The IR spectroscopy market was valued at US$ 1,244.57 million in 2020 and is expected to grow at a CAGR of 6.3% during the forecast period of 2021 to 2028 to reach US$ 1,998.22 million by 2028.
Spectroscopy is paving the path of sampling for testing purpose in varied applications, including healthcare and medical research. In mentioned applications, spectroscopy is used as a tool for enhancing diagnostics, sensing, and disease detection. In the past few years, many advancements have evolved spectroscopes from near-IR to UV-VIS for biomedical and several other applications. Factors such as growing number of medical facilities and clinical research centers across the world to better serve the needs of patients and medical staff and increasing investments in healthcare & pharmaceutical industries to encourage R&D in mentioned industries are contributing toward the market growth. Also, the Asian market houses varied industries—ranging from manufacturing to oil & gas—which is further raising the demand for IR spectroscopes for testing and sampling purposes. Moreover, the emergence of lightweight and compact portable/handheld spectroscopes to assist in on-field applications is another factor anticipated to bring growth prospects for the manufacturers and providers of IR spectroscopy. Also, rising number of food processing units and increasing dairy operations across the world are creating significant opportunities for the IR spectroscopy manufacturers, which, in turn, is expected to propel the growth of the IR spectroscopy market during the forecast period.
Impact of COVID-19 Pandemic on IR Spectroscopy Market
The COVID-19 crisis is affecting the industries worldwide. The global economy took the worst hit in 2020 and it is likely to continue in 2021. The outbreak has created significant disruptions in primary industries such as food & beverages, medical, energy & power, electronics & semiconductor, petroleum, and chemicals. A sharp decline in the growth of mentioned industrial activities is impacting the growth of the global IR spectroscopy market as they are the major supply and demand sources for IR spectroscopy products and solutions. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the outbreak have impacted manufacturing, supply, and sales of various electronic components that are required for the manufacturing of IR spectroscopy.
Lucrative Regional Markets for IR Spectroscopy Providers
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IR Spectroscopy Market Insights
Rising Applications in Pharmaceutical and Healthcare Industry
IR spectroscopes are prominently used in healthcare & pharmaceutical industries. Owing to rising investments in diagnostics and biomedical research, the scope of IR spectroscopy market is expanding. As clinical and research instrumentation, optical spectroscopy, and sensing are the major part of life sciences, IR spectroscopy provides ideal means for real-time analysis and non-destructive sampling in labs. Additionally, increasing demand for IR spectroscopy from various pharmaceutical companies for integrating new age cloud-based devices is further propelling the market growth.
Technology-Based Market Insights
Based on technology, the IR spectroscopy market is segmented into near-infrared, mid-infrared, and far-infrared. The mid-infrared segment led the IR spectroscopy market.The mid-infrared spectroscopy (MIR) is a vibrational spectroscopy technique, which identifies chemicals based on interaction of molecules with electromagnetic radiation in a mid-infrared region in a range of 400–4000 cm-1. The MIR spectroscopic sensing has a prolonged history of developing, implementing, and continually improving powerful instruments. Advancement in MIR light sources and spectrometers is prompting the development of fast and powerful instruments to explore an array of industrial, scientific, and biomedical problems. For instance, Agilent Technologies provides 5500 Series compact and portable mid-IR spectrometers developed for on-site oil & lubricant analysis. In addition to applications of MIR, environmental gas sensing is another application of MIR spectrometers. Moreover, MIR spectroscopy provides label-free chemical contrast in biosensing of tissues and cells. Such diverse application areas of MIR spectroscopy would help in fueling the market growth.
IR Spectroscopy Market, by Product Type – 2020 and 2028
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IR Spectroscopy Market: Strategic Insights
Market Size Value in US$ 1,244.57 Million in 2020 Market Size Value by US$ 1,998.22 Million by 2028 Growth rate CAGR of 6.3% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
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The players operating in the IR spectroscopy market focus on strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:Customize Research To Suit Your Requirement
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IR Spectroscopy Market: Strategic Insights
| Market Size Value in | US$ 1,244.57 Million in 2020 |
| Market Size Value by | US$ 1,998.22 Million by 2028 |
| Growth rate | CAGR of 6.3% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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In 2021, Agilent Technologies, Inc. released MassHunter Workstation Plus 11.0, MassHunter BioConfirm, and MassHunter Networked Workstation 11.0 in order to comply with regulatory requirements from the EU EMEA and US FDA.
In 2019, PerkinElmer Inc. launched DA 6200 NIR analyser—an NIR spectrometer, which would allow meat and olive processors to perform quality and process control more accurately.
The IR spectroscopy market has been segmented as follows:
IR Spectroscopy Market – by Technology
- Near-infrared
- Mid-infrared
- Far-infrared
IR Spectroscopy Market – by Product Type
- Benchtop Spectroscopes
- Micro Spectroscopes
- Portable Spectroscopes
- Hyphenated Spectroscopes
IR Spectroscopy Market – by End-user
- Healthcare
- Chemicals
- Oil and Gas
- Food and Beverages
- Other End-users
IR Spectroscopy Market – by Region
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
- South America (SAM)
- Brazil
- Argentina
- Rest of SAM
Company Profiles
- Agilent Technologies, Inc.
- Bruker Corporation
- Hitachi, Ltd.
- HORIBA LTD.
- JASCO International Co., Ltd.
- PerkinElmer Inc.
- Shimadzu Corporation
- Thermo Fisher Scientific Inc.
- Lumex Instruments
- Carl Zeiss AG.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Technology , Product Type , and End user , Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Presently, North America held the largest revenue share of global IR spectroscopy market. The region attracts numerous technological developments in the field of IR spectroscopy which is making market grow in North America. For instance, Agilent Technologies, Inc. released MassHunter Workstation Plus 11.0, MassHunter BioConfirm, and MassHunter Networked Workstation 11.0 in 2021 to comply with regulatory requirements from the EU EMEA and US FDA. Similarly, presence of companies like Agilent Technologies, Inc., Bruker Corporation, and PerkinElmer, Inc. within the territory of the region will further raise the production and sales cycle of spectroscopes.
IR spectroscopes are the prominent spectroscopic technique used in healthcare & pharmaceutical industries. Owing to rising investments in diagnostics and biomedical research, the scope of IR spectroscopy market is expanding. As clinical and research instrumentation, optical spectroscopy, and sensing are the major part of life sciences, IR spectroscopy provides ideal means for real-time analysis and non-destructive sampling in labs. Additionally, increasing demand for IR spectroscopy from various pharmaceutical companies for integrating new age cloud-based devices is further propelling the IR spectroscopy market growth.
The healthcare is leading the global IR spectroscopy market. Healthcare is one of the prominent end users of IR spectroscopy. The IR spectroscopy in healthcare and pharmaceuticals sector is used to enhance lighting efficiency of the endoscopic instruments used for removing kidney stones, artery plaque, and others. Imaging and illumination components of endoscopes are prevalent application areas of IR spectroscopy in the healthcare industry.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 IR Spectroscopy Market – By Technology
1.3.2 IR Spectroscopy Market – By Product Type
1.3.3 IR Spectroscopy Market – By End-user
1.3.4 IR Spectroscopy Market- By Region
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. IR Spectroscopy Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America – PEST Analysis
4.2.2 Europe – PEST Analysis
4.2.3 Asia-Pacific – PEST Analysis
4.2.4 Middle East and Africa – PEST Analysis
4.2.5 South America – PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. IR Spectroscopy Market – Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Rising Applications in Pharmaceutical and Healthcare Industry
5.1.2 Growing scope of IR Spectroscopy in Asia Pacific Region
5.2 Key Market Restraints
5.2.1 High Cost of IR Spectroscopy Solutions
5.3 Key Market Opportunities
5.3.1 Upcoming Growth Opportunity in Food Industry
5.4 Future Trends
5.4.1 Advent of Portable/Handheld Spectrometers
5.5 Impact Analysis of Drivers and Restraints
6. IR Spectroscopy Market – Global Analysis
6.1 IR Spectroscopy Market Global Overview
6.2 IR Spectroscopy Market – Global Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning – Five Key Players
7. IR Spectroscopy Market Analysis – By Technology
7.1 Overview
7.2 IR Spectroscopy Market, By Technology (2020 and 2028)
7.3 Near-infrared
7.3.1 Overview
7.3.2 Near-infrared: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Mid-infrared
7.4.1 Overview
7.4.2 Mid-infrared: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Far-infrared
7.5.1 Overview
7.5.2 Far-infrared: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
8. IR Spectroscopy Market – By Product Type
8.1 Overview
8.2 IR Spectroscopy Market, by Product Type (2020 and 2028)
8.3 Benchtop Spectroscopes
8.3.1 Overview
8.3.2 Benchtop Spectroscopes: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Micro Spectroscopes
8.4.1 Overview
8.4.2 Micro Spectroscopes: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Portable Spectroscopes
8.5.1 Overview
8.5.2 Portable Spectroscopes: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Hyphenated Spectroscopes
8.6.1 Overview
8.6.2 Hyphenated Spectroscopes: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
9. IR Spectroscopy Market – By End-User
9.1 Overview
9.2 IR Spectroscopy Market, by End-User (2020 and 2028)
9.3 Healthcare
9.3.1 Overview
9.3.2 Healthcare: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Chemicals
9.4.1 Overview
9.4.2 Chemicals: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Oil and Gas
9.5.1 Overview
9.5.2 Oil and Gas: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Food and Beverages
9.6.1 Overview
9.6.2 Food and Beverages: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
9.7 Other End-Users
9.7.1 Overview
9.7.2 Other End-Users: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10. IR Spectroscopy Market – Geographic Analysis
10.1 Overview
10.2 North America: IR Spectroscopy Market
10.2.1 North America: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.2.2 North America: IR Spectroscopy Market- by Technology
10.2.3 North America: IR Spectroscopy Market- By Product Type
10.2.4 North America: IR Spectroscopy Market- By End-user
10.2.5 North America: IR Spectroscopy Market- by Key Country
10.2.5.1 US: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.2.5.1.1 US: IR Spectroscopy Market- by Technology
10.2.5.1.2 US: IR Spectroscopy Market- By Product Type
10.2.5.1.3 US: IR Spectroscopy Market- By End-user
10.2.5.2 Canada: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.2.5.2.1 Canada: IR Spectroscopy Market- by Technology
10.2.5.2.2 Canada: IR Spectroscopy Market- By Product Type
10.2.5.2.3 Canada: IR Spectroscopy Market- By End-user
10.2.5.3 Mexico: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.2.5.3.1 Mexico: IR Spectroscopy Market- by Technology
10.2.5.3.2 Mexico: IR Spectroscopy Market- By Product Type
10.2.5.3.3 Mexico: IR Spectroscopy Market- By End-user
10.3 Europe: IR Spectroscopy Market
10.3.1 Europe: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.3.2 Europe: IR Spectroscopy Market- by Technology
10.3.3 Europe: IR Spectroscopy Market- By Product Type
10.3.4 Europe: IR Spectroscopy Market- By End-user
10.3.5 Europe: IR Spectroscopy Market- by Key Country
10.3.5.1 Germany: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.3.5.1.1 Germany: IR Spectroscopy Market- by Technology
10.3.5.1.2 Germany: IR Spectroscopy Market- By Product Type
10.3.5.1.3 Germany: IR Spectroscopy Market- By End-user
10.3.5.2 France: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.3.5.2.1 France: IR Spectroscopy Market- by Technology
10.3.5.2.2 France: IR Spectroscopy Market- By Product Type
10.3.5.2.3 France: IR Spectroscopy Market- By End-user
10.3.5.3 Italy: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.3.5.3.1 Italy: IR Spectroscopy Market- by Technology
10.3.5.3.2 Italy: IR Spectroscopy Market- By Product Type
10.3.5.3.3 Italy: IR Spectroscopy Market- By End-user
10.3.5.4 UK: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.3.5.4.1 UK: IR Spectroscopy Market- by Technology
10.3.5.4.2 UK: IR Spectroscopy Market- By Product Type
10.3.5.4.3 UK: IR Spectroscopy Market- By End-user
10.3.5.5 Russia: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.3.5.5.1 Russia: IR Spectroscopy Market- by Technology
10.3.5.5.2 Russia: IR Spectroscopy Market- By Product Type
10.3.5.5.3 Russia: IR Spectroscopy Market- By End-user
10.3.5.6 Rest of Europe: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.3.5.6.1 Rest of Europe: IR Spectroscopy Market- by Technology
10.3.5.6.2 Rest of Europe: IR Spectroscopy Market- By Product Type
10.3.5.6.3 Rest of Europe: IR Spectroscopy Market- By End-user
10.4 APAC: IR Spectroscopy Market
10.4.1 APAC: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.4.2 APAC: IR Spectroscopy Market- by Technology
10.4.3 APAC: IR Spectroscopy Market- By Product Type
10.4.4 APAC: IR Spectroscopy Market- By End-user
10.4.5 APAC: IR Spectroscopy Market- by Key Country
10.4.5.1 Australia: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.4.5.1.1 Australia: IR Spectroscopy Market- by Technology
10.4.5.1.2 Australia: IR Spectroscopy Market- By Product Type
10.4.5.1.3 Australia: IR Spectroscopy Market- By End-user
10.4.5.2 China: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.4.5.2.1 China: IR Spectroscopy Market- by Technology
10.4.5.2.2 China: IR Spectroscopy Market- By Product Type
10.4.5.2.3 China: IR Spectroscopy Market- By End-user
10.4.5.3 India: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.4.5.3.1 India: IR Spectroscopy Market- by Technology
10.4.5.3.2 India: IR Spectroscopy Market- By Product Type
10.4.5.3.3 India: IR Spectroscopy Market- By End-user
10.4.5.4 Japan: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.4.5.4.1 Japan: IR Spectroscopy Market- by Technology
10.4.5.4.2 Japan: IR Spectroscopy Market- By Product Type
10.4.5.4.3 Japan: IR Spectroscopy Market- By End-user
10.4.5.5 South Korea: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.4.5.5.1 South Korea: IR Spectroscopy Market- by Technology
10.4.5.5.2 South Korea: IR Spectroscopy Market- By Product Type
10.4.5.5.3 South Korea: IR Spectroscopy Market- By End-user
10.4.5.6 Rest of APAC: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.4.5.6.1 Rest of APAC: IR Spectroscopy Market- by Technology
10.4.5.6.2 Rest of APAC: IR Spectroscopy Market- By Product Type
10.4.5.6.3 Rest of APAC: IR Spectroscopy Market- By End-user
10.5 MEA: IR Spectroscopy Market
10.5.1 MEA: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.5.2 MEA: IR Spectroscopy Market- by Technology
10.5.3 MEA: IR Spectroscopy Market- By Product Type
10.5.4 MEA: IR Spectroscopy Market- By End-user
10.5.5 MEA: IR Spectroscopy Market- by Key Country
10.5.5.1 South Africa: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.5.5.1.1 South Africa: IR Spectroscopy Market- by Technology
10.5.5.1.2 South Africa: IR Spectroscopy Market- By Product Type
10.5.5.1.3 South Africa: IR Spectroscopy Market- By End-user
10.5.5.2 Saudi Arabia: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.5.5.2.1 Saudi Arabia: IR Spectroscopy Market- by Technology
10.5.5.2.2 Saudi Arabia: IR Spectroscopy Market- By Product Type
10.5.5.2.3 Saudi Arabia: IR Spectroscopy Market- By End-user
10.5.5.3 UAE: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.5.5.3.1 UAE: IR Spectroscopy Market- by Technology
10.5.5.3.2 UAE: IR Spectroscopy Market- By Product Type
10.5.5.3.3 UAE: IR Spectroscopy Market- By End-user
10.5.5.4 Rest of MEA: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.5.5.4.1 Rest of MEA: IR Spectroscopy Market- by Technology
10.5.5.4.2 Rest of MEA: IR Spectroscopy Market- By Product Type
10.5.5.4.3 Rest of MEA: IR Spectroscopy Market- By End-user
10.6 SAM: IR Spectroscopy Market
10.6.1 SAM: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.6.2 SAM: IR Spectroscopy Market- by Technology
10.6.3 SAM: IR Spectroscopy Market- By Product Type
10.6.4 SAM: IR Spectroscopy Market- By End-user
10.6.5 SAM: IR Spectroscopy Market- by Key Country
10.6.5.1 Brazil: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.6.5.1.1 Brazil: IR Spectroscopy Market- by Technology
10.6.5.1.2 Brazil: IR Spectroscopy Market- By Product Type
10.6.5.1.3 Brazil: IR Spectroscopy Market- By End-user
10.6.5.2 Argentina: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.6.5.2.1 Argentina: IR Spectroscopy Market- by Technology
10.6.5.2.2 Argentina: IR Spectroscopy Market- By Product Type
10.6.5.2.3 Argentina: IR Spectroscopy Market- By End-user
10.6.5.3 Rest of SAM: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.6.5.3.1 Rest of SAM: IR Spectroscopy Market- by Technology
10.6.5.3.2 Rest of SAM: IR Spectroscopy Market- By Product Type
10.6.5.3.3 Rest of SAM: IR Spectroscopy Market- By End-user
11. IR Spectroscopy Market- COVID-19 Impact Analysis
11.1 Overview
11.2 North America
11.3 Europe
11.4 Asia Pacific
11.5 Middle East and Africa
11.6 South America
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
13. Company Profiles
13.1 Agilent Technologies, Inc.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Bruker Corporation
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Hitachi, Ltd.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Horiba, Ltd.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 JASCO International Co., Ltd.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 PerkinElmer, Inc.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Shimadzu Corporation
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Thermo Fisher Scientific Inc.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Lumex Instruments
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Carl Zeiss AG
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. IR Spectroscopy Market – Revenue, and Forecast to 2028 (US$ Million)
Table 2. North America: IR Spectroscopy Market- by Technology – Revenue and Forecast to 2028 (US$ Million)
Table 3. North America: IR Spectroscopy Market- By Product Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. North America: IR Spectroscopy Market- By End-user – Revenue and Forecast to 2028 (US$ Million)
Table 5. US: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 6. US: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)
Table 7. US: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 8. Canada: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 9. Canada: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)
Table 10. Canada: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 11. Mexico: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 12. Mexico: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)
Table 13. Mexico: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 14. Europe: IR Spectroscopy Market- by Technology – Revenue and Forecast to 2028 (US$ Million)
Table 15. Europe: IR Spectroscopy Market- By Product Type – Revenue and Forecast to 2028 (US$ Million)
Table 16. Europe: IR Spectroscopy Market- By End-user – Revenue and Forecast to 2028 (US$ Million)
Table 17. Germany: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 18. Germany: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)
Table 19. Germany: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 20. France: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 21. France: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)
Table 22. France: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 23. Italy: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 24. Italy: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)
Table 25. Italy: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 26. UK: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 27. UK: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)
Table 28. UK: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 29. Russia: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 30. Russia: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)
Table 31. Russia: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 32. Rest of Europe: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 33. Rest of Europe: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)
Table 34. Rest of Europe: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 35. APAC: IR Spectroscopy Market- by Technology – Revenue and Forecast to 2028 (US$ Million)
Table 36. APAC: IR Spectroscopy Market- By Product Type – Revenue and Forecast to 2028 (US$ Million)
Table 37. APAC: IR Spectroscopy Market- By End-user – Revenue and Forecast to 2028 (US$ Million)
Table 38. Australia: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 39. Australia: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)
Table 40. Australia: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 41. China: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 42. China: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)
Table 43. China: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 44. India: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 45. India: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)
Table 46. India: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 47. Japan: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 48. Japan: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)
Table 49. Japan: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 50. South Korea: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 51. South Korea: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)
Table 52. South Korea: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 53. Rest of APAC: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 54. Rest of APAC: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)
Table 55. Rest of APAC: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 56. MEA: IR Spectroscopy Market- by Technology– Revenue and Forecast to 2028 (US$ Million)
Table 57. MEA: IR Spectroscopy Market- By Product Type – Revenue and Forecast to 2028 (US$ Million)
Table 58. MEA: IR Spectroscopy Market- By End-user – Revenue and Forecast to 2028 (US$ Million)
Table 59. South Africa: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 60. South Africa: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)
Table 61. South Africa: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 62. Saudi Arabia: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 63. Saudi Arabia: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)
Table 64. Saudi Arabia: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 65. UAE: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 66. UAE: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)
Table 67. UAE: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 68. Rest of MEA: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 69. Rest of MEA: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)
Table 70. Rest of MEA: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 71. SAM: IR Spectroscopy Market- by Technology – Revenue and Forecast to 2028 (US$ Million)
Table 72. SAM: IR Spectroscopy Market- By Product Type – Revenue and Forecast to 2028 (US$ Million)
Table 73. SAM: IR Spectroscopy Market- By End-user – Revenue and Forecast to 2028 (US$ Million)
Table 74. Brazil: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 75. Brazil: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)
Table 76. Brazil: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 77. Argentina: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 78. Argentina: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)
Table 79. Argentina: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 80. Rest of SAM: IR Spectroscopy Market- by Technology–Revenue and Forecast to 2028 (US$ Million)
Table 81. Rest of SAM: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)
Table 82. Rest of SAM: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 83. List of Abbreviation
LIST OF FIGURES
Figure 1. IR Spectroscopy Market Segmentation
Figure 2. IR Spectroscopy Market Segmentation – By Geography
Figure 3. Global IR Spectroscopy Market Overview
Figure 4. Mid-infrared Segment Held the Largest Market Share in 2020
Figure 5. Benchtop Spectroscopes Held the Largest Market Share in 2020
Figure 6. Healthcare End-user Held the Largest Market Share in 2020
Figure 7. North America was the Largest Revenue Contributor in 2020
Figure 8. North America – PEST Analysis
Figure 9. Europe – PEST Analysis
Figure 10. Asia-Pacific – PEST Analysis
Figure 11. Middle East and Africa – PEST Analysis
Figure 12. South America – PEST Analysis
Figure 13. IR Spectroscopy Market– Ecosystem Analysis
Figure 14. Expert Opinion
Figure 15. IR Spectroscopy Market: Impact Analysis of Drivers and Restraints
Figure 16. Geographic Overview of IR Spectroscopy Market
Figure 17. Global IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. IR Spectroscopy Market Revenue Share, by Technology (2020 and 2028)
Figure 19. Near-infrared: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Mid-infrared IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Far-infrared IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. IR Spectroscopy Market Revenue Share, by Product Type (2020 and 2028)
Figure 23. Benchtop Spectroscopes: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Micro Spectroscopes: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Portable Spectroscopes: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Hyphenated Spectroscopes: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. IR Spectroscopy Market Revenue Share, by End-User (2020 and 2028)
Figure 28. Healthcare: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Chemicals: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Oil and Gas: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Food and Beverages: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Other End-Users: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. IR Spectroscopy Market Revenue Share, By Region (2020 and 2028)
Figure 34. North America: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 35. North America: IR Spectroscopy Market Revenue Share, by Technology (2020 and 2028)
Figure 36. North America: IR Spectroscopy Market Revenue Share, By Product Type (2020 and 2028)
Figure 37. North America: IR Spectroscopy Market Revenue Share, By End-user (2020 and 2028)
Figure 38. North America: IR Spectroscopy Market Revenue Share, by Key Country (2020 and 2028)
Figure 39. US: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 40. Canada: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 41. Mexico: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 42. Europe: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 43. Europe: IR Spectroscopy Market Revenue Share, By Technology (2020 and 2028)
Figure 44. Europe: IR Spectroscopy Market Revenue Share, By Product Type (2020 and 2028)
Figure 45. Europe: IR Spectroscopy Market Revenue Share, By End-user (2020 and 2028)
Figure 46. Europe: IR Spectroscopy Market Revenue Share, By Key Country (2020 and 2028)
Figure 47. Germany: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 48. France: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 49. Italy: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 50. UK: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 51. Russia: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 52. Rest of Europe: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 53. APAC: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 54. APAC: IR Spectroscopy Market Revenue Share, By Technology (2020 and 2028)
Figure 55. APAC: IR Spectroscopy Market Revenue Share, By Product Type (2020 and 2028)
Figure 56. APAC: IR Spectroscopy Market Revenue Share, By End-user (2020 and 2028)
Figure 57. APAC: IR Spectroscopy Market Revenue Share, By Key Country (2020 and 2028)
Figure 58. Australia: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 59. China: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 60. India: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 61. Japan: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 62. South Korea: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 63. Rest of APAC: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 64. MEA: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 65. MEA: IR Spectroscopy Market Revenue Share, By Technology (2020 and 2028)
Figure 66. MEA: IR Spectroscopy Market Revenue Share, By Product Type (2020 and 2028)
Figure 67. MEA: IR Spectroscopy Market Revenue Share, By End-user (2020 and 2028)
Figure 68. MEA: IR Spectroscopy Market Revenue Share, By Key Country (2020 and 2028)
Figure 69. South Africa: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 70. Saudi Arabia: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 71. UAE: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 72. Rest of MEA: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 73. SAM: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 74. SAM: IR Spectroscopy Market Revenue Share, By Technology (2020 and 2028)
Figure 75. SAM: IR Spectroscopy Market Revenue Share, By Product Type (2020 and 2028)
Figure 76. SAM: IR Spectroscopy Market Revenue Share, By End-user (2020 and 2028)
Figure 77. SAM: IR Spectroscopy Market Revenue Share, By Key Country (2020 and 2028)
Figure 78. Brazil: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 79. Argentina: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 80. Rest of SAM: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 81. Impact of COVID-19 Pandemic in North American Country Markets
Figure 82. Impact of COVID-19 Pandemic in Europe Country Markets
Figure 83. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
Figure 84. Impact of COVID-19 Pandemic in Middle East and Africa Country Markets
Figure 85. Impact of COVID-19 Pandemic in South America Country Markets
The List of Companies - IR Spectroscopy Market
- Agilent Technologies, Inc.
- Bruker Corporation
- Hitachi, Ltd.
- HORIBA LTD.
- JASCO International Co., Ltd.
- PerkinElmer Inc.
- Shimadzu Corporation
- Thermo Fisher Scientific Inc.
- Lumex Instruments
- Carl Zeiss AG
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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