The report aims to offers a thorough outlook of the IR Spectroscopy market based on various key elements, such as market drivers, limitations, threats, restraining factors, and growth prospects. The report aims to deliver a comprehensive understanding of the IR Spectroscopy market growth and expansion in each key region of the world. It offers accurate estimations about the expected market size and growth over the projected timeline
The global Near Infrared (NIR) spectroscopy market size is expected to reach USD 437.3 Million at a steady CAGR of 6.2% in 2028, according to latest analysis by Emergen Research. Near infrared spectroscopy market revenue growth is driven by steady rise in demand for specific tests and improved quality results. The technology offers various advantages and is used extensively in fields such as food, pharmacy, chemicals, and agriculture which is driving market revenue growth to a significant extent currently.
Near infrared spectroscopy helps in identifying healthy and infected seeds. It can also classify the degree to which seeds are infected. Near infrared spectroscopy is an accurate and non-destructive detection method with potential for quality control of seeds and safety assessment, which drives its demand in agricultural industry. However, high cost of near infrared spectroscopy devices and lack of awareness are some factors hindering market growth.
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Key players in the market include Agilent Technologies, PerkinElmer, Thermo Fisher Scientific Inc., Bruker Corp., Hitachi Ltd., Shimadzu Corporation, Carl Zeiss AG, JASCO International Co., Ltd., Horiba Ltd., and Lumex Instruments.
Key Highlights of the Report
- In March 2020, trinamiX GmbH, which is a subsidiary of BASF SE, launched mobile Near Infrared (NIR) spectroscopy solution. The company makes spectroscopy affordable and accessible beyond laboratory and factory applications. trinamiX is providing all the features, such as precise data and material analytics, mobile and robust hardware, and excellent chemical and molecular expertise in a single handheld device.
- Portable near infrared spectroscopy is powerful instrument which provides advantages for online, non-destructive or in situ analysis. These devices are cost-effective, small-sized, simpler, and robust with ergonomic design. The portable segment revenue is expected to register a rapid growth rate during the forecast period.
- Fourier Transform InfraRed (FT-IR) spectrometer is an instrument which acquires broadband near infrared spectra. FT-IR is used in various applications due to its improved sensitivity and speed. Fourier Transform InfraRed spectroscopy is used in chemistry, biology research fields, geology, and materials.
Regional Analysis – The research report is an investigative study providing a conclusive view of the IR Spectroscopy business sphere by an in-depth segmentation of the market into key applications, types, and regions. These segments are analyzed on the basis of present, emerging, and future trends. The regional segmentation provides current and forecast demand estimation for the IR Spectroscopy industry in key regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Emergen Research has segmented the global near infrared spectroscopy market on the basis of modality, technology, application, and region:
Modality Outlook (Revenue, USD Million; 2018–2028)
- Benchtop
- Portable
Technology Outlook (Revenue, USD Million; 2018–2028)
- Dispersive Infrared Spectroscopy
- Fourier Transform Infrared (FT-IR) Spectroscopy
Application Outlook (Revenue, USD Million; 2018–2028)
- Medical uses
- Astronomical Spectroscopy
- Remote Monitoring
- Agriculture
- Particle Measurement
- Material Science
- Industrial uses
- Others
Key point summary of IR Spectroscopy:
- The report offers a comprehensive overview of the IR Spectroscopy market size, share, and growth rate in the forecast duration.
- It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
- The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
- It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
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