The increasing use of IR spectroscopy in the food & beverages industry would foster the growth of the IR spectroscopy market. Food fingerprinting techniques help to identify the unknown components in the food that can be a potential threat for health; IR spectroscopy is one such key techniques.
market worth 1.26
Billion USD by 2022
According to new market research report "IR Spectroscopy Market by Spectrum
Sensitivity (NIR, Mid IR, and Far IR), Product Type (Benchtop, Micro, Portable, and
Hyphenated), Vertical (Biological, Pharmaceuticals, Chemicals, Food & Beverages,
Environmental), and Geography - Global Forecast to 2022", the overall market is
expected to be valued at USD 1.26 Billion by 2022, growing at a CAGR of 6.5% between 2016
and 2022. The major factors driving the growth of the IR spectroscopy market include
regulatory framework for process analytical technology in the pharmaceuticals industry,
increase in R&D investment in life science, and continuous technological advancements in IR
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TOC on "IR Spectroscopy Market - Global Forecast to 2022"
The pharmaceuticals sector to hold the largest market share during the forecast
The pharmaceuticals sector held the largest share of the IR spectroscopy market in 2015,
while the market for the biological and chemicals sectors is expected to grow at a significant
rate between 2016 and 2022. In the current scenario, IR spectroscopy plays a key role in the
pharmaceutical excipient manufacturing process. Growing acceptance of new international
cGMP & cGDP certification is expected to increase the usage of IR spectroscopy instruments,
thereby driving the growth of the market.
MID IR spectroscopy plays a key role in the IR spectroscopy market
The IR spectroscopy market has been segmented on the basis of spectrum sensitivity into
NIR, Mid IR, and Far IR; of all these, Mid IR is expected to hold the largest market share
during the forcast period, owing to the wide range of applications of Mid IR spectroscopy for
the research and industrial sector. Along with this, the market for NIR spectroscopy devices
is expected to grow at a significant growth rate during the forecast period.
North America expected to hold the largest market share in the near future
North America is expected to hold the largest market share and dominate the IR
spectroscopy market in the near future because of the factors such as stringent drug
development regulations and increase in government funding for R&D in North America. The
market growth can also be attributed to the rise in proteomics research and various
conferences that provide a platform for key players to showcase new products and
The key companies operating in the IR spectroscopy market include Thermo Fisher Scientific
(U.S.), PerkinElmer (U.S.), Bruker Corporation (U.S.), Agilent Technologies (U.S.), Foss
(Denmark), and others.
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