UV/Visible Spectroscopy

UV/Visible Spectroscopy

Global UV / Visible Spectroscopy Market to Reach $1.3 Billion by 2027

In the changed post COVID-19 business landscape, the global market for UV / Visible Spectroscopy estimated at US$978.1 Million in the year 2020, is projected to reach a revised size of US$1.3 Billion by 2027, growing at a CAGR of 4.3% over the analysis period 2020-2027. Dual-Beam, one of the segments analyzed in the report, is projected to record a 5.3% CAGR and reach US$576.2 Million by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Single-Beam segment is readjusted to a revised 3.5% CAGR for the next 7-year period.

The U.S. Market is Estimated at $268.8 Million, While China is Forecast to Grow at 7.3% CAGR

The UV / Visible Spectroscopy market in the U.S. is estimated at US$268.8 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$263.7 Million by the year 2027 trailing a CAGR of 7.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.3% and 3.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$169.8 Million by the year 2027.

Array-Based Segment to Record 3.2% CAGR

In the global Array-Based segment, USA, Canada, Japan, China and Europe will drive the 3.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$149.1 Million in the year 2020 will reach a projected size of US$183.8 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 3.5% CAGR through the analysis period.

Select Competitors (Total 41 Featured) -

• Agilent Technologies, Inc.
• Buck Scientific, Inc.
• Hach Company
• Hamamatsu Photonics KK
• Hitachi High-Technologies Corporation
• Horiba Ltd.
• Jasco, Inc.
• PerkinElmer, Inc.
• Shimadzu Corporation
• Thermo Fisher Scientific, Inc.

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