Global Infrared Spectroscopy Market – Industry Trends and Forecast to 2029

Global Infrared Spectroscopy Market, By Product Type (Benchtop IR Spectroscope, IR Microscopy, Portable IR Spectroscope, Hyphenated IR Spectroscope, Terahertz IR Spectroscope), Spectrum (Near Infrared, Far Infrared, Mid Infrared), Application (Pharma and Biotech, Food and Beverages, Environmental Testing, Academics, Security, Industrial, Petrochemicals, Semiconductors, Others), Technology (Dispersive Infrared Spectroscopy and Fourier Transform Infrared (FTIR) Spectroscopy)  – Industry Trends and Forecast to 2029

Global Infrared Spectroscopy Market Analysis and Size

Currently, the infrared spectroscopy is one of the most widely used spectroscopy techniques in the food industry. Moreover, owing to its understanding of the molecular landscape and chemical pathologies of various clinical diseases, the infrared spectroscopy is a powerful investigative tool. It may lead to the discovery of new biomarkers and the development of novel therapeutic strategies in the future. Owing to increasing usage for various applications, the market is projected to show lucrative growth over the forecasted period.

• Global Infrared Spectroscopy Market was valued at USD 1.0 billion in 2021 and is expected to reach USD 1.49 billion by 2029, registering a CAGR of 4.6% during the forecast period of 2022-2029. The “Pharma and biotech” accounts for the largest application segment in the infrared spectroscopy market within the forecasted period owing to the high demand for imaging and illumination components of endoscopes applications. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Global Infrared Spectroscopy Market Definition

Infrared spectroscopy is the most widely used analytical technique, and it is used by scientists in a wide range of activities, including protein characterization, nanoscale semiconductor analysis, and space exploration. Infrared spectroscopy has numerous advantages, including fast scanning, high resolution, and high sensitivity. It also has a wide range of applications, including substance identification, molecular structure determination, impurity detection, and functional group identification. Infrared spectroscopy has no phase constraints and can be used for both qualitative and quantitative analysis.

Infrared Spectroscopy Market Dynamics

This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Increased Usage of Infrared Spectroscopy Will Drive Growth

The increase in the demand for infrared spectroscopy techniques in various industries including biological, food and beverages, pharmaceuticals, medicinal, chemistry, chemicals, and semiconductors, is the most significant factor driving the growth for this market. Rise in the use of infrared spectroscopy in the biological sector to detect various diseases and its usage in for food fingerprinting techniques are also expected to accelerate the overall growth of the market.

Furthermore, factors such as the expanding healthcare sector and increasing healthcare expenditure are also expected to fuel market growth. Moreover, the rise in the demand from emerging nations, rise in the adoption of NIR spectroscopy in seed detection also cushions the market’s growth within the forecasted period.

Restraints/Challenges Global Infrared Spectroscopy Market

• High Costs

As compared with other substitute technologies, the infrared spectroscopy products are very costly, which is expected to obstruct market growth.

The technical limitations of infrared spectroscopy along with the usage of used devices instead of buying new ones are projected to challenge the infrared spectroscopy market in the forecast period of 2022-2029.

Opportunities

• Growing Research and Development Activities to Offer Various Opportunities

The increased spending on research and development in the healthcare and pharmaceuticals industry will offer various growth opportunities within forecasted period. Moreover, the increase in the research and development investment in life sciences coupled with the rise in the technological advancements and developments in the field of spectroscopy giving rise to miniaturization and the digitization of IR detectors, are estimated to generate lucrative opportunities for the market.

This infrared spectroscopy market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the infrared spectroscopy market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Post Covid-19 Impact on Infrared Spectroscopy Market

The infrared spectroscopy market was largely impacted by the outbreak of COVID-19. With the imposition of the lockdown and social distancing restrictions by the government to curb the COVID-19 pandemic, there was an increased demand for quality maintenance driving the adoption of IR spectroscopy.

Although various challenges emerged, such as the irregularities in supply of raw materials, halt of various operations and others, but there has been an increase in the production of medicines and other medical equipment which increased demand for IR spectroscopy in the healthcare and pharmaceutical end-use industries, resulting in an increase in demand for infrared spectroscopy products and solutions.

Recent Developments

• In September 2020, Bruker Corporation acquired Canopy Biosciences, LLC (Missouri, US), a company that specialises in high multiplex biomarker imaging for immuno-oncology, immunology, and cell therapy. Bruker's product offerings in multi-omics and fluorescence-based imaging techniques were expanded as a result of this acquisition.

Global Infrared Spectroscopy Market Scope

The infrared spectroscopy market is segmented on the basis of product type, spectrum, application and technology. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

• Benchtop IR Spectroscope
• IR Microscopy
• Portable IR Spectroscope
• Hyphenated IR Spectroscope
• Terahertz IR Spectroscope

On the basis of product type, the infrared spectroscopy market is segmented into benchtop IR spectroscope, IR microscopy, portable IR spectroscope, hyphenated IR spectroscope and terahertz IR spectroscope. The benchtop IR spectroscope accounts for the largest share within the market.

Spectrum

• Near Infrared
• Far Infrared
• Mid Infrared

On the basis of spectrum, the infrared spectroscopy market is segmented into near infrared, far infrared and mid infrared.

Application

• Pharma and Biotech
• Food and Beverages
• Environmental Testing
• Academics
• Security
• Industrial
• Petrochemicals
• Semiconductors
• Others

On the basis of application, the infrared spectroscopy market is segmented into pharma and biotech, food and beverages, environmental testing, academics, security, industrial, petrochemicals, semiconductors and others. Pharma and biotech segment will hold the largest market share owing to its high demand for imaging and illumination components of endoscopes applications.

Technology

• Dispersive Infrared Spectroscopy
• Fourier Transform Infrared (FTIR) Spectroscopy

On the basis of technology, the infrared spectroscopy market is bifurcated into dispersive infrared spectroscopy and fourier transform infrared (FTIR) spectroscopy.

Infrared Spectroscopy Market Regional Analysis/Insights

The infrared spectroscopy market is analyzed and market size insights and trends are provided by country, product type, spectrum, application and technology as referenced above.

The countries covered in the infrared spectroscopy market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the infrared spectroscopy market because of the rapid development and uptake of technology, presence of high-tech technology and developed infrastructure and large research industry within the region.

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the rapid growth of the pharmaceuticals and food and beverage industries and the developing healthcare infrastructure within the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The infrared spectroscopy market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for infrared spectroscopy market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the infrared spectroscopy market. The data is available for historic period 2010-2020.

Competitive Landscape and Infrared Spectroscopy Market Share Analysis

The infrared spectroscopy market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to infrared spectroscopy market.

Some of the major players operating in the infrared spectroscopy market are Thermo Fisher Scientific, (U.S), Agilent Technologies, Inc., (U.S), PerkinElmer, Inc., (U.S), Medtronic (Ireland), Horiba, (Japan), Teledyne FLIR LLC, (U.S), Shimadzu Corporation, (Japan), Miltenyi Biotec, (U.S), Metrohm India Limited, (Switzerland), Bruker, (U.S), Hitachi High-Tech Corporation, (Japan), JASCO, (Japan), Newport Corporation, (U.S), Bruker (US), Abbott (US),  Oxford Instruments, (U.K), Quest Medical Imaging B.V. (Netherlands), Sartorius AG, (Germany) and Teledyne Princeton Instruments (U.S), among others.

Research Methodology : Global Infrared Spectroscopy Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-infrared-spectroscopy-market

Customization Available : Global Infrared Spectroscopy Market

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report