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Multi-Cuvette Spectrophotometer has extensive application in various segments ranging from forensics, microbiology, medical health, biochemistry, to physics. These instruments are primarily made use of for the analysis of bacterial growth. Similar is the case about it when it comes about diagnosis of patients as per the level of uric acid there in the urine. Their significant usage in life science sectors and companies associated with the same is said to be the reason behind its incredible growth rate.
Best part about the global Multi-Cuvette Spectrophotometer market is that it is steady in all segments, be it about portable or bench top. To be specific, the portable segment is forecasted to keep up noteworthy growth rate throughout the forecasted period. It is expected to grow at CAGR of 11.07% during the forecasted period in between 2019 and 2025. Among others, the greater usage of it in the domain of ecological testing is also said to be the prime factor behind globally steady growth. Similarly, the growing usage for academic studies is also a key factor playing a key role in growth of the market.
The geographic analysis of the multi-cuvette spectrophotometer market has been conducted for North America, Europe, Asia-Pacific, the Middle East & Africa, and Central & South America. North America dominated the global Multi-Cuvette Spectrophotometer Market with a value of USD 124.36 million in 2018; it is estimated to grow at a CAGR of 5.7% during the forecast period. However, the Asia-Pacific region is estimated to witness the fastest growth at a CAGR of 9.99% during the forecast period 2020–2025. In North America, the US accounted for the largest market share in 2018. However, Canada is expected to register the highest CAGR owing to the high demand for multi-cuvette spectrophotometers by the pharmaceuticals and food & beverage industries. In Europe, Germany accounted for the largest market share in 2018. However, the UK is expected to register the highest CAGR due to the growing number of clinical trials, and the presence of a large number of research institutions and academic organizations in the region. In Asia-Pacific, Japan accounted for the largest market share in 2018 and the market in India is expected to register the highest CAGR due to the rising prevalence of chronic and acute diseases such as HIV, cancer, and diabetes, along with a large number of research organizations, and development of new infrastructure to support the healthcare industry. In the Middle East & Africa market, the increasing demand for spectrophotometers in the quantitative analysis of the soil used in agriculture to balance nitrogen and phosphorus levels in fertilizers is expected to drive the market growth.
In Central & South America, the increasing need for spectrophotometers for analyzing soil, water, and hazardous waste to control environmental pollution is expected to drive the market growth.
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The Key Players of the Global Multi-Cuvette Spectrophotometer Market are Hach Company (US), Hitachi High-Technologies Corp. (Japan), K Lab Co., Ltd. (South Korea), Giorgio Bormac Ltd (Italy), APEL Co. Ltd. (Japan), Agilent Technologies, Inc. ( US), Wincom Company Ltd. ( China), Mettler-Toledo International, Inc. (US), Thermo Fisher Scientific, Inc. (US), Panomex, Inc. (India), PerkinElmer, Inc. ( US), Konica Minolta, Inc. (Japan), Cole Parmer Ltd (UK), PCE Holdings GmbH (Germany), Shimadzu Corporation (Japan), BioNavis Ltd ( Finland), Nicoya Lifesciences, Inc. (Canada), Horiba, Ltd (Japan), Biosensing Instrument (US), NanoSPR Devices (US), Bruker Corporation (US), Affinité Instruments (Canada), Creoptix AG (Switzerland), General Electric Company (US), Reichert, Inc.(US), and Molecular Devices LLC. (US), among others.
The global multi-cuvette spectrophotometer market has been segmented based on type, application, and region. Based on the type, the market has been segmented into portable and benchtop. by application, the market has been segmented into life sciences, molecular diagnostics, analytical chemistry, food & agriculture, and forensic science.
Multi-Cuvette Spectrophotometer Market – Regional Analysis
The Global Multi-Cuvette Spectrophotometer Market, by region, has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and Central & South America. North America accounted for the largest market value of USD 124.36 million in 2019; the market is expected to register a CAGR of 5.71% during the forecast period. The Asia-Pacific is expected to be the fastest-growing market, registering a CAGR of 9.99% during the forecast period.
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