IR Spectroscopy Market Growth, Future Scope, Challenges, Opportunities 2027

 Market Analysis 

The global IR spectroscopy market will touch USD 1,548.9 million at a favorable 6.53% CAGR by 2027, states the new Market Research Future (MRFR) report.

Drivers 

Demand for Near-Infrared Spectroscopy to Boost Market Growth 

The increasing demand for near-infrared spectroscopy for food fingerprinting techniques will boost IR Spectroscopy Market Opportunity over the forecast period. 

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Opportunities 

Increasing Adoption in Biological Sector to offer Robust Opportunities 

The increasing adoption of IR spectroscopy in the biological sector for detecting various diseases will offer robust opportunities for the IR spectroscopy market over the forecast period. 

Restraints 

Availability of Used IR Spectroscopy Devices to act as Market Restraint 

The availability of used IR spectroscopy devices and rise in technical limitations of IR spectroscopy may act as market restraints in the forecast period. 

Challenges 

High Cost to act as Market Challenge 

The high cost of IR spectroscopy products may act as market challenge over the forecast period. 

Market Segmentation 

The global IR spectroscopy market is bifurcated based on vertical, product type, and technology. 

By technology, the mid-infrared spectroscopy segment will lead the market over the forecast period. 

By product type, the benchtop segment will dominate the market over the forecast period. 

By vertical, the healthcare segment will spearhead the market over the forecast period. 

COVID-19 Analysis 

The COVID-19 crisis led to drastically reduced need for different services and solutions across the healthcare domain. Besides, production facilities have been shut in different countries to prevent transmissions of the mutating virus. The crisis however led to a rise in manufacturing of medical products and pharmaceuticals. This has increased the need for IR spectroscopy in the pharmaceutical and healthcare end-use industry resulting to surged need for IR spectroscopy solutions and products. 

Regional Analysis 

North America to Sway IR Spectroscopy Market 

North America will sway IR spectroscopy market over the forecast period. The presence of high-tech technology, developed infrastructure, rapid development, uptake of technology and large research industry in the US, increased investments in R&D activities being carried out in the healthcare and pharmaceuticals industry, increasing use of IR spectroscopy products and solutions in the food and beverages industry to detect the presence of foreign particles in food items & beverages, and the increasing investments in R&D in life sciences are adding to the global IR spectroscopy market growth in the region. 

Key Players 

Eminent industry players profiled in the global IR spectroscopy market report include 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. 

The global IR spectroscopy market is both fragmented and also competitive for the presence of different international & domestic key players. These players have incorporated innovative strategies to remain at the vanguard and also suffice the burgeoning demand of the customers including collaborations, contracts, partnerships, joint ventures, geographic expansions, new product launches and more. Besides, they are also investing in various research and development activities.

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About Us:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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