Press release
Ultraviolet-Visible Spectroscopy Market Size, Trends And Report To 2024-2033
Ultraviolet-Visible Spectroscopy Market
The Business Research Company offers in-depth market insights through Ultraviolet-Visible Spectroscopy Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The ultraviolet-visible spectroscopy market size has grown strongly in recent years. It will grow from $1.5 billion in 2023 to $1.59 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to pharmaceutical and biotechnology research, environmental monitoring, food and beverage quality control, materials analysis, chemical and petrochemical sector.
The ultraviolet-visible spectroscopy market size is expected to see strong growth in the next few years. It will grow to $2.04 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to biomedical and life sciences research, advancements in drug development, expanded environmental analysis, quality assurance in food and beverages, materials characterization in manufacturing. Major trends in the forecast period include pharmaceutical drug development, integration with data analytics, remote sensing and field applications, demand for compact and portable devices, collaborations for method development.
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Market Segmentation:
The ultraviolet-visible spectroscopy market covered in this report is segmented -
1) By Instrument type: Single-Beam System, Double-Beam System, Array Based System, Handheld System
2) By Application: Industrial Applications, Physical Chemistry Studies, Life Science Studies, Environmental Studies, Academic Applications, Life Science Research and Development, Quality Assurance and Quality Control
3) By End User: Pharmaceutical And Biotechnology Companies, Academic And Research Institutes, Agriculture And Food Industries, Environmental Testing Labs
Major Driver - Ultraviolet-Visible Spectroscopy Market Growth Fueled By Increased Pharmaceutical Production And Vaccine Demand
The outbreak of COVID-19 led to increase in the production of pharmaceutical drugs and the demand for vaccines and fueled the growth of the ultraviolet-visible spectroscopy market. Due to the increased demand for certain drugs during the pandemic, the demand for ultraviolet-visible spectroscopy instruments also grew for research and development of new medications and vaccines. UV Vis spectrophotometry provides fast, easy, and accurate characterization of components such as nucleic acids, proteins, and additives/preservatives and can impact the time-to-result for both downstream and upstream processes, including quality control. According to a study by Mettler Toledo, these instruments were extremely crucial for the development of the COVID-19 vaccines and thus supported the growth of the market.
Competitive Landscape:
Major companies operating in the ultraviolet-visible spectroscopy market report are PG Instruments Ltd., Thermo Fisher Scientific Inc., GE Healthcare Company, Agilent Technologies Inc., Ametek Inc., Hitachi High-Technologies Corporation, PerkinElmer Inc., Mettler-Toledo International Inc., Shimadzu Corporation, Bio-Rad Laboratories Inc., Bruker Corporation, HORIBA Ltd., Hamamatsu Hotonikusu Kabushiki-Kaisha, Hach Company, X-Rite Inc., Buck Scientific Inc., PERSEE PG Scientific Inc., Cole-Parmer Instrument Company, JASCO Inc., Biochrom Ltd., Cecil Instrument Ltd., Hunter Associates Laboratory Inc., GBC Scientific Equipment Pty Ltd., Kemtrak AB, Analytik Jena Shanghai Instruments Ltd., ColVisTec AG Inc., Applied Analytics Inc., Guided Wave Inc., ES Industry Pvt Ltd.
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Top Trend - Advancing UV-Visible Spectroscopy With Cutting-Edge Nir Microspectrophotometers
Major companies operating in the ultraviolet-visible spectroscopy market are developing advanced technologies, such as near-infrared (NIR) microspectrophotometers, to meet larger customer bases, increase sales, and increase revenue. A near-infrared (NIR) microspectrophotometer is a specialized analytical instrument designed to measure the absorption, transmission, and reflection properties of materials in the near-infrared region of the electromagnetic spectrum. For instance, in January 2022, CRAIC Technologies, a US-based manufacturer of microspectrophotometers and microscopes, launched the 2030PV PRO UV-visible-NIR microspectrophotometer. The distinctive feature of the 2030PV PRO UV-visible-NIR microspectrophotometer lies in its non-destructive analysis capabilities across a broad spectrum, from deep ultraviolet to near-infrared. This advanced instrument facilitates absorbance, reflectance, Raman, photoluminescence, and fluorescence analyses of microscopic samples. Notably, it offers the flexibility to configure for UV and NIR imaging in addition to color imaging. The integration of high-resolution digital imaging sets the 2030PV PRO apart, allowing users to leverage its functionality as both a UV and infrared microscope. Furthermore, its compatibility with CRAIC Technologies Traceable Standards, calibrated with NIST Standard Reference Materials, enhances precision and reliability in micro spectrophotometry applications.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Ultraviolet-Visible Spectroscopy Market Characteristics
3. Ultraviolet-Visible Spectroscopy Market Trends And Strategies
4. Ultraviolet-Visible Spectroscopy Market - Macro Economic Scenario
5. Ultraviolet-Visible Spectroscopy Market Size And Growth
…..
27. Ultraviolet-Visible Spectroscopy Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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