SNS Insider Black Friday Offer
IR Spectroscopy Market

IR Spectroscopy Market Size, Share & Segment By Product Type (Benchtop Spectroscopes, Portable Spectroscopes, Micro Spectroscopes, Hyphenated Spectroscopes) By Technology (Near-Infrared, Mid-Infrared, Far-Infrared) By End User (Healthcare & Pharmaceuticals, Biological Research, Consumer Electronics, Chemicals, Environmental, Food & Beverages), By Regions And Global Forecast 2022-2028

Report Id: SNS/SEMI/2396 | July 2022 | Region: Global | 131 Pages

Report Scope & Overview:

IR Spectroscopy Market Size was valued at USD 1.1 billion in 2021, and is expected to reach USD 1.5 billion by 2028, and grow at a CAGR of 4.2% over the forecast period 2022-2028.

Infrared spectroscopy (IR spectroscopy) is a spectroscopy technique that deals with the infrared portion of the electromagnetic spectrum. The method is used to detect, elucidate the structure of, and qualify elements in any sample, whether solid, liquid, or gas. It analyses the various features and molecules to produce results. This is most commonly found in the food industry. This technology is used by scientists for nanoscale semiconductor analysis, protein characterization, and space exploration. It has numerous benefits, including fast scanning, high resolution, and high sensitivity. It can also be used for substance identification, molecular structure determination, impurity detection, and functional group identification.

IR Spectroscopy Market Revenue Graph

MARKET DYNAMICS:

KEY DRIVERS:

  • Ongoing technological advancements in IR spectroscopy.

  • Increased R&D investment in the healthcare and pharmaceutical industries.

RESTRAINTS:

  • Used infrared spectroscopy instruments are available.

  • The technical limitations of IR spectroscopy.

OPPORTUNITIES:

  • Product development for biological research is expanding.

  • NIR spectroscopy is being used to detect seed quality.

CHALLENGES: 

  • IR spectroscopy products are expensive.

  • Other alternative technologies

IMPACT OF COVID-19: 

In healthcare and pharmaceuticals, biological research, and food and beverage end-user industries, IR spectroscopy is widely used for testing applications. In these industries, stringent government regulations and increased demand for quality maintenance drive the adoption of IR spectroscopy. However, the outbreak and spread of the COVID-19 have resulted in a drop in demand for a number of products. Furthermore, manufacturing plants in several countries have been shut down to prevent the virus from spreading. The spread of COVID-19 prompted an increase in the production of pharmaceuticals and other medical equipment. This has resulted in a surge in demand for IR spectroscopy products and solutions in the healthcare and pharmaceutical end-use industries.

Based on product type, the IR spectroscopy market is segmented into Benchtop Spectroscopes, Portable Spectroscopes, Micro Spectroscopes and Hyphenated Spectroscopes. Benchtop spectrometers are instruments that use nuclear magnetic resonance to determine the physical and chemical properties of samples' atomic/molecular structures. With a single set of diagnostic tests, nuclear magnetic resonance can determine the entire structure of organic compounds. Once the basic structure of a sample is identified, its physical properties and molecular conformation, including solubility, can be determined. Many nuclei have an accurate spin rate. They are all charged electrically. When a magnetic field is applied to a fixed nucleus, energy transfer can occur at a wavelength that corresponds to a particular radio frequency. When the field is removed, the energy at the same frequency is released. The signal associated with this transfer is analysed and processed to produce a nuclear magnetic resonance (NMR) spectrum. The magnetic field directed at the nucleus identifies the seized resonant frequency. This field is influenced by electrons, which are in turn influenced by their chemical surroundings. Following that, using a resonant frequency, data on the tested chemical environments of the nucleus can be determined.

Based on end user, the IR spectroscopy market is segmented into Healthcare & pharmaceuticals, Biological Research, Consumer Electronics, Chemicals, Environmental and Food & Beverages. Proteomics and genomics advancements in biological research have increased demand for IR spectroscopy products and solutions. IR spectroscopy is used to detect photon level absorption in a molecule. It is also used to analyse fingerprints. The use of infrared spectroscopy to detect the movements of various organisms in the human body is widespread. These factors are fueling demand for IR spectroscopy products and solutions for biological research.

COMPETITIVE LANDSCAPE:

The key players in the IR spectroscopy market are Thermo Fisher Scientific, PerkinElmer, Shimadzu Corporation, Bruker Corporation, Jasco, Oxford Instruments, Teledyne Princeton Instruments, Agilent Technologies, Horiba Limited, Metrohm, Hitachi High-Technologies Corporation, Newport Corporation and Sartorius.

MARKET SEGMENTATION:

BY PRODUCT TYPE

  • Benchtop Spectroscopes

  • Portable Spectroscopes

  • Micro Spectroscopes

  • Hyphenated Spectroscopes

BY TECHNOLOGY

  • Near-infrared

  • Mid-infrared

  • Far-infrared

BY END USER

  • Healthcare & pharmaceuticals

  • Biological Research

  • Consumer Electronics

  • Chemicals

  • Environmental

  • Food & Beverages

IR Spectroscopy Market Segment Pie Chart

REGIONAL ANALYSIS:

North America has the largest share of the IR spectroscopy market and is expected to grow significantly during the forecast period. Due to the presence of high-tech technology and developed infrastructure, a variety of factors are driving the growth of the IR spectroscopy market in the North American region. Furthermore, the rapid development and adoption of technology, as well as the large research industry in the United States, fuel the growth of the regional market.

During the forecast period, Asia-Pacific is expected to be the fastest-growing region for the IR spectroscopy market. In the Asia-Pacific IR spectroscopy market, Japan and China are the leading revenue generators. During the forecast period, the region's pharmaceutical and food and beverage industries are expected to drive regional market growth.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

 

IR Spectroscopy Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 1.1 Billion
Market Size by 2028 US$ 1.5 Billion
CAGR CAGR of 4.2% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Product Type (Benchtop Spectroscopes, Portable Spectroscopes, Micro Spectroscopes, Hyphenated Spectroscopes)
• By Technology (Near-Infrared, Mid-Infrared, Far-Infrared)
• By End User (Healthcare & Pharmaceuticals, Biological Research, Consumer Electronics, Chemicals, Environmental, Food & Beverages)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Thermo Fisher Scientific, PerkinElmer, Shimadzu Corporation, Bruker Corporation, Jasco, Oxford Instruments, Teledyne Princeton Instruments, Agilent Technologies, Horiba Limited, Metrohm, Hitachi High-Technologies Corporation, Newport Corporation and Sartorius.
Key Drivers • Ongoing technological advancements in IR spectroscopy.
• Increased R&D investment in the healthcare and pharmaceutical industries.
RESTRAINTS • Used infrared spectroscopy instruments are available.
• The technical limitations of IR spectroscopy.


Frequently Asked Questions (FAQ) :

The market value is expected to reach USD 1.5 billion by 2028.

The key players in the IR spectroscopy market are Thermo Fisher Scientific, PerkinElmer, Shimadzu Corporation, Bruker Corporation, Jasco, Oxford Instruments, Teledyne Princeton Instruments, Agilent Technologies, Horiba Limited, Metrohm, Hitachi High-Technologies Corporation, Newport Corporation and Sartorius.

Ongoing technological advancements in IR spectroscopy and Increased R&D investment in the healthcare and pharmaceutical industries.

Yes, and they are Raw material vendors, Distributors/traders/wholesalers/suppliers, Regulatory authorities, including government agencies and NGO, Commercial research & development (R&D) institutions, Importers and exporters, Government organizations, research organizations, and consulting firms, Trade/Industrial associations, End-use industries.

Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of Ukraine-Russia War

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

  

8. IR Spectroscopy Market Segmentation, by product type

8.1Introduction

8.2 Benchtop Spectroscopes

8.3 Portable Spectroscopes

8.4 Micro Spectroscopes

8.5 Hyphenated Spectroscopes

 

9. IR Spectroscopy Market Segmentation, by technology

9.1Introduction

9.2 Near-infrared

9.3 Mid-infrared

9.4 Far-infrared

 

10. IR Spectroscopy Market Segmentation, by end user

10.1 Introduction

10.2 Healthcare & pharmaceuticals

10.3 Biological Research

10.4 Consumer Electronics

10.5 Chemicals

10.6 Environmental

10.7 Food & Beverages

 

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2 Canada

11.2.3 Mexico

11.3 Europe

11.3.1 Germany

11.3.2 UK

11.3.3 France

11.3.4 Italy

11.3.5 Spain

11.3.6 The Netherlands

11.3.7 Rest of Europe

11.4 Asia-Pacific

11.4.1 Japan

11.4.2 South Korea

11.4.3 China

11.4.4 India

11.4.5 Australia

11.4.6 Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1 Israel

11.5.2 UAE

11.5.3 South Africa

11.5.4 Rest

11.6 Latin America

11.6.1 Brazil

11.6.2 Argentina

11.6.3 Rest of Latin America

 

12.Company Profiles

12.1 STMicroelectronics

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 Thermo Fisher Scientific

12.3 PerkinElmer

12.4 Shimadzu Corporation

12.5 Bruker Corporation

12.6 Jasco

12.7 Oxford Instruments

12.8 Teledyne Princeton Instruments

12.9 Agilent Technologies

12.10 Horiba Limited

12.11 Metrohm

12.12 Hitachi High-Technologies Corporation

12.13 Newport Corporation

12.14 Sartorius

 

13.Competitive Landscape

13.1 Competitive Benchmark

13.2 Market Share analysis

13.3 Recent Developments

 

14.Conclusion

 

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.

The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.

Step 4: QA/QC Process

After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.

Step 5: Final QC/QA Process:

This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.