Process Spectroscopy Market: Molecular Spectroscopy Led And Accounted For Share Of The Global Revenue

 Process Spectroscopy Industry Overview

The global process spectroscopy market size was valued at USD 17.84 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.09% from 2022 to 2030. The total number of shipments was 691,500 units in 2021 which is expected to reach 1,361,573 units by 2030. The rising focus on matching the international standards for meeting the quality across the industries and increasing developments of handheld and portable instruments has contributed to the market growth across the globe. The market is expected to expand owing to the ability of spectrometers to analyze, monitor, and control processes along with identifying defects in the product materials and enhancing the quality of the product.

Process spectroscopy is a technique involving the application of spectroscopy which include studying the interaction between matter and electromagnetic radiation. The notable market growth can be accredited to the increasing adoption of spectroscopic techniques in the pharmaceutical and food & agriculture sectors. The growing awareness of quality food & drugs and various rules and regulations being imposed by the government & related organizations are the key factors expected to drive the growth of the global market.


Gather more insights about the market drivers, restrains and growth of the Global Process Spectroscopy market

 

Spectroscopy techniques have always been intense fields for researchers, aiming toward continuous up gradations and innovations, enhancing the techniques day by day. Their research and improvisations have led to numerous discoveries in a wide range of applications. The industries, such as pharmaceuticals, chemicals, oil & gas, and food & drug, have reached several considerable milestones, owing to the advancements in process spectroscopic techniques. The forensics department is another sector that has significantly benefitted through spectroscopic techniques.

Spectroscopy instrument is witnessing increased adoption in the pharmaceutical industry due to Process Analytical Technology (PAT) guidelines by the FDA framework. Raman spectroscopy instrument is popular in the pharmaceutical industry due to its low cost of analysis and high accuracy. It is witnessing a high demand from the agricultural industry owing to its ability to enable non-destructive extraction of physical and chemical data about the samples, helping to the faster analysis. The handheld and portable instruments are anticipated to gain market shares. These instruments use Wi-Fi connectivity to transfer the data to the connected device.



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Process Spectroscopy Market Segmentation

Grand View Research has segmented the global process spectroscopy market based on technology, application, component, and region:

Technology Outlook (Shipment, Units; ASP, USD; Revenue, USD Billion, 2017 - 2030)

  • Molecular Spectroscopy
    • NIR
    • FT-IR

Raman

  • NMR
  • Others
  • Mass Spectroscopy
  • Atomic Spectroscopy

Application Outlook (Revenue, USD Billion, 2017 - 2030)

  • Polymer
  • Oil & Gas
  • Pharmaceutical
  • Food & Agriculture
  • Chemical
  • Water & Wastewater
  • Pulp & Paper
  • Metal & Mining
  • Others

Component Outlook (Revenue, USD Billion, 2017 - 2030)

  • Hardware
  • Software

Regional Outlook (Revenue, USD Billion, 2017 - 2030)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Market Share Insights:

  • August 2021: Danaher Corporation announced that the company has acquired Aldevron. Aldevron would be branded within the Life Science segment of Danaher Corporation and operate as a standalone company.

 

Key Companies profiled:

Some prominent players in the global process spectroscopy market include:

  • ABB Group
  • Agilent Technologies, Inc.
  • Bruker
  • Buchi Labortechnik AG
  • Danaher Corporation
  • Foss
  • HORIBA, Ltd
  • Kaiser Optical Systems, Inc
  • Kett Electric Laboratory
  • Sartorius AG
  • Shimadzu Corporation
  • Thermo Fisher Scientific, Inc.
  • Yokogawa Electric Corporation

 

 

Order a free sample PDF of the Process Spectroscopy Market Intelligence Study, published by Grand View Research.


About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.


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