Spectroscopy Market Analysis By Technology(Nuclear Magnetic Resonance (NMR) Spectroscopy, UV- visible spectroscopy, Infrared (IR) Spectroscopy, Color Measurement Spectroscopy, Raman Spectroscopy) By Component(Hardware, Software) By Application(Pharmaceutical Application, Biotechnology & Biopharmaceutical Application, Food & Beverage Testing, Environment Testing, Academic Research) By End User(Government & Academic Institutions, Pharmaceutical & Biotechnology Companies) & Forecast By 2030
- PUBLISHED ON
- 2024-07-11
- NO OF PAGES
- 256
- CATEGORY
- Healthcare & Life Sciences
Market Overview
Spectroscopy is the area of science which includes the study of samples with electromagnetic radiation with the basis of light with better adjustments in wavelength and rate for the study of the sample involved and other methods involved for the study of the structure and properties included in the structure.
The eruption of the pandemic situation with the wide spread of the coronavirus decreased demands from the market for examination purpose and decrease the market of spectroscopy market.
Technology Insights
On the basis of technology, the spectroscopy method with the maximum market share in Raman spectroscopy with recently developed technologies with rising instruments needed in the spectroscopy with wide growths in Raman spectroscopy.
Component Insights
On the basis of the component, the hardware segment involved in spectroscopy accounts for the highest market growth in the spectroscopy market which leads the market of spectroscopy owing to the increased market of spectroscopy with improved revenue share during the forecasted period.
Software services involved in spectroscopy technology also with maximum market growth and a growing number of instruments such as probes, detectors, exciting sources. Which helps to boost the market of spectroscopy.
Application Insights
On the basis of the application, the pharmaceutical segment accounts for the maximum growth of the spectroscopy technique with improved utilization for testing purposes and locating the elements in the sample with the interface of magnetic radiation in spectroscopy.
Food and agriculture and wastewater treatment also lead the market of spectroscopy with remarkable growth in the spectroscopy and improve market growth during the forecasted period and decreased the effect of wastewater on the environment. Upsurge detection of impurity, purity, and tracing of the material included in the sample with the help of spectroscopy method.
Region Insights
North America is projected to dominate the market of spectroscopy in the projected period. The substantial rise of spectroscopy with growing market revenue share. More utilization of the spectroscopy market in many industries due to improved efficiency of the spectroscopy technique for discovery of the sample with electromagnetic radiations. Higher infrastructure development is necessary for research and development in spectroscopy.
Moreover, an upsurge in R&D activities by major players for new diseases is credited to the significant share of the region. Players such as Agilent Technologies, Inc., are constantly involved in extensive research and development to grow new resins for the isolation and purification of vaccines.
Asia Pacific region is anticipated to witness the fastest growth rate in the market due to the existence of a robust research base for new drug development.
Key Companies Insights
spectroscopy is moderately competitive. With the rising applications of spectroscopy, new players are considering to enter the market. The companies are also involved in activities like mergers, acquisitions, partnerships, joint ventures, and collaborations. These activities aid in growing the effect of the players in the spectroscopy market, ultimately boosting the market growth.
• Thermo Fisher Scientific, Inc.
• PerkinElmer, Inc.
• Agilent Technologies
• Kaiser Optical System
• Waters Corporation
• Shimadzu Corporation
• Bruker Corporation
• JEOL Ltd.
• FLIR Systems, Inc.
• Endress+Hauser Group
• MKS Instruments, Inc.
• Sartorius AG
• Danaher
• Horiba Ltd.
• Kore Technology
• Kett Electric Laboratory
• Other players
Some of the Recent Developments
• In December 2020, Agilent Technologies Inc. launched a latest 7850 ICP-MS mass spectrometry instrument. The new ICP-MS instrument has a different smart software feature that will upsurge the capability of the ICP-MS laboratory.
• In 2016, Thermo Fisher Scientific acquired Affymetrix, Inc. With the improved competency of the company in the growth of biosciences examination and genetic analysis.
Segments
• Nuclear Magnetic Resonance (NMR) Spectroscopy
o Continuous-wave (CW) NMR Spectroscopy
o Fourier-transform NMR Spectroscopy
o Solid-state NMR Spectroscopy(SSNMR)
• UV- visible spectroscopy
o Single-beam UV-visible spectroscopy
o Dual-beam UV-visible spectroscopy
o Array-based UV-visible spectroscopy
• Infrared (IR) Spectroscopy
o Mid-wave infrared spectroscopy
o Short-wave infrared spectroscopy
o Far-wave infrared spectroscopy
• Color Measurement Spectroscopy
• Raman Spectroscopy
o Micro-Raman Spectroscopy
o Probe-based Raman Spectroscopy
o FT- Raman Spectroscopy
• Other Spectroscopy
By Component
• Hardware
• Software
By Application
• Pharmaceutical Application
• Biotechnology & Biopharmaceutical Application
• Food & Beverage Testing
• Environment Testing
• Academic Research
• Other Applications
By End User
• Government & Academic Institutions
• Pharmaceutical & Biotechnology Companies
• Others
By Geography
• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
• Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
• Latin America
o Brazil
o Argentina
o Colombia
• MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt
Quality Assurance Process
- We Market Research’s Quality Assurance program strives to deliver superior value to our clients.
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
- Project kickoff meeting with client
- Conduct frequent client communications
- Form project steering committee
- Assign a senior SR executive as QA Executive
- Conduct internal editorial & quality reviews of project deliverables
- Certify project staff in SR methodologies & standards
- Monitor client satisfaction
- Monitor realized value post-project
Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size and growth projections?
The global spectroscopy market size was valued at USD 15.0 billion in 2021 and is projected to reach around USD 28.5 billion in 2030 exhibiting a CAGR of 7.5% in the forecasted period.
Who are the key competitors of market Players?
Some of the major players operating within the market are Thermo Fisher Scientific, Inc., PerkinElmer, Inc., Agilent Technologies, Kaiser Optical System, Waters Corporation, Shimadzu Corporation, Bruker Corporation, JEOL Ltd., FLIR Systems, Inc., Endress+Hauser Group, MKS Instruments, Inc., Sartorius AG, Danaher, Horiba Ltd., Kore Technology, Kett Electric Laboratory.
What are the top performing segments, and countries / regions of each of the markets?
North America is projected to dominate the market of spectroscopy in the projected period. Asia Pacific region is anticipated to witness the fastest growth rate in the market due to the existence of a robust research base for new drug development. This is estimated to increase the acceptance of this technique in the area. Asian countries such as Japan, China, and India have considerably contributed to the market growth owing to the increase in the number of spectrometry service providers.
}})
Select a license type that suits your business needs
US $3499
Only Three Thousand Four Hundred Ninety Nine US dollar
- 1 User access
- 15% Additional Free Customization
- Free Unlimited post-sale support
- 100% Service Guarantee until achievement of ROI
US $4499
Only Four Thousand Four Hundred Ninety Nine US dollar
- 5 Users access
- 25% Additional Free Customization
- Access Report summaries for Free
- Guaranteed service
- Dedicated Account Manager
- Discount of 20% on next purchase
- Get personalized market brief from Lead Author
- Printing of Report permitted
- Discount of 20% on next purchase
- 100% Service Guarantee until achievement of ROI
US $5499
Only Five Thousand Four Hundred Ninety Nine US dollar
- Unlimited User Access
- 30% Additional Free Customization
- Exclusive Previews to latest or upcoming reports
- Discount of 30% on next purchase
- 100% Service Guarantee until achievement of ROI