Infrared Spectroscopy Devices Market Overview
Infrared Spectroscopy refers to a technique that is used for structure in sedation detection and quantification of elements or molecules in any solid liquid or gaseous samples. IR spectroscopy exploits the fact that different elements and molecules can absorb characteristic frequencies of the structure. An infrared spectrum is a graph of infrared light absorbing all transmittance on the y-axis versus frequency or wavelength on the x axis. This graph is then used to study detect and quantify different samples. Infrared spectroscopy is used in various cellular industries such as pharmaceutical chemical food and beverages as well as biotechnology for the purpose of raw material testing and quality control.
Market Research Future (MRFR) in their report on the Infrared Spectroscopy Devices Market predicted a 7.2% CAGR during the forecast period (2018-2023). The infrared spectroscopy devices market is expected to cross a valuation of USD 1821 million by the end of 2023. Infrared spectroscopy devices ensure interaction between infrared spectroscopy and matter. Mostly based on the absorption technology, the method can be used to study properties of chemicals, be it solid, liquid, or gaseous. The spectroscopy creates a spectrum which can be read through a light absorbance graph. By matching the resonant frequency of the spectroscopy with the vibrational frequency of molecules, the method helps in identifying the nature of the molecule. The technology is quite popular in both organic and inorganic chemistry. MRFR while discussing the report included detailed segmental analysis, along with an in-depth study of the factors that can promote the market substantially in the coming years.
Factors substantiating the market growth include the increased funding by the public and private sector for research studies in the biotechnology and pharmaceutical discoveries. Moreover, increasing research and development activities initiated by governments, schools, universities and research institutions across the developing regions is fuelling the growth of the market.
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Infrared Spectroscopy Devices Market Segmentation
The Global Infrared Spectroscopy Devices Market is segmented on the basis of spectral sensitivity, technology, product, end user, and region. Based on spectrum sensitivity, the global infrared spectroscopy devices market is segmented into near infrared, mid infrared, and far infrared. Based on technology, the infrared spectroscopy devices market is segmented into dispersive infrared spectroscopy and Fourier transform infrared spectroscopy. Based on product, the infrared spectroscopy devices market is segmented into portable, bench top, and hyphenated. On the basis of end user, the global infrared spectroscopy devices market is segmented into hospitals and clinics, pharmaceutical industries, and research laboratory.
Infrared Spectroscopy Devices Market Regional Analysis
The North American region dominates the global infrared spectroscopy devices market accounting for the largest market share. Factors supporting the growth in the regional market include substantial advancements and the uptake of advanced technologies.
The European region is another lucrative market for infrared spectroscopy devices. Continuous improvement in medical technologies is a key driving factor responsible for the growth of the regional market. European countries such as the U.K. and Germany backed by the enormous investments made in the development of these devices and related technologies account for the major contributors to the growth in the regional market.
The Asia Pacific region is rapidly emerging as a promising market for infrared spectroscopy devices, witnessing huge funding from foreign investors. Availability of cost-competitive logistics such as the land, raw materials, and workforce encourage manufacturers to shift their production bases to countries such as China and India, which in turn, fosters the market growth in the region.
Infrared Spectroscopy Devices Market Players
- PerkinElmer
- Jasco
- Shimadzu
- Bruker Corp.
- Agilent Technologies
- Thermo Fisher Scientific Inc.
- Princeton Instruments
- Sartorius AG
- Others
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