Infrared Spectroscopy Devices Market to Exhibit a CAGR of 7.2% from 2017 to 2023

Infrared Spectroscopy Devices Market
Global Infrared Spectroscopy Devices Market Information, by Spectrum Sensitivity (Near-Infrared (NIR), Mid-Infrared (Mid IR), and Far-Infrared (Far IR)); by Technology (Dispersive Infrared Spectroscopy and Fourier Transform Infrared (FTIR) Spectroscopy)); by Product (Bench top, Portable, and Hyphenated) and by End Users (Hospitals and Clinics, Pharmaceutical Industry and Research Laboratories) – Forecast till 2023

Market Highlights:

Market Research Future published a Half-Cooked Research Report on Infrared Spectroscopy Devices Market. The Global Infrared Spectroscopy Devices Market is expected to grow at a CAGR of 7.2% during the period 2017 to 2023.

Infrared spectroscopy devices use infrared waves for elucidating the presence, structure and quantity of any element or molecule in a sample. The underlying mechanism of working is the differential absorption or transmittance of waves due to differences in structure of the sample. The infrared light absorbance or transmittance is then plotted on the vertical axis vs. frequency or wavelength on the horizontal axis and is called infrared spectrum. The spectrum is then used to detect, quantify and study different samples.

Product development and technological innovation remain the dominant market strategy for being a market leader in IR spectroscopy devices market. The development of high sensitivity and low response time detectors such as photo-conducting detectors, growing miniaturization and portability of devices along with the growth of computational processing power has led to the growth of market. Further advances such as the coupling of IR spectroscopes (Hyphenation) with other instruments such as high pressure liquid chromatography (HPLC) has led to greater automation of the technique. The growing drug discovery industry and the biotechnological sector has created greater demand for devices with faster response and high sensitivity. The market for IR spectroscopy devices favor companies with strong in-house research and development skills.

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The IR spectroscopy devices market will generate stable and sustaining growth due to explosive growth in research and development expenditure, growing demand for safety of drugs and chemicals and the growth of stringent regulations. Thus IR spectroscopy has and will remain an indispensable need of any industry not to speak of its unsurmountable need in pharmaceutical industry.

Key Players:

Some of the key players in this market are: PerkinElmer, Jasco, Shimadzu, Bruker Corp., Agilent Technologies, Thermo Fisher Scientific Inc., Princeton Instruments, Sartorius AG and others.

Global Infrared Spectroscopy Devices Market:

The global infrared spectroscopy devices market is expected to project a strong growth and the market will touch high growth figures in future. The Global Infrared Spectroscopy Devices Market is expected to grow with CAGR of 7.2% during the forecast period. The market for IR spectroscopy favors companies with strong research skills and innovation. Information technology and automation is all set to impact the future market growth. The global spectroscopy devices market also favors contract manufacturing companies strongly due to their sophisticated nature

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Regional Analysis:

Depending on geographic region, infrared spectroscopy devices market is segmented into four key regions: America, Europe, Asia Pacific, and Middle East & Africa. Globally, America is the largest market for Infrared spectroscopy devices due to presence of large number of hi-tech electronics manufacturing companies and faster uptake of technology. Europe is the second-largest market for infrared spectroscopy devices. Asia pacific region is expected to be fastest growing region in infrared spectroscopy devices market due to increasing investments in the research and development industry and the support of the governments for electronic manufacturing. 

Segmentation:

Global infrared spectroscopy devices market has been segmented on the basis of spectrum sensitivity, which comprises near-infrared (NIR), mid-infrared (Mid IR), and far-infrared (Far IR). On the basis of technology; market is segmented into dispersive infrared spectroscopy and Fourier transform infrared (FTIR) spectroscopy. On the basis of product; market is segmented into bench top, portable, and hyphenated. On the basis of end user; market is segmented into hospitals and clinics, pharmaceutical industry and research laboratories.

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