Mobile and Portable Spectrometers Market Size

Mobile and Portable Spectrometers Market size was valued at USD 2.2 Billion in 2023 and is projected to cross USD 7.5 Billion by the end of 2036, registering more than 9.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of mobile and portable spectrometers is estimated at USD 2.4 Billion. The growth of the market can be attributed to the surge in mass spectrometry analysis by medical professionals, followed by the growing healthcare spending across the globe which is also expected to add to the market growth over the forecast period. For instance, global healthcare spending was expected to reach more than USD 10 trillion by the end of 2022. In addition to this, the rising utilization of these spectrometers in food contamination detection, and carbon dating applications are also projected to fuel the growth of the market over the projected time frame.

In addition to these, factors that are believed to fuel the market growth of mobile and portable spectrometers include the rise in the adoption of security and analytical instruments. These devices are perfect for applications such as field analysis of samples, identifying raw materials, and forensic analysis. These versatile instruments offer analysis capabilities similar to benchtop models. With the recent advancements in smartphone devices as well as smartphone spectroscopy, the demand for mobile and portable spectrometers is on the rise amongst smartphone users, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global mobile and portable spectrometers market during the forecast period. For instance, more than 72% of the United States population used smartphones in 2020.