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Competitive Analysis: Leading Companies and New Entrants in the Ultraviolet-Visible Spectroscopy Market
Ultraviolet-Visible Spectroscopy Market
Forecasted Growth and Market Size of Ultraviolet-Visible Spectroscopy
The ultraviolet-visible spectroscopy market is projected to expand significantly by 2030, reaching a valuation of $2.27 billion. This growth corresponds to a compound annual growth rate (CAGR) of 6.9% during the forecast period. Factors propelling this increase include expanding biotechnology research efforts, the rising need for fast and reliable analytical testing, growth in pharmaceutical research and development pipelines, heightened attention to food safety analysis, and the widespread adoption of advanced automation in laboratories. Key trends expected to influence the market include a growing preference for highly sensitive UV-Vis instruments, increased demand for portable and handheld spectrophotometers, the broadening use of spectroscopy in life sciences and biopharmaceutical studies, the rise of automated and high-throughput analytical methods, and a shift toward versatile, user-friendly systems capable of multiple applications.
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Notable Companies Leading the Ultraviolet-Visible Spectroscopy Market
Several prominent firms are actively shaping the ultraviolet-visible spectroscopy landscape. Some of the key players include PG Instruments Ltd., Thermo Fisher Scientific Inc., Agilent Technologies Inc., AMETEK Inc., Hitachi High-Technologies Corporation, PerkinElmer Inc., Shimadzu Corporation, Bio-Rad Laboratories Inc., Bruker Corporation, HORIBA Ltd., Hamamatsu Photonics K.K., Hach Company, Buck Scientific Inc., PERSEE PG Scientific Inc., JASCO Inc., Biochrom Ltd., Cecil Instrument Ltd., GBC Scientific Equipment Pty Ltd., Kemtrak AB, Analytik Jena Shanghai Instruments Ltd., Applied Analytics Inc., Guided Wave Inc., and ES Industry Pvt. Ltd.
Recent Acquisitions Strengthening Market Position
In May 2023, Japan-based HORIBA Advanced Techno Co. Ltd. completed the acquisition of Tethys Instruments SAS, a company specializing in ultraviolet-visible spectroscopy technology based in France. This acquisition is part of a broader strategy by Veritas Capital's portfolio company, Peraton, which has rapidly expanded through multiple acquisitions. Notably, Northrop Grumman's IT and mission support services were integrated into Peraton, increasing its scale nearly sevenfold. The addition of Tethys Instruments SAS strengthens Peraton's presence in the UV-Vis spectroscopy sector and enhances its technological offerings.
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Key Trends Shaping the Future of Ultraviolet-Visible Spectroscopy
Leading organizations in the ultraviolet-visible spectroscopy market are investing in innovative technologies to capture broader customer segments and boost revenue streams. One prominent development is the introduction of high-speed detection spectrometers, which feature advanced detection systems capable of quickly capturing and processing spectral data. For example, in April 2023, Shimadzu Corporation launched the Tm Analysis System, a sophisticated tool designed to improve the measurement of melting temperatures (Tm) of biomolecules, particularly nucleic acids. This system combines a UV-Vis spectrometer, a temperature-controlled cell holder (TMSPC-8i), and specialized software (LabSolutions UV-Vis Tm Analysis) to monitor absorbance changes as temperature rises. The system helps determine the Tm value, indicating the temperature at which DNA transitions between double-stranded and single-stranded states, offering valuable insights for molecular studies.
Ultraviolet-Visible Spectroscopy Market Segmentation Overview
This report categorizes the ultraviolet-visible spectroscopy market based on several key factors:
1) Instrument Type: Single-Beam Systems, Double-Beam Systems, Array-Based Systems, and Handheld Systems.
2) Application Areas: Industrial Uses, Physical Chemistry Research, Life Science Investigations, Environmental Studies, Academic Research, Life Science R&D, and Quality Assurance/Quality Control activities.
3) End Users: Pharmaceutical and Biotechnology Firms, Academic and Research Institutions, Agriculture and Food Industry Players, and Environmental Testing Laboratories.
Further breakdowns include subcategories such as:
- Single-Beam Systems into Basic and Advanced types,
- Double-Beam Systems divided into Continuous and Pulsed variants,
- Array-Based Systems separated into CCD and CMOS spectrometers,
- Handheld Systems encompassing Portable UV-Vis spectrophotometers and Miniature handheld devices.
This detailed segmentation offers a clear view of the diverse instruments and applications driving growth in the ultraviolet-visible spectroscopy market.
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