IR Spectroscopy

Global IR Spectroscopy Market to Reach US$1.6 Billion by 2030

The global market for IR Spectroscopy estimated at US$1.2 Billion in the year 2023, is expected to reach US$1.6 Billion by 2030, growing at a CAGR of 5.0% over the analysis period 2023-2030. Benchtop IR Spectroscopy, one of the segments analyzed in the report, is expected to record a 5.2% CAGR and reach US$647.6 Million by the end of the analysis period. Growth in the Micro IR Spectroscopy segment is estimated at 4.6% CAGR over the analysis period.

The U.S. Market is Estimated at US$309.0 Million While China is Forecast to Grow at 7.5% CAGR

The IR Spectroscopy market in the U.S. is estimated at US$309.0 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$359.3 Million by the year 2030 trailing a CAGR of 7.5% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.1% and 4.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR.

Global IR Spectroscopy Market - Key Trends and Drivers Summarized

How Is IR Spectroscopy Revolutionizing Chemical Analysis?

Infrared (IR) spectroscopy is a powerful analytical technique used to identify and quantify chemical compounds by analyzing how they absorb infrared light. IR spectroscopy is widely used in industries such as pharmaceuticals, food & beverage, and environmental monitoring, where it provides rapid, non-destructive analysis of samples. This technique is particularly valuable for identifying functional groups and molecular structures, making it indispensable in quality control and research applications. The growing demand for accurate and efficient chemical analysis is driving the adoption of IR spectroscopy in both laboratory and field settings, with portable and handheld spectrometers becoming increasingly popular for on-site testing.

What Technological Innovations Are Driving IR Spectroscopy?

Technological advancements are making IR spectroscopy more accurate, accessible, and versatile. The development of Fourier-transform infrared (FTIR) spectroscopy has improved the sensitivity and resolution of traditional IR methods, allowing for more detailed analysis of complex samples. Miniaturization of IR spectrometers has enabled the creation of portable devices that can be used in the field, expanding the applications of IR spectroscopy beyond the laboratory. Additionally, advancements in software and data processing are enhancing the usability of IR spectroscopy systems by automating data analysis and interpretation, reducing the need for specialized expertise. These innovations are driving the adoption of IR spectroscopy across a broader range of industries and applications.

How Do Market Segments Define the Growth of IR Spectroscopy?

Types include near-infrared (NIR), mid-infrared (MIR), and far-infrared (FIR) spectroscopy, with MIR spectroscopy dominating the market due to its widespread use in organic compound analysis. Applications range from pharmaceuticals and environmental testing to food quality control and forensics, with pharmaceuticals representing the largest segment due to the stringent regulatory requirements for drug testing and quality assurance. End-users include laboratories, manufacturing facilities, and research institutions, with laboratories accounting for the largest share due to their extensive use of IR spectroscopy for sample analysis. The market is growing rapidly in North America, Europe, and Asia-Pacific, driven by the increasing demand for chemical analysis across various sectors.

What Factors Are Driving the Growth in the IR Spectroscopy Market?

The growth in the IR spectroscopy market is driven by several factors, including the increasing need for rapid and accurate chemical analysis, advancements in spectrometer technology, and the growing demand for portable analytical devices. As industries such as pharmaceuticals and food & beverage face stricter quality control regulations, IR spectroscopy is becoming essential for ensuring product safety and compliance. Technological innovations, such as the development of portable FTIR spectrometers, are making IR spectroscopy more accessible and practical for field applications, further driving market growth. Additionally, the growing focus on environmental monitoring and the need for real-time chemical analysis in industrial processes are contributing to the expansion of the IR spectroscopy market.

Select Competitors (Total 33 Featured) -

• Agilent Technologies, Inc.
• Bayspec, Inc.
• Bruker Corp
• Foss
• Horiba, Ltd.
• Jasco Inc.
• Perkinelmer Inc.
• Princeton Instruments (PI)
• Spectra Analysis Instruments Inc.
• Teledyne Technologies Inc.
• Thermo Fisher Scientific Inc.

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