LONDON, Oct. 18, 2016 /PRNewswire/ -- The global UV/visible spectroscopy market is expected to reach USD 1,163.2 million in 2021 from USD 944.2 million in 2016 growing at a CAGR of 4.3%. Over the years, factors such as application of UV/visible spectroscopy in environmental testing, growing application of the systems and accessories in pharmaceuticals and biotechnology industries, technological advancements in instruments, and growing need of food analysis are expected to drive the global market. In addition, development of microvolume sampling- capable instruments, growing opportunities in emerging nations, increasing investments into the field of molecular diagnostics and emergence of biobanking has provided growth opportunities to the market. However, the dearth of skilled professionals and longevity of instruments hinder the market growth.
In 2016, the single-beam systems segment is expected to account for the largest share of the UV/visible spectroscopy market, by instrument type and the industrial applications segment is expected to account for the largest share of the UV/visible spectroscopy market, by application.
In 2016, North America is expected to account for the largest share of the global UV/visible spectroscopy market, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). In the coming years, the UV/visible spectroscopy is expected to witness the highest growth rate in the Asia-Pacific region. The high growth in these regions can be attributed to entry of key market players into this market, growing food safety and environmental pollution concerns and budding life science R&D sector in this region.
The global UV/visible spectroscopy market witnessed various new product offerings offered by big and small firms. Product launches; expansions; agreements, partnerships, and collaborations; acquisitions, and other strategies (certification and business restructure) were the key developments undertaken by the companies to increase their market shares and to establish a strong foothold in the global market.
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The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help the firms in garnering a greater market share. Firms purchasing the report could use any one or a combination of the below mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios and services offered by the top 10 players in the UV/visible spectroscopy market. The report analyzes UV/visible spectroscopy by Instrument type, and application.
- Product Development/Innovation: Detailed insights on the upcoming technologies, expansions, research and development activities, and new product launches in the UV/visible spectroscopy market.
- Market Development: Comprehensive information about the lucrative emerging markets. The report analyzes the markets for the UV/visible spectroscopy systems and accessories used for academic and industrial applications across geographies.
- Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the UV/visible spectroscopy market.
- Competitive Assessment: In-depth assessment of market shares, strategies, products and services, distribution networks, and manufacturing capabilities of leading players in the UV/visible spectroscopy market.
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