The market is developing due to the increase in the prevalence of chronic diseases, growing demand for Process Analytical Technology (PAT) tools, and technological advancements in NIR and Raman spectroscopy. Moreover, the rising demand for cloud-based spectroscopy will provide growth opportunities for the market in the future. However, the shortage of skilled and experienced professionals might hamper the market's growth in the forecast period. The NIR and Raman spectroscopy market is expected to reach USD 3.93 Billion by 2032 and register a CAGR of 11.7% during the forecast period of 2023 to 2032.
NIR and Raman Spectroscopy Market COVID-19 IMPACT
COVID-19 significantly disrupted the NIR and Raman spectroscopy industry in 2020, as the production and supply chain of spectroscopic instruments have been restricted due to the lockdowns. However, scientists are increasingly using Raman spectroscopy to screen for COVID-19 has resulted in the increasing adoption of spectroscopy products, which in turn will help the NIR and Raman spectroscopy market grow steadily. For instance, Northern Arizona University (US) research team is trying to develop new technology for SARS-CoV-2 using single-molecule surface-enhanced Raman spectroscopy (SM-SERS).
NIR and Raman Spectroscopy Market Dynamics
Drivers
A disease that persists for a long time is known as a chronic disease. According to the Centre for Diseases Control and Prevention in 2019, the prevalence of chronic diseases in adults was around 60% globally, and it is reportedly much higher among elderly people. Near-infrared (NIR) spectroscopy is a simple, fast, portable, noninvasive, and inexpensive method for functional diagnosis and therapeutic monitoring of cancer and other chronic diseases. It is based on differences in endogenous chromophores between cancer and normal tissues using either oxy-hemoglobin or deoxy-hemoglobin, lipid or water bands, or a combination of two or more of these as diagnostic markers. These marker bands are used to diagnose several cancers, such as colorectal cancer and others.
Restraints
The limited availability of skilled and experienced professionals such as clinical & research personnel, lab professionals, nutritionists, agronomists, and others adversely affect the growth of the global NIR and Raman spectroscopy market. In addition, the lack of training programs for lab professionals and the limited availability of scholarship and research funds are resulting in fewer admissions to the undergraduate and postgraduate laboratory science courses than required. Moreover, retiring skilled operators without being replaced by a new generation creates a significant shortage of specialists.
Opportunity
Cloud computing for scientific applications, particularly scientific workflows, is progressively increasing in popularity. In laboratories, cloud-based technologies and integrated spectroscopy analysis tools are becoming more popular due to the cloud-based model's accessibility and scalability, pay-as-you-go concept, lower infrastructure costs, improved data sharing with security to its users, and hassle-free data access. Accessibility allows researchers may examine, peak-pick, and control spectrometers on different operating systems. Scalability enables researchers to store the data in the cloud and increase the storage as per their research requirements. Most importantly, it provides security to researchers to secure the data using various cloud-based security platforms. These technologies can connect the hardware, provide access to the most up-to-date information, and provide deeper insights into data faster and more accurately.
NIR and Raman Spectroscopy Market Value Chain Analysis
The global NIR and Raman spectroscopy market is growing steadily and is expected to upsurge in the future. This is due to the increasing prevalence of chronic diseases and the technological advancements in NIR and Raman spectroscopy. The value chain analysis for the global NIR and Raman spectroscopy market comprises four major components that start with the research and product development, manufacturing, distribution & sales, and post-sales monitoring.
Near-infrared spectroscopy is a form of non-invasive imaging that applies near-infrared radiation (wavelengths 780 nm to 3,000 nm) to chemicals or biological subjects to measure differential absorption. Cognitive psychology research can measure tissue oxygenation in the blood, including blood flow changes in the brain cortex. The advantages of near-infrared spectroscopy like cost-effectiveness, the capability to examine irregular surfaces, requires little or no sample preparation, and can also be used to analyze multiple constituents in a single scan, making it a highly flexible form of analysis
Near-infrared spectroscopy (NIRS) is a non-invasive optical imaging technique used to monitor tissue oxygen status. In the brain, NIRS can be used to examine cerebral blood flow (CBF) and the local hemodynamic response during neural activity. The characteristics of NIR allow the fast and non-destructive analytical technique to be analyzed as a process analytical technology (PAT). Moreover, recent instrumental developments open the perspectives of numerous applications in the NIR imaging area.
Fourier Transform Infrared (FTIR) spectroscopy is an analytical methodology used in industry and academic laboratories to understand the structure of individual molecules and the composition of molecular mixtures. FTIR spectroscopy has wide use and applicability in the analysis of molecules important in the pharmaceutical, polymer, and chemical industries. FTIR analysis is used in both industry and academic laboratories to understand the molecular structure of materials and the kinetics, mechanism, and pathways in chemical reactions and catalytic cycles. FTIR spectroscopy ensures that intermediate compounds, raw materials, and final products are within specification.
The Acousto-optic Tunable Filter (AOTF) is an electro-optical device that functions as an electronically tunable excitation filter to simultaneously modulate the intensity and wavelength of multiple laser lines from one or more sources. It serves as a tunable transmissive filter. Additionally, it can accurately and rapidly adjust the wavelength and intensity of the diffracted/filtered light by varying the Radiofrequency (RF) power. A widespread application of AOTF is in multispectral imaging, which allows very rapid scanning, allowing for fast attainment of microscope images with spectral information. It is also used for terrestrial observations with a spectral resolution to monitor plants' status.
Raman spectroscopy is an analytical technique where scattered light is used to measure the vibrational energy modes. It provides both chemical and structural information and the identification of substances through their characteristic Raman ‘fingerprint’. Raman spectroscopy extracts information through the detection of Raman scattering from the sample. It is used in many different fields; it can be used in any application where microscopic, non-destructive, chemical analysis, and imaging are required. Whether the goal is qualitative or quantitative data, Raman analysis can quickly provide critical information. It can soon characterize the chemical composition and structure, whether solid, liquid, gas, slurry, gel, or powder.
Raman micro-spectroscopy is where a Raman micro-spectrometer is used instead of a standard Raman spectrometer. A Raman micro-spectrometer consists of a specially designed Raman spectrometer combined with an optical microscope. This allows the alchemist to acquire Raman spectra of microscopic samples or microscopic areas of larger pieces. The advantage is that fewer models are required, and specific effects may also be enhanced over very localized regions.
Probe-based Raman spectroscopy is a development of the technique that allows for optimal signal collection using fiber optics in the laboratory and restricted spaces or hostile environments. It perfectly illustrates how fiber optics are combined with other optical components to obtain a flexible and straightforward measurement.
The FT-Raman spectroscopy is a Raman configuration designed to collect fluorescence-free and wavelength-stable measurements from a wide range of samples, spanning from crystals to biological tissues. Fourier transform Raman spectroscopy is intended to eliminate the fluorescence problem encountered in conventional Raman spectroscopy. The most important advantage of this technique is reducing the fluorescence effect because of working in a near-IR (NIR) higher frequency region
Others
Process Analytical Technology (PAT) is defined as a mechanism to design, analyse, and control pharmaceutical manufacturing processes through the measurement of critical process parameters that affect critical quality attributes of an Active Pharmaceutical Ingredient (API). PAT allows effective monitoring of reaction paths, and hence leads to a better understanding of the process and development of a more vigorous and safe process.
Infrared spectroscopy is an adaptable method for the determination of fingerprinting and identification of pharmaceutical compounds and functional groups within molecules. It measures energy absorption across the infrared frequency range. Solid, liquid, and gas pharmaceutical samples can be analyzed by infrared spectroscopy. The Fourier Transform Infrared (FTIR) spectroscopic method, where an interferometer is used in place of a monochromator, allows for immediate analysis across the infrared frequency range. Due partly to its speed and sensitivity, FTIR has become the standard of pharmaceutical infrared spectroscopy analysis. Pharmaceutical applications of using FTIR instrumentation include evaluating raw material and final product analyses before market release and inspection.
Biopharmaceuticals have transformed the field of medicine in the types of active ingredient molecules and treatable indications. Adopting quality by design and Process Analytical Technology (PAT) frameworks has helped the biopharmaceutical field realize consistent process intensification, product quality, and real-time control. As part of the PAT strategy, Raman spectroscopy offers many benefits and is used successfully in bioprocessing, from single-cell analysis to cGMP process control.
NIR helps measure fat, moisture, protein, and carbohydrate content in various foods. The most particular advantage is its ability to simultaneously determine several components in a food sample within a short time. Fluorescence spectroscopy plays a significant role in food analysis. It is used to determine, quantify, identify, and classify different food components, additives, contaminants, and adulterants. Liquids can be measured more quickly by the NIR method for moisture, fat, protein, free fatty acids, density, ethanol, solids, organic acids, carbohydrate profile, and other constituents. Near-infrared spectroscopy is a solution that helps companies optimize their production process and guarantee products are meeting specifications.
Surface-enhanced Raman spectroscopy (SERS) is a valuable analytical tool with wide applications in environmental contaminant monitoring. Raman spectroscopy is applied to quality control of agricultural products with higher frequency and can also be used to refine regulatory criteria for both agricultural and environmental monitoring. Raman is integrated into handheld surface-enhanced Raman spectroscopy (SERS) detectors to unmanned aerial vehicles to monitor the gamut from genetic variation to soil and water content.
NIR helps research and develop different medicines produced by biotechnology companies. As a process analytical technology, it can rapidly measure the Critical Material Attributes (CMAs) in real-time, nondestructively, and noncontact during manufacturing processes. Fourier Transform Infrared (FTIR) spectroscopy is an analytical methodology used in industry and academic research laboratories to understand the structure of individual molecules and the composition of molecular mixtures.
Astronomical spectroscopy is the study of astronomy using spectroscopy techniques to measure the spectrum of electromagnetic radiation, including visible light, ultraviolet, X-ray, infrared, and radio waves that radiate from stars and other celestial objects. It is used to measure three major bands of radiation in the electromagnetic spectrum, namely, radio waves, visible light, and X-rays. Raman spectrometers have been intended for the exploration of a varied range of extraterrestrial targets including asteroids, Mars, Europa, Venus, and the Moon.
The global NIR and Raman spectroscopy market has been segmented, on the basis of region, into North America, Europe, Asia Pacific, and Rest of the World.
North America
The NIR and Raman spectroscopy market growth in North America is attributed to the high prevalence of various chronic diseases, including cancer, diabetes & cardiovascular disorders, and rising healthcare expenditure. The American Cancer Society estimated that 1.9 million new cancer cases would be diagnosed and 609,360 cancer-related deaths in 2022 in the US. Similarly, according to the data published by World Health Organization (WHO), in 2020, 2,281,685 new cancer cases were registered in the US 2020. On the other hand, Canada accounted for 274,364 new cancer cases in 2020. Raman and NIR spectroscopy are widely used in Process Analytical Technology (PAT) applications as these techniques are non-destructive analytical techniques that are capable of analyzing materials in their current state without sample preparation (without dissolving the materials). Near-infrared spectroscopy has gained significant attention in the region as a simple, fast, portable, non-invasive, and inexpensive method for functional diagnosis and therapeutic monitoring of cancer diseases.
Europe
The increasing prevalence of chronic diseases, rising geriatric population, and NIR and Raman spectroscopy technological advancements drive NIR and Raman spectroscopy market growth. An article published by Population Reference Bureau (PRB) in 2019 stated that Asia and Europe are the home to the world’s oldest populations, aged 65 and above. Japan (28%) registered the highest geriatric population, followed by Italy (23%), Finland, Portugal & Greece (22%), and China (12%). In addition, the countries in the southern European region, including Croatia, Malta, Portugal, Greece, Italy, Slovenia, Serbia, and Spain, accounted for 21% of the population aged 65 and above.
NIR and Raman Spectroscopy Market Competitive Landscape
The structural composition and distribution of medicinal drugs are studied using spectroscopy. Near-infrared (NIR) and Raman Process Analytical Technology (PAT) provide numerous advantages to pharmaceutical firms. In the pharmaceutical industry, Raman PAT spectroscopy can be used for various tests, including verification of raw materials, monitoring counterfeit drugs, product shelf life, process monitoring of drug production, monitoring of quality control of products, and providing additional detail into a variety of issues. The NIR and Raman spectroscopy market is expanding due to increased healthcare focus on drug discovery, increasing acceptance of NIR and Raman PAT spectroscopy in clinical applications, and rising demand for cloud-based spectroscopy. Surgical operations are becoming more common worldwide as the prevalence and incidence of diseases like cancer, cardiovascular disease, neurovascular disease, and gastrointestinal disease rise
NIR and Raman Spectroscopy Market Key Players
The prominent players in the global NIR and Raman spectroscopy market are Thermo Fisher Scientific Inc. (US), Bruker (US), PerkinElmer Inc. (US), Agilent Technologies, Inc. (US), JASCO (Spain), Shimadzu Corporation (Japan), Danaher (US), Merck KGaA (Germany), ABB (Sweden), and Horiba, ltd (Japan).
NIR and Raman Spectroscopy Market Recent Developments
NIR and Raman Spectroscopy Market Report Overview
The study covers the existing short-term and long-term market effects, helping decision-makers draft short-term and long-term plans for businesses by region. The report covers major regions of North America, Europe, Asia-Pacific, and Rest of the World. The report analyzes NIR and Raman spectroscopy market drivers, restraints, opportunities, Value Chain Analysis, Porter's Five Forces, and COVID-19 Impact.
| Report Attribute/Metric | Details |
| Market Size | 2032: USD 3.93 Billion |
| CAGR | 11.7 % |
| Base Year | 2021 |
| Forecast Period | 2023-2032 |
| Historical Data | 2018 to 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World |
| Key Vendors | Thermo Fisher Scientific Inc. (US), Bruker (US), PerkinElmer Inc. (US), Agilent Technologies, Inc. (US), JASCO (Spain), Shimadzu Corporation (Japan), Danaher (US), Merck KGaA (Germany), ABB (Sweden), and Horiba, ltd (Japan) |
| Key Market Opportunities | Rising demand for cloud-based spectroscopy |
| Key Market Drivers | Increasing prevalence of chronic diseases Growing demand for Process Analytical Technology (PAT) Tools Technological advancements in NIR and Raman Spectroscopy |
NIR Raman Spectroscopy Market Highlights:
Frequently Asked Questions (FAQ) :
The NIR and Raman spectroscopy market is projected to reach USD 3.93 Billion at CAGR of 11.7% during the forecast period of 2023 to 2032.
Thermo Fisher Scientific Inc. (US), Bruker (US), PerkinElmer Inc. (US), Agilent Technologies, Inc. (US), JASCO (Spain), Shimadzu Corporation (Japan), Danaher (US), Merck KGaA (Germany), ABB (Sweden), and Horiba, ltd (Japan) are the key players in the market of NIR and Raman Spectroscopy
North America is predicted to lead the market of NIR and Raman Spectroscopy.
Increasing prevalence of chronic diseases and Growing demand for Process Analytical Technology (PAT) Tools are the major market driver of NIR and Raman Spectroscopy
Shortage of skilled and experienced professionals may limit the market growth of NIR and Raman Spectroscopy.
Research Analyst Level I He is an extremely curious individual currently working in healthcare and medical devices domain. kinjoll is comfortably versed in data centric research backed by healthcare educational background. he leverages extensive data mining and analytics tools such as primary and secondary research, statistical analysis, machine learning, data modelling. his key role also involves technical sales support, client interaction and project management within the healthcare team. lastly, he showcases extensive affinity towards learning new skills and remain fascinated in implementing them.
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