Growing demand for IR spectroscopy in diverse industries and increasing investments in research and development in healthcare and pharmaceutical industries are some key factors driving global IR spectroscopy market growth.
Vancouver, BC -- (SBWIRE) -- 05/06/2021 -- The global IR spectroscopy market size reached USD 1.05 Billion in 2020 and is expected to register a CAGR of 5.9%, during the forecast period, according to latest analysis by Emergen Research. Growing demand for IR spectroscopy in diverse industries such as chemicals, biological research, healthcare & pharmaceuticals, consumer electronics, food & beverages, and others is a key factor expected to continue to drive growth of the global IR spectroscopy market over the forecast period.
In addition, increasing investments in research and development in the healthcare and pharmaceutical industries is expected to further propel market growth going ahead. Furthermore, increasing adoption of mid-infrared spectroscopy is expected to augment market growth in the near future.
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Some Key Highlights in the Report
Benchtop spectroscopes segment revenue is expected to expand at a significant CAGR during the forecast period. Increasing usage of benchtop spectroscopes systems to identify chemical characteristics of nuclear/molecular patterns of specimens is expected to boost growth of this segment.
In terms of market share, the mid-infrared segment is expected to register significant growth over the forecast period due to increasing use of mid-infrared technology to recognized molecules based on activity between particles and magnetic fields in mid-infrared area.
Increasing use of IR spectroscopy in the healthcare & pharmaceuticals industry to enhance light quality of endoscopic equipment used for deletion of blood vessel plaque, and kidney stones is expected to drive growth of the healthcare & pharmaceuticals segment. In addition, the healthcare & pharmaceuticals segment is expected to continue to lead in terms of revenue share contribution to the global IR spectroscopy market during the forecast period.
Key players in the market include Horiba, Ltd., TeraView Limited, Bayspec Inc., Teledyne Technologies Incorporated, Bruker Corporation, Shimadzu Corporation, Carl Zeiss Spectroscopy GmbH, Avantes BV, PerkinElmer, Inc., and Agilent Technologies, Inc.
In June 2020, Shimadzu Corporation and RIKEN Innovation Co., Ltd. teamed up to develop new brain-based and five-senses-based evaluation experiments.
IR Spectroscopy Market Segmentation:
Emergen Research has segmented the global IR spectroscopy market on the basis of type, technology, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
Micro Spectroscopes
Hyphenated Spectroscopes
Portable Spectroscopes
Benchtop Spectroscopes
Technology Outlook (Revenue, USD Billion; 2018–2028)
Near-Infrared
Mid-Infrared
Far-Infrared
End-use Outlook (Revenue, USD Billion; 2018–2028)
Chemicals
Biological Research
Healthcare & pharmaceuticals
Consumer Electronics
Environmental
Food & Beverages
Others
Regional Segmentation:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Global IR Spectroscopy Market Report – Key Takeaways:
The latest research report analyzes the changing competitive scenario.
The report carries an unbiased perspective towards the global market performance.
The study presents an eight-year assessment of the global market and its principal product segments.
Market dynamics, such as drivers, opportunities, restraints, and threats, have been discussed in the report in detail.
The analytical data and strategic planning methodologies are expected to aid businesses in decision-making
The report serves as an exhaustive regional analysis of the global IR Spectroscopy market, systematically presenting the business profiles of various stakeholders.
Furthermore, the report provides valuable data about the critical factors influencing market progress.
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2021–2028
Chapter 3. Key Insights
Chapter 4. IR Spectroscopy Market Segmentation & Impact Analysis
4.1. IR Spectroscopy Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Growing demand for IR spectroscopy in diverse industries
4.2.2.2. Increasing investment in research and development in the healthcare and pharmaceutical industries
4.2.2.3. Growing utilization of IR spectroscopy in the biological industry
4.2.2.4. Growing strict legislation and rules associated to process analytical technology in the healthcare industry
4.2.3. Market restraints analysis
4.2.3.1. The technological constraint of IR spectroscopy in the analysis of groups of chemical solvents
4.2.3.2. The high cost of IR spectroscopy devices
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter's Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. IR Spectroscopy Market By Type Insights & Trends, Revenue (USD Billion)
5.1. Type Dynamics & Market Share, 2021–2028
5.1.1. Micro Spectroscopes
5.1.2. Hyphenated Spectroscopes
5.1.3. Portable Spectroscopes
5.1.4. Benchtop Spectroscopes
CONTINUED..!!
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