Global Infrared Spectroscopy Market, By Product Type (Benchtop IR Spectroscope, IR Microscopy, Portable IR Spectroscope, Hyphenated IR Spectroscope, and Terahertz IR Spectroscope), Spectrum (Near Infrared, Far Infrared, and Mid Infrared), Application (Pharma and Biotech, Food and Beverages, Environmental Testing, Academics, Security, Industrial, Petrochemicals, Semiconductors, and Others), Technology (Dispersive Infrared Spectroscopy and Fourier Transform Infrared (FTIR) Spectroscopy) – Industry Trends and Forecast to 2031.
Infrared Spectroscopy Market Analysis and Size
In the infrared spectroscopy market, technological advancements have propelled the development of innovative instruments, enhanced analytical capabilities and expanded application domains. This advancement enables precise molecular analysis and streamlines processes across industries, delivering notable advantages such as enhanced accuracy, efficiency, and deeper insights into chemical composition, thereby revolutionizing the way various sectors approach spectroscopic analysis.
For instance, in May 2022, the WHO reported 11% of medications in emerging markets as counterfeit, causing 144,000 deaths. Regulatory bodies such as Health Canada, the Dutch Medicines Authority, and the U.S.-FDA employ NIR spectroscopy for pharmaceutical authentication, emphasizing its role in combating counterfeit drugs and safeguarding public health.
The global infrared spectroscopy market size was valued at USD 1.09 billion in 2023, is projected to reach USD 1.57 billion by 2031, with a CAGR of 4.6% during the forecast period 2024 to 2031. This indicates that the market value. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Benchtop IR Spectroscope, IR Microscopy, Portable IR Spectroscope, Hyphenated IR Spectroscope, and Terahertz IR Spectroscope), Spectrum (Near Infrared, Far Infrared, and Mid Infrared), Application (Pharma and Biotech, Food and Beverages, Environmental Testing, Academics, Security, Industrial, Petrochemicals, Semiconductors, and Others), Technology (Dispersive Infrared Spectroscopy and Fourier Transform Infrared (FTIR) Spectroscopy)
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Countries Covered
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U.S., Canada Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America
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Market Players Covered
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Thermo Fisher Scientific (U.S.), Agilent Technologies, Inc. (U.S.), PerkinElmer, Inc. (U.S.), Medtronic (Ireland), Horiba (Japan), Teledyne FLIR LLC (U.S.), Shimadzu Corporation (Japan), Miltenyi Biotec (U.S.), Metrohm India Limited (Switzerland), Bruker (U.S.), Hitachi High-Tech Corporation (Japan), JASCO (Japan), Newport Corporation (U.S.), Bruker (U.S.), Abbott (U.S.), Oxford Instruments (U.K.), Quest Medical Imaging B.V. (Netherlands), Sartorius AG (Germany), and Teledyne Princeton Instruments (U.S.)
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Market Opportunities
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Market Definition
Infrared spectroscopy is a technique used to analyze the chemical composition of substances. It involves measuring molecules' absorption, emission, or reflection of infrared light. This provides information about molecular vibrations and structural characteristics, aiding in identifying and analyzing compounds in fields like chemistry, biology, and materials science.
Infrared Spectroscopy Market Dynamics
Drivers
- Increasing Demand in the Pharmaceutical Industry
Infrared spectroscopy is pivotal in pharmaceutical analysis, ensuring stringent quality control, precise raw material identification, and real-time process monitoring. For instance, it facilitates rapid identification of active pharmaceutical ingredients (APIs) and the detection of impurities, ensuring compliance with regulatory standards. Such applications underscore its indispensable role in pharmaceutical manufacturing, driving the market's upward trajectory through enhanced efficiency and product integrity.
- Quality Control in Chemical Industry
Infrared spectroscopy is vital in the chemical industry for quality control, enabling accurate compound identification, impurity detection, and reaction monitoring. This enhances product integrity and safety standards. For instance, in pharmaceutical manufacturing, infrared spectroscopy ensures the authenticity of raw materials and final products by identifying compounds and verifying their purity, thus maintaining regulatory compliance and consumer trust while driving market demand.
Opportunities
- Rising Applications in Environmental Testing
Growing environmental apprehensions worldwide drive the uptake of infrared spectroscopy for extensive environmental analysis and testing. From assessing soil contamination levels to monitoring air pollutants and evaluating water quality, infrared spectroscopy offers rapid and accurate analysis. For instance, it enables the identification of organic pollutants in soil, aiding in remediation efforts and ensuring the health of ecosystems and communities.
- Expanding Use in the Food and Beverage Industry
Infrared spectroscopy is increasingly adopted in the food and beverage industry for diverse applications, driving market expansion. It facilitates rapid and accurate food safety testing, ensuring compliance with regulatory standards. Moreover, enabling authenticity verification of food products and nutritional analysis enhances consumer trust. For instance, infrared spectroscopy is utilized to authenticate the origin and quality of olive oil, ensuring product integrity and consumer satisfaction.
Restraints/Challenges
- Interference from Water Vapour and CO2
Infrared spectroscopy's sensitivity to atmospheric water vapour and carbon dioxide interference presents challenges in ambient air analysis, undermining measurement accuracy and reproducibility. These interferences hinder target compounds' precise detection and quantification, complicating environmental monitoring and atmospheric research endeavours.
- Data Analysis and Software Limitations
Infrared spectroscopy encounters challenges in managing large datasets, automating processes, and integrating with other techniques or databases, particularly in diverse research domains and industries. Despite software enhancements, these hurdles persist, impeding seamless data processing and utilization. Such obstacles hinder interdisciplinary collaborations and limit the application of infrared spectroscopy in fields ranging from pharmaceuticals and materials science to environmental monitoring and forensics.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In July 2023, Bruker Optics unveiled MOBILE-IR II, a lightweight, rechargeable FT-IR spectrometer boasting laboratory-grade spectral performance. This portable device enables global users to execute both standard and unique FT-IR applications in the field, revolutionizing spectroscopic analysis beyond traditional laboratory confines
- In August 2022, Shimadzu Europe launched IRXross, a mid-level FTIR spectrophotometer distinguished by its exceptional signal-to-noise ratio, user-friendliness, rapid measurement capabilities, and high resolution. This instrument delivers top-tier performance, catering to diverse analytical needs with unparalleled efficiency
- In February 2022, ABB announced the MB3600 Fourier transform NIR spectrometer provision for cement raw material testing, funded by China's National Natural Science Foundation. This strategic move facilitates market penetration with a single product across multiple sectors, optimizing resource allocation and enhancing competitiveness
- In September 2020, Bruker Corporation acquired Canopy Biosciences, LLC, a leading provider of high multiplex biomarker imaging solutions for immuno-oncology, immunology, and cell therapy. This acquisition broadens Bruker's portfolio in multi-omics and fluorescence-based imaging technologies, reinforcing its position in advanced life science research and diagnostics
Infrared Spectroscopy Market Scope
The market is segmented on the basis of product type, spectrum, application, and technology. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Benchtop IR Spectroscope
- IR Microscopy
- Portable IR Spectroscope
- Hyphenated IR Spectroscope
- Terahertz IR Spectroscope
Spectrum
- Near Infrared
- Far Infrared
- Mid Infrared
Application
- Pharma and Biotech
- Food and Beverages
- Environmental Testing
- Academics, Security
- Industrial
- Petrochemicals
- Semiconductors
- Others
Technology
- Dispersive Infrared Spectroscopy
- Fourier Transform Infrared (FTIR) Spectroscopy
Infrared Spectroscopy Market Regional Analysis/Insights
The market is analysed and market size insights and trends are provided by country, product type, spectrum, application and technology as referenced above.
The countries covered in the market report are U.S., Canada Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America.
Asia-Pacific is expected to witness significant growth in the market during the forecast period. This surge is propelled by the rapid expansion of the pharmaceuticals and food and beverage industries, coupled with the burgeoning healthcare infrastructure in the region. These factors collectively contribute to increased adoption and demand for infrared spectroscopy technologies.
North America is expected to dominate the market due to its rapid technological development, advanced infrastructure, and thriving research industry. With a strong presence of high-tech firms and robust infrastructure, the region fosters innovation and adoption of infrared spectroscopy technologies, positioning itself as a leader in this market segment.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the market. The data is available for historic period 2016-2021.
Competitive Landscape and Infrared Spectroscopy Market Share Analysis
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.
Some of the major players operating in the market are:
- Thermo Fisher Scientific (U.S.)
- Agilent Technologies, Inc. (U.S.)
- PerkinElmer, Inc. (U.S.)
- Medtronic (Ireland)
- Horiba (Japan)
- Teledyne FLIR LLC (U.S.)
- Shimadzu Corporation (Japan)
- Miltenyi Biotec (U.S.)
- Metrohm India Limited (Switzerland)
- Bruker (U.S.)
- Hitachi High-Tech Corporation (Japan)
- JASCO (Japan)
- Newport Corporation (U.S.)
- Bruker (U.S.)
- Abbott (U.S.)
- Oxford Instruments (U.K.)
- Quest Medical Imaging B.V. (Netherlands)
- Sartorius AG (Germany)
- Teledyne Princeton Instruments (U.S.)
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