The global spectrophotometer market to grow at a CAGR of 11.97% during the period 2017-2021.
Global Spectrophotometer Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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.
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.
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).
Increasing investments and adoption of spectrophotometer in environmental monitoring Increased consolidation Growing use of smartphone spectrophotometer
Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be? What are the key market trends? What is driving this market? What are the challenges to market growth? Who are the key vendors in