Press release
Process Spectroscopy Market to Record Growth Rate Of 6.2% Via Polymer Segment By 2024
Process Spectroscopy Market
Near infrared spectroscopy technology segment contributed more than 60.1% to total process spectroscopy market share for 2015 and is projected to register CAGR of more than 6.1% during forecast timeline. Growth of the segment can be credited to its increasing use in many sectors likebiogas plants, quality monitoring, plastics identification in chemical sector, food industry and paper production control.
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The implementation of PAT framework by Food and Drug Administration (FDA) which aims at ensuring high quality product performance is anticipated to boost the process spectroscopy market growth. This has increased the adoption of process spectroscopy in pharmaceutical companies across the U.S. The equipment is enabling efficient process monitoring and also performs quality check, which thereby, aids in minimizing the variable expenditure involved by reducing errors as well as re-work.
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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Process analytical technology is a technique that plans, examines and controls production by determining parameters which affect critical value attributes. Food and Drug Administration framed process analytical technology framework to assure outstanding performance. All this has resulted in growing acceptance of the framework by many pharmaceutical firms in U.S. Due to this, U.S. process spectroscopy market is predicted to experience great impact of the framework in future.
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. Cheap workforce and abundant availability of resources in Asia Pacific is prompting major companies to relocate their manufacturing base in this region. APAC process spectroscopy market share is set to record a CAGR of 8% over the period of 2016-2024.
Table of Contents:
Chapter 4 Process Spectroscopy Technology Insights
4.1 Process Spectroscopy market share by technology, 2015 & 2024
4.2 NIR
4.2.1 Market estimates and forecasts by region, 2013 - 2024
4.3 FT-IR
4.3.1 Market estimates and forecasts by region, 2013 - 2024
4.4 Raman
4.4.1 Market estimates and forecasts by region, 2013 - 2024
Chapter 5 Process Spectroscopy Application Insights
5.1 Process Spectroscopy market share by application, 2015 & 2024
5.2 Polymer
5.2.1 Market estimates and forecasts by region, 2013 - 2024
5.3 Oil & gas
5.3.1 Market estimates and forecasts by region, 2013 – 2024
5.4 Pharmaceutical
5.4.1 Market estimates and forecasts by region, 2013 - 2024
5.5 Food & agriculture
5.5.1 Market estimates and forecasts by region, 2013 - 2024
5.6 Chemical
5.6.1 Market estimates and forecasts by region, 2013 – 2024
5.7 Others
5.7.1 Market estimates and forecasts by region, 2013 – 2024
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/process-spectroscopy-market
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