Polaris Market Research recently published [115+ Pages] research report on “Near-infrared Spectroscopy Market Share, Size, Trends, Industry Analysis Report, By Product (Dispersive Infrared Spectroscopy, Fourier Transform Based (FT-NIR) Spectrometers); By Type; By Application; By Region; Segment Forecast, 2022 – 2030” in its research database.
According to the research report, the global near-infrared spectroscopy market share was valued at USD 671.77 million in 2021 and is expected to reach USD 1,132.85 Million by 2030, growing at a CAGR of 6.1 % during the forecast period.
What is Near-infrared Spectroscopy Market? How Big is Near-infrared Spectroscopy Market Size & Share?
Near-infrared spectroscopy is a spectroscopic technique that concentrates its attention on the near-infrared region of the electromagnetic spectrum – 780 to 2500 nm. The rapidly rising demand for the near-infrared spectroscopy market can be attributed to the increasing use of quality control and quality assurance procedures where the critical aim is to precisely regulate samples’ chemical and physical properties. Quality control applications functioning with jet fuel, crude oil, or diesel blends are also regularly served by NIRS’ direct multiparameter analysis of the crucial parameter needed for successfully observing the clarifying of hydrocarbons.
Along with the statistical cure and advanced software algorithms, NIR spectroscopy is considered a maximum technique for quantitative analysis providing a suitable replacement for gradual methods, such as wet chemical and liquid chromatographic. The procedure is flexible, with no need for sample preparation and lesser costs and time. The growth of the market is reinforced by pharmaceutical and nutraceutical manufacturers.
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What Does the Report Include?
- An extensive analysis of the competitive hierarchy of the market is presented in the report
- A profile of all products developed by established companies and the application scope of each product is listed in the report
- The study also offers insight into the industry share of all companies listed
- The report also portrays details including sales ensued by each product and revenue generated
- The report provides data concerning marketing channels deployed by important companies
Some of the Top Market Players Are:
- Agilent Technologies
- Brainbox Ltd
- Bruker Corp
- Carl Zeiss AG
- Hitachi Ltd., Edinburgh Instruments Ltd
- Horiba Ltd.
- JASCO International Co.
- KPM Analytics
- Lumex Instruments
- Malvern Panalytical Ltd
- Metrohm AG
- Oxford Instruments
- OSRAM Opto Semiconductors GmbH
- PerkinElmer Inc.
- Shimadzu Corporation
- Thermo Fisher Scientific Inc
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Growth Driving Factors
- Growing flexibility and adaptability in the product line to push the market
As per the article published in May 2022, the WHO expressed that approximately 11% of medications traded in surfacing markets are forged and generate 144,000 deaths. Several regulatory organizations such as Health Canada, the Dutch Medicines Authority, the Ministry of Health, National Medical Stores, and NDA utilize NIR spectroscopy as one of the methods to examine pharmaceutical verification. Near-infrared spectroscopy market size is expanding due to growing numbers of applications, increasing flexibility and adaptability in the product line, and escalating scope of NIR spectroscopy in providing chemical and physical know-how are also contributing to the industry growth.
The near-infrared spectroscopy market sales are soaring due to its increasing usage in the field of food, pharmaceuticals, chemical, grain, and semiconductor industries. Since the technology provides substantial signal-to-noise ratios, several companies, such as PerkinElmer Inc., provide additional software complimentary for data processing and acquisition. Further, NIR spectroscopy is a transpiring and functioning market with many small to mid-sized players.
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- In March 2022, an assorted year of partnership accordance has been reached by KPM Analytics Inc. and AB Vista, the feed additions business of AB Agri Limited. The contemporary license agreement escalates the calibration development, customizations, and support operations amongst two companies and freezes the deliberated partnership between KPM Analytics and AB Vista.
- FT-NIR segment led and held the largest share
Based on the product, the FT-NIR spectrometer segment was spearheaded and held the most significant share. This segment is expected to evolve at the highest rate and margin during the predicted time frame. The delayed wet chemical procedures and chromatographic techniques can be successfully restored by FT-NIR. The near-infrared spectroscopy market demand is increasing because it is quick and reliable for quantitative and qualitative analysis. It is non-destructive and avoids sample preparation or harmful chemicals.
- The benchtop segment dominated the market
Based on type, the benchtop type segment endured spearheading the market through the projection period because of its high preciseness and capacity to recognize several substances within the pharmaceutical sector. The benchtop’s extended agedness and reduced occurrence of acquisition by businesses indicate that it is expected to have a moderated volume of sales and a higher profit margin. The near-infrared spectroscopy market trends include advantages provided by benchtop instruments such as improvised workflow, most minor space requirements, and lessened sustenance needs, an extensive snippet of this market can be attributed to them.
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Near-infrared Spectroscopy Market: Report Scope
|Market Outlook for 2030||USD 1,132.85 Million|
|Market Size 2021 Value||USD 671.77 Million|
|Expected CAGR Growth||6.1 % from 2022 – 2030|
|Forecast Year||2022 – 2030|
|Top Market Players||ABB, Agilent Technologies; Brainbox Ltd; Bruker Corp; Carl Zeiss AG; Galaxy-Scientific; Hitachi Ltd., Edinburgh Instruments Ltd; Horiba Ltd., JASCO International Co.; KPM Analytics; Lumex Instruments; Malvern Panalytical Ltd; Metrohm AG; Oxford Instruments; OSRAM Opto Semiconductors GmbH; PerkinElmer Inc.; Shimadzu Corporation; Thermo Fisher Scientific Inc.|
|Segments Covered||By Product, By Type, By Application, and By Region|
|Customization Options||Customized purchase options are available to meet your research needs. Explore customized purchase options|
- The significant presence of pharmaceutical producers pushes the European market
Europe held the largest near-infrared spectroscopy market share due to the most significant percentage attributable to the region’s appearance of substantial pharmaceutical producers and the area regulatory authorities’ approval of NIR spectroscopy. The governing jurisdiction’s instructions assist with the generation, validation, and application of NIR-founded analytical methods for assessing the drug and its elemental parts.
As Japan and India have rendered substantial progression in the application of near-infrared spectroscopy technology, the Asia Pacific region is anticipated to grow at the speediest rate inclusive during the forecast period. Due to the growing cases of cardiovascular diseases and cancers in the region and increasing worries about food impurities, the Asia Pacific market is expected to evolve at the fastest rate in the context of revenue during the upcoming years.
Browse the Detail Report “Near-infrared Spectroscopy Market Share, Size, Trends, Industry Analysis Report, By Product (Dispersive Infrared Spectroscopy, Fourier Transform Based (FT-NIR) Spectrometers); By Type; By Application; By Region; Segment Forecast, 2022 – 2030” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/near-infrared-spectroscopy-market
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Near-infrared Spectroscopy Market Report Highlights
- In 2021, the market segment for FT-NIR spectrometers dominated the market. The sector is predicted to maintain its dominance over the forecast period as FT-NIR can efficiently replace the time-consuming wet chemical procedures and chromatographic techniques.
- In 2021, the benchtop-type segment dominated the industry and held the most share. One of the factors, such as its high accuracy and capacity to identify various substances inside a pharmaceutical sector.
- In 2021, the particle measurement segment led the industry worldwide and then was responsible for the largest portion of revenue. Studying particles in many disciplines, such as the production of Pharmaceutical drugs, is covered in this segment.
- Europe dominated the global market in 2021 as a result of the establishment of several pharmaceutical companies and increased regulation for quality-check as part of GMP compliance.
Polaris Market Research has segmented the Near-infrared Spectroscopy Market report based on, Product, type, application, and region:
By Product Outlook
- Dispersive Infrared Spectroscopy
- Fourier Transform Based (FT-NIR) Spectrometers
By Type Outlook
By Application Outlook
- Medical Applications
- Astronomical Spectroscopy
- Remote Monitoring
- Particle Measurement
- Material Science
- Industrial Use
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)Latin America (Brazil, Mexico, Argentina)
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