Press release
Ultraviolet-Visible Spectroscopy Market 2024 - By Size, Share Analysis, Trends And Growth Forecast By 2033
Ultraviolet-Visible Spectroscopy Market
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.
Market Overview -
Ultraviolet-visible spectroscopy is a method used to measure light absorbance in the ultraviolet and visible ranges of the electromagnetic spectrum. The ultraviolet-visible spectroscopy devices find their application in analytical chemistry for the quantitative determination of different analytes, such as transition metal ions, highly conjugated organic compounds, and biological macromolecules.
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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.
High-Speed Detection UV-VIS Spectrometer Revolutionizes Educational Laboratories
Major companies operating in the ultraviolet-visible spectroscopy market are developing innovative products, such as high-speed detection spectrometers, to meet larger customer bases, increase sales, and increase revenue. High-speed detection refers to a spectrometer equipped with a detection system capable of rapidly capturing and processing data. For instance, in May 2021, PASCO Scientific, a US-based education software company, launched the PASCO UV-Vis Spectrometer. Specifically tailored for educational laboratories, the competitively priced PASCO UV-Vis Spectrometer stands out with its capability to deliver high-speed spectral scans spanning from 180 to 1050 nm. Accompanied by user-friendly spectrometry software, the system promotes collaborative learning among lab members. Uniquely designed for the dynamic environment of undergraduate programs, this spectrometer boasts a quick warm-up time of less than ten minutes and eliminates the need for intricate calibrations. Its compact design ensures lasting durability, incorporating distinctive features such as an internal drain, external cuvette marking, and a stabilized optic bench, guaranteeing consistent accuracy over time with a minimal deviation of ±1 nm.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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