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IR Spectroscopy Market Trends

Report ID: GMI11642
Published Date: Oct 2024
Report Format: PDF

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IR Spectroscopy Market Trends

One of the prominent trends in the IR spectroscopy industry is the integration of advanced technologies, such as ML and AI, to enhance data analysis and interpretation. These technologies help in processing complex IR spectra, identifying patterns, and providing more accurate and reliable results. Furthermore, the combination of IR spectroscopy with other analytical techniques, such as chromatography and mass spectrometry, is gaining traction. This hybrid approach provides a comprehensive analysis by leveraging the strengths of each method, making it particularly valuable in complex applications such as pharmaceutical research and environmental analysis.

The development and adoption of portable and handheld IR spectrometers have significantly expanded the market's reach. These compact devices allow for on-site, real-time analysis, which is particularly beneficial in industries such as food safety, environmental monitoring, and forensic science. Portable IR spectrometers are designed to be user-friendly, often featuring advanced software that simplifies the data collection and analysis process. This trend toward portability not only enhances the versatility and convenience of IR spectroscopy but also opens new application areas where traditional laboratory-based instruments are impractical.

The IR spectroscopy market is witnessing increased demand from emerging economies, driven by the rapid industrialization and growing emphasis on quality control and regulatory compliance in these regions. Countries in Asia Pacific, Latin America, and the Middle East are investing in advanced analytical tools to support their expanding pharmaceutical, chemical, and food industries. Moreover, government initiatives aimed at improving environmental monitoring and public health are fueling the adoption of IR spectroscopy. As these economies continue to develop, the need for reliable and efficient analytical techniques such as IR spectroscopy is expected to rise, providing substantial growth opportunities for market players.

Authors: Suraj Gujar , Sandeep Ugale

Frequently Asked Questions (FAQ) :

The global market for IR spectroscopy was reached USD 1.3 billion in 2023 and is expected to grow at a CAGR of over 5% between 2024 and 2032, driven by rising demand in the pharmaceutical industry and advancements in technology.

The Fourier Transform Infrared (FTIR) spectroscopy technology led the market in 2023, capturing over 30% of the share. FTIR is a sophisticated analytical technique widely used in the IR spectroscopy industry to obtain detailed molecular information about samples.

The portable IR spectroscopy segment is expected to grow at a CAGR of over 9% through 2032, due to rapidly growing food and beverage industry.

North America region dominated the global IR spectroscopy market in 2023, accounting for a share of over 35%. The U.S. is the major contributor, supported by a robust pharmaceutical industry, advanced healthcare infrastructure, and significant investments in research and development.

Key players in the IR spectroscopy market include Thermo Fisher Scientific, PerkinElmer, Bruker, Shimadzu, Agilent Technologies, Jasco International, and Horiba.