IR Spectroscopy Market to hit $1.99Bn, Globally, by 2028 – Exclusive Report by The Insight Partners

The IR spectroscopy market was valued at US$ 1.24 billion in 2020 and is expected to grow at a CAGR of 6.3% during the forecast period of 2021 to 2028 to reach US$ 1.99 billion by 2028.


New York, July 28, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “IR Spectroscopy Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Technology (Near-Infrared, Mid-Infrared, and Far-Infrared), Product Type (Benchtop Spectroscopes, Micro Spectroscopes, Portable Spectroscopes, and Hyphenated Spectroscopes), and End user (Healthcare, Chemicals, Oil & Gas, Food & Beverages, and Other End users), Geography The global IR spectroscopy market growth is driven by rising investments in diagnostics and biomedical research, the scope of IR spectroscopy market is expanding.


Request Sample PDF Brochure of IR Spectroscopy Market Size - COVID-19 Impact and Global Analysis with Strategic Developments at: https://www.theinsightpartners.com/sample/TIPRE00017506


Market Size Value in US$ 1.24 billion in 2020
Market Size Value by US$ 1.99 billion by 2028
Growth rate CAGR of 6.3% from 2021-2028
Forecast Period 2021-2028
Base Year 2021
No. of Pages 174
No. Tables 83
No. of Charts & Figures 85
Historical data available Yes
Segments covered Technology , Product Type , and End user , Geography
Regional scope North America; Europe; Asia Pacific; Latin America; MEA
Country scope US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends


Spectroscopy is paving the path of sampling for testing purpose in varied applications, including healthcare and medical research. In mentioned applications, spectroscopy is used as a tool for enhancing diagnostics, sensing, and disease detection. In the past few years, many advancements have evolved spectroscopes from near-IR to UV-VIS for biomedical and several other applications. Factors such as growing number of medical facilities and clinical research centers across the world to better serve the needs of patients and medical staff and increasing investments in healthcare & pharmaceutical industries to encourage R&D in mentioned industries are contributing toward the market growth. Also, the Asian market houses varied industries—ranging from manufacturing to oil & gas—which is further raising the demand for IR spectroscopes for testing and sampling purposes. Moreover, the emergence of lightweight and compact portable/handheld spectroscopes to assist in on-field applications is another factor anticipated to bring growth prospects for the manufacturers and providers of IR spectroscopy. Also, rising number of food processing units and increasing dairy operations across the world are creating significant opportunities for the IR spectroscopy manufacturers, which, in turn, is expected to propel the growth of the IR spectroscopy market during the forecast period.  


Inquiry Before Purchase: https://www.theinsightpartners.com/inquiry/TIPRE00017506/


Various IR spectroscope manufacturers are developing technology and systems to enhance the analyzing efficiencies. High cost involved in the development of IR spectroscopes is one of the significant challenges faced by IR spectroscopes manufacturers. Among Raman, NIR, and SWIR cameras, the price of NIR spectroscopy products is comparatively high. As NIR spectroscopy products utilize indium gallium arsenide (InGaAs) sensors and expensive glass lens, the total cost of NIR spectroscopy products ends up being high, which may act as a restraining factor for the growth of the IR spectroscopy market. Additionally, life span of IR spectroscopy devices is ~5–7 years, which creates a necessity for end-use industries to procure used IR spectroscopes instead of purchasing new ones. As used IR spectroscopes are easily available in the market, the end-user industries are getting more inclined toward using them. Also, owing to the easy availability of various used spectroscopy devices for resale; the final end-user industries are getting inclined toward using used devices over purchasing new ones. Thus, high price, availability of used spectroscopes, and less average life span might hamper the IR spectroscopy market.

Major players operating in the global IR spectroscopy market include Agilent Technologies, Inc.; Bruker Corporation; Hitachi, Ltd.; HORIBA LTD.; JASCO International Co., Ltd.; PerkinElmer Inc.; Shimadzu Corporation; Thermo Fisher Scientific Inc.; Lumex Instruments; and Carl Zeiss AG


Avail Lucrative DISCOUNTS on “IR Spectroscopy Market” Research Study: https://www.theinsightpartners.com/discount/TIPRE00017506/


Portable spectrometers or handheld spectrometers enable the researchers to analyze varied samples on the go. Identification of raw materials, field analysis of samples, and forensic analysis, are among the applications of portable spectroscopes. Moreover, portable spectroscopes provide analysis capabilities similar to benchtop models. In the last few years, the IR spectroscopy has witnessed the arrival of handheld/portable laser-induced breakdown spectroscopy (LIBS) and smartphone spectroscopy concentrating on medical diagnostics for low-resource areas. The emergence and capabilities of portable instruments have increased drastically in the last 20 years, along with becoming compact and lighter. Pertaining to the factors such as developments in computing power, consumer electronics, constant R&D, and manufacturing advancement for the production of instruments are contributing toward the adoption of portable spectroscopy.

The COVID-19 crisis is affecting the industries worldwide. The global economy took the worst hit in 2020 and it is likely to continue in 2021. The outbreak has created significant disruptions in primary industries such as food & beverages, medical, energy & power, electronics & semiconductor, petroleum, and chemicals. A sharp decline in the growth of mentioned industrial activities is impacting the growth of the global IR spectroscopy market as they are the major supply and demand sources for IR spectroscopy products and solutions. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the outbreak have impacted manufacturing, supply, and sales of various electronic components that are required for the manufacturing of IR spectroscopy.


Directly Purchase Premium Copy of IR Spectroscopy Market Growth Report (2022-2028) at: https://www.theinsightpartners.com/buy/TIPRE00017506



Browse Adjoining Reports:
Spectrometry Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Mass Spectrometry, Atomic Spectrometry, Molecular Spectrometry, and Others); Application (Biotechnology, Pharmaceuticals, Environmental Testing, Industrial Chemistry, Food and Beverages Testing, and Others); End Use (Government and Academic Institutions, Pharmaceutical and Biotechnology Companies, and Others), and Geography

Atomic Spectroscopy Market Forecast to 2028 - Covid-19 Impact and Global Analysis - By Application (Food & Beverage Testing, Petrochemical, Geochemical/Mining, Pharmaceuticals & Biotechnology and Others), Technology (Atomic Absorption Spectroscopy (AAS), X-Ray Fluorescence (XRF), X-Ray Diffraction (XRD), Inductively Coupled Plasma-Optical Emission Spectroscopy (ICP-OES), Others) and Geography

X-Ray Spectrometer Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Fixed X-Ray Spectrometer, Portable X-Ray Spectrometer); System (Energy Dispersive System, Wavelength Dispersive System); End User (Hospitals, Research and Clinical Laboratories, Academic),and Geography

Near Infrared Spectroscopy Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Benchtop Spectroscopes, Portable Spectroscopes, Others); End-user (Healthcare, Chemicals, Food and Beverages, Others) and Geography

UV Visible Spectroscopy Market Forecast to 2028 - Covid-19 Impact and Global Analysis By Type (Dual-Beam Systems, Single-Beam Systems, Array-Based Systems, Handheld Systems); Application (Industrial Applications, Physical Chemistry Studies, Life Science Studies, Environmental studies, Academic Applications, Life Science RandD, Quality Assurance/ Quality Control, Production) and Geography

In-line UV-vis Spectroscopy Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (Chemical Concentration, Color Measurement, Thickness Measurement, Turbidity and Haze Measurement); End-Use (Plastics Market, Chemical Industry, Food and Beverages, Pharmaceutical Industry, Painting and Coating Industry, Others)

Spectrophotometers Market to 2028 - Global Analysis and Forecasts by Technology (Molecular Spectrometry, Atomic Spectrometry, Mass Spectrometry); Application (Pharmaceutical, Biotechnological, Industrial, Space, Environmental, Others); Type (Portable, Bench-top) and Geography

Process Spectroscopy Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Technology (Molecular Spectroscopy, Mass Spectroscopy, Atomic Spectroscopy); Component (Hardware, Software); Application (Oil and Gas, Pharmaceuticals, Food and Agriculture, Chemicals, Water and Wastewater, Pulp and Paper, Metal and Mining, Others) and Geography

Molecular Spectroscopy Market Forecast to 2028 - Covid-19 Impact and Global Analysis - By Technology (Infrared Spectroscopy, UV-Visible Spectroscopy, Nuclear Magnetic Resonance Spectroscopy, Near-Infrared Spectroscopy, Raman Spectroscopy, Others); Application (Biotechnology Applications, Pharmaceutical Applications, Academic and Research Applications, Others)



About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Contact Us:
If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/ir-spectroscopy-market/