IR spectroscopy market size reached USD 1.05 Billion in 2020 and is expected to register a CAGR of 5.9%.The IR Spectroscopy report additionally gives information about market size, market share, sales growth, and CAGR during the forecast period of 2021-2028. The record additionally gives key insights about top groups in the market along with a radical SWOT evaluation, Porter’s Five Forces analysis, and feasibility analysis to provide competitive edge to the readers. The report specializes in the latest trends, most important demanding situations and opportunities, and limitations referring to the continued pandemic.
Growing demand for IR spectroscopy in diverse industries such as chemicals, biological research, healthcare pharmaceuticals, consumer electronics, food beverages, and others is a key factor expected to continue to drive growth of the global IR spectroscopy market over the forecast period. In addition, increasing investments in research and development in the healthcare and pharmaceutical industries is expected to further propel market growth going ahead. Furthermore, increasing adoption of mid-infrared spectroscopy is expected to augment market growth in the near future.
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Further key findings from the report suggest
- Benchtop spectroscopes segment revenue is expected to expand at a significant CAGR during the forecast period. Increasing usage of benchtop spectroscopes systems to identify chemical characteristics of nuclear/molecular patterns of specimens is expected to boost growth of this segment.
- In terms of market share, the mid-infrared segment is expected to register significant growth over the forecast period due to increasing use of mid-infrared technology to recognized molecules based on activity between particles and magnetic fields in mid-infrared area.
- Increasing use of IR spectroscopy in the healthcare pharmaceuticals industry to enhance light quality of endoscopic equipment used for deletion of blood vessel plaque, and kidney stones is expected to drive growth of the healthcare pharmaceuticals segment. In addition, the healthcare pharmaceuticals segment is expected to continue to lead in terms of revenue share contribution to the global IR spectroscopy market during the forecast period.
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The report offers a complete analysis of the global IR Spectroscopy market with details about each market player including company profile, financial standing, global position, revenue contribution, production and manufacturing capacity, business expansion plans, and new product launches. Key players are strategizing various plans such as MA acquisition, partnerships, joint ventures, license agreement and collaborations. Horiba, Ltd., TeraView Limited, Bayspec Inc., Teledyne Technologies Incorporated, Bruker Corporation, Shimadzu Corporation, Carl Zeiss Spectroscopy GmbH, Avantes BV, PerkinElmer, Inc., and Agilent Technologies, Inc. and others are some of the top companies profiled in the report.
The report also covers the scope of individual applications and types in each region. The report also covers details about production and consumption patterns, technological developments, revenue growth, market size, market share, key trends and demands influencing market growth in the region, and robust presence of key players in the region.
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Emergen Research has segmented the global IR spectroscopy market on the basis of type, technology, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
- Micro Spectroscopes
- Hyphenated Spectroscopes
- Portable Spectroscopes
- Benchtop Spectroscopes
Technology Outlook (Revenue, USD Billion; 2018–2028)
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Biological Research
- Healthcare pharmaceuticals
- Consumer Electronics
- Food Beverages
Regional segmentation comprises of a current and forecast estimation of the market in the key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East Africa.
The report addresses the following key points:
- The report provides a forecast of market drivers, restraints, and future opportunities for the IR Spectroscopy market
- The report further analyses the changing market dynamics
- Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth
- Extensive competitive landscape mapping with profiles of the key competitors
- In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
- Revenue forecast, country scope, application insights, and product insights
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