IR Spectroscopy Market size worth $ 1.5 Billion, Globally, by 2028 at 5.5% CAGR: Verified Market Research®

JERSEY CITY, NJ, Feb. 1, 2022 /PRNewswire/ — Verified Market Research recently published a report, “IR Spectroscopy MarketBy Technology (Near Infrared, Mid Infrared, Far Infrared), By Product Type (Benchtop Spectroscope, Micro Spectroscope), By End User (Healthcare And Pharmaceuticals, Chemicals, Biological Research), and By Geography. According to Verified Market Research, the Global IR Spectroscopy Market size was valued at USD 1.0 Billion in 2020 and is projected to reach USD 1.5 Billion by 2028, growing at a CAGR of 5.5% from 2021 to 2028.

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Browse in-depth TOC onIR Spectroscopy Market

202 – Pages
126 – Tables
37 – Figures

Global IR Spectroscopy Market Overview

The IR Spectroscopy Market is driven by increasing demand from the healthcare and pharmaceutical industry. IR Spectroscopy has several applications in the pharmaceutical industry. It is used in the process of drug discovery. Various qualitative and quantitative analyzes of drug products are also outlined. It is used for the detection of harmful chemical compounds that may be found in counterfeit opioids and other pharmaceutical drugs. Since infrared spectroscopy serves as a powerful investigative tool for understanding the molecular landscape and chemical pathologies of various clinical diseases, it may allow future biomarker discovery and the development of novel therapeutic strategies. At present, Infrared spectroscopy is currently one of the most widely used spectroscopy techniques in the food industry.

The chemical composition of fruits, vegetables, and meat is subject to inherent variations that cannot be detected by color, shape, touch, and smell. IR Spectroscopy technology can identify and distinguish products based on their chemical composition. Hence, it is used for the processing of both plant and animal foods in the selection of raw materials to process control, ensure quality standards, and prevent adulteration. In animal products, IR Spectroscopy can estimate fats, proteins, carbohydrates, and water content in animal samples. IR Spectroscopy finds application in food processing, fruit processing, oil production, and milk and cheese production, meat products, among others. Growing consumer interest in food quality and production has increased, mainly due to changes in eating habits.

The demand for high quality and safety in food production calls for high standards for quality and process control, which in turn requires appropriate analytical tools to investigate food, thus creating a demand for IR Spectroscopy. In North America and Europe, research related to drug discovery is ongoing. Thus, demand for IR Spectroscopy is expected to increase in these regions. The United States is the largest pharmaceutical market globally, thus several drugs are manufactured in the country, creating demand for IR Spectroscopy.

Key Developments

  • In January 2019, Agilent Technologies Inc. launched the Cary 3500 UV-Vis system, an innovative spectrometer designed to aid the Life Science, Pharma, and Biopharma research communities. This advancement helped the company streamline its analyses, increase laboratory productivity, and ultimately aid in the faster creation of new treatments.
  • In December 2018, Brucker Corporation and Mestrelab Research SL formed a partnership to handle spectroscopic data and manage chemical information using advanced chemistry software for a variety of analytical technologies.

Key Players

The major players in the market are Bruker Corporation, Agilent Technologies, Shimadzu Corporation, Perkin Elmer, Thermo Fisher Scientific, FOSS, HORIBA Ltd, Teledyne Princeton Instruments, JASCO Inc, and BaySpec.

Verified Market Research has segmented the Global IR Spectroscopy Market on the basis of Technology, Product Type, End User, and Geography.

  • IR Spectroscopy Market, By Technology
    • Near Infrared
    • Mid Infrared
    • Far Infrared
  • IR Spectroscopy Market, By Product Type
    • Benchtop Spectroscope
    • Micro Spectroscope
    • Portable Spectroscope
    • Hyphenated Spectroscope
  • IR Spectroscopy Market, By End User
    • Healthcare and Pharmaceuticals
    • Chemicals
    • Biological Research
    • Environmental
    • Consumer Electronics
    • Food and Beverages
  • IR Spectroscopy Market by Geography
    • North America
    • Europe
      • Germany
      • France
      • UK
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • RO
      • Middle East & Africa
      • Latin America

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