Infrared Spectroscopy Devices Market Share, Trends and Growth Analysis By Spectrum Sensitivity (Near-Infrared (Nir), Mid-Infrared (Mid Ir), And Far-Infrared (Far Ir)); By Technology (Dispersive Infrared Spectroscopy And Fourier Transform Infrared (Ftir) Spectroscopy)); By Product (Bench Top, Portable, And Hyphenated) And By End Users (Hospitals And Clinics, Pharmaceutical Industry And Research Laboratories) – Global Forecast Till 2023
Market Research Future (MRFR) in their report on the infrared spectroscopy devices market Growth predicted a 7.2% CAGR during the forecast period (2018-2023). Infrared spectroscopy devices have widespread association in verticals that includes forensic science, chemical industry, healthcare, pharmaceutical, paint, polymer, electronics, food, energy, and biotechnology among many. The technology plays a significant role in testing quality and maintaining raw material standard.
Imposition of strict government regulations to maintain purity standard and safety has influenced industries in adopting such advanced technology. With advancing technologies, the response time are also going down substantially owing to which the market can witness substantial growth. The products are becoming portable and the size of these machines are getting miniaturized owing to which its industrial percolation is increasing. In addition, its association with other products such as high-pressure liquid chromatography (HPLC) is bearing fruits for many verticals owing to which the infrared spectroscopy devices market can expect robust growth during the forecast period.
The infrared spectroscopy devices market is expected to cross a valuation of USD 1821 million by the end of 2023. Infrared spectroscopy devices ensure interaction between infrared spectroscopy and matter. Mostly based on the absorption technology, the method can be used to study properties of chemicals, be it solid, liquid, or gaseous. The spectroscopy creates a spectrum which can be read through a light absorbance graph.
By matching the resonant frequency of the spectroscopy with the vibrational frequency of molecules, the method helps in identifying the nature of the molecule. The technology is quite popular in both organic and inorganic chemistry. MRFR while discussing the report included detailed segmental analysis, along with an in-depth study of the factors that can promote the market substantially in the coming years.
Infrared Spectroscopy Devices Market Regional Analysis:
Based on the region, MRFR segments the infrared spectroscopy devices market into regions like North America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA).
Towing to the technological superiority the Americas lead the global market with comparative ease. Their robust infrastructure in the research sector give them an edge over the rest. This is also leading to a rapid development and technological implementation in various fields that are helping the market in its growth. In addition, the presence of the U.S. is playing a substantial role in the regional market. Major manufacturers are also based out of this region.
Europe can be considered the second largest infrared spectroscopy devices market in terms of valuation. The APAC region is set to become the fastest region of the market during the forecast period. The region is witnessing significant rise in research and development expenditure and the industrial economy is rapidly evolving. A lot of global influencers are now eyeing the region for a better expansion plan.
Infrared Spectroscopy Devices Market Segmentation:
MRFR segments the global infrared spectroscopy devices market by spectrum sensitivity, technology, product, and end-users.
Based on the spectrum sensitivity, the infrared spectroscopy devices market can be segmented into comprises near-infrared (NIR), mid-infrared (Mid IR), and far-infrared (Far IR). Mid IR can play a pivotal role in taking the market forward.
Technology-wise, the infrared spectroscopy devices market includes dispersive infrared spectroscopy and Fourier transform infrared (FTIR) spectroscopy.
Product-based segmentation of the infrared spectroscopy devices market can be segmented into bench top, portable, and hyphenated. Portable devices are getting significant market traction.
Based on the end-user, the infrared spectroscopy devices market comprises hospitals and clinics, pharmaceutical industry, and research laboratories. Pharmaceutical industry segment can register significant market growth during the forecast period.
Infrared Spectroscopy Devices Market Competitive Landscape:
Notable players as recorded by MRFR in this infrared spectroscopy devices market are Jasco, Shimadzu, PerkinElmer, Agilent Technologies, Bruker Corp., Princeton Instruments, Thermo Fisher Scientific Inc., Sartorius AG and others.
In 2018, Agilent launched 8700 LDIR that included a new type of chemical imaging that introduces greater clarity and speed to serve pharmaceutical, biomedical, food, and materials science. Its accuracy level also quite awe-inspiring.
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