Global IR Spectroscopy Market Insights Forecasts to 2033

• The Global IR Spectroscopy Market Size was estimated at USD 1.53 Billion in 2023
• The Market Size is Expected to Grow at a CAGR of around 5.92% from 2023 to 2033
• The Worldwide IR Spectroscopy Market Size is Expected to Reach USD 2.72 Billion by 2033
• Asia Pacific is expected to Grow the fastest during the forecast period.

The Global IR Spectroscopy Market Size is projected to exceed USD 2.72 Billion by 2033, exhibiting a CAGR of 5.92% from 2023 to 2033. The key driving factors of this market are the innovations in IR spectrometer and the growing pharmaceutical & healthcare industry.

Market Overview

Spectroscopy is considered to be a sophisticated molecular structure analysis technique that specializes in identifying functional groups within a molecule. This method is broadly utilized in both organic and inorganic chemistry, as well as in various industries and laboratories. It is being integrated with automation and artificial intelligence, thereby improving the performance of the equipment, increasing the possibilities of analysis, and expanding the range of uses. Such advancements enable the accurate identification of specific compounds which is a molecular screening technique. It is a non-destructive method of analysis and because of that, it can be used to inspect a variety of drug substances and drug products in the pharmaceutical industry. The use of IR spectroscopy in forensics, polymerics, and alcoholism detection is driving the growth of the IR spectroscopy market. Furthermore, the increasing efforts to enhance IR spectrometers so that they can be applied in daily activities will contribute to the increase in demand.   

Report Coverage

This research report categorizes the IR spectroscopy market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the IR spectroscopy market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the IR spectroscopy market.

Driving Factors

Infrared spectroscopy is very crucial in pharmaceutical analysis. It is used for drug quality control, identification of raw materials, and process monitoring. The quick analysis of active pharmaceutical ingredients (APIs) and impurity detection allow for regulatory compliance. This quality adds to the importance of infrared spectroscopic methods in pharmaceutical manufacturing, increasing efficiency and quality in the market. The use of IR spectroscopy in food and beverage industries for authenticity and nutritional value testing is expanding its market. Moreover, in industrial chemistry, infrared spectroscopy provides quality control; compounds are identified and impurities are detected, verifying the integrity of products and safety for consumers, which boosts the market growth of IR spectroscopy. Also, innovations in portable and miniaturized IR spectrometers are enhancing the demand.

Restraining Factors

IR spectroscopy fails to manage sizeable data, automate procedures, and integrate with other methods or databases. Also, IR spectroscopy is susceptible to atmospheric carbon dioxide and water vapor which creates problems in ambient air monitoring which can compromise precision. Furthermore, IR spectroscopy for the diluted samples. This can limit the identification of the trace amount of substance in the sample. Such obstacles hinder the growth of the IR spectroscopy market.

Market Segmentation

The global IR spectroscopy market share is classified into technology, type, and end-user industry.

• The mid-IR spectroscopy segment held the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period.

Based on the technology, the global IR spectroscopy market is divided into near-IR spectroscopy, mid-IR spectroscopy, and far-IR spectroscopy. Among these, the mid-IR spectroscopy segment accounted for the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period. MIR can detect solid as well as liquid samples with high sensitivity. It can detect contaminants in soil, water, and air. It is also used in the food industry to analyze and detect if any contamination is present. The versatility and sensitivity of MIR are responsible for market expansion. 

• The portable segment accounted for the largest share in 2023 and is predicted to grow at a remarkable CAGR during the forecast period.

Based on type, the global IR spectroscopy market is divided into benchtop, portable, hyphenated, and others. Among these, the portable segment accounted for the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period. The reasons behind the growing expansion of this market are because it is lightweight and compact making them easy to carry. This spectrometer is useful for field works such as environmental monitoring and on-site material identification. These features reduce the need for sample transportation and give real-time results.

• The healthcare & pharmaceutical segment attributed the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period.

Based on the end-user industry, global IR spectroscopy is divided into healthcare & pharmaceuticals and Chemicals. Among these, the healthcare & pharmaceutical segment accounted for the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period. IR spectroscopy techniques are used in applications related to protein identification, pesticide residue analysis, drug testing and discovery, food contamination, and isotope ratio determination, which are majorly needed in the pharmaceutical industry. In addition, the market will likely be increased within the next years considering the strict government rules imposed to create pharmaceuticals and ensure safety.

Regional Segment Analysis of the IR Spectroscopy Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is expected to hold the largest share of the global IR spectroscopy market over the predicted timeframe.

North America is anticipated to hold the largest share of the global IR spectroscopy market over the predicted timeframe. The two main countries driving the region's market expansion are the US and Canada. The widespread use of IR spectrometers in a variety of applications is responsible for the increase.
The market in this region is expanding due to a number of factors, including increased investment in life science research and development, ongoing improvements in IR spectroscopy technology, a rise in the use of food fingerprinting techniques, increased demand from the pharmaceutical industry, and a growing need for a quick, potent, nondestructive, and precise analytical tool for determining the content of bioactive compounds.

Asia-Pacific is anticipated to have the fastest growth rate during the projected period. This is because of the industrial development of food and beverage, pharmaceuticals, and others. Additionally, China's IR Spectroscopy market and Japan's IR Spectroscopy market are leading regions for IR spectroscopy in the Asia-Pacific region. Moreover, stable economies and technological advancements are expanding the market in this region.

Competitive Analysis

The report offers the appropriate analysis of the key organizations/companies involved within the IR spectroscopy market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Metrohm
• Bruker Corporation
• PerkinElmer Inc.
• Thermo Fisher Scientific Inc
• Agilent Technologies
• Horiba Limited
• Shimadzu Corporation
• Newport Corporation
• Jasco
• Sartorius AG
• Oxford Instruments
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In July 2023, Bruker launched MOBILE-IR II FT-IR Spectrometer. This is a portable spectrometer which can be used anywhere without compromising with results. It also has IP65 protection, to withstand harsh environments.

• In April 2024, ABB launched MB3600 Fourier transform FT-NIR spectrometer. This spectrometer can be used as a benchtop instrument for QA/QC or in research laboratory but also as a mobile unit.

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