Global Process Spectroscopy Market Report, Size, Share, Growth, Revenue and Forecast 2022-2027

According to the latest report by IMARC Group, titled " Process Spectroscopy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global process spectroscopy market reached a value of US$ 21.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 32.4 Billion by 2027, exhibiting a CAGR of 7.11% during 2022-2027.

Process spectroscopy refers to a specialized technique used for analyzing the interactions between electromagnetic radiation, light, and matter. It involves various devices, such as micro, benchtop, hyphenated and portable spectroscopes, signal processors, microscopes, etc. Process spectroscopy is commonly utilized for Raman spectroscopy, Fourier Transform Infrared Spectroscopy (FT-IR), Near-Infrared (NIR), and nuclear magnetic resonance (NMR). It involves splitting the radiation into a spectrum of wavelengths to study protons, electrons, ions, and the generated collision energy. Consequently, process spectroscopy finds extensive applications in research and development (R&D) activities and across various industries, including pharmaceutical, healthcare, electronics, etc.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Market Trends and Drivers:

The expanding pharmaceutical industry is one of the key factors driving the process spectroscopy market. In line with this, the elevating utilization of this technique by drug manufacturers to evaluate the material porosity of a substance for quality control is further catalyzing the market growth. Moreover, the escalating demand for process analyzers in bioreactors, slipstreams, reaction vessels, large volumetric probes, etc., for wastewater treatment and drug manufacturing is augmenting the global market. Besides this, the shifting preferences among researchers and organizations towards monitoring, analyzing, and controlling manufacturing processes and identifying defects in product materials are also bolstering the market growth. Additionally, the inflating adoption of spectroscopic techniques in the forensic sector for the identification of organic substances and compounds at crime scenes is anticipated to fuel the process spectroscopy market in the coming years.

Process Spectroscopy Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the global process spectroscopy market has been studied in the report with the detailed profiles of the key players operating in the market.

Competitive Landscape with Key Players:

• ABB Ltd
• Agilent Technologies Inc.
• Bruker Corporation
• Buchi Labortechnik AG
• Danaher Corporation
• Foss A/S
• Horiba Ltd.
• Kett Electric Laboratory
• Sartorius AG
• Shimadzu Corporation
• Thermo Fisher Scientific Inc.
• Yokogawa Electric Corporation

Key Market Segmentation:

The report has segmented the global process spectroscopy market on the basis of technology, component, application and region.

Breakup by Technology:

• Molecular Spectroscopy
• Mass Spectroscopy
• Atomic Spectroscopy

Breakup by Component:

• Hardware
• Software

Breakup by Application:

• Polymer
• Oil and Gas
• Pharmaceuticals
• Food and Agriculture
• Chemicals
• Water and Wastewater
• Others

Breakup by Region:

• North America
• Asia-Pacific
• Europe
• Latin America
• Middle East and Africa

Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/process-spectroscopy-market

Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.