New York, March 03, 2021 (GLOBE NEWSWIRE) -- The global UV/Visible Spectroscopy Market is expected to be valued at USD 1.49 billion in 2028 from USD 1.00 Billion in 2020, registering a CAGR of 5.1% during the forecast period. The market is predominately propelled by the surging introduction of innovative products, surging need for ecological assessment, and increasing penetration of advanced instruments in the research sector. UV-visible spectroscopy is the most extensively used instrument technique in analytical chemistry across pharmaceutical companies and quality assurance bodies across the globe.
The wave-like electromagnetic radiation is extensively applied in analytical instruments to screen and identify foreign compounds and obtain quantitative data. UV-visible spectroscopy is extensively used in the pharmaceutical industry to screen for and detect the impurities in organic molecules and pure drug compounds. Accredited to the augmenting application of UV/Visible spectroscopy in the elucidation of various organic molecules and quantitative analysis, the demand for UV/Visible spectroscopy is projected to expand in the projected timeframe.
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UV/visible spectroscopy also offers an efficient tool for the quantitative and qualitative analysis of contaminants and pollutants in water and its environment. Moreover, due to higher precision, cost-efficiency, and portability, UV/Vis spectroscopy combined with other advanced technology has been proven to be highly efficacious in detecting pollutants and foreign substances in aqueous environments. This escalating progress of the technique in the chemical and analytical industry is further projected to bolster the industry’s expansion in the timeframe.
Key Highlights from the Report:
- The dual-beam spectrometers accurately and precisely perform sample assessment and blank corrections using sample and reference beams. This advantage of dual-beam spectroscopy has accelerated its adoption in the pharmaceutical and research institutions, thereby augmenting the segment’s growth.
- The rapid technological advancements, escalating automation of equipment, enhanced scalability, and flexibility have contributed to the rapid incorporation of UV/Visible spectroscopy for industrial purposes. Additionally, the augmenting use of the technique in quality assurance and quality checking is further adding traction to the segment’s expansion.
- Accelerated innovations in the biopharmaceutical sector, broad-spectrum pipeline products, and the increasing progress of molecular genetics have contributed to the pharmaceutical and biotechnology firms being the primary end-users of the market. With the increasing investment to upgrade the equipment and instruments and progressive R&D activities, the segment is poised to observe lucrative growth in the estimated timeline.
- Asia Pacific is foreseen to observe a significant growth in the estimated timeframe owing to the escalating demand for food screening and investigation, growing demand for a reduction in pollution, and the increasing R&D activities and research investments in the region. Additionally, the escalating rate of adoption of technologically upgraded instruments is further fueling the regional expansion.
- Major companies operating in the market include Bruker Corporation, Agilent Technologies, Mettler-Toledo, Shimadzu Corporation, Hitachi High-Technologies Corporation, PerkinElmer, Inc., Thermo Fisher Scientific, Inc., GBC Scientific Equipment, Bio-Rad Laboratories, Inc., Buck Scientific, and Cole-Parmer, among others.
- In 2019, Edinburg Instrument introduced a DS5 Dual-Beam UV-Vis Spectrophotometer, primarily for high-precision analytical applications.
- In April 2020, John Wiley and Sons, Inc. acquired the Informatics products including the spectroscopy software and spectral databases from Bio-Rad Laboratories. The acquisition is set to add expertise, informative content, and robust software solutions to Wiley’s Science Solutions segment.
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For the purpose of this report, Reports and Data has segmented the global UV/Visible Spectroscopy Market based on instrument, application, end-user, and region:
Instrument Outlook (Revenue, USD Billion; 2018-2028)
- Single-Beam
- Dual-Beam
- Array-Based Systems
- Others
Application Outlook (Revenue, USD Billion; 2018-2028)
- Academic
- Industrial
- Environmental Studies
- Others
End-User Outlook (Revenue, USD Billion; 2018-2028)
- Pharmaceutical and Biotechnology Organizations
- Academic and Research Institutions
- Others
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA
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