IR Spectroscopy Market Research Report - Global Forecast till 2027

IR Spectroscopy Market Research Report: Information By Technology (Near-Infrared Spectroscopy, Mid-Infrared Spectroscopy and Far-Infrared Spectroscopy), Product Type (Benchtop, Portable, Hyphenated and Others), Vertical (Healthcare, Pharmaceuticals, Chemicals, Research, Food & Beverage and Others) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2027

ID: MRFR/SEM/8946-HCR | February 2021 | Region: Global | 100 pages

Please note that the assessment period of the report has been updated from 2019-2026 to 2020-2027. Cordially fill Sample form for the updated data.

Market Synopsis


Global IR Spectroscopy Market is estimated to reach USD 1,548.9 Million by 2026, registering a CAGR of 6.53% during the forecast period of 2020–2026.


Infrared (IR) spectroscopy is a technique used for structure elucidation, detecting, and quantifying elements or molecules in any sample, which may be solid, liquid, or gas. IR spectroscopy analyses the different frequencies characteristic of different elements and molecules to provide output. The infrared spectrum is a graph of infrared light absorbance (or transmittance) on the vertical axis vs. frequency or wavelength on the horizontal axis. It is then used to detect, quantify and study different samples.


Growing investments in the healthcare & pharmaceutical industry and continuous technological advancements in IR spectroscopy are the key drivers for the market. However, the high cost of IR spectrometers and technical limitations of IR spectroscopy limits the market growth.


Global IR Spectroscopy Market has been segmented based on Technology, Product Type, Vertical, and Region.


By technology, the IR spectroscopy market has been segmented into near-infrared spectroscopy, mid-infrared spectroscopy, and far-infrared spectroscopy. The mid-infrared spectroscopy segment is expected to dominate the market during the forecast period. However, the far-infrared spectroscopy segment is expected to register the highest CAGR owing to growing applications such as detoxification, immunity-boosting, and healing wounds, among others, in the healthcare & pharmaceutical industry.


By Product Type, the IR spectroscopy market has been segmented into benchtop, portable, hyphenated, and others. The benchtop segment is expected to hold the largest market share. Furthermore, the portable segment is expected to register the highest CAGR owing to their low costs, small size, analysis simplicity, robustness, user-friendly sample interfaces, movability, and ergonomic designs.


By Vertical, the IR spectroscopy market has been segmented into healthcare, pharmaceuticals, chemicals, research, food & beverage, and others. The healthcare segment is projected to hold the largest market share. However, the research segment is expected to register a significant CAGR during the forecast period.


The Key Players profiled in the Global IR Spectroscopy Market research report are 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. In September 2019, Bruker Corporation launched an INVENIO X Fourier Transform Infrared (FTIR) system for molecular spectroscopy research.


Global IR Spectroscopy Market, 2018–2026 (USD Million)
IR Spectroscopy Market


Source: MRFR Website


Segmentation


Based on technology, the IR spectroscopy market has been segmented into near-infrared spectroscopy, mid-infrared spectroscopy, and far-infrared spectroscopy.


Based on product type, the IR spectroscopy market has been segmented into benchtop, portable, hyphenated, and others.


Based on vertical, the IR spectroscopy market has been segmented into healthcare, pharmaceuticals, chemicals, research, food & beverage, and others.


By region, the IR spectroscopy market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.


Regional Analysis


Global IR Spectroscopy Market is estimated to grow at a significant rate during the forecast period from 2020 to 2026. The geographic analysis of IR Spectroscopy has been conducted for North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, and the rest of Asia-Pacific), and the rest of the world (the Middle East & Africa and South America).


Based on region, North America holds the largest share for the IR spectroscopy market in 2019 and is expected to grow with significant growth during the forecast period. Various factors are leading to drive the growth of the IR spectroscopy market in the North American region due to the presence of high-tech technology and developed infrastructure. Furthermore, rapid development and uptake of technology and large research industry in the US also fuel the growth of the regional market.


Asia-Pacific is likely to be the fastest-growing region for the IR spectroscopy market during the forecast period. Japan and China are the leading revenue generators in the Asia-Pacific IR spectroscopy market. The rapid growth of the pharmaceuticals and food & beverage industries in the region is expected to drive the growth of the regional market during the forecast period.


Competitive Analysis


The Key Players have adopted new product development, mergers, and acquisition as a part of their growth strategy to further increase their share in the global IR spectroscopy market. For instance, in March 2020, trinamiX GmbH launched a mobile near-infrared (NIR) spectroscopy solution that is a single, handheld device that provides precise data and material analytics and excellent molecular and chemical expertise.


There has been a recent partnership and collaboration among the key players, a strategy the business entities leverage to strengthen their reach to customers. For instance, in 2019, Spectroscopy Corp (PSC) and Bio-Rad Laboratories partnered in which the former will incorporate Bio-Rad’s IR and Raman Library and Identification software with the latter’s instruments.


Key Players


MRFR has identified 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 as the key players in the global IR spectroscopy market.


Intended Audience



  • Infrared Spectroscopy Devices Manufacturers

  • Infrared Spectroscopy Devices Suppliers

  • Private Research Laboratories

  • Research Institutes & Universities

  • Pharmaceuticals Manufacturers

  • Manufacturing Companies

  • Consumer Electronic Product Manufacturers/Suppliers



Report Scope:
Report Attribute/Metric Details
  Market Size   2026 : USD 1,548.9 Million
  CAGR   6.53% (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Technology, Product Type, Vertical
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   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
  Key Market Opportunities   high cost of IR spectrometers and technical limitations of IR spectroscopy
  Key Market Drivers   Growing investments in the healthcare & pharmaceutical industry and continuous technological advancements in IR spectroscopy