Laser-induced Breakdown Spectroscopy (LIBS) Market Size - By Product (Handheld, Desktop), By End-use (Academic and Research Institutes, Pharmaceuticals and Biotechnology Companies) – Global Forecast, 2023-2032

Laser-induced Breakdown Spectroscopy Market Size

Laser-Induced Breakdown Spectroscopy Market size was valued at USD 261 million in 2022 and is estimated to account for USD 475 million by 2032. Laser-induced breakdown spectroscopy (LIBS) is an analytical instrumentation that uses a high-intensity laser pulse to generate plasma on the surface of a sample.
 

LIBS analyzes the emitted light by dispersing it into its constituent wavelengths using a spectrometer or other optical components. This dispersed light is then detected and measured to identify the elements present in the sample and determine their relative abundances. The growing need for quick and accurate analysis in various industries, such as metals and mining, environmental monitoring, and pharmaceuticals.
 

Incremental advancements in laser technology such as higher pulse energies, shorter pulse durations, and improved beam quality to enhance the performance and sensitivity of LIBS systems will accelerate industry progression. These advancements allow more precise and accurate elemental analysis and improved performance that attracts more industries and research institutions to adopt LIBS technology.
 

COVID-19 Impact

The COVID-19 pandemic had a negative impact on the entire medical imaging industry. Disruptions in global supply chains due to lockdown, travel restrictions, and temporary closures of manufacturing facilities led to delay in the production, delivery, and installation of LIBS systems. Also, the pandemic forced many research institutions and laboratories to temporarily halt, or slowdown research and development activities affecting the introduction of new LIBS technologies, innovations, and system applications during the pandemic resulting in delay of the launch of new products or updates in the LIBS market. Furthermore, several industries especially those directly affected by the pandemic faced financial challenges and reduced capital expenditure during the crisis. This led to a cautious approach in purchasing new equipment, including LIBS systems.
 

Laser-induced Breakdown Spectroscopy Market Trends

The increasing adoption of LIBS technology in a wide range of industries is anticipated to expand the industry revenue share and potential. As LIBS finds new applications in fields such as pharmaceuticals, agriculture, aerospace, energy, and environmental monitoring, the demand for LIBS systems will propel substantially. The expanding applications of LIBS in various industries create opportunities for research and development for the development of new LIBS methodologies, techniques, and algorithms tailored to specific applications.
 

Thengoingg research drives innovation, improving the performance and capabilities of LIBS systems. Further, the demand for LIBS in different industries often requires customization of the technology to suit specific requirements. This leads to the development of industry-specific LIBS systems, accessories, and software solutions.
 

Laser-induced Breakdown Spectroscopy Market Analysis

The laser-induced breakdown spectroscopy market by product is segregated into handheld and desktop. The handheld segment garnered more than USD 150 million in revenue size in the year 2022. Handheld LIBS devices offer the advantage of mobility, allowing users to bring the analysis directly to the sample without the need for sample transportation or laboratory-based analysis.
 

Moreover, handheld LIBS devices are designed to be user-friendly and require minimal training. They offer non-destructive analysis, allowing samples to remain intact after testing. Furthermore, the handheld LIBS market is witnessing expanding applications across different industries. These devices are being utilized in several applications including elemental analysis of metals, quality control in manufacturing, environmental monitoring, agricultural soil analysis, and identification of hazardous substances.
 

Based on end-use, the LIBS market is subdivided into pharmaceuticals and biotechnology companies, academic and research institutes, and others. The pharmaceuticals and biotechnology companies segment held the largest industry share accounting for nearly 45% in 2022. The pharmaceuticals and biotechnology industries prioritize stringent quality control measures to ensure the safety and efficacy of their products. As, LIBS technology provides a fast and non-destructive method for elemental analysis, enabling real-time quality control during manufacturing processes.
 

Additionally, LIBS offers the non-invasive analysis of biological samples, making it suitable for pharmaceutical and biotech companies involved in biological research and diagnostics. As, LIBS can analyze biological tissues, cells, and fluids, providing information about elemental composition and potential biomarkers will boost the product demand for drug metabolism studies, pharmacokinetics, and bioimaging.
 

U.S. laser-induced breakdown spectroscopy market accounted for USD 108 million in revenue size in 2022. Increasing demand for LIBS technology in sectors such as pharmaceutical and biotech, defense, homeland security, and law enforcement owing to several applications such as the detection of hazardous substances, identifying unknown materials, and monitoring chemical compositions. Further, the strong presence of industry players and high investment in research and development activities to develop advanced LIBS devices with the integration of IoT and cloud technologies that allow remote data access, centralized data management, and real-time analysis.
 

Laser-induced Breakdown Spectroscopy Market Share

Some of the eminent industry participants operating in the laser-induced breakdown spectroscopy market include

• Thermo Fisher Scientific Inc.
• B&W Tek
• Hitachi High-Tech Analytical Science
• Applied Spectra
• SciAps, Inc.
• Princeton Instruments
• Rigaku
• TSI Incorporated
• Avantes
• Bruker Corporation
• SECOPTA analytics GmbH 
   

LIBS Industry News:

• In May 2023, Thermo Fisher Scientific Inc. launched Niton Apollo handheld LIBS analyzer, a user-friendly portable LIBS device including optical emission spectroscopy technology designed for precise mobile carbon analysis and calibration for several metals and alloys with enhanced accuracy and safety. Such product launches expand the company’s product portfolio and gain a competitive edge in the LIBS market.
   
• In November 2022, Ocean Insights acquired laser-induced breakdown spectroscopy (LIBS) technology from Rigaku. These had broadened the company’s process spectroscopy product offerings in the significant market.
   

LIBS market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:

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By Product (USD Million & Units)

• Handheld
• Desktop

By End-use (USD Million)

• Academic and Research Institutes
• Pharmaceuticals and Biotechnology Companies
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Switzerland
  • The Netherlands
  • Denmark
  • Poland
  • Sweden
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • New Zealand
  • Thailand
  • Vietnam
  • Indonesia
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Turkey