With the Infrared Spectroscopy market research report, best market opportunities are put forth along with the well-organized information to accomplish a persistent growth in the market. This market report consists of historic data along with future forecast and detailed analysis for the market on a global and regional level. Key industry elements covered in the Infrared Spectroscopy report are industry outlook along with critical success factors, industry dynamics, market definition, drivers and restraints, market segmentation, value chain analysis, key developments, application and technology outlook, regional or country level analysis and competitive landscape.
Global Infrared Spectroscopy Market was valued at USD 1.0 billion in 2021 and is expected to reach USD 1.49 billion by 2029, registering a CAGR of 4.6% during the forecast period of 2022-2029. The “Pharma and biotech” accounts for the largest application segment in the infrared spectroscopy market within the forecasted period owing to the high demand for imaging and illumination components of endoscopes applications. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Market Overview:
Currently, the infrared spectroscopy is one of the most widely used spectroscopy techniques in the food industry. Moreover, owing to its understanding of the molecular landscape and chemical pathologies of various clinical diseases, the infrared spectroscopy is a powerful investigative tool. It may lead to the discovery of new biomarkers and the development of novel therapeutic strategies in the future. Owing to increasing usage for various applications, the market is projected to show lucrative growth over the forecasted period.
Some of the major players operating in the infrared spectroscopy market are Thermo Fisher Scientific, (U.S), Agilent Technologies, Inc., (U.S), PerkinElmer, Inc., (U.S), Medtronic (Ireland), Horiba, (Japan), Teledyne FLIR LLC, (U.S), Shimadzu Corporation, (Japan), Miltenyi Biotec, (U.S),
Infrared Spectroscopy Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
Increased Usage of Infrared Spectroscopy Will Drive Growth
The increase in the demand for infrared spectroscopy techniques in various industries including biological, food and beverages, pharmaceuticals, medicinal, chemistry, chemicals, and semiconductors, is the most significant factor driving the growth for this market. Rise in the use of infrared spectroscopy in the biological sector to detect various diseases and its usage in for food fingerprinting techniques are also expected to accelerate the overall growth of the market.
Furthermore, factors such as the expanding healthcare sector and increasing healthcare expenditure are also expected to fuel market growth. Moreover, the rise in the demand from emerging nations, rise in the adoption of NIR spectroscopy in seed detection also cushions the market’s growth within the forecasted period.
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