IR Spectroscopy Market Growing at 6.5% CAGR to 2022

Aug 23, 2016, 01:30 ET from RnR Market Research

PUNE, India, August 23, 2016 /PRNewswire/ --

The worldwide IR spectroscopy market is expected to be valued at $ 1.26 billion by 2022, growing at a CAGR of 6.5% dominated by portable spectroscopes which is expected to gain maximum traction while North America accounted for the largest share of global IR spectroscopy market.

Complete report on global IR spectroscopy market spread across 135 pages, profiling 11 companies and supported with 38 tables and 75 figures is now available at

IR spectroscopy is used in various sectors such as biological, pharmaceuticals, chemicals, food & beverages, environmental, semiconductors, and others; of which the market for the biological sector is expected to grow at the highest CAGR during the forecast period. Factors such as advancements in the biotechnology and pharmaceuticals industries in the U.S., Germany, the U.K., and Italy are expected to drive the growth of the market during the forecast period.

The market for portable spectroscopes is expected to grow at a higher rate than that of the other IR spectroscopy types during the forecast period. The growth in this market is due the advantages of portable spectroscopes such as improved workflow, minimum space requirements, and less complications and efforts in maintenance. The portable IR instruments that are commonly available in the market involve Fourier transform mechanisms and are known as portable FT-IR. Bench top spectroscopy held the largest market share in 2015.

North America held the largest share of the IR spectroscopy market in 201. The market in North America is expected to dominate the global market during the forecast period. Increasing government funding for research, stringent drug regulations, and growing food safety concerns are some of the driving factors for the growth of the IR spectroscopy market in North America; whereas the market in APAC is expected to grow at the highest rate during the forecast period.

The increase in R&D investment in life science, regulatory framework for process analytical technology in the pharmaceuticals industry, and continuous technological advancements in IR spectroscopy are expected to drive the growth of the IR spectroscopy market in the next five years.

The key players operating in the IR spectroscopy market profiled in this report such as Agilent Technologies, Inc., Bruker Corp., Bayspec, Inc., Horiba, Ltd., Jasco Inc., Perkinelmer Inc., Princeton Instruments (PI), Spectra Analysis Instruments Inc., Teledyne Technologies Inc., Thermo Fisher Scientific Inc. and FOSS. Order a copy of IR Spectroscopy Market by Spectrum Sensitivity (NIR, Mid IR, and Far IR), Product Type (Benchtop, Micro, Portable, and Hyphenated), Vertical (Biological, Pharmaceuticals, Chemicals, Food & Beverages, Environmental), and Geography - Global Forecast to 2022 .

In the process of determining and verifying, the global IR spectroscopy market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (22%), Tier 2 (45%) and Tier 3 (33%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level (33%) and Director Level (22%) and others (45) from various key organizations operating in the global IR spectroscopy market. The primary interviews were conducted worldwide covering regions such as The Americas (34%), APAC (33%), Europe (22%), and Rest of World (11%).

On a related note, another research on Atomic Spectroscopy Market Analysis & Global Forecast to 2020 says, North America is expected to account for the largest share of the global atomic spectroscopy market, followed by Europe, Asia-Pacific, and the RoW. The overall market is poised to reach USD 5.60 Billion by 2020, growing at a CAGR of 6.0% during the forecast period of 2015 to 2020. The atomic absorption spectroscopy segment is expected to account for the largest share of the global atomic spectroscopy market. Companies like Agilent Technologies (U.S.), PerkinElmer (U.S.), Thermo Fisher Scientific (U.S.), and Bruker Corporation (U.S.) have been profiled in this 147 pages research report available at .

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