IR Spectroscopy Market Insights
The global IR spectroscopy market is likely to grow steadily over the next few years. Increasing expenditures in scientific research and the aerospace industry would drive market growth. According to Market Research Future (MRFR), the global IR spectroscopy market is estimated to grow from USD 0.4 BN in 2022 to USD 0.84 BN by 2032, growing at an 8.70% CAGR over the review period (2023-2032).
Growing investments in technology development and spurring rise in the healthcare pharmaceutical industry boost the IR spectroscopy market size. Besides, increasing product launches with innovative and easy-to-use technologies helped the market grow excellently. Also, rising uses of infrared spectroscopy across industries greatly increase the IR spectroscopy market revenues.
IR spectroscopy also provides innovative diagnostics methods for cancer, offering the benefits of early diagnosis that help start the treatment in the initial stages. Also, IR spectroscopy is increasingly used in food agriculture, healthcare, defense, mining, and metrology industries. Moreover, the increasing awareness of IR spectroscopy advantage and the growing prevalence of cancer positively impact the IR spectroscopy market size.
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Major Players
Leading IR spectroscopy market players are
- Agilent Technologies, Inc.,
- Thermo Fisher Scientific, Inc.,
- PerkinElmer, Inc.,
- Shimadzu Corporation,
- Horiba Limited,
- Metrohm,
- Bruker Corporation,
- Jasco,
- Newport Corporation,
- Hitachi High-Technologies Corporation,
- Oxford Instruments,
- Teledyne Princeton Instruments, and
- Sartorius AG, among others.
Global IR Spectroscopy Market – Segmentations
The report is segmented into product types, technologies, and verticals. The product type segment is sub-segmented into benchtop, portable, hyphenated, and others. The technology segment is sub-segmented into near-infrared spectroscopy, mid-infrared spectroscopy, and far-infrared spectroscopy.
The vertical segment is sub-segmented into healthcare, pharmaceuticals, chemicals, research, food beverage, and others. By region, the IR spectroscopy market is segmented into the Americas, Asia-Pacific, MEA, Europe, and the rest of the world.
Global IR Spectroscopy Market - Geographical Analysis
North America dominates the global IR spectroscopy market. The presence of major market players and high-tech technology development infrastructure drives the market. Besides, the proliferation of the healthcare sector, rising healthcare spending, and adoption of IR spectroscopy for surveillance medical diagnostics are major trends in the infrared spectroscopy market.
Furthermore, rapid development and uptake of advanced technologies IR spectroscopy and a large research industry in the US fuel the regional market's growth. The US and Canada account for major IR spectroscopy market shares. The North American IR spectroscopy market is estimated to dominate throughout the forecast period.
Global IR Spectroscopy Market - Competitive Landscape
The IR spectroscopy market appears highly competitive, with many well-established players forming a competitive landscape. Market players adopt strategic approaches such as mergers acquisitions, product technology launches, expansion, and collaboration to gain a larger competitive share. Players make substantial investments to drive the RD required for innovation and product launch. They also invest in increasing their global footprint and acquiring promising companies from emerging markets.
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Industry/Innovation/Related News:
Jul. 12, 2023 -- Bruker launched a portable MOBILE-IR II spectrometer to bring laboratory-grade FT-IR analysis. The MOBILE-IR II is a portable, battery-powered Fourier Transform Infrared (FT-IR) spectrometer delivering the high spectral performance of a laboratory benchtop system. This powerful mobile IR spectrometer will enable users to bring routine and advanced FT-IR applications to the field.
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