Press release
Global Ultraviolet-Visible Spectroscopy Market Projected to Grow at 6.7% CAGR, Reaching $2.12 Billion by 2029
Ultraviolet-Visible Spectroscopy Market
What Will the Ultraviolet-Visible Spectroscopy Industry Market Size Be by 2025?
The market size for ultraviolet-visible spectroscopy has seen a consistent rate of growth in the past few years. Its size is projected to increase from $1.57 billion in 2024 to $1.63 billion in 2025, showcasing a compound annual growth rate (CAGR) of 3.7%. This growth during the historical period is related to factors such as pharmaceutical and biotech research, environmental monitoring, assessments of food and beverage quality, materials analysis, and the chemical and petrochemical industry.
What's the Long-Term Growth Forecast for the Ultraviolet-Visible Spectroscopy Market Size Through 2029?
Anticipated to witness robust expansion in the forthcoming years is the ultraviolet-visible spectroscopy market, foreseeing a growth to $2.12 billion by 2029, accelerating at a compound annual growth rate (CAGR) of 6.7%. The expected growth during the forecast period can be tied to factors such as progress in biomedical and life sciences research, advancements in drug development, expansion in environmental analysis, assurance of food and beverage quality, and material characterization in the manufacturing sector. Noteworthy trends during the estimated period encompass pharmaceutical drug development, integration with data analytics, applications in remote sensing and fieldwork, increasing demand for compact and portable instruments, and partnerships in method development.
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What Are the Key Growth Drivers Fueling the Ultraviolet-Visible Spectroscopy Market Expansion?
The surge in production of pharmaceutical drugs and the heightened demand for vaccines due to the COVID-19 pandemic have been instrumental in propelling the growth of the ultraviolet-visible spectroscopy market. The growing necessity for specific drugs throughout the pandemic subsequently led to a rise in the demand for ultraviolet-visible spectroscopy instruments in the development and research of novel medications and vaccines. UV Vis spectrophotometry offers a fast, efficient, and precise analysis of components like nucleic acids, proteins, and additives/preservatives, influencing the time-to-result in both downstream and upstream processes, inclusive of quality control. A research conducted by Mettler Toledo emphasized the vital role played by these tools in the creation of COVID-19 vaccines, thereby affirming their contribution in driving the market's growth.
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What Are the Key Trends Driving Ultraviolet-Visible Spectroscopy Market Growth?
Prime companies in the UV-Visible spectroscopy market are churning out innovative products, such as fast-detecting spectrometers, to accommodate bigger consumer bases, boost their sales, and elevate their revenues. The term "fast-detection" is identified with a spectrometer built with a detection mechanism that quickly records and processes data. For example, Shimadzu Corporation, a prominent Japanese firm specializing in the manufacturing of precision and measuring instruments, as well as medical equipment, unveiled the Tm Analysis System in April 2023. This superior tool is designed to improve the analysis of melting temperatures (Tm) of biomolecules, especially nucleic acids, by incorporating a UV-Vis spectrometer, the TMSPC-8i temperature-controlled cell holder, and LabSolutions UV-Vis Tm Analysis software. The system is distinctly designed to examine the thermal stability of nucleic acids by tracking variations in absorption as the temperature rises, allowing for the calculation of the Tm value that signifies the temperature at which half of the DNA strands are in a double-helix state and half in a single-helix state.
How Is the Ultraviolet-Visible Spectroscopy Market Segmented?
The ultraviolet-visible spectroscopymarket 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
Subsegments:
1) By Single-Beam System: Basic Single-Beam Spectrophotometers, Advanced Single-Beam Systems
2) By Double-Beam System: Continuous Double-Beam Systems, Pulsed Double-Beam Systems
3) By Array Based System: CCD Array Spectrometers, CMOS Array Spectrometers
4) By Handheld System: Portable UV-Vis Spectrophotometers, Miniature Handheld Systems
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Which Companies Are Leading the Charge in Ultraviolet-Visible Spectroscopy Market Innovation?
Major companies operating in the ultraviolet-visible spectroscopy market include 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.
Which Regions Are Leading the Global Ultraviolet-Visible Spectroscopy Market in Revenue?
North America was the largest region in the ultraviolet-visible spectroscopy market share in 2024. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the ultraviolet-visible spectroscopy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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