the market's potential.
Competition from alternative technologies
- Although fluorescence spectroscopy is a widely used technique, it faces competition from other analytical technologies such as mass spectrometry and NMR spectroscopy. The increasing availability and decreasing cost of these alternative technologies could impact the market's growth potential.
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Fluorescence Spectroscopy Market Competitive Landscape
The global fluorescence spectroscopy market is highly competitive and is dominated by a few major players. Key market companies are focused on innovation and expanding their product portfolios through strategic partnerships and collaborations. Overall, the competitive landscape of the global fluorescence spectroscopy market is expected to remain highly competitive, with ongoing innovation and product development driving growth and market share for key players.
Fluorescence Spectroscopy Market Top Player’s Company Profiles
- HORIBA, Ltd.
- Thermo Fisher Scientific Inc.
- PerkinElmer, Inc.
- Bruker Corporation
- Agilent Technologies, Inc.
- Shimadzu Corporation
- JASCO Corporation
- Edinburgh Instruments Ltd.
- Hitachi High-Technologies Corporation
- PTI Photon Technology International Inc.
- Hamamatsu Photonics K.K.
- Stellarnet, Inc.
- HORI GLASS CORPORATION
- Foss A/S
- Ocean Optics, Inc.
- PicoQuant GmbH
- KNAUER Wissenschaftliche Geräte GmbH
- Jenway Limited
- Bibby Scientific Limited
- Photon Technology Co., Ltd.
Fluorescence Spectroscopy Market Recent Developments
- In September 2021, HORIBA Scientific, a leading manufacturer of fluorescence spectroscopy instruments, announced the launch of a new product called the Fluorolog-QM 2020. The product is a modular spectrofluorometer that allows researchers to customize their experimental setups according to their specific research needs.
- In June 2021, Agilent Technologies, a major player in the fluorescence spectroscopy market, announced the launch of a new product called the Agilent Cary 3500 UV-Vis Spectrophotometer. The product is designed to provide high-sensitivity analysis of a wide range of samples, including biological and environmental samples.
- In April 2021, Thermo Fisher Scientific, a leading manufacturer of scientific instruments, announced the launch of a new product called the Thermo Scientific Vanquish Core HPLC System. The system is designed to provide high-performance liquid chromatography (HPLC) analysis, which can be coupled with fluorescence spectroscopy to provide sensitive and selective detection of analytes.
- In March 2021, Bruker Corporation, a leading manufacturer of scientific instruments, announced the launch of a new product called the NanoRacer High-Speed Confocal Microscope. The product is designed to provide high-speed imaging of biological samples and can be coupled with fluorescence spectroscopy to provide a detailed analysis of molecular interactions in living cells.
- In January 2021, Shimadzu Corporation, a major player in the fluorescence spectroscopy market, announced the launch of a new product called the iMScope TRIO Imaging Mass Microscope. The product is designed to provide high-resolution imaging of biological samples and can be coupled with fluorescence spectroscopy to provide a detailed analysis of molecular interactions in living cells.
Fluorescence Spectroscopy Key Market Trends
- Increasing demand for fluorescence spectroscopy in the healthcare industry: The healthcare industry is the largest end-user of fluorescence spectroscopy. It is widely used in various healthcare applications such as drug discovery, clinical diagnostics, and medical research. The increasing prevalence of chronic diseases and the need for more accurate diagnostic methods are expected to drive the demand in the healthcare industry.
- Technological advancements in fluorescence spectroscopy: The development of new and advanced technologies is expected to drive market growth. For instance, the development of time-resolved fluorescence spectroscopy, which allows the measurement of the fluorescence lifetime, has improved the sensitivity and accuracy of this.
- Increasing use of fluorescence spectroscopy in the food and beverage industry: Fluorescence spectroscopy is increasingly being used in the food and beverage industry for quality control and safety testing. It is a non-destructive and non-invasive method that can detect the presence of contaminants in food and beverages. The increasing demand for safe and high-quality food and beverages is expected to drive the demand in the industry.
Fluorescence Spectroscopy Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our fluorescence spectroscopy market analysis, the development of new fluorescence labels, sensors, and other accessories is expected to drive the growth of the market in the coming years. The Asia-Pacific region is expected to be the fastest-growing market for fluorescence spectroscopy, driven by the increasing adoption of advanced analytical techniques in research and development, the growing number of research institutions, and the increasing demand for food safety and environmental testing in the region. The COVID-19 pandemic has had a mixed impact on the market. While it has increased the demand for some applications, such as drug discovery, it has also led to the temporary shutdown of research institutions and laboratories, leading to a decline in demand for some products and services. The market is expected to recover as the pandemic is brought under control and research activities resume. Overall, the global market is expected to continue to grow in the coming years, driven by the increasing demand for advanced analytical techniques in various industries and the development of innovative products and technologies.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 20.1 billion |
| Market size value in 2031 | USD 39.52 billion |
| Growth Rate | 7.8% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Fluorescence Spectroscopy Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Fluorescence Spectroscopy Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Fluorescence Spectroscopy Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Fluorescence Spectroscopy Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Fluorescence Spectroscopy Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Fluorescence Spectroscopy Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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