Portable Analytical Instrument Market Value will increase by USD 2.52 billion During 2021-2025

The portable analytical instrument market share will post an incremental growth of USD 2.52 billion, progressing at a CAGR of  5.70% during the forecast period. The market growth is driven by the rise in demand for generic drugs. However, design challenges in the miniaturization of handheld devices will challenge the market growth. Technavio's research report segments the market into major segments and the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.

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Portable Analytical Instrument Market: Market Segments and Growth Forecasts

The portable analytical instrument market report will provide insights into each segment's current market share and growth projections for the next five years.

• The portable analytical instrument market is segmented by Technology (spectroscopic analysis, elemental analysis, and others), Product (spectrometers, gas and TOC analyzers, thermal analyzers, and others), End-user (pharmaceutical and biotechnology companies, food and beverage companies, environmental testing organizations, and others), and Geography (APAC, North America, Europe, South America, and MEA).
• Each market segment is analyzed for past performance leading to future growth projections based on the current market scenario.
• Based on the technology segmentation, the portable analytical instrument market growth in the spectroscopic analysis segment will be significant during the forecast period.
• The APAC region emerged as the leading segment in recent years. 34% of the market growth will originate from APAC during the forecast period. China and Japan are the key markets in APAC.
• Factors such as ​​​​​​the increasing mergers and acquisitions, and new investments will drive the portable analytical instrument market growth in APAC over the forecast period.
• The report provides an accurate prediction of the contribution of all the geographic segments to the growth of the portable analytical instrument market size.

Portable Analytical Instrument Market: Trends, Drivers, Challenges

• A significant factor in driving the growth of the portable analytical instrument market will be the rise in demand for generic drugs.
• The increasing prevalence of narcotics-related problems is another factor that will be instrumental in driving the market growth during the forecast period.
• Concern about food safety is one of the major portable analytical instrument market trends that will positively influence the market growth.
• Design challenges in the miniaturization of handheld devices are a challenge that needs to be overcome to persist on the path to growth and recovery from the impact of the pandemic.

Portable Analytical Instrument Market: Vendor Analysis

• The market is fragmented due to the presence of several players.
• The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
• Agilent Technologies Inc., Bruker Corp., Danaher Corp., F. Hoffmann-La Roche Ltd., HORIBA Ltd., JASCO International Co. Ltd., Metrohm AG, Shimadzu Corp., Teledyne Technologies Inc., Thermo Fisher Scientific Inc. are some of the major portable analytical instrument market vendors.

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The report provides insights into the following FAQs:

1. What is the market CAGR?
   The market is accelerating at a CAGR of 5.70%.
    
2. What is the incremental growth of the market?
   The market is expected to grow up to USD 2.52 billion.
    
3. What is a key factor driving this market?
   The rise in demand for generic drugs will drive market growth over the forecast period.
    
4. What are the key regions covered in this market research report?
   APAC, North America, Europe, South America, and MEA are the key regions featured in this research report.
    
5. Which is the leading geographic region for this market?
   34% growth will originate from APAC.
    
6. Who are the leading market vendors?
   The leading vendors in this market are Agilent Technologies Inc., Bruker Corp., Danaher Corp., F. Hoffmann-La Roche Ltd., HORIBA Ltd., JASCO International Co. Ltd., Metrohm AG, Shimadzu Corp., Teledyne Technologies Inc., and Thermo Fisher Scientific Inc.
    
7. What are the market segments covered in this report?
   The market is segmented by Technology (spectroscopic analysis, elemental analysis, and others), Product (spectrometers, gas and TOC analyzers, thermal analyzers, and others), End-user (pharmaceutical and biotechnology companies, food and beverage companies, environmental testing organizations, and others), and Geography (APAC, North America, Europe, South America, and MEA).