Product Code: GVR-4-68040-083-9
Laser-induced Breakdown Spectroscopy Market Growth & Trends
The global laser-induced breakdown spectroscopy market size was valued at USD 434.67 million in 2022, expected to to reach at a CAGR of 6.20% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth is attributed to factors such as the increasing use of LIBS in the pharmaceutical industry, technological advancements & product innovation, and increasing R&D activities.
An increase in technological advancements is one of the major factors contributing to the laser-induced breakdown spectroscopy industry growth. LIBS mostly relies on laser technology, and advancements in lasers have significantly improved the performance and reliability of laser-induced breakdown spectroscopy systems. The development of compact, portable, and more powerful lasers has made these instruments more accessible, affordable, and user-friendly. The portability of devices enables on-site and in-field analysis, eliminating the need for sample transportation and reducing analysis time.
Furthermore, rising awareness and adoption of laser-induced breakdown spectroscopy in emerging economies have become significant driving factors for the laser-induced breakdown spectroscopy industry growth. These regions are experiencing rapid industrialization, infrastructure development, and increasing environmental concerns, creating a demand for advanced analytical tools like LIBS. The affordability and portability of LIBS systems have further accelerated its adoption in emerging economies, creating new opportunities, and expanding its presence globally.
The increasing application of LIBS in biomedical research and development activities has positively affected the laser-induced breakdown spectroscopy industry growth. The utilization of the LIBS technique allows for quantitative analysis of a wide range of samples, enabling the examination of the chemical composition of biological fluids and tissues. This technology proves effective in detecting both endogenous and exogenous metals present in biological tissues. In drug discovery, LIBS can be utilized to identify toxic elements and detect excessive or deficient minerals. Moreover, it finds applications in routine analysis within research laboratories focusing on nanotechnology. These diverse applications are expected to drive the adoption of laser-induced breakdown spectroscopy in R&D activities.
Laser-induced Breakdown Spectroscopy Market Report Highlights
- Advancements in laser technology and instrumentation have made LIBS systems more affordable, compact, and easier to operate
- Based on product, the handheld segment captured the highest share in 2022. These are efficient, cost-effective devices that offer accessibility to a wide range of consumers
- Based on end-user, the pharmaceuticals and biotechnology companies segment dominated the market in 2022. The presence of significant key players working continuously towards the development of advanced technologies contributes to the segment's growth
- North America dominated the laser-induced breakdown spectroscopy industry and accounted for the largest revenue share of 45.2% in 2022 owing to the continuous technological developments, presence of several key players, strong research and academic environment, and well-established regulatory framework
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Research Methodology
- 1.3. Information Procurement
- 1.3.1. Purchased database.
- 1.3.2. GVR's internal database
- 1.3.3. Secondary sources
- 1.3.4. Primary research
- 1.3.5. Details of primary research
- 1.3.5.1. Data for primary Interviews in North America
- 1.3.5.2. Data for primary interviews in Europe
- 1.3.5.3. Data for primary interviews in Asia Pacific
- 1.3.5.4. Data for primary interviews in Latin America
- 1.3.5.5. Data for Primary interviews in MEA
- 1.4. Information or Data Analysis
- 1.4.1. Data analysis models
- 1.5. Market Formulation & Validation
- 1.6. Model Details
- 1.6.1. Commodity flow analysis (Model 1)
- 1.6.2. Approach 1: Commodity flow approach
- 1.6.3. Volume price analysis (Model 2)
- 1.6.4. Approach 2: Volume price analysis
- 1.7. List of Secondary Sources
- 1.8. List of Primary Sources
- 1.9. Objectives
- 1.9.1. Objective 1
- 1.9.2. Objective 2
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Product and End-user Snapshot
- 2.3. Competitive Snapshot
Chapter 3. Laser-Induced Breakdown Spectroscopy Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent market outlook
- 3.1.2. Related/ancillary market outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Market Dynamics
- 3.3.1. Market driver analysis
- 3.3.1.1. Increasing use of LIBS in the pharmaceutical industry
- 3.3.1.2. Technological advancements
- 3.3.1.3. Enhanced regulatory framework.
- 3.3.2. Market restraint analysis
- 3.3.2.1. High Cost
- 3.3.2.2. Lack of Standardization
- 3.4. Laser-Induced Breakdown Spectroscopy Market Analysis Tools
- 3.4.1. Industry Analysis - Porter's
- 3.4.1.1. Supplier power
- 3.4.1.2. Buyer power
- 3.4.1.3. Substitution threat
- 3.4.1.4. Threat of new entrant
- 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL Analysis
- 3.4.2.1. Political landscape
- 3.4.2.2. Technological landscape
- 3.4.2.3. Economic landscape
- 3.4.3. Major Deals & Strategic Alliances Analysis
- 3.4.4. Market Entry Strategies
Chapter 4. Laser-Induced Breakdown Spectroscopy Market: Product Estimates & Trend Analysis
- 4.1. Definitions and Scope
- 4.1.1. Handheld
- 4.1.2. Desktop
- 4.2. Product Market Share, 2022 & 2030
- 4.3. Segment Dashboard
- 4.4. Global Laser-Induced Breakdown Spectroscopy Market by Product Outlook
- 4.5. Market Application & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 4.5.1. Handheld
- 4.5.1.1. Handheld market estimates and forecast 2018 - 2030 (Revenue in USD Million)
- 4.5.2. Desktop
- 4.5.2.1. Desktop market estimates and forecast, 2018 - 2030 (Revenue in USD Million)
Chapter 5. Laser-Induced Breakdown Spectroscopy Market: End-user Estimates & Trend Analysis
- 5.1. Definitions and Scope
- 5.1.1. Academic and Research Institutes
- 5.1.2. Pharmaceuticals and biotechnology companies
- 5.1.3. Others
- 5.2. End-User Market Share, 2022 & 2030
- 5.3. Segment Dashboard
- 5.4. Global Laser-Induced Breakdown Spectroscopy Market by End-user Outlook
- 5.5. Market Application & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 5.5.1. Academic and Research Institutes
- 5.5.1.1. Academic and Research Institutes market estimates and forecast, 2018 - 2030 (Revenue in USD Million)
- 5.5.2. Pharmaceuticals and biotechnology companies
- 5.5.2.1. Pharmaceuticals and biotechnology companies market estimates and forecast, 2018 - 2030 (Revenue in USD Million)
- 5.5.3. Others
- 5.5.3.1. Others market estimates and forecast, 2018 - 2030 (Revenue in USD Million)
Chapter 6. Laser-Induced Breakdown Spectroscopy Market: Regional Estimates & Trend Analysis
- 6.1. Regional market share analysis, 2022 & 2030
- 6.2. Regional Market Dashboard
- 6.3. Global Regional Market Snapshot
- 6.4. Regional Market Share and Leading Players, 2022
- 6.4.1. North America
- 6.4.2. Europe
- 6.4.3. Asia Pacific
- 6.4.4. Latin America
- 6.4.5. Middle East and Africa
- 6.5. Market Application, & Forecasts and Trend Analysis, 2018 to 2030
- 6.6. North America
- 6.6.1. Market estimates and forecast, 2018 - 2030 (Revenue, USD Million)
- 6.6.2. U.S.
- 6.6.2.1. Key country dynamics
- 6.6.2.2. Competitive Scenario
- 6.6.2.3. Regulatory framework
- 6.6.2.4. Reimbursement scenario
- 6.6.2.5. U.S. market estimates and forecasts, 2018 - 2030
- 6.6.3. Canada
- 6.6.3.1. Key country dynamics
- 6.6.3.2. Competitive Scenario
- 6.6.3.3. Regulatory framework
- 6.6.3.4. Reimbursement scenario
- 6.6.3.5. Canada market estimates and forecasts, 2018 - 2030
- 6.7. Europe
- 6.7.1. UK
- 6.7.1.1. Key country dynamics
- 6.7.1.2. Competitive Scenario
- 6.7.1.3. Regulatory framework
- 6.7.1.4. Reimbursement scenario
- 6.7.1.5. UK market estimates and forecasts, 2018 - 2030
- 6.7.2. Germany
- 6.7.2.1. Key country dynamics
- 6.7.2.2. Competitive Scenario
- 6.7.2.3. Regulatory framework
- 6.7.2.4. Reimbursement scenario
- 6.7.2.5. Germany market estimates and forecasts, 2018 - 2030
- 6.7.3. France
- 6.7.3.1. Key country dynamics
- 6.7.3.2. Competitive Scenario
- 6.7.3.3. Regulatory framework
- 6.7.3.4. Reimbursement scenario
- 6.7.3.5. France market estimates and forecasts, 2018 - 2030
- 6.7.4. Italy
- 6.7.4.1. Key country dynamics
- 6.7.4.2. Competitive Scenario
- 6.7.4.3. Regulatory framework
- 6.7.4.4. Reimbursement scenario
- 6.7.4.5. Italy market estimates and forecasts, 2018 - 2030
- 6.7.5. Spain
- 6.7.5.1. Key country dynamics
- 6.7.5.2. Competitive Scenario
- 6.7.5.3. Regulatory framework
- 6.7.5.4. Reimbursement scenario
- 6.7.5.5. Spain market estimates and forecasts, 2018 - 2030
- 6.7.6. Denmark
- 6.7.6.1. Key country dynamics
- 6.7.6.2. Competitive Scenario
- 6.7.6.3. Regulatory framework
- 6.7.6.4. Reimbursement scenario
- 6.7.6.5. Denmark market estimates and forecasts, 2018 - 2030
- 6.7.7. Sweden
- 6.7.7.1. Key country dynamics
- 6.7.7.2. Competitive Scenario
- 6.7.7.3. Regulatory framework
- 6.7.7.4. Reimbursement scenario
- 6.7.7.5. Sweden market estimates and forecasts, 2018 - 2030
- 6.7.8. Norway
- 6.7.8.1. Key country dynamics
- 6.7.8.2. Competitive Scenario
- 6.7.8.3. Regulatory framework
- 6.7.8.4. Reimbursement scenario
- 6.7.8.5. Norway market estimates and forecasts, 2018 - 2030
- 6.8. Asia Pacific
- 6.8.1. Japan
- 6.8.1.1. Key country dynamics
- 6.8.1.2. Competitive Scenario
- 6.8.1.3. Regulatory framework
- 6.8.1.4. Reimbursement scenario
- 6.8.1.5. Japan market estimates and forecasts, 2018 - 2030
- 6.8.2. India
- 6.8.2.1. Key country dynamics
- 6.8.2.2. Competitive Scenario
- 6.8.2.3. Regulatory framework
- 6.8.2.4. Reimbursement scenario
- 6.8.2.5. India market estimates and forecasts, 2018 - 2030
- 6.8.3. China
- 6.8.3.1. Key country dynamics
- 6.8.3.2. Competitive Scenario
- 6.8.3.3. Regulatory framework
- 6.8.3.4. Reimbursement scenario
- 6.8.3.5. China market estimates and forecasts, 2018 - 2030
- 6.8.4. South Korea
- 6.8.4.1. Key country dynamics
- 6.8.4.2. Competitive Scenario
- 6.8.4.3. Regulatory framework
- 6.8.4.4. Reimbursement scenario
- 6.8.4.5. South Korea market estimates and forecasts, 2018 - 2030
- 6.8.5. Australia
- 6.8.5.1. Key country dynamics
- 6.8.5.2. Competitive Scenario
- 6.8.5.3. Regulatory framework
- 6.8.5.4. Reimbursement scenario
- 6.8.5.5. Australia market estimates and forecasts, 2018 - 2030
- 6.8.6. Thailand
- 6.8.6.1. Key country dynamics
- 6.8.6.2. Competitive Scenario
- 6.8.6.3. Regulatory framework
- 6.8.6.4. Reimbursement scenario
- 6.8.6.5. Thailand market estimates and forecasts, 2018 - 2030
- 6.9. Latin America
- 6.9.1. Brazil
- 6.9.1.1. Key country dynamics
- 6.9.1.2. Competitive Scenario
- 6.9.1.3. Regulatory framework
- 6.9.1.4. Reimbursement scenario
- 6.9.1.5. Brazil market estimates and forecasts, 2018 - 2030
- 6.9.2. Mexico
- 6.9.2.1. Key country dynamics
- 6.9.2.2. Competitive Scenario
- 6.9.2.3. Regulatory framework
- 6.9.2.4. Reimbursement scenario
- 6.9.2.5. Mexico market estimates and forecasts, 2018 - 2030
- 6.9.3. Argentina
- 6.9.3.1. Key country dynamics
- 6.9.3.2. Competitive Scenario
- 6.9.3.3. Regulatory framework
- 6.9.3.4. Reimbursement scenario
- 6.9.3.5. Argentina market estimates and forecasts, 2018 - 2030
- 6.10. MEA
- 6.10.1. South Africa
- 6.10.1.1. Key country dynamics
- 6.10.1.2. Competitive Scenario
- 6.10.1.3. Regulatory framework
- 6.10.1.4. Reimbursement scenario
- 6.10.1.5. South Africa market estimates and forecasts, 2018 - 2030
- 6.10.2. Saudi Arabia
- 6.10.2.1. Key country dynamics
- 6.10.2.2. Competitive Scenario
- 6.10.2.3. Regulatory framework
- 6.10.2.4. Reimbursement scenario
- 6.10.2.5. Saudi Arabia market estimates and forecasts, 2018 - 2030
- 6.10.3. UAE
- 6.10.3.1. Key country dynamics
- 6.10.3.2. Competitive Scenario
- 6.10.3.3. Regulatory framework
- 6.10.3.4. Reimbursement scenario
- 6.10.3.5. UAE market estimates and forecasts, 2018 - 2030
- 6.10.4. Kuwait
- 6.10.4.1. Key country dynamics
- 6.10.4.2. Competitive Scenario
- 6.10.4.3. Regulatory framework
- 6.10.4.4. Reimbursement scenario
- 6.10.4.5. Kuwait market estimates and forecasts, 2018 - 2030
Chapter 7. Competitive Landscape
- 7.1. Recent Developments & Impact Analysis, By Key Market Participants
- 7.2. Company/Competition Categorization
- 7.2.1. Innovators
- 7.2.2. Market Leaders
- 7.2.3. Emerging Players
- 7.3. Vendor Landscape
- 7.3.1. Hitachi High-Tech Analytical Science
- 7.3.1.1. Company overview
- 7.3.1.2. Financial performance
- 7.3.1.3. Product benchmarking
- 7.3.1.4. Strategic initiatives
- 7.3.2. SciAps, Inc.
- 7.3.2.1. Company overview
- 7.3.2.2. Financial performance
- 7.3.2.3. Product benchmarking
- 7.3.2.4. Strategic initiatives
- 7.3.3. Thermo Fisher Scientific Inc.
- 7.3.3.1. Company overview
- 7.3.3.2. Financial performance
- 7.3.3.3. Product benchmarking
- 7.3.3.4. Strategic initiatives
- 7.3.4. Rigaku
- 7.3.4.1. Company overview
- 7.3.4.2. Financial performance
- 7.3.4.3. Product benchmarking
- 7.3.4.4. Strategic initiatives
- 7.3.5. Bruker Corporation
- 7.3.5.1. Company overview
- 7.3.5.2. Financial performance
- 7.3.5.3. Product benchmarking
- 7.3.5.4. Strategic initiatives
- 7.3.6. Princeton Instruments
- 7.3.6.1. Company overview
- 7.3.6.2. Financial performance
- 7.3.6.3. Product benchmarking
- 7.3.6.4 Strategic initiatives
- 7.3.7. TSI Incorporated
- 7.3.7.1. Company overview
- 7.3.7.2. Financial performance
- 7.3.7.3. Product benchmarking
- 7.3.7.4. Strategic initiatives
- 7.3.8. B&W Tek
- 7.3.8.1. Company overview
- 7.3.8.2. Financial performance
- 7.3.8.3. Product benchmarking
- 7.3.8.4. Strategic initiatives
- 7.3.9. Avantes
- 7.3.9.1. Company overview
- 7.3.9.2. Financial performance
- 7.3.9.3. Product benchmarking
- 7.3.9.4. Strategic initiatives
- 7.3.10. Applied Spectra
- 7.3.10.1. Company overview
- 7.3.10.2. Financial performance
- 7.3.10.3. Product benchmarking
- 7.3.10.4. Strategic initiatives
- 7.3.11. SECOPTA analytics GmbH
- 7.3.11.1. Company overview
- 7.3.11.2. Financial performance
- 7.3.11.3. Product benchmarking
- 7.3.11.4. Strategic initiatives