IR Spectroscopy Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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IR Spectroscopy Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : November, 2020 | Semiconductor & Electronics | PPT format

Report Digest


Global IR Spectroscopy Market: Snapshot

The increasing investments in the research and development activities in the biological vertical are providing a significant push to the global infrared (IR) spectroscopy market. Based on product type, the market can be divided into benchtop, hyphenated, terahertz IR spectroscope, portable, and IR microscopy. On the basis of spectrum sensitivity, the market can be classified into near-infrared (NIR), far IR, and mid IR. The role of mid IR in the IR spectroscopy market is highly significant. Mid IR finds a wide range of applications in research activities and the industrial sector. Besides this, the demand for NIR spectroscopy devices in seed quality detection is expected to rise at a significant pace during the forecast period.

In terms of end-use industries, the global IR spectroscopy market can be categorized into the pharmaceutical, biological, food and beverages, and chemicals. The demand for IR spectroscopy is anticipated to remain high in the pharmaceutical sector throughout the review period. It plays an important role in the pharmaceutical excipient manufacturing process. The rising acceptance of international certificates such as good manufacturing practice (GMP), good distribution practice (GDP), and current good manufacturing practice (cGMP) is supplementing the growth of the segment.

The global IR spectroscopy market holds immense growth potential. The influx of new players in the market is likely to increase the competition in the market in the near future. Prominent companies operating in the market are increasingly focusing towards global expansion and technological advancements in order to stay ahead.

Global IR Spectroscopy Market: Overview 

IR spectroscopy consists of a range of analytical techniques based on the interaction of infrared radiation with matter, where a part of radiation is absorbed by the matter.  With the help of infrared spectrometer, IR spectroscopy is used to identify and study chemicals in any state—solid, liquid, or gaseous. The technique is extensively useful in studying the molecular structure of polymers, organic, and inorganic compounds. The identification of functional groups is a vital characteristic in IR spectroscopy and organic chemistry. Favorable regulatory framework for process analytical technology in various industries, such as food and beverages and pharmaceuticals, and substantial investments are the key developments offering a robust background for the evolution of the IR spectroscopy market.  

Prepared with the help of extensive primary and secondary researches, the report provides a snapshot of current market dynamics, recent developments, emerging trends, technological advancements, and key offerings of market players. The research study offers a detailed analysis of the factors that stir up the demand for high-potential IR spectroscopes and recent industry developments shaping the strategic landscape. The market share and size of key end-use segments in major regions along the historical as well as forecast period are mentioned and the key drivers are analyzed. The assessments are helpful for market players to evaluate imminent investment pockets and facilitate impactful strategy formulation. 

Global IR Spectroscopy Market: Key Trends, Drivers, and Restraints

The growth of the IR spectroscopy market is primarily driven by the increasing demand for IR spectroscopy techniques in a wide spectrum of sectors such as biological and medicinal chemistry, chemicals, food and beverages (F&B), pharmaceuticals, and semiconductors. Combined with this, the rise in R&D investments in life sciences has augmented the demand for IR spectroscopy. The soaring demand for near-infrared spectroscopy for fingerprinting of high-risk food types such as dairy products has led to an extensive application of IR spectroscopy in the F&B sector. The increased use of IR spectroscopy technology has led to the design of high-throughput IR spectroscopes, which enable rapid detection of food adulteration and contamination. This has enlarged the potential of IR spectroscopy across major regions. 

Availability of used IR spectroscope detectors and the limitation of IR spectroscopy method in analyzing the functional groups of a mixture of compounds are factors likely to hinder the growth of the market to an extent. However, continuous technological advancements in IR spectroscopes lead to miniaturization and the digitization of IR detectors, creating exciting opportunities for market players. 

Global IR Spectroscopy Market: Region-wise Outlook 

North America exhibits significant prospect for the growth in the IR spectroscopy market. The developments are driven by the stringent regulations on drug discovery and increased investment in R&D initiatives in the field of life sciences. In addition, substantial grants funded by the U.S. government for the design of high-throughput spectroscopes for plant and animal phenotyping and growing popularity of conferences are providing a platform for key market players to showcase new technologies. The Asia Pacific region is anticipated to showcase immense potential in terms of the demand for IR spectroscopes; the growth is driven by advancements in the semiconductor industry and rising food safety concerns. 

Global IR Spectroscopy Market: Competitive Landscape 

The global IR spectroscopy market is highly fragmented. Major strategies adopted by the key market players are new product launches, joint ventures, partnerships, agreements, acquisitions, and others, in order to consolidate and expand their presence in the market. Prominent companies looking for a significant share in the IR spectroscopy market include Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Bruker Corporation, Jasco Inc., Bayspec, Inc., Horiba, Ltd., Princeton Instruments, Perkinelmer Inc., Spectra Analysis Instruments, Inc., and Teledyne Technologies, Inc..

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?