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Global IR spectroscopy market is expected to reach $ 1.3billion by 2027

Global IR spectroscopy market is expected to reach $ 1.3billion by 2027

Product Code: OIRIGS-11222069
Publish Date: 11-07-2021
Page: 200

Global IR spectroscopy market is expected to reach $ 1.3billion by 2027.Global IR spectroscopy market is valued approximately at $1.0 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 4.1% over the forecast period 2021-2027. IR (infrared) spectroscopy deals with the measurement of the infrared radiation interaction with matter through emission, reflection or absorption which further assists in the study and identification of functional groups or chemical substances in solid, liquid or gas. Infrared refers to the electromagnetic radiation which has wavelengths longer than visible light. The global IR spectroscopy market is being driven by increase in research and development investments in healthcare as well as pharmaceuticals industry and technological advancements in IR spectroscopy. Furthermore, product development for biological research will provide new opportunities for the global IR spectroscopy industry. There have been some recent technological advancements and innovation in IR spectroscopy. For instance, as per the National Center for Biotechnology Information Paper 2019, the availability and adoption of new components in spectroscopy(quantum cascade lasers, synchrotrons, etc.) has led to instrumentation diversity and understanding of image formation has led to advanced designs. Its advantages include expansion in capability and possibilities for analytical measurements. Also, adoption of ultrafast laser sources has led to advancements in 2D IR spectroscopy such as in chemical structure and dynamics. Such technological advancements are expected to increase the demand for IR spectroscopy across end users which in turn is likely to drive the market. However, technical limitations of IR spectroscopy may impede market growth over the forecast period of 2021-2027.

The regional analysis of the global IR spectroscopy market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region across the world in terms of market share due to investments in research and development activities, adoption of IR spectroscopy products and solutions in the food & beverages industry in the region, etc. Whereas Asia Pacific is anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to growth of the food & beverage and pharmaceuticals industries in the region.
Major market player included in this report are:

Shimadzu Corporation
Agilent Technologies
Bruker Corporation
Horiba Ltd
PerkinElmer, Inc.
Hitachi High-Technologies Corporation
Jasco Inc.
Thermo Fisher Scientific
Sartorius AG

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Technology:
By Product Type:
Benchtop Spectroscopes
Micro Spectroscopes
Portable Spectroscopes
Hyphenated Spectroscopes
By End User:
Healthcare & pharmaceuticals
Biological Research
Consumer Electronics
Food & Beverages
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.

Target Audience of the Global IR Spectroscopy Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. IR Spectroscopy Market, by Region, 2019-2027 (USD Billion)
1.2.2. IR Spectroscopy Market, by Technology, 2019-2027 (USD Billion)
1.2.3. IR Spectroscopy Market, by Product Type, 2019-2027 (USD Billion)
1.2.4. IR Spectroscopy Market, by End User, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global IR Spectroscopy Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global IR Spectroscopy Market Dynamics
3.1. IR Spectroscopy Market Impact Analysis (2019-2027)
3.1.1. Market Drivers Increase in R&D investments in healthcare & pharmaceuticals industry Technological advancements in IR spectroscopy
3.1.2. Market Restraint Technical limitations of IR spectroscopy
3.1.3. Market Opportunities Growing product development for biological research
Chapter 4. Global IR Spectroscopy Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global IR Spectroscopy Market, by Technology
a. Market Snapshot
5.1. Global IR Spectroscopy Market by Technology, Performance – Potential Analysis
5.2. Global IR Spectroscopy Market Estimates & Forecasts by Technology 2018-2027 (USD Billion)
5.3. IR Spectroscopy Market, Sub Segment Analysis
5.3.1. Near-infrared
5.3.2. Mid-infrared
5.3.3. Far-infrared
Chapter 6. Global IR Spectroscopy Market, by Product Type
6.1. Market Snapshot
6.2. Global IR Spectroscopy Market by Product Type, Performance – Potential Analysis
6.3. Global IR Spectroscopy Market Estimates & Forecasts by Product Type 2018-2027 (USD Billion)
6.4. IR Spectroscopy Market, Sub Segment Analysis
6.4.1. Benchtop Spectroscopes
6.4.2. Micro Spectroscopes
6.4.3. Portable Spectroscopes
6.4.4. Hyphenated Spectroscopes
Chapter 7. Global IR Spectroscopy Market, by End User
b. Market Snapshot
7.1. Global IR Spectroscopy Market by End User, Performance – Potential Analysis
7.2. Global IR Spectroscopy Market Estimates & Forecasts by End User 2018-2027 (USD Billion)
7.3. IR Spectroscopy Market, Sub Segment Analysis
7.3.1. Healthcare & pharmaceuticals
7.3.2. Chemicals
7.3.3. Biological Research
7.3.4. Environmental
7.3.5. Consumer Electronics
7.3.6. Food & Beverages
Chapter 8. Global IR Spectroscopy Market, Regional Analysis
8.1. IR Spectroscopy Market, Regional Market Snapshot
8.2. North America IR Spectroscopy Market
8.2.1. U.S. IR Spectroscopy Market Technology breakdown estimates & forecasts, 2018-2027 Product Type breakdown estimates & forecasts, 2018-2027 End User breakdown estimates & forecasts, 2018-2027
8.2.2. Canada IR Spectroscopy Market
8.3. Europe IR Spectroscopy Market Snapshot
8.3.1. U.K. IR Spectroscopy Market
8.3.2. Germany IR Spectroscopy Market
8.3.3. France IR Spectroscopy Market
8.3.4. Spain IR Spectroscopy Market
8.3.5. Italy IR Spectroscopy Market
8.3.6. Rest of Europe IR Spectroscopy Market
8.4. Asia-Pacific IR Spectroscopy Market Snapshot
8.4.1. China IR Spectroscopy Market
8.4.2. India IR Spectroscopy Market
8.4.3. Japan IR Spectroscopy Market
8.4.4. Australia IR Spectroscopy Market
8.4.5. South Korea IR Spectroscopy Market
8.4.6. Rest of Asia Pacific IR Spectroscopy Market
8.5. Latin America IR Spectroscopy Market Snapshot
8.5.1. Brazil IR Spectroscopy Market
8.5.2. Mexico IR Spectroscopy Market
8.6. Rest of The World IR Spectroscopy Market
Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Shimadzu Corporation Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Agilent Technologies
9.2.3. Bruker Corporation
9.2.4. Horiba Ltd
9.2.5. Perkinelmer, Inc.
9.2.6. Zeiss
9.2.7. Hitachi High-Technologies Corporation
9.2.8. Jasco Inc.
9.2.9. Thermo Fisher Scientific
9.2.10. Sartorius AG

Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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