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Market Overview of Global Surface Enhanced Raman Spectroscopy (SERS) market:
According to our latest research, the global Surface Enhanced Raman Spectroscopy (SERS) market looks promising in the next 5 years. As of 2022, the global Surface Enhanced Raman Spectroscopy (SERS) market was estimated at USD 177.95 million, and it's anticipated to reach USD 280.51 million in 2028, with a CAGR of 7.88% during the forecast years.
Surface Enhanced Raman Spectroscopy (SERS) is a kind of surface sensitive technology that can enhance Raman scattering through molecules adsorbed on rough metal surfaces or nanostructures such as plasma magnetic silica nanotubes. Surface enhanced Raman spectroscopy (SERS) can detect individual molecules.
Marketing channel sales will be affected differently
The distribution channel segment is divided into offline and online, the offline segment is dominating the market currently, and due to emergence of COVID-19, the online market witnessed a significant growth in 2020. The COVID-19 Outbreak has led to a decline in offline passenger flow, and the advantages of e-commerce companies have become prominent. During the epidemic prevention and control period, SERS enterprises did not carry out internet marketing and promotion for their business, so they encountered great resistance in undertaking business. For enterprises that fail to make good use of network promotion means, there is almost no market development during the epidemic period, and the original offline market development plan is disrupted, and the epidemic will face fierce market homogenization competition, which is expected to have a great impact on the company's business throughout the year.
Upstream and downstream interactions will lead to disruption of business
The epidemic will have a short-term impact on SERS industry, but it is relatively limited. Due to the impact of the epidemic, the production of raw materials and equipment procurement and transportation supply are difficult to be in place, and upstream enterprises affect the work schedule of downstream enterprises. Equipment manufacturing and product manufacturing enterprises in SERS industry are affected to different degrees, and the production and delivery work may be delayed to some extent. Meanwhile, if it fails to meet the customer's delivery time requirements according to the contract, it may lead to the customer looking for another enterprise and lose business.
Apart from this, the COVID-19 outbreak has resulted in the closing down of several manufacturing facilities across the globe. The pandemic caused huge revenue losses in end-use industry. The coronavirus lockdown put a brake on the production of several key raw materials in the global market, which, in turn, spiked the prices and lowered the demand for the product. The strict lockdown mandates imposed by governments have restricted cross-border trade between countries, another factor proving to be detrimental for the SERS market share. In addition, SERS manufacturers are drawing up plans for the international market as a new supply link in the global SERS industry, as companies look to re-engineer supply chains in the aftermath of COVID-19. Also, it is expected that the product demand in end-user sectors could pick up following the uplift of the lockdown in numerous countries.
Strength
Surface enhanced Raman spectroscopy (SERS) has attracted significant attention in recent years due to rising interest in trace level detection in the field for applications such as environmental safety, food safety, and homeland security. The development of SERS technology is being driven by a need to overcome the technical barrier of the lower detection limit with Raman spectroscopy as well as the need for trace level detection of explosive compounds, chemical residuals, and biomedical diagnostics. SERS is an emerging technique with superior capacity for the rapid and sensitive analysis of chemical signatures. Great interest has been shown for the analysis of food additives and chemical contaminants using SERS. Current studies have demonstrated that when using this technology, a more simplified sample preparation and analysis procedure is needed which lead to a faster and more convenient analysis compared with conventional chromatographic procedures. Advanced by nanotechnology, more and more sensitive and reliable SERS substrates have been fabricated, with efforts toward commercialization. Better separation of target chemicals from food matrices can be achieved through either integration with separation techniques, or functionalization of the SERS substrates with selective capture agents. Economic and on-site analysis can be potentially realized using a portable device. In conclusion, SERS promises to be a versatile and powerful analytical tool.
Weakness
Despite rapid developments in technology, there are many studies that should be done before SERS could be used as a daily tool for the industry. While benchtop microscopic Raman systems satisfy the need for precise laser focusing on the surface, they are not portable. This hinders SERS developers from transferring their technologies to environments like field testing, production lines or diagnostic locations where SERS analysis needs to be carried out. The increased cost of a benchtop micro-Raman restricts the adoption of SERS for practical applications.
Moreover, currently, there are 2 hurdles associated with the use of a handheld Raman spectrometer for SERS detection in real practice. First, the handheld Raman spectrometer was primarily designed for bulk material identification due to the inherently weak Raman signals. The sensitivity of a handheld Raman spectrometer responding to SERS scattering needs to be studied. Photobleaching may occur due to the high laser power generated from a handheld device. Second, the handheld Raman spectrometer normally gives a PASS/FAIL result via spectral matching. How to build a semiquantitative method for a layman's "answer box" on the spectrometer directly (without showing the spectra) is a challenge.
Region Overview:
In 2021, the share of the Surface Enhanced Raman Spectroscopy (SERS) market in North America stood at 35.68%.
Company Overview:
HORIBA, Ltd. is one of the major players operating in the Surface Enhanced Raman Spectroscopy (SERS) market, holding a share of 21.4% in 2022.
HORIBA, Ltd.
HORIBA Scientific is the new global team created to better meet customers' present and future needs by integrating the scientific market expertise and resources of HORIBA. HORIBA Scientific offerings encompass elemental analysis, fluorescence, forensics, GDS, ICP, particle characterization, Raman, spectral ellipsometry, sulfur-in-oil, water quality, and XRF. Prominent absorbed brands include Jobin Yvon, Glen Spectra, IBH, SPEX, Instruments S.A, ISA, Dilor, Sofie, SLM, and Beta Scientific.
Thermo Fisher Scientific
Thermo Fisher Scientific is an American supplier of scientific instrumentation, reagents and consumables, and software services. Based in Waltham, Massachusetts, Thermo Fisher was formed through the merger of Thermo Electron and Fisher Scientific in 2006. Thermo Fisher has acquired other reagent, consumable, instrumentation, and service providers, including: Life Technologies Corporation (2013), Alfa Aesar (2015), Affymetrix (2016), FEI Company (2016), and BD Advanced Bioprocessing (2018).
Segmentation Overview:
By type, Portable Type segment accounted for the largest share of market in 2021.
Application Overview:
The market's largest segment by application is the segment Biology and Medicine, with a market share of 44.47% in 2021.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Surface Enhanced Raman Spectroscopy (SERS) market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Surface Enhanced Raman Spectroscopy (SERS) Market Report:
Market Size Estimates: Surface Enhanced Raman Spectroscopy (SERS) market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Surface Enhanced Raman Spectroscopy (SERS) market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Surface Enhanced Raman Spectroscopy (SERS) market
Segment Market Analysis: Surface Enhanced Raman Spectroscopy (SERS) market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Surface Enhanced Raman Spectroscopy (SERS) market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Surface Enhanced Raman Spectroscopy (SERS) Market: Revenue and sales volume of major countries in each region
Surface Enhanced Raman Spectroscopy (SERS) Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Surface Enhanced Raman Spectroscopy (SERS) market in major regions.
Surface Enhanced Raman Spectroscopy (SERS) Industry Value Chain: Surface Enhanced Raman Spectroscopy (SERS) market raw materials & suppliers, manufacturing process, distributors, downstream customers
Surface Enhanced Raman Spectroscopy (SERS) Industry News, Policies & Regulations
Key players in the global Surface Enhanced Raman Spectroscopy (SERS) market are covered in Chapter 12:
JASCO
Real Time Analyzers, Inc
Sciaps
Ocean Insight
Thermo Fisher Scientific
WITec
PerkinElmer
HORIBA, Ltd.
Metrohm
Renishaw
In Chapter 2 and Chapter 15.1, based on types, the Surface Enhanced Raman Spectroscopy (SERS) market from 2018 to 2028 is primarily split into:
Desktop Type
Portable Type
In Chapter 3 and Chapter 15.2, based on applications, the Surface Enhanced Raman Spectroscopy (SERS) market from 2018 to 2028 covers:
Biology and Medicine
Chemical Industry
Food Industry
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Surface Enhanced Raman Spectroscopy (SERS) market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028