North America IR Spectroscopy market is expected to reach USD 599.9 billion by 2024 from USD 308.5 billion in 2016, at a CAGR of 8.7% in the forecast period 2017 to 2024.The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.Access Report: http://databridgemarketresearch.com/reports/north-america-infrared-spectroscopy-market/
By Product Type (Benchtop IR Spectroscope, IR Microscopy, Portable IR Spectroscope, Hyphenated IR Spectroscope, Terahertz IR Spectroscope), By Spectrum (Near Infrared, Far Infrared, Mid Infrared), By Applications (Pharma and Biotech, Food and Beverages, Environmental Testing, Academics, Security, Industrial, Petrochemicals), By Country (U.S., Canada, Mexico)
Some of the major factors driving the growth of market for IR spectroscopy are increasing food safety concern, increasing life science R&D spending, and technological advancement. Spectroscopy has grown exponentially in terms of accuracy and sensitivity and has witnessed the launch of many new products with improved features.
INCREASING FOOD SAFETY CONCERN
NIR spectroscopy is used by the scientists to develop specific ingredients to enhance the nutritional quality of beverages. IR spectroscopy is being used by the scientists to test & measure the content of food. NIR spectroscopy is one of the proven & accepted methods of food testing and analysis, and to monitor the quality parameters of the food & beverages and it also offers significant advantages like real time analysis, non destructive sampling and, less sample waste.
Technological advancements such as miniaturization, automation, and computerization of IR spectroscopy instruments are not only generating an interest in research laboratories but also in pharmaceutical companies. Miniaturization of instruments facilitates their installation in small laboratories, thereby overcoming space constraints. Furthermore, pharmaceutical companies look for better reproducibility, ease of operation, and computerized results, which are obtained through technological advancements in instruments. Spectroscopy has grown exponentially in terms of accuracy and sensitivity and has witnessed the launch of many new products with improved features.
INCREASING LIFE SCIENCE R&D SPENDING
Global pharmaceutical companies are adopting cost cutting strategies such as alliances and acquisitions to jointly conduct R&D activities and to focus on the development of niche products. Spectroscopy has numerous applications in protein analysis and purification, and quality control of raw materials and APIs such as measuring the contents and also in developing of the specific ingredients for enhancement of the nutritional quality of foods & beverages.
Some of the major players operating in this market are:-
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