IR Spectroscopy Market

IR Spectroscopy Market by Technology (FTIR, Dispersive IR), Type (Near-infrared Spectroscopy, Mid-infrared Spectroscopy), Product Type (Benchtop Spectroscopes), End-user Industry (Healthcare & Pharmaceutical, Chemicals) - Global Forecast to 2029

Report Code: SE 4513 Mar, 2024, by marketsandmarkets.com

[240 Pages Report] The global IR spectroscopy market was valued at USD 1.2 billion in 2024 and is projected to reach USD 1.6 billion by 2029; it is expected to register a CAGR of 6.5% during the forecast period. Growth in the number of healthcare institutions and clinical research centers, continuous technological advancements in IR spectroscopy are among the factors driving the growth of the IR spectroscopy market.

IR Spectroscopy Market

IR Spectroscopy Market

IR Spectroscopy Market Forecast to 2029

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Market Dynamics:

Driver: Growth in the number of healthcare institutions and clinical research centers

The growing number of healthcare institutions and clinical research centers is driving the growth of IR spectroscopy due to the increasing demand for advanced analytical techniques in the field of medicine and biomedical research. IR spectroscopy is a powerful tool for understanding the molecular landscape and chemical pathologies of various biological systems, making it a valuable asset in the diagnosis, treatment, and prevention of diseases.

As healthcare institutions and clinical research centers continue to expand, there is an increasing need for accurate and reliable analytical methods to study the complex molecular interactions that occur in biological systems. IR spectroscopy provides a non-destructive, non-invasive, and fast method for analyzing the vibrational modes of molecules, which can reveal valuable information about their structure, function, and interactions with other molecules.

Moreover, healthcare facilities translate to a larger patient pool, leading to a higher demand for efficient and accurate diagnostic tools. IR spectroscopy offers a fast, non-invasive, and reliable approach for analyzing various samples, including tissues, blood, and breath. Clinical research centers constantly seek innovative techniques to improve disease detection and monitoring. IR spectroscopy's ability to identify unique molecular fingerprints of different diseases makes it a valuable tool in their arsenal. Also, Advancements in portable and miniaturized IR spectrometers further contribute to the technology's adoption in point-of-care settings within healthcare institutions, enabling faster and more efficient analysis.

Restraint: Technical limitations of IR spectroscopy

IR spectroscopy has some technical limitations, forcing end users to shift to competitive products such as Raman or fluorescence spectroscopy. While IR spectroscopy has various applications and advantages, it also faces certain technical limitations that can act as restraints in certain situations. Here are some of the technical limitations of IR spectroscopy:

  • Limited Sensitivity for Dilute Samples: IR spectroscopy may lack sensitivity, especially when dealing with dilute samples. This can be a limitation when analyzing trace amounts of a substance in a complex matrix.
  • Water Absorption: Water molecules strongly absorb in the infrared region, particularly in the range of 1600-1800 cm^-1. This can be a challenge when analyzing samples containing water or in humid environments, as the water bands may overlap with the analyte's signals.
  • Sample State and Preparation: The state of the sample (solid, liquid, or gas) can affect the quality of the IR spectrum. Solid samples may require grinding with a suitable matrix, and liquids may need proper handling to obtain reliable results.
  • Instrumentation Constraints: The resolution and accuracy of IR instruments can impact the ability to resolve closely spaced peaks and accurately identify functional groups. Higher resolution instruments are typically more expensive and may require specialized expertise for operation.
  • Furthermore, the identification of molecular structure in an aqueous and complex solution can be difficult with IR spectroscopy, due to which end users may opt for other competitive products for analysis. Sometimes, wavelengths of certain bandwidths are not detectable in IR spectrographic products, primarily due to specification adjustment. Such technical limitations hamper spectrographic products. Product testing using IR spectroscopy is time-consuming; hence, it becomes difficult to implement the latest technological trends in the products. The shift toward competitive products is expected to affect the IR spectroscopy market growth.

Opportunity: Rising use of NIR spectroscopy in seed quality detection

Seeds are the most basic and vital agricultural capital goods, and the quality of seeds is essential for agricultural production. Traditional nucleic acid-based and immunodiagnostic methods used for detecting seed quality are destructive, slow, and need pre-treatment. Near-Infrared (NIR) spectroscopy is known for its ability to analyze multiple components of seeds simultaneously quickly and non-destructively, such as moisture content, oil content, protein content, and more. The increased demand for seed quality assessment using spectroscopic techniques stimulates research and development in the field. Innovations and technological advancements driven by the adoption of NIR spectroscopy can lead to the development of more advanced IR spectroscopy methods, sensors, and devices, creating a positive feedback loop of improvement.

This technology allows for the selection and classification of seeds based on specific traits without altering them, opening up new avenues for quality evaluation. Additionally, NIR spectroscopy technology has been applied in testing seed constituents, vigor, disease, insect pests, moisture, starch, and more, showcasing its versatility and importance in seed quality analysis.

Challenge: High Cost of IR spectroscopy products

The high cost of infrared (IR) spectroscopy devices presents a significant challenge for the IR spectroscopy market. These sophisticated instruments are essential for various applications, including chemical analysis, environmental monitoring, and material characterization. However, the prohibitive expense associated with acquiring and maintaining high-quality IR spectroscopy equipment creates several obstacles for both researchers and industries.

Firstly, the substantial initial investment required to purchase advanced IR spectroscopy devices poses a financial barrier, especially for smaller research institutions, laboratories, and emerging businesses. This limits access to cutting-edge technology, hindering scientific advancements and innovation in fields that heavily rely on spectroscopic analysis.

The high cost of IR spectroscopy devices also affects market competitiveness. Industries seeking to adopt these technologies for quality control, process monitoring, or product development may face challenges in justifying the return on investment, particularly when cost-effective alternatives or competing technologies are available. This can slow down the adoption rate of IR spectroscopy in various sectors, limiting its market expansion and potential for widespread application.

IR spectroscopy market Ecosystem

Prominent companies in this market include well-established, financially stable providers of IR spectroscopy systems. These companies have been operating in the market for several years and possess a diversified product portfolio, state-of-the-art technologies, and strong global sales and marketing networks. Prominent companies in this market include Shimadzu Corporation (Japan); ZEISS (Germany); PerkinElmer Inc. (US); Agilent Technologies, Inc. (US); Bruker Corporation (US); ABB (Switzerland); Thermo Fisher Scientific Inc. (US); Horiba, Ltd. (Japan); Sartorius AG (Germany); Hitachi High-Tech Corporation (Japan).

IR Spectroscopy Market by Ecosystem

By product type, portable spectroscopes is expected to grow with the highest CAGR from 2024 to 2029.

The market for portable spectroscopes is expected to grow at a CAGR of 8.9% during the forecast period. Portable spectrometers are designed to be lightweight and compact. This makes them ideal for field work, allowing researchers and professionals to take the analytical power of IR spectroscopy directly to where the samples are located. This is useful in applications like environmental monitoring, on-site material identification, or even medical analysis in remote locations. Portable spectrometers offer the advantage of mobility, allowing analysis to be performed in situ, in the field, or at point-of-care locations. This accessibility reduces the need for sample transportation and enables real-time or on-site analysis, which is particularly advantageous in applications such as environmental monitoring, food safety, pharmaceuticals, and forensic analysis

By end-user industry, biomedical research and biomaterials segment is expected to grow with the highest CAGR in 2029.

The biomedical research and biomaterials segment is expected to grow at a CAGR of 8.5% during the forecast period. IR light interacts with specific bonds within molecules, causing vibrations. These vibrations produce a unique spectrum, like a fingerprint, that identifies the functional groups present in a sample. This allows researchers to identify and characterize biological molecules, tissues, and biomaterials. In biomaterials research, IR spectroscopy can be used to assess the biocompatibility of a material, study its interaction with cells and tissues, and monitor its degradation over time.

By type, the Far-infrared Spectroscopy segment is expected to grow with the highest CAGR from 2024 to 2029.

The Far-infrared Spectroscopy segment is expected to witness the highest CAGR of 9.5% during the forecast period. Far infrared spectroscopy enables non-destructive and non-invasive analysis of samples. This is especially valuable in fields such as pharmaceuticals, where it is essential to analyze materials without altering their properties. It allows researchers to study samples in their native state without the need for extensive sample preparation. Far infrared spectroscopy is finding new and emerging applications in areas such as biomedical imaging, security screening, environmental monitoring, and telecommunications. These expanding application areas contribute to the growing demand for far infrared spectroscopy techniques and drive further research and development in the field.

In 2029, North America is projected to hold the highest CAGR of the overall IR spectroscopy market.

IR Spectroscopy Market by Region

IR Spectroscopy Market by Region

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In 2029, The IR spectroscopy market in North America is expected to grow at the highest CAGR. The North American IR spectroscopy market is experiencing significant growth due to strong demand for infrared spectroscopy products for healthcare & pharmaceuticals, chemicals, and Food & Beverages. Several companies offering infrared spectroscopy products, including PerkinElmer Inc. (US); Agilent Technologies, Inc. (US); Bruker Corporation (US); Thermo Fisher Scientific Inc. (US); have a presence in this region, which further adds to the growth of the infrared spectroscopy market in North America.

Key Market Players

Shimadzu Corporation (Japan); ZEISS (Germany); PerkinElmer Inc. (US); Agilent Technologies, Inc. (US); Bruker Corporation (US); ABB (Switzerland); Thermo Fisher Scientific Inc. (US); Horiba, Ltd. (Japan); Sartorius AG (Germany); Hitachi High-Tech Corporation (Japan) are some of the key players in the IR spectroscopy companies.

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Scope of the Report

Report Metric

Details

Market Size Availability for Years

2020–2029

Base Year

2023

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Segments Covered

By technology, type, product type, end-user industry, and region

Geographies Covered

North America, Europe, Asia Pacific, and RoW

Companies Covered

Shimadzu Corporation (Japan); ZEISS       (Germany); PerkinElmer Inc. (US); Agilent Technologies, Inc. (US); Bruker Corporation (US); ABB (Switzerland); Thermo Fisher Scientific Inc. (US); Horiba, Ltd. (Japan); Sartorius AG (Germany); Hitachi High-Tech Corporation (Japan) are some of the key players in the IR spectroscopy market.

IR Spectroscopy Market Highlights

This research report categorizes the IR spectroscopy market based technology, type, product type, end-user industry, and region.

Segment

Subsegment

By Technology

  • Introduction
  • Dispersive Infrared Spectroscopy
  • Fourier Transform Infrared (FT-IR) Spectroscopy

By Type

  • Introduction
  • Near-infrared Spectroscopy
  • Mid-infrared Spectroscopy
  • Far-infrared Spectroscopy

By Product Type

  • Introduction
  • Benchtop Spectroscopes
  • Micro Spectroscopes
  • Portable Spectroscopes
  • Hyphenated Spectroscopes

By End-user Industry

  • Introduction
  • Healthcare & Pharmaceuticals
  • Chemicals
  • Food & Beverages
  • Environmental
  • Biological Research
  • Consumer Electronics

By Region

  • Introduction
  • North America
    • Impact of Recession
    • US
    • Canada
    • Mexico
  • Europe
    • Impact of Recession
    • UK
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia Pacific
    • Impact of Recession
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • RoW
    • Impact of Recession
    • Middle East & Africa
      • GCC Countries
      • Rest of Middle East
    • South America

Recent Developments

  • In December 2023, Shimadzu Corporation launched IRseries products. They are equipped with an analysis navigation program enabling novice FTIR users to obtain data easily, and a function that judges the quality of the measurement results and proposes how to obtain favorable data.
  • In September 2023, Sartorius AG and Repligen Corporation jointly launched an integrated bioreactor system. The Biostat STR now contains a fully compatible embedded XCell ATF hardware and software module offering predefined advanced control recipes with integrated Process Analytical Technology (PAT).
  • In March 2023, Rapid Screening Research Center for Toxicology and Biomedicine (RSRCTB) at National Sun Yat-sen University (NSYSU) established the first Satellite Laboratory in Taiwan, utilizing various kinds of chemical analytical instruments manufactured by Shimadzu Corporation. The laboratory will expand the application of mass spectroscopy and Fourier transform infrared spectroscopy (FTIR).
  • In January 2023, launched AIMsight. It enhances defect analysis efficiency through automation. This innovation includes features such as faster search for measurement sites, contributing to addressing societal challenges like microplastics through contaminant analysis.
  • In October 2022, Agilent Technologies, Inc. launched Agilent 8700 LDIR (laser direct infrared), rapid analysis and user-friendly features to infrared spectroscopy, establishing itself as a leading method for microplastic particle analysis. The introduction of on-filter analysis represents a notable advancement in speed and throughput. Enhancing testing volumes will contribute to a better comprehension of microplastics contamination in the environment, supporting the formulation of relevant standards and regulations.

Frequently Asked Questions (FAQs):

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TABLE OF CONTENTS
 
1 Introduction 
    1.1. Study Objectives  
    1.2. Market Definition and Scope 
           1.2.1. Inclusions and Exclusions
    1.3. Study Scope 
           1.3.1. Markets Covered
           1.3.2. Geographic Segmentation
           1.3.3. Years Considered for the study
    1.4. Currency 
    1.5. Limitations 
    1.6. Stakeholders 
    1.7. Summary of Changes 
           1.7.1. Recession Impact on IR Spectroscopy Market
 
2 Research Methodology 
    2.1. Research Data 
           2.1.1. Secondary Data
                    2.1.1.1. Major Secondary Sources
                    2.1.1.2. Key Data from Secondary Sources
           2.1.2. Primary Data
                    2.1.2.1. Primary Interviews with Experts
                    2.1.2.2. Key Data from Primary Sources
                    2.1.2.3. Key Industry Insights
                    2.1.2.4. Breakdown of Primaries
    2.2. Market Size Estimation 
           2.2.1. Bottom-Up Approach 
                    2.2.1.1. Approach for Capturing Market Share by Bottom-Up Analysis (Demand Side)
           2.2.2.  Top-Down Approach
                    2.2.2.1. Approach for Capturing Market Share by Top-Down Analysis (Supply Side)
    2.3. Market Breakdown and Data Triangulation 
    2.4. Research Assumptions 
    2.5. Risk Assessment 
    2.6. Assumptions of Recession 
    2.7. Limitations of Research 
 
3 Executive Summary 
 
4 Premium Insights 
 
5 Market Overview 
    5.1. Introduction 
    5.2. Market Dynamics 
    5.3. Trends/Disruptions Impacting Customer’s Business 
    5.4. Pricing Analysis 
           5.4.1. Average Selling Price Trend of Key Players, By Product Type
           5.4.2. Average Selling Price Trend, By Region
    5.5. Value Chain Analysis 
    5.6. Ecosystem Analysis 
    5.7. Investment and Funding Scenario 
    5.8. Funding, By Application 
    5.9. Technology Analysis 
           5.9.1. Key Technology
                    5.9.1.1. Micro-FTIR spectroscopy
           5.9.2. Complementary Technologies
                    5.9.2.1. Raman Spectroscopy
                    5.9.2.2. Mass Spectrometry (MS) 
           5.9.3. Adjacent Technologies
                    5.9.3.1. Miniaturization and Portability
                    5.9.3.2. Data Analysis Software
    5.10. Patent Analysis 
    5.11. Trade Analysis 
    5.12. Key Conferences and Events (2024-2025) 
    5.13. Case Study Analysis 
    5.14. Regulatory Landscape 
           5.14.1. Regulatory Bodies, Government Agencies, and Other Organizations
    5.15. Porters Five Force Analysis 
           5.15.1. Threat from New Entrants
           5.15.2. Threat of Substitutes
           5.15.3. Bargaining Power of Suppliers
           5.15.4. Bargaining Power of Buyers
           5.15.5. Intensity of Competitive Rivalry
    5.16. Key Stakeholders and Buying Criteria 
           5.16.1. Key Stakeholders in Buying Process
           5.16.2. Buying Criteria
 
6 IR Spectroscopy Market, By Technology 
    6.1. Introduction 
    6.2. Dispersive Infrared Spectroscopy  
    6.3. Fourier Transform Infrared (FT-IR) Spectroscopy 
 
7 IR Spectroscopy Market, By Type 
    7.1. Introduction 
    7.2. Near-infrared Spectroscopy 
    7.3. Mid-infrared Spectroscopy 
    7.4. Far-infrared Spectroscopy 
 
8 IR Spectroscopy Market, By Product Type 
    8.1. Introduction 
    8.2. Benchtop Spectroscopes 
    8.3. Micro Spectroscopes 
    8.4. Portable Spectroscopes 
    8.5. Hyphenated Spectroscopes 
 
9 IR Spectroscopy Market, By End-user Industry 
    9.1. Introduction 
    9.2. Healthcare & Pharmaceuticals 
    9.3. Chemicals 
    9.4. Food & Beverages 
    9.5. Environmental 
    9.6. Biological Research 
    9.7. Consumer Electronics 
 
10 IR Spectroscopy Market, By Region  
     10.1. Introduction 
     10.2. North America 
             10.2.1. Impact of Recession
             10.2.2. US
             10.2.3. Canada
             10.2.4. Mexico
     10.3. Europe 
             10.3.1. Impact of Recession
             10.3.2. UK
             10.3.3. Germany
             10.3.4. France
             10.3.5. Italy
             10.3.6. Rest of Europe
     10.4. Asia Pacific 
             10.4.1. Impact of Recession
             10.4.2. China
             10.4.3. Japan
             10.4.4. India
             10.4.5. South Korea
             10.4.6. Rest of Asia Pacific
     10.5. RoW 
             10.5.1. Impact of Recession
             10.5.2. Middle East
                        10.5.2.1. GCC Countries
                        10.5.2.2. Rest of Middle East
             10.5.3. Africa
             10.5.4. South America
 
11 IR Spectroscopy Market, Competitive Landscape 
     11.1. Key Player Strategies/Right to Win 
     11.2. Revenue Analysis 
     11.3. Market Share Analysis 
     11.4. Company Valuation and Financial Metrics 
     11.5. Product/Brand Comparison 
     11.6. Company Evaluation Matrix: Key Players, 2023 
             11.6.1. Stars
             11.6.2. Emerging Leaders
             11.6.3. Pervasive Players
             11.6.4. Participants
             11.6.5. Company Footprint: Key Players, 2023
                        11.6.5.1. Company Footprint
                        11.6.5.2. Region Footprint
                        11.6.5.3. Technology Footprint
                        11.6.5.4. Product Type Footprint
                        11.6.5.5. End-user Industry Footprint
     11.7. Company Evaluation Matrix: Startups/SMEs, 2023 
             11.7.1. Progressive Companies
             11.7.2. Responsive Companies
             11.7.3. Dynamic Companies
             11.7.4. Starting Blocks
             11.7.5. Competitive Benchmarking: Startups/SMEs, 2023
                        11.7.5.1. Detailed List of Key Startups/SMEs
                        11.7.5.2. Competitive Benchmarking of Key Startups/SMEs
     11.8. Competitive Situation and Trends 
 
12 IR Spectroscopy Market, Company Profiles  
     12.1. Key Players 
             12.1.1. Shimadzu Corporation
             12.1.2. ZEISS
             12.1.3. PerkinElmer Inc
             12.1.4. ABB Ltd.
             12.1.5. Agilent Technologies, Inc.
             12.1.6. Bruker Corporation
             12.1.7. Horiba, Ltd. 
             12.1.8. Hitachi High-Tech India Private Limited 
             12.1.9. Thermo Fisher Scientific Inc.
             12.1.10. Sartorius AG
     12.2. Other Players 
             12.2.1. Oxford Instruments
             12.2.2. Jasco
             12.2.3. Teledyne Princeton instruments
             12.2.4. Foss
             12.2.5. Lumex Instruments
             12.2.6. Spectra Analysis Instruments, Inc.
             12.2.7. Galaxy Scientific
             12.2.8. Microptik
             12.2.9. Isben Photonics
             12.2.10. Bayspec
             12.2.11. Wasatch Photonics
             12.2.12. Bristol Instruments
             12.2.13. Cole-Parmer
             12.2.14. Sciex
             12.2.15. Brainbox Ltd.
 
13 Appendix 
     13.1. Discussion Guide 
     13.2. Knowledge Store: MarketsandMarkets’ Subscription Portal 
     13.3. Available Customizations 
     13.4. Related Reports 
     13.5. Author Details  
     Note*:  The list of companies may vary once the research work starts. The sub segment: MNM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) will be provided for the top five players involved in the IR Spectroscopy Market.   
       
 

The study involved four major activities in estimating the size of the IR spectroscopy market. Exhaustive secondary research has been carried out to collect information on the market, the peer markets, and the parent market. Both top-down and bottom-up approaches have been employed to estimate the total market size. Market breakdown and data triangulation methods have also been used to estimate the market for segments and subsegments.

Secondary Research

Revenues of companies offering IR spectroscopy systems have been obtained from the secondary data available through paid and unpaid sources. The revenues have also been derived by analyzing the product portfolio of key companies, and these companies have been rated according to the performance and quality of their products.

In the secondary research process, various sources have been referred to for identifying and collecting information for this study on the IR spectroscopy market. Secondary sources considered for this research study include government sources, corporate filings, and trade, business, and professional associations. Secondary data has been collected and analyzed to arrive at the overall market size, which has been further validated through primary research.    

Secondary research has been mainly used to obtain key information about the supply chain of IR spectroscopy systems to identify key players based on their products and prevailing industry trends in the IR spectroscopy market by technology, type, product type, end-user industry, and region. Secondary research also helped obtain market information- and technology-oriented key developments undertaken by market players to expand their presence and increase their market share.

Primary Research

Extensive primary research has been conducted after understanding and analyzing the current scenario of the IR spectroscopy market through secondary research. Several primary interviews have been conducted with the key opinion leaders from the demand and supply sides across four main regions—North America, Europe, Asia Pacific, and the Rest of Europe. Approximately 25% of the primary interviews were conducted with the demand-side respondents, while approximately 75% were conducted with the supply-side respondents. The primary data has been collected through questionnaires, emails, and telephone interviews.

After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primary. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report. The breakdown of primary respondents is as follows:

IR Spectroscopy Market
 Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The bottom-up procedure has been employed to arrive at the overall size of the IR spectroscopy market.

  • Identifying end-use industries wherein IR spectroscopy systems are deployed or are expected to use
  • Analyzing major providers of IR spectroscopy equipment’s and original equipment manufacturers (OEMs), as well as studying their portfolios and understanding different technologies used
  • Analyzing the average selling price of IR spectroscopy systems powered by different technologies
  • Arriving at the market estimates by analyzing the revenue of companies and then combining these figures to arrive at the market size
  • Studying various paid and unpaid sources, such as annual reports, press releases, white papers, and databases, to gather the required information
  • Tracking the ongoing developments and identifying the upcoming developments in the market that include investments, research and development activities, product launches, contracts, collaborations, and partnerships undertaken, and forecasting the market size based on these developments
  • Carrying out multiple discussions with key opinion leaders to understand the types of IR spectroscopy products, services, and software designed and developed, thereby analyzing the break-up of the scope of work carried out by the major companies in the IR spectroscopy market
  • Arriving at the market estimates by analyzing the revenue generated by key companies providing IR spectroscopy products on the basis of their locations (countries) and then combining the market size for each country to get the market estimate by region
  • Verifying and crosschecking the estimates at every level by discussing with key opinion leaders, including CXOs, directors, and operation managers, and then finally with the domain experts at MarketsandMarkets
  • Studying various paid and unpaid sources of information, such as annual reports, press releases, white papers, and databases

IR Spectroscopy Market
 Size, and Bottom-Up Approach

The top-down approach has been used to estimate and validate the total size of the IR spectroscopy market.

  • Focusing on top-line investments and expenditures being made in the ecosystems of various applications
  • Calculating the market size, considering revenues from major players through the cost of IR spectroscopy systems
  • Segmenting each application of the IR spectroscopy system in each region and deriving the global market size based on the region
  • Acquiring and analyzing information related to revenues generated by players through their crucial product offerings
  • Conducting multiple on-field discussions with key opinion leaders involved in developing various IR spectroscopy solutions
  • Estimating geographical splits by using secondary sources on the basis of various factors, such as the number of players in a specific country and region, types of IR spectroscopy products/solutions, and levels of services offered across several end-user industries

IR Spectroscopy Market
 Size, and Top-Down Approach

Data Triangulation

After arriving at the overall market size-using the market size estimation processes as explained above-the market has been split into several segments and subsegments. To complete the entire market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from the demand and supply sides in the IR spectroscopy market.

Market Definition

IR spectroscopes operate in the IR region of the electromagnetic spectrum used for the study and identification of chemical compounds in a sample, which can be either be in the gaseous, liquid, or solid form. In IR spectroscopy, IR light interacts with matter to identify the composition of the materials using three ways of measurement: reflection, emission, and absorption, for quality control and other applications. IR spectroscopy is used in various verticals, such as biological research, healthcare & pharmaceuticals, and food & beverages, to study and check the quality of materials produced during the manufacturing process. The instruments used for IR spectroscopy include IR spectrometers or spectrophotometers. IR spectroscopy works in the IR spectrum, which can be further divided into near-infrared (NIR), mid-infrared (MIR), and far-infrared (FIR).

Key Stakeholders

  • Raw material and manufacturing equipment suppliers
  • Semiconductor wafer vendors
  • Original equipment manufacturers (OEMs)
  • Original design manufacturers (ODMs) and OEM technology solution providers
  • Networking solutions providers
  • Distributors and retailers
  • Research organizations
  • Technology standards organizations, forums, alliances, and associations
  • End users
  • Technical universities
  • Government/private research institutes
  • Market research and consulting firms

Report Objectives

  • To describe and forecast the size of the IR spectroscopy market, by type, technology, product type, end-user industry, and region, in terms of value
  • To describe and forecast the market size of various segments across four key regions—North America, Europe, Asia Pacific, and Rest of the World (RoW), in terms of value
  • To forecast the size of the IR spectroscopy market by product type, in terms of volume
  • To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the IR spectroscopy market 
  • To analyze the IR spectroscopy value chain and ecosystem, along with the average selling price of IR spectroscopy systems
  • To strategically analyze the regulatory landscape, tariff, standards, patents, Porter’s five forces, import and export scenarios, trade values, and case studies pertaining to the market under study
  • To strategically analyze micromarkets1 with regard to individual growth trends, prospects, and contributions to the overall market
  • To analyze opportunities in the market for stakeholders by identifying high-growth segments
  • To provide details of the competitive landscape for market leaders
  • To analyze strategies such as product launches, expansion, collaborations, acquisitions, partnerships, and expansions adopted by players in the IR spectroscopy market
  • To profile key players in the IR spectroscopy market and comprehensively analyze their market ranking based on their revenue, market share, and core competencies2

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  • Detailed analysis and profiling of additional market players based on various blocks of the supply chain
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Report Code
SE 4513
Published ON
Mar, 2024
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