IR Spectroscopy Market

• Growing pharma and healthcare investments are driving the market growth

Market CAGR for IR Spectroscopy is driven by rising pharma and healthcare investments. Technological developments in the healthcare & pharmaceutical industries to stimulate R&D in these industries, as well as an increase in the number of medical facilities and clinical research to serve the needs of patients and medical staff, contribute to the market expansion. The Asian market is a hub for various industries, driving demand for IR spectroscopes for testing and monitoring. In addition, developing portable spectroscopes that will be aided in on-field applications is another element predicted to give growth prospects for the IR spectroscopy market.

Based on their chemical makeup, IR Spectroscopy technology can recognize and distinguish items. As a result, it is used to process control, enforce quality standards, and avoid adulteration in preparing both plant- and animal-based goods. It is possible to calculate the amounts of lipids, proteins, carbs, and water in animal samples using IR spectroscopy.

Additionally, the growth of dairy operations and food processing plants globally is opening up huge potential for the producers of IR spectroscopy. Food processing, fruit processing, oil production, milk and cheese production, and the production of meat products are just a few industries that use IR spectroscopy. Growing public interest in food production and quality has developed, primarily due to dietary changes. Demand for IR Spectroscopy is fueled by the need for high standards for quality and process control in food production, which in turn demands for the right analytical techniques to analyze food.

Pharmaceutical discovery research is now being conducted in North America and Europe. As a result, it is anticipated that IR Spectroscopy will become more popular in these areas. Since the United States has the largest pharmaceutical market in the world and many medications are produced there, there is a demand for IR Spectroscopy. Additionally, the FDA performs regulatory approval for a variety of food goods; consequently, many food product manufacturers use IR Spectroscopy to check for contaminants, which aids in maintaining quality standards.

Globally, various industries are being impacted by the COVID-19 industries like food and beverage, medicine, energy, electronics, semiconductor, and chemicals, have all experienced substantial disruptions as a result of the outbreak. As they are the main sources of supply and demand for IR spectroscopy solutions, the rise in industrial activities is having an impact on the development of the worldwide IR spectroscopy market. The production, supply, and sales of electronic components needed for the production of IR spectroscopy have been hampered by the factory closures, travel restrictions, trade bans, and border lockdowns implemented to combat and contain the outbreak.

However, the post-pandemic situation revives the market, and a significant increase in demand for IR spectroscopy is seen.

For instance, The WHO reported in May 2022  that approximately 11% of drugs sold in emerging nations are fake, which causes 144,000 fatalities per year. NIR spectroscopy is one of the methods that many regulatory organizations, including the U.S.-FDA, Ministry of Health, NDA, and Health Canada, utilize to evaluate pharmaceutical authentication. The multitude of applications, flexibility, adaptability, and the expanding application of NIR spectroscopy in providing chemical and physical information all contribute to the industry's expansion. Thus, driving the IR Spectroscopy market revenue.

The Global IR Spectroscopy Market Industry is poised for substantial growth, with projections indicating a market size of 1.35 USD Billion in 2024 and an anticipated increase to 2.51 USD Billion by 2035. The compound annual growth rate of 5.79% from 2025 to 2035 underscores the market's potential as various industries increasingly adopt IR spectroscopy for analytical purposes. This growth trajectory is supported by advancements in technology, expanding applications across diverse sectors, and heightened awareness of quality and safety standards. As the market evolves, it is likely to attract investments and innovations that further enhance its capabilities and applications.

The Global IR Spectroscopy Market Industry is increasingly influenced by the growing emphasis on environmental monitoring and sustainability. IR spectroscopy plays a crucial role in detecting pollutants and analyzing environmental samples, which is essential for regulatory compliance and public health. Governments worldwide are implementing stricter environmental regulations, thereby increasing the demand for analytical techniques that can provide accurate and reliable data. As industries strive to minimize their environmental impact, the adoption of IR spectroscopy for monitoring air, water, and soil quality is likely to rise. This trend suggests a promising outlook for the market, particularly as environmental concerns continue to gain prominence.

Technological innovations significantly influence the Global IR Spectroscopy Market Industry, enhancing the capabilities and applications of IR spectroscopy. Recent advancements include the development of portable and miniaturized spectrometers, which allow for in-field analysis and real-time data acquisition. These innovations facilitate the use of IR spectroscopy in various sectors, including environmental monitoring and food safety. As these technologies evolve, they are expected to drive market growth, with projections indicating a market size of 2.51 USD Billion by 2035. The integration of artificial intelligence and machine learning into IR spectroscopy systems further enhances data interpretation, potentially revolutionizing analytical practices.

The Global IR Spectroscopy Market Industry experiences a notable surge in demand driven by its extensive applications in the pharmaceutical sector. IR spectroscopy is pivotal for drug formulation, quality control, and stability testing. For instance, the ability to identify functional groups and molecular structures enhances the efficiency of drug development processes. As the pharmaceutical industry continues to expand, with an estimated market value of 1.35 USD Billion in 2024, the reliance on IR spectroscopy for analytical purposes is likely to grow. This trend indicates a robust future for IR spectroscopy, particularly as regulatory standards for drug safety and efficacy become increasingly stringent.

Research and development activities are pivotal in propelling the Global IR Spectroscopy Market Industry forward. Academic institutions and research organizations are increasingly utilizing IR spectroscopy for various scientific investigations, including material science, nanotechnology, and biochemistry. The continuous pursuit of innovation in these fields necessitates advanced analytical techniques, with IR spectroscopy being a preferred choice due to its versatility and precision. As R&D investments grow, particularly in emerging economies, the market is expected to witness substantial growth. The anticipated compound annual growth rate of 5.79% from 2025 to 2035 reflects the increasing integration of IR spectroscopy in cutting-edge research.

The Global IR Spectroscopy Market Industry is experiencing heightened adoption within the food and beverage sector, driven by the need for quality assurance and safety testing. IR spectroscopy provides rapid and non-destructive analysis of food products, enabling the detection of contaminants and the assessment of composition. With consumers becoming more health-conscious and regulatory bodies enforcing stringent safety standards, food manufacturers are increasingly relying on IR spectroscopy for quality control. This trend is expected to contribute to market growth, as the food and beverage industry continues to evolve and adapt to changing consumer preferences and regulatory requirements.

By Region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American IR spectroscopy market region contributed the highest market revenue in 2022, primarily due to upgraded Technology in this Region and infrastructural development. In addition, Governmental supportive policies help the market to flourish further.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: IR Spectroscopy Market Share by Region 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe’s IR Spectroscopy market accounts for the second-largest market share due to advanced infrastructure and highly regulated industries that require IR spectroscopy. Further, the German IR Spectroscopy market held the largest market share, and the UK IR Spectroscopy market is the fastest-growing market in the European Region.

The Asia-Pacific IR Spectroscopy Market is expected to grow faster during the projected timeframe for IR spectroscopy. This is due to the industrial growth of industries like food and beverage, pharmaceutical, and others. Moreover, China’s IR Spectroscopy market and Japan’s IR Spectroscopy market are leading areas for IR spectroscopy in the Asia-Pacific region.

For instance, Spectroscopy Corp (PSC) and Bio-Rad Laboratories collaborated in 2019,  IR and Raman Library, respectively, and Identification software from Bio-Rad. Strategic collaboration was done to improve the key companies’ customer reach.

Leading market players are investing heavily in research and development to introduce new innovative solutions, which will help the IR Spectroscopy market to expand. Market participants are also undertaking strategic approaches, whether organic or inorganic, to expand their international presence, with important market developments including introducing new product lines, agreements, mergers and acquisitions, capex, and strategic partnerships with other organizations. To survive and grow in a hyper-competitive market, the IR Spectroscopy industry must offer cost-effective as well as sustainable options.

Manufacturing locally to reduce operational expenses is one of the key business tactics used by industries in the global IR Spectroscopy industry to benefit customers and capture market share. IR Spectroscopy industry has offered significant advantages to the healthcare and pharma industries.

Major players in the IR Spectroscopy market, including Thermo Fisher Scientific Inc., Agilent Technologies Inc., PerkinElmer Inc., Horiba Limited, Shimadzu Corporation, Metrohm, Bruker Corporation, Hitachi High-Technologies Corporation, Jasco, Newport Corporation, Oxford Instruments, Sartorius AG, and Teledyne Princeton Instruments, and others, are attempting to increase market share by heavily investing in research and development to upgrade their Technology and offer affordable solutions.

Bruker Corp. creates, produces, and sells scientific tools and analytical solutions that let customers explore. Gunther Laukien created the business in 1961, with its main office in Billerica, Massachusetts. It operates in the Bruker Scientific Instruments (BSI), Bruker Energy, and Supercon Technologies (BEST) sectors. In September 2020, Canopy Biosciences, LLC, which specializes in advanced multiplex biomarker scanning for immunology and cell therapy, was purchased by Bruker Corporation. With this acquisition, Bruker could offer more fluorescence-based scanning and multi-omics imaging products.

Since its founding in Kyoto in 1875, Shimadzu Corporation has provided cutting-edge products to clients worldwide. "Contributing to Society through Science and Technology" is Shimadzu's corporate philosophy. Over the past years, the company has accelerated and advanced its Technology, especially in MS technology. In June 2020, with RIKEN Innovation Company Ltd., Shimadzu Corporation developed new enterprises based on RIKEN research findings on brain and five sense assessment.