IR Spectroscopy Market Insights
According to MRFR analysis, the Global IR Spectroscopy Market is expected to register a CAGR of~8.70% from 2023 to 2030 and hold a value of over USD 0.84 billion by 2032.
The global infrared (IR) spectroscopy market refers to the market for instruments and accessories used for infrared spectroscopy, a technique that analyzes the interaction of infrared radiation with matter. IR spectroscopy is widely used in various industries for qualitative and quantitative analysis of samples, identification of chemical compounds, and characterization of materials.
The growth of the global IR spectroscopy market is driven by several factors, including the increasing adoption of spectroscopic techniques in various industries for quality control and process monitoring, advancements in technology leading to improved instrument performance and ease of use, and the rising demand for analytical instruments in emerging economies.
The COVID-19 pandemic had a significant impact on the global IR spectroscopy market. The pandemic caused disruptions in the global supply chain, including the production and distribution of IR spectroscopy instruments and accessories. Manufacturing facilities faced temporary closures or reduced operations due to lockdown measures and restrictions on non-essential activities, leading to delays in production and delivery.
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Key Players
Some of the key market players are:
IR Spectroscopy Market Regional Analysis
North America has historically been the largest region in the global IR spectroscopy market. It has a strong presence of key industry players, well-established research institutions, and a significant demand for analytical instruments across various industries.
The region has a well-developed healthcare and pharmaceutical sector, where IR spectroscopy is widely used for drug development, quality control, and research purposes. Furthermore, North America has a robust academic and research ecosystem, with universities and research institutions actively engaged in scientific research and development. This contributes to the demand for IR spectroscopy instruments and fosters innovation in the field.
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IR Spectroscopy Market Segmentation
The Global IR Spectroscopy Market has been segmented into product, technology and application.
Based on the product, the market has been segmented into benchtop, portable and hyphenated.
Based on the technology, the market has been segmented into near-infrared spectroscopy, mid-infrared spectroscopy and far-infrared spectroscopy.
Based on the application, the market has been segmented into healthcare, pharmaceuticals, chemicals, research and food & beverage.
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