Global IR Spectroscopy Market Trends and Forecast 2017 - 2025 : Analysis and Key Players- Agilent Technologies, PerkinElmer Inc., Bruker Corporation

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IR spectroscopy or infrared spectroscopy is a process used to study and identify different chemicals that could be in various forms including gas, liquid, or solid. Analysis is done by interacting infrared light with molecules with the help of an infrared spectrometer to determine functional groups in molecules. Some of the benefits of using IR spectroscopy are high sensitivity, high resolution, and high scan speed. Infrared spectroscopy is used in several applications such as identification of substances, nanoscale semiconductor analysis, identification of molecular functional groups, detection of impurities, and determination of molecular structure.

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Factors such as growth in research and development investment in pharma and life sciences, stringent regulations pertaining to process analytical technology in the pharmaceuticals industry, and constant technological advancements in IR spectroscopy are some of the factors that are expected to drive the global IR spectroscopy market from 2017 to 2025. As per estimates, global life sciences spending on research and development stood at US$ 170 billion in 2016. Out of the total spending, approximately US$ 72.1 billion was spent by the organizations based in the U.S. This significant amount of R&D investments in the U.S is due to the presence of large number of manufacturers of biotech products, pharmaceuticals, medical devices and instruments, and agricultural biosciences products.

Further, infrared spectroscopy market is witnessing significant technological advancements. In June 2016, Changchun Institute of Applied Chemistry based in China developed a new technique for AFM-IR (Atomic Force Microscope IR). The new technique will be able to provide quantitative analysis of chemical concentrations of polymer nanodomains of rubber particles. Further, new technological developments and applications of Near Infrared Spectroscopy (NIR) technology are expected to give a push to market growth in the coming years. Rising adoption of NIR Spectroscopy in brain research to explore the cognitive and linguistic abilities of young infants and neonates is anticipated to present huge market growth opportunity over the forecast period. Further, increasing adoption of Near Infrared Spectroscopy (NIR) in various agriculture applications such as seed quality detection is expected to have a positive impact on the market over the forecast period.

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The global infrared spectroscopy market is segmented on the basis of product type, spectrum sensitivity, industry vertical, and region. By product type, the market is divided into Benchtop IR Spectroscope, Portable IR Spectroscope, Micro, Hyphenated IR Spectroscope and others. By spectrum sensitivity, the market is segmented into Near Infrared (NIR), Mid Infrared (MIR), and Far Infrared (FIR). Due to significant adoption of NIR spectroscopy in various industrial and research applications, the segment is expected to hold substantial market share. By industry vertical, the IR spectroscopy market is divided into food and beverages, pharma and biotech, environmental testing, agriculture, petrochemicals and others.

With several applications of IR spectroscopy in pharma and biotech, this industry is likely to hold significant market share over the forecast period. By geography, the market is classified into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Huge government and private players’ spending on research and development in North America is likely to boost the regional IR spectroscopy market over the forecast period. Further, stringent drug development regulations in the region, especially in the U.S. are expected to drive the North America infrared spectroscopy market.

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Major players are adopting various strategies such as acquisitions, partnerships, launch of technologically advanced products, and regional expansions due to the presence of significant number of players in the market. Some of the key players in the global IR spectroscopy market are Thermo Fisher Scientific Inc., Agilent Technologies, PerkinElmer Inc., Bruker Corporation, Hamamatsu Photonics K.K., Andor Technology Ltd, the ABB Group, TeraView, Teledyne Technologies Inc., Bayspec, Inc., HORIBA, Ltd. and ZEISS International.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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