Global IR spectroscopy market

Global IR spectroscopy market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 10% during the forecast period.

Global IR Spectroscopy Market

 

Global IR Spectroscopy Market

The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.

Market Definition

IR spectroscopy stands for infrared spectroscopy. It is also known as vibrational spectroscopy. This is a method or technique which is used to identify and study functional groups or chemical substances in solid, liquid, and gaseous forms. This technique deals with the infrared region of an electromagnetic spectrum and is conducted using an instrument called an infrared spectrometer.

Market Dynamics

IR spectroscopy technique is a reliable and simple method and is extensively used in both inorganic and organic chemistry and in industry and research laboratories. A surge in the adoption of IR spectroscopy for applications such as dynamic measurement, monitoring and quality control applications is the major driving factor behind the growth of the market. Increasing adoption of IR spectroscopy in forensic analysis application and in alcohol detectors to determine blood alcohol content, rising use of IR spectroscopy to measure the degree of polymerization in polymer manufacture and growing developments in IR-spectrometer device for everyday use are expected to improve the growth of the market during the forecast period.

However, technical constraint of IR spectroscopy technique and lack of ability to analyse the molecular weight of any substance are major restraining factors that could restrict the growth of the market.

Global IR Spectroscopy Market: Segmentation Analysis

By product type, portable spectroscopes segment dominated the market in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. A surge in the adoption of portable spectrometer in applications such as in forensic analysis applications, field analysis of samples and identification of raw materials is attributed to the growth of the market. A growing demand for portable spectrometer in science industry, especially in chemistry and astronomy and rising use of portable spectrometers in applications such as in drug discovery, environmental testing, and nanotechnology are expected to expand growth of the market during the forecast period. Additionally, benefits offered by portable spectrometers such as fast response, low cost, availability, and portability are making them more ideal choice for various industrial applications.

By industry, pharmaceutical and food and beverage segment dominated the market in 2019 and is projected to witness fast growth at a CAGR of XX% during the forecast period. A growing adoption of IR spectroscopy technique for food contamination detection, drug testing and discovery, pesticide residue analysis, isotope ratio determination and protein identification applications is attributed to the growth of the market. Furthermore, implementation of stringent government regulations to produce pharmaceuticals and for the safety of various food products is likely to propel the growth of the market in the coming years.

Global IR Spectroscopy Market: Regional Analysis

Region-wise, North America dominated the market in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. The US and Canada are the major contributors behind the growth of the market in the region. The growth is attributed to the massive adoption of IR spectrometer device in various applications.

Rising investment for research and development activities in life science field, constant advancements IR spectroscopy technology, surge in the adoption of food fingerprinting techniques, rising demand from pharmaceuticals industry and increasing demand for fast, powerful, nondestructive and accurate analytical tool for determination of the bioactive compounds content are driving the growth of the market in the NA region.

The objective of the report is to present a comprehensive analysis of the Global IR Spectroscopy Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global IR Spectroscopy Market dynamics, structure by analyzing the market segments and projects the Global IR Spectroscopy Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global IR Spectroscopy Market make the report investor’s guide.
The Scope of Global IR Spectroscopy Market

Global IR Spectroscopy Market, By Spectrum Sensitivity

• NIR
• Mid IR
• Far IR
Global IR Spectroscopy Market, By Product Type

• Benchtop Spectroscopes
• Micro-spectroscopes
• Portable Spectroscopes
• Hyphenated Spectroscopes
Global IR Spectroscopy Market, By Industry

• Biological
• Pharmaceuticals
• Chemicals
• Food & Beverages
• Environmental
• Semiconductors
• Others
Global IR Spectroscopy Market, By Region

• North America
 US
 Canada
• Europe
 UK
 France
 Germany
 Italy
 Spain
 Norway
 Russia
• Asia Pacific
 China
 India
 Japan
 South Korea
 Australia
 Malaysia
 Indonesia
• South America
 Brazil
 Mexico
 Argentina
• Middle East and Africa
Global IR Spectroscopy Market, Key Players

• PerkinElmer
• Jasco
• Shimadzu
• Bruker Corp
• Agilent Technologies
• Thermo Fisher Scientific Inc
• Princeton Instruments
• Sartorius AG
• Lumex Instruments
• Microptik BV
• Malvern Panalytical Ltd
• Foss
• HORIBA, Ltd
• ZEISS International
• Teledyne Technologies Inc
• ABB Group
• XX
• XX

 

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