Infrared Spectroscopy Devices Market Research Report- Forecast to 2030

Infrared Spectroscopy Devices Market Share, Trends and Growth Analysis By Spectrum Sensitivity (Near-Infrared (Nir), Mid-Infrared (Mid Ir), And Far-Infrared (Far Ir)); By Technology (Dispersive Infrared Spectroscopy And Fourier Transform Infrared (Ftir) Spectroscopy)); By Product (Bench Top, Portable, And Hyphenated) And By End Users (Hospitals And Clinics, Pharmaceutical Industry And Research Laboratories) - Forecast Till 2030

ID: MRFR/MED/2132-HCR | November 2022 | Region: Global | 84 Pages         

Infrared Spectroscopy Devices Market

The Infrared Spectroscopy Devices Market size is estimated to reach around USD 1,800 Million and expected to grow at CAGR of 5.60% by the end of the predicted period

Segmentation

By Spectrum Sensitivity Near-Infrared (Nir) Mid-Infrared (Mid Ir) Far-Infrared (Far Ir)
By Technology Dispersive Infrared Spectroscopy Fourier Transform Infrared (Ftir) Spectroscopy
By Product Bench Top Portable Hyphenated
By End Users Hospitals And Clinics Pharmaceutical Industry Research Laboratories

Key Players

  • PerkinElmer
  • Jasco
  • Shimadzu
  • Bruker Corp.
  • Agilent Technologies
  • Thermo Fisher Scientific Inc.
  • Princeton Instruments
  • Sartorius AG
  • Others

Drivers

  • Growing concern for safety
  • Stringent regulations for purity of the product
  • Growing cases of adulteration
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Infrared Spectroscopy Devices Market Overview


The Infrared spectroscopy devices market is expected to reach USD 1,800 Million by 2030 at 5.60% CAGR during the forecast period 2022-2030.. In varied applications, which includes healthcare and medical research that spectroscopy is the covering the path of sampling for testing purposes. Spectroscopy is used as a tool for disease detection, enhancing diagnostics, and sensing. I.R. to UV-VIS for biomedical and several other applications in the past few years, many advancements have evolved spectroscopes. Factors like a growing number of medical facilities and clinical research centers all over the world to serve better to the patients their needs and medical staff, increasing investments in pharmaceutical industries and healthcare to motivate R&D in some mentioned industries are contributing toward the Infrared Spectroscopy Devices Market growth.


For raising the demand for I.R. spectroscopes for testing and sampling purposes, the Asian market varied industries ranging from manufacturing to oil & gas. The emergence of lightweight and compact portable/handheld spectroscopes to guide in on-field applications is another factor predicted to bring growth points for the manufacturers and providers of I.R. spectroscopy. The increasing number of food processing units and dairy productions globally are creating ample opportunities for the I.R. spectroscopy manufacturers, which is expected to move the growth of the Infrared Spectroscopy Devices Market during the estimated period.


Covid-19 analysis


The outbreak of the Nobel virus covid-19 has led to a decrease in the demand for several products. The manufacturing plants in several countries are shut down to stop the virus from spreading. The spread of the covid-19 increased the production of medicines and other medical equipment, which increased the demand for I.R. spectroscopy in the field of healthcare and pharmaceuticals leading to the increase in demands of I.R. spectroscopy products.


The pandemic crisis has led to a decline in the growth of the Infrared Spectroscopy Devices Market globally as they are the major demand and supply of the Ir spectroscopy products. The pandemic has impacted the manufacturing, supply chains and sales of various electronic components.


Infrared Spectroscopy Devices Market Dynamics 



  • Key Drivers


I.R. spectroscopy is referred to as the most promising spectroscopic technique for biomedical research and diagnostics. The I.R. spectroscopy market is predicted to get benefit from the rising spending on R & D in the healthcare and pharmaceuticals industry.


In optical spectroscopy, sensing plays a critical role, and clinical and research instrumentation in various areas. Optical spectroscopy provides an ideal means for non-destructive sampling and real-time analysis in the lab. The needs of these arrangement applications have changed rapidly in recent years with the arrival of wearable diagnostic systems, point of care devices, and a sharp increase in product demand for lower detection limit systems. The performance, size, and cost of instruments are important for these applications, often with mutually absolute specifications in Infrared Spectroscopy Devices Market.



  • Market Challenges


The higher cost of I.R. spectroscopy products compared with other substitute technologies has affected widespread adoption. Among NIR spectroscopy products, NIR Raman and SWIR cameras are usually the most expensive. Most of the NIR spectroscopy products are supported by indium gallium arsenide sensors. These being expensive semiconductor material accounts for a major share of the total price of a SWIR camera. Additionally, the glass lens supporting the indium gallium arsenide sensor is expensive compared with the lenses used in other I.R. products. This adds up to the total cost of NIR spectroscopy products by acting as a challenge for the Infrared Spectroscopy Devices Market.



  • Market Opportunities


The most vital and basic agricultural goods are seeds and for the essential agricultural production quality of seeds is important. The traditional nucleic acid-based method is used for detecting seed quality is dangerous, slow and needs pre-treatment. So NIR spectroscopy technology not only identifies healthy and infected seeds but can also classify the degree to which the seeds are affected. Along with pointing parts of fungal pathogens. There are various tests that are carried out by the International Seed Testing Association, which show that the NIR spectroscopy is a non-destructive and accurate detection method with potential for quality control and safety of seeds. NIR spectroscopy technology has developed rapidly in recent years due to its large number of advantages. It is used in large numbers in several fields, such as the chemicals, food, pharmacy, and agriculture industries. Seeds need to be detected for moisture, fatty acid and protein. NIR spectroscopes can sort list the seeds on the basis of these factors. This technology has the potential to sort the seeds with low potency. Worm-eaten and healthy seeds can be sorted by NIR spectroscopes. This technology is providing very great opportunities for Market. It also helps in Infrared Spectroscopy Devices Market Growth.



  • Market Restraints


I.R. spectroscopy devices have a life period of around 5-7 years on average, and these products are expensive in nature. In the previous years, it has been observed that the ASP of these products has increased slightly because of various technological advancements. For many years now, these products have been available in the market and are used in various industries for multiple purposes.


From current statistics, it is found that several used spectroscopy devices are available for resale; it has been noticed that some of the industry segments prefer used devices instead of buying new ones. This would hamper the growth of the Infrared Spectroscopy Devices Market.


Infrared Spectroscopy Devices Market Segmentation


The infrared spectroscopy devices market is segmented on the basis of spectrum sensitivity, which consists of near-infrared, mid-infrared, and far-infrared. Based on technology, the market is segmented into Fourier transform infrared spectroscopy and dispersive infrared spectroscopy. On the basis of Technology the market is segmented into dispersive infrared spectroscopy and fourier transform infrared (Ftir) Spectroscopy. On the basis of product, the market is segmented into benchtop, portable, and hyphenated. On the basis of the end-user, the market is segmented into hospitals and clinics, the pharmaceutical industry and research laboratories.


Regional analysis



  • America is one of the largest infrared spectroscopy device markets. The two most important factors for the dominance of America are the rapid development and rising of technology and the large research industry in the U.S. 

  • Europe is the second-largest region for the market. Asia Pacific region is the predicted fastest-growing region in the marketdue to the fast-growing industrial economy and growing research and development expenditure. The report for Infrared spectroscopy devices Market analysis says that it has extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts' main opinion leaders to gain a deeper insight of the market and industry performance. It increases the Infrared spectroscopy devices Market value.


Competitive Intensity Within The Industry  


The competitive key market players of the Market who changed the entire Infrared Spectroscopy Devices Market Outlook. Those are as follows



  • PerkinElmer

  • Jasco, Shimadzu

  • Bruker Corp.

  • Agilent Technologies

  • Thermo Fisher Scientific Inc.

  • Princeton Instruments 

  • Sartorius AG and others.


Recent development 


There are many key companies in the Infrared Spectroscopy Market. These companies take up developmental initiatives from time to time. Companies have developed new prototypes and product lines for release into the market. Many companies have taken up research and development for the improvement of existing product lines. Mergers and acquisitions joint partnerships have helped in the collective expansion of the sector.


Report Overview 


This report contains market analysis, market segmentation, market overview, market restraints, regional analysis, Cumulative Evaluation etc., which helps to get vivid information about the Infrared Spectroscopy Devices Market trends.


Key industrial segments


By Spectrum Sensitivity



  • Near-Infrared (Nir)

  • Mid-Infrared (Mid Ir)

  • Far-Infrared (Far Ir)


 By Technology



  • Near-infrared

  • Mid-infrared

  • Far-infrared


By Product Type



  • Benchtop Spectroscopes

  • Micro Spectroscopes

  • Portable Spectroscopes

  • Hyphenated Spectroscopes


By End-user



  • Healthcare

  • Chemicals

  • Oil and Gas

  • Food and Beverages

  • Other End-users


By Region


North America



  • The US

  • Canada

  • Mexico


Europe



  • France

  • Germany

  • Italy

  • The U.K.

  • Russia

  • Rest of Europe


Asia Pacific (APAC)



  • China

  • India

  • South Korea

  • Japan

  • Australia

  • Rest of APAC


Middle East & Africa (MEA)



  • South Africa

  • Saudi Arabia

  • UAE

  • Rest of MEA


South America (SAM)



  • Brazil

  • Argentina

  • Rest of SAM



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 1,800 Million
  CAGR   5.60%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Spectrum Sensitivity, Technology, Product, End User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   PerkinElmer, Jasco, Shimadzu, Bruker Corp., Agilent Technologies, Thermo Fisher Scientific Inc., Princeton Instruments, Sartorius AG and others
  Key Market Opportunities   New product launches and R&D Amongst major key Players
  Key Market Drivers

  • Growing concern for safety
  • Stringent regulations for purity of the product
  • Growing cases of adulteration etc


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    Frequently Asked Questions (FAQ) :

    Infrared Spectroscopy Devices Market is projected to grow at a 5.60% CAGR between 2022-2030.

    Infrared Spectroscopy Devices Market is predicted to touch USD 1,800 Million by 2030.

    The Americas is predicted to dominate the Infrared Spectroscopy Devices Market.

    Notable players profiled in the Infrared Spectroscopy Devices Market include Sartorius AG, Princeton Instruments, Thermo Fisher Scientific Inc., Agilent Technologies, Bruker Corp., Shimadzu, Jasco, and PerkinElmer.

    Different end use industries of infrared spectroscopy devices market include research laboratories, pharmaceutical industry, and hospitals and clinics.