Infrared spectroscopy market is expected to rise to an estimated value of USD 1.65 billion by 2026 registering a substantial CAGR of 7.2% in the forecast period of 2020-2026. Infrared spectroscopy is the most commonly used analytical technique. It is used by scientific researchers in many activities, such as protein characterization, nanoscale semiconductor analysis, and space exploration. Infrared spectroscopy provides several advantages, such as high scan speed, high resolution, and high sensitivity.

Key Market Competitors: Global Infrared Spectroscopy Market

Few of the major market competitors currently working in the infrared spectroscopy market are TeraView Limited, Teledyne Technologies Incorporated, Agilent Technologies, Inc., BaySpec, Inc., HORIBA ABX, Ltd., Spectra Analysis Instruments, Inc., Avantes BV, Bruker, Carl Zeiss AG, Galaxy Scientific Inc, Gasera Ltd., Ibsen Photonics A/S, Merck KGaA, Darmstadt, PerkinElmer Inc., Shimadzu Corporation, VIAVI Solutions Inc., JASCO., Teledyne Princeton Instruments, Menlo Systems, TOPTICA Photonics AG, Advancedphotonix, among others.

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Segmentation: Global 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 Application (Pharma and Biotech, Food and Beverages, Environmental Testing, Academics, Security, Industrial, Petrochemicals, Semiconductors, Others)
  • By Technology (Dispersive Infrared Spectroscopy and Fourier Transform Infrared (FTIR) Spectroscopy)
  • By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)

Competitive Analysis: Global Infrared Spectroscopy Market

The global infrared spectroscopy market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of infrared spectroscopy market for Global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

Market Drivers

  • Stringent laws and regulations related to process analytical technology in the pharma industry
  • Rising demand for near-infrared spectroscopy for food fingerprinting techniques which are of high risk like the food fingerprinting in dairy products, detecting adulteration and contamination
  • Rise in R&D investment in pharma and life sciences
  • Technological Advancements and developments in the field of spectroscopy giving rise to miniaturization and the digitization of IR detectors, thereby leading to the overall growth and development of this market
  • The rising use of IR spectroscopy in the biological sector to detect various diseases fosters the growth of the market
  • The rising demand for IR spectroscopy techniques in various industries including biological, medicinal, chemistry, chemicals, food and beverages (F&B), pharmaceuticals, and semiconductors

Market Restraints

  • Technical limitation of IR spectroscopy in analyzing groups of compound mixtures
  • Availability of used IR spectroscopy devices in the market

Reasons to Purchase this Report

  • Current and future of global infrared spectroscopy market outlook in the developed and emerging markets
  • The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
  • Regions/Countries that are expected to witness the fastest growth rates during the forecast period
  • The latest developments, market shares, and strategies that are employed by the major market players

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Customization of the Report:

  • All segmentation provided above in this report is represented at country level
  • All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)

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