Process Spectroscopy Market Analysis and Forecast by Key Players: ABB, Agilent Technologies, Bruker, Buchi Labortechnik, Danaher, Foss A/S, and Horiba
Process spectroscopy is a technique which involves the application of spectroscopy that includes studying the interaction between matter and electromagnetic radiation. With process spectroscopy users can monitor, analyze, and control process along with enhancing the quality of product and recognizing the defects in product materials.
Process Spectroscopy Market is expected to grow at a CAGR of over 5% to exceed USD 1 billion by 2024. The market growth can be credited to the growing adoption of spectroscopic techniques in the food, agriculture and pharmaceutical sectors. Rising awareness of quality drugs & food coupled with several regulations imposed by the government & administrative authorities are the key factors which are projected to drive the process spectroscopy market.
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Top Key Players: -
Key players contributing to process spectroscopy market share include ABB, Agilent Technologies, Bruker, Buchi Labortechnik, Danaher, Foss A/S, and Horiba.
Other prominent industry participants are Kett Electric Laboratory, Sartorius, Shimadzu, Thermo Fisher Scientific, and Yokogawa Electric.
Regional Segmentations: -
Asia Pacific process spectroscopy Market is expected to witness a significant growth over the forecast timeline. Various industry participants are progressively relocating manufacturing facilities and R&D owing to the presence of cheap labor and low resource cost which will catapult the regional growth.
Presence of key industry participants and stringent quality standards in pharmaceuticals, healthcare, and food & agriculture sector is expected to fuel U.S. process spectroscopy market size.
Partial Chapter of the Table of Content
Chapter 3 Process Spectroscopy Industry Insights
3.1 Industry segmentation
3.2 Industry Size and forecast, 2013 - 2024
3.3 Industry ecosystem analysis
3.4 Industry Impact forces
3.4.1 Growth drivers
188.8.131.52. Lower OPEX
184.108.40.206. FDA PAT initiative
220.127.116.11. Need to meet industry standards
3.4.2 Industry pitfalls & challenges
18.104.22.168. High CAPEX
3.5 Growth potential analysis
3.6 Porter’s analysis
3.7 Key competitor analysis, 2015
3.8 PESTEL analysis
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Several industry players in the process spectroscopy market are concentrating on development of instruments and solutions which can provide NIR and FT-IR in a single instrument. For instance, Bruker Corporation announced that the company has a multipurpose FT-NIR analyzer, MPA.
Rising awareness about standards and quality products, among people, has forced several industry players to follow the international quality standard guidelines. The leading players in the process spectroscopy market are focusing on growing the governance through distribution and agreements partnerships.
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