Global Raman Spectroscopy Market Research Report 2024(Status and Outlook)

Global Raman Spectroscopy Market Research Report 2024(Status and Outlook)

Report Overview

Raman Spectroscopy is a non-destructive chemical analysis technique which provides detailed information about chemical structure, phase and polymorphy, crystallinity and molecular interactions. It is based upon the interaction of light with the chemical bonds within a material.

A Raman spectrometer is an instrument that looks at the scattered laser light from a sample, filtering and detecting the light to gather information about chemical bonds in the sample. The spectrum from a Raman spectrometer acts as a fingerprint which can be used to identify or characterize a substance.

The global Raman Spectroscopy market size is projected to reach US$ 471.91 Million by 2028, from US$ 304.02 million in 2021, at a CAGR of 6.65% during 2022-2028.Increased focus on drug development in healthcare will be the main driver for Raman spectroscopy market growth. The analytical techniques offered by Raman spectroscopy are increasingly being implemented at different stages of drug discovery and development. This includes chemical identification, molecular research biology and diagnostics, preformulation, solid form screening, bioanalysis, formulation analysis in late-stage drug development, process analysis , quality control, raw material identification and counterfeit identification. Preformulation studies are an important part of the drug development process, which aims to understand the physicochemical properties of potential drugs to support formulation development for preclinical and clinical studies.

An important step in drug development is solid form screening, which aims to identify the optimal solid form of a potential drug compound as early as possible. This reduces complications in later stages of drug development. The lattice vibrations of the different solid forms produce unique and unique Raman spectra for each form. This makes Raman spectroscopy an important phenomenon in the pharmaceutical industry. In addition, Raman spectroscopy has been widely used to understand phase transitions, such as polymorphism changes, anhydrate-hydrate transitions, and to identify mechanisms of co- crystal formation.

At the same time, Various Research Activities, rising demand for cloud-based spectroscopy will also play a huge role in promoting the development of Raman spectroscopy. In addition to the above key drivers, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the raman spectroscopy market.

Despite its many advantages, Raman spectroscopy is still not favored for various applications. The main reason is the high cost associated with the Raman analyzer system. Raman analyzers are much more expensive than alternatives. This is due to the relatively high cost of excitation lasers and detectors. Maintenance costs for Raman systems can be higher due to the lifetime of the laser and associated replacement costs. Almost all analytical Raman systems are laser-like safety products.

However, Raman spectrometers are both non-destructive and non-contact, so there is no need for consumables or sample preparation, reducing their overall cost. Currently, the price range for high-resolution and high-signal-to-noise Raman analyzers is $40,000 and up. On the other hand, the market requires low-cost Raman analyzer systems as general-purpose laboratory tools. However, these systems are usually equipped with low-resolution, low-power visible-light lasers and low signal-to-noise ratios, which are insufficient for any high-performance chemical analysis. Therefore, better resolution and lower cost Raman systems are the keys to improving and increasing the acceptance and utilization of Raman spectroscopy. Hence, high cost of ownership restrains market growth.

By type, the Raman spectroscopy market can be mainly divided into Immersion Mode and Stand-off Mode. In 2021, the Immersion Mode type dominates the entire Raman spectroscopy market, accounting for the highest market share of 72.27%. This situation will remain in the forecast period of 2022-2028. The Immersion Mode type will still maintain a high growth rate of 9.04% CAGR during the forecast period.

In terms of application scenarios, the Raman spectroscopy market can be divided into Pharmaceuticals and Cosmetics, Chemical and Materials, Life Sciences, and Others. In 2021, the market share of Pharmaceuticals and Cosmetics is 36.24%, which is higher than the market share of other application areas. The growth in the pharmaceutical segment can be attributed to the surge in the use of solid pharmaceutical products by industry and academia. Raman spectroscopy is in high demand in the pharmaceutical industry due to its ability to visualize drug and excipient distribution in pharmaceutical formulations such as tablets, creams and ointments. Furthermore, spectral analysis of pharmaceuticals using Raman spectroscopy offers several additional benefits, such as active pharmaceutical ingredient (AP) selection and optimization. As a scattering technique, Raman spectroscopy does not require a reference optical path. Therefore, it is fiber optic compatible and allows remote sampling.

On basis of geography, the Raman Spectroscopy market is segmented into North America, Europe, Asia-Pacific, South America ,Middle East and Africa, etc. North America, Europe and Asia-Pacific market size is not much different, in 2021 the market The shares are 30.27%, 30.37% and 32.67%. During the forecast period of 2022-2028, we estimate that the Asia-Pacific market size will achieve the highest growth rate, reaching a CAGR of 10.40%, which is much higher than that of other markets. This growth can be attributed to the growing demand for pharmaceutical, life science, and materials science applications in countries such as China, Japan, South Korea, and India. In addition, the presence of a large number of pharmaceutical and life science companies and contract manufacturing organizations (CMOs) is also propelling the growth of the Raman spectroscopy market in the Asia Pacific region. The growth of the Asia-Pacific market can be attributed to active government involvement in improving healthcare infrastructure, rapid urbanization, rising GDP growth in emerging markets, and support from the government and multiple companies to expand the pharmaceutical and life sciences industries.

In 2021, the head effect of the Raman spectroscopy market will be significant. Global Raman Spectroscopy Manufacturers' market concentration indicator CR5 was 53.32% and HHI was 6.71%, slightly lower than 2020 levels. We predict that companies in the Raman spectroscopy market will still be in fierce competition in the future, and the market concentration will still decline slightly in 2022. Raman Spectroscopy is the key players in the market including Horiba, Thermo, Renishaw, B&W Tek, Bruker, Kaiser Optical, WITec, Ocean Insight, Smiths Detection, Optosky, JASCO, Agilent Technologies, TSI, Real Time Analyzers, Zolix, Sciaps and GangDong .

This report provides a deep insight into the global Raman Spectroscopy market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, value chain analysis, etc.

The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Raman Spectroscopy Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.

In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Raman Spectroscopy market in any manner.

Global Raman Spectroscopy Market: Market Segmentation Analysis

The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.

Key Company

Horiba

Thermo

Renishaw

B&W Tek

Bruker

Kaiser Optical

WITec

Ocean Insight

Smiths Detection

Optosky

JASCO

Agilent Technologies

TSI

Real Time Analyzers

Zolix

Sciaps

GangDong

Market Segmentation (by Type)

Immersion Mode

Stand-off Mode

Market Segmentation (by Application)

Pharmaceuticals and Cosmetics

Chemical and Materials

Life Sciences

Others

Geographic Segmentation

North America (USA, Canada, Mexico)

Europe (Germany, UK, France, Russia, Italy, Rest of Europe)

Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)

South America (Brazil, Argentina, Columbia, Rest of South America)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Key Benefits of This Market Research:

Industry drivers, restraints, and opportunities covered in the study

Neutral perspective on the market performance

Recent industry trends and developments

Competitive landscape & strategies of key players

Potential & niche segments and regions exhibiting promising growth covered

Historical, current, and projected market size, in terms of value

In-depth analysis of the Raman Spectroscopy Market

Overview of the regional outlook of the Raman Spectroscopy Market:

Key Reasons to Buy this Report:

Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change

This enables you to anticipate market changes to remain ahead of your competitors

You will be able to copy data from the Excel spreadsheet straight into your marketing plans, business presentations, or other strategic documents

The concise analysis, clear graph, and table format will enable you to pinpoint the information you require quickly

Provision of market value (USD Billion) data for each segment and sub-segment

Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market

Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region

Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled

Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players

The current as well as the future market outlook of the industry concerning recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions

Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis

Provides insight into the market through Value Chain

Market dynamics scenario, along with growth opportunities of the market in the years to come

6-month post-sales analyst support

Chapter Outline

Chapter 1 mainly introduces the statistical scope of the report, market division standards, and market research methods.

Chapter 2 is an executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the Raman Spectroscopy Market and its likely evolution in the short to mid-term, and long term.

Chapter 3 makes a detailed analysis of the market's competitive landscape of the market and provides the market share, capacity, output, price, latest development plan, merger, and acquisition information of the main manufacturers in the market.

Chapter 4 is the analysis of the whole market industrial chain, including the upstream and downstream of the industry, as well as Porter's five forces analysis.

Chapter 5 introduces the latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.

Chapter 6 provides the analysis of various market segments according to product types, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 7 provides the analysis of various market segments according to application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 8 provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.

Chapter 9 introduces the basic situation of the main companies in the market in detail, including product sales revenue, sales volume, price, gross profit margin, market share, product introduction, recent development, etc.

Chapter 10 provides a quantitative analysis of the market size and development potential of each region in the next five years.

Chapter 11 provides a quantitative analysis of the market size and development potential of each market segment (product type and application) in the next five years.

Chapter 12 is the main points and conclusions of the report.