Global IR Spectroscopy Market Size Worth USD 2.72 Billion By 2033 | CAGR of 5.92%
Category: Semiconductors & ElectronicsGlobal IR Spectroscopy Market Size Worth USD 2.72 Billion By 2033
According to a research report published by Spherical Insights & Consulting, The Global IR Spectroscopy Market Size is Expected to Grow from USD 1.53 Billion in 2023 to USD 2.72 Billion by 2033, at a CAGR of 5.92% during the forecast period 2023-2033.
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Browse key industry insights spread across 236 pages with 120 Market data tables and figures & charts from the report on the “Global IR Spectroscopy Market Size, Share, and COVID-19 Impact Analysis, By Technology (Near-IR Spectroscopy, Mid-IR Spectroscopy, and Far-IR Spectroscopy), By Type (Benchtop, Portable, Hyphenated, and Others), By End User Industry (Healthcare & Pharmaceuticals and Chemicals), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.” Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/ir-spectroscopy-market
The global IR spectroscopy market is growing as it is employed in many sectors such as chemicals, food and beverages, pharmaceuticals, and others. Companies that are manufacturing IR spectrometers are innovating IR spectral imaging and IR spectral analysis equipment to get quick and accurate results. These innovations in the IR spectrometer and its software are expanding the market. IR spectroscopy is also used in diagnostic and therapeutic centres as it provides essential data about the tissues. The rise in the food safety sector about the nutritional value of food is creating abundant opportunities for the growth of the IR spectroscopy market. As IR spectroscopy is one of the best methods to identify molecular landscapes, it is widely used for the diagnosis, prevention, and treatment of the disease. Its ability to analyse different types of samples such as tissues, blood, and breath, is driving the market growth. Also, advancements in the portable and miniature version of the IR spectrometer are further boosting its market growth. However, the technical constraints and its inability to identify the molecular weight hinder the market growth.
The mid-IR spectroscopy segment held the highest share in 2023 and is expected to grow at a considerable CAGR during the projected timeframe.
Based on the technology, the IR spectroscopy market is classified into near-IR spectroscopy, mid-IR spectroscopy, and far-IR spectroscopy. Among these, the mid-IR spectroscopy segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. This is due to its advanced structural specificity and ability to identify the sample's chemical content.
The portable segment held the highest share in 2023 and is anticipated to grow at a remarkable CAGR during the projected timeframe.
Based on the type, the IR spectroscopy market is divided into benchtop, portable, hyphenated, and others. Among these, the portable segment held the highest share in 2023 and is anticipated to grow at a remarkable CAGR during the projected timeframe. A portable IR spectrometer can be used on the field, without any need of the lab and is accurate with the results, resulting in the growth of the market.
The healthcare & pharmaceutical segment held the highest share in 2023 and is anticipated to grow at a considerable CAGR during the projected timeframe.
Based on the end user industry, the IR spectroscopy market is divided into healthcare & pharmaceuticals and Chemicals. Among these, the healthcare & pharmaceutical segment held the highest share in 2023 and is anticipated to grow at a considerable CAGR during the projected timeframe. Pharmaceutical sectors mostly use IR spectroscopy because of its ability to give quick results and to understand the stability of pharmaceutical compounds.
North America is estimated to hold the largest share of the IR Spectroscopy market over the forecast period.
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North America is estimated to hold the largest share of the IR spectroscopy market over the forecast period. The growth of the North American market can be attributed to the rising use of IR spectroscopy in the healthcare sector and the rising number of healthcare and clinical research institutions. Also, continuous technical advancements are boosting the market growth in this region.
Asia Pacific is predicted to have the highest CAGR growth in the IR spectroscopy market over the forecast period. The rising need for IR spectroscopy in the food and beverage industry is accelerating the market growth in this region.
The key companies in the global IR spectroscopy market are Metrohm, Bruker Corporation, PerkinElmer Inc., Thermo Fisher Scientific Inc, Agilent Technologies, Horiba Limited, Shimadzu Corporation, Newport Corporation, Jasco, Sartorius AG, and Oxford Instruments.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In December 2023, Shimadzu Corporation launched IRSpirit-x series of FTIR instrument, which comes with IR Pilot software. It can measure multiple samples at a time.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the IR Spectroscopy market based on the below-mentioned segments:
Global IR Spectroscopy Market, By Technology
- Near-IR Spectroscopy
- Mid-IR Spectroscopy
- Far-IR Spectroscopy
Global IR Spectroscopy Market, By Type
- Benchtop
- Portable
- Hyphenated
- Others
Global IR Spectroscopy Market, By End User Industry
- Healthcare & Pharmaceuticals
- Chemicals
Global IR Spectroscopy Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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