Portable Spectrometer Market To Touch USD$ 4,181.38 Million By 2031

CIOTechOutlook Team | Thursday, 12 October 2023, 09:19 IST

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The Portable Spectrometer Market is expected to expand by USD 2,059.41 million in 2023, and will be valued over USD 4,181.38 million by 2031, increasing at a CAGR of 9.3%.
 
Portable spectrometers are instruments designed for measuring wavelengths of light over a broad range of electromagnetic spectrum for spectroscopic analysis of sample materials. The benefits of portable spectrometers including ease of use, higher mobility, reliability, high testing speed, accuracy, and sensitivity makes it ideal for deployment in food & beverage, pharmaceutical, agriculture, chemical, metallurgy, and other sectors, as per Consegic Business 
 
One of the primary reasons driving market expansion is the rising use of portable spectrometers in the pharmaceutical industry. Furthermore, increased medical medication demand, development of pharmaceutical manufacturing facilities, and expanding pharmaceutical output are major drivers driving the usage of portable spectrometers. 
 
According to the European Federation of Pharmaceutical Industries and Associations, total pharmaceutical output in Germany and France in 2020 was estimated to be at USD 39,734 million and USD 28,935 million, respectively. As a result, the increase in pharmaceutical production is increasing the adoption of portable spectrometers for applications such as examining drug identity and purity, drug crystalline structures, interactions between excipient and active ingredients, and others, thereby driving market growth.
 
Furthermore, the growing use of portable spectrometers in the food and beverage industries is expected to create new possibilities for the portable spectrometer market. Portable spectrometers are used in the food and beverage sector to analyze food and beverage items for quality and safety.
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