North America IR Spectroscopy Market Size, Share & Trends Analysis Report By Technology (Dispersive and Fourier Transform), By Type, By Product Type, By End-user, By Country and Growth Forecast, 2024 - 2031
The North America IR Spectroscopy Market would witness market growth of 5.6% CAGR during the forecast period (2024-2031).
The US market dominated the North America IR Spectroscopy Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $477 million by 2031. The Canada market is experiencing a CAGR of 8% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 7.1% during (2024 - 2031).
One of the primary drivers of growth in the IR spectroscopy market is the expanding demand for analytical solutions in pharmaceutical and healthcare applications. IR spectroscopy plays a critical role in drug discovery, development, and manufacturing, providing rapid and reliable analysis of pharmaceutical compounds, formulations, and biological samples. In pharmaceutical research, IR spectroscopy enables the identification of drug candidates, characterization of APIs, and assessment of drug stability, purity, and bioavailability. Moreover, IR spectroscopy supports quality control and assurance processes in pharmaceutical manufacturing, helping to ensure compliance with regulatory standards and specifications. IR spectroscopy enables manufacturers to verify the identity, purity, and safety of products, ensuring regulatory compliance and consumer protection.
Furthermore, the chemicals and materials science sectors represent significant segments within the IR spectroscopy market, with applications spanning polymer analysis, chemical composition analysis, quality control, and process monitoring. IR spectroscopy is widely utilized in the analysis of polymers, plastics, coatings, and specialty chemicals, providing valuable insights into material properties, composition, and performance characteristics. In materials research, IR spectroscopy facilitates the investigation of structural defects, phase transitions, and surface interactions, supporting advancements in materials engineering, nanotechnology, and semiconductor manufacturing.
The IR spectroscopy market in the region is witnessing significant expansion, fueled by various factors that underline its importance and effectiveness across different industries. The data provided by the Government of Mexico, indicating a robust gross domestic product (GDP) of $5.18 trillion MX during the fourth quarter of 2023, reflects a strong economic foundation that supports the growth of industries like chemical manufacturing. These factors, combined with technological advancements in IR spectroscopy and its versatile applications across industries, are expected to drive further growth in the IR spectroscopy market.
Based on Technology, the market is segmented into Dispersive and Fourier Transform. Based on Type, the market is segmented into Near-infrared Spectroscopy, Mid-infrared Spectroscopy, and Far-infrared Spectroscopy. Based on Product Type, the market is segmented into Benchtop Spectroscopes, Micro Spectroscopes, Portable Spectroscopes, and Hyphenated Spectroscopes. Based on End-user, the market is segmented into Healthcare & Pharmaceuticals, Chemicals, Food & Beverages, Biological Research, Environmental, and Consumer Electronics. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- Shimadzu Corporation
- Carl Zeiss AG
- Revvit, Inc
- Agilent Technologies, Inc.
- Bruker Corporation
- ABB Group
- Thermo Fisher Scientific, Inc.
- Horiba Ltd.
- Sartorius AG
- Hitachi High-Tech Corporation (Hitachi, Ltd)
By Technology
- Dispersive
- Fourier Transform
- Near-infrared Spectroscopy
- Mid-infrared Spectroscopy
- Far-infrared Spectroscopy
- Benchtop Spectroscopes
- Micro Spectroscopes
- Portable Spectroscopes
- Hyphenated Spectroscopes
- Healthcare & Pharmaceuticals
- Chemicals
- Food & Beverages
- Biological Research
- Environmental
- Consumer Electronics
- US
- Canada
- Mexico
- Rest of North America
- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America IR Spectroscopy Market, by Technology
- 1.4.2 North America IR Spectroscopy Market, by Type
- 1.4.3 North America IR Spectroscopy Market, by Product Type
- 1.4.4 North America IR Spectroscopy Market, by End-User
- 1.4.5 North America IR Spectroscopy Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market at a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market composition and scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Opportunities
- 3.2.3 Market Restraints
- 3.2.4 Market Challenges
- Chapter 4. Competition Analysis - Global
- 4.1 KBV Cardinal Matrix
- 4.2 Recent Industry Wide Strategic Developments
- 4.2.1 Partnerships, Collaborations and Agreements
- 4.2.2 Product Launches and Product Expansions
- 4.2.3 Acquisition and Mergers
- 4.2.4 Expansion
- 4.3 Market Share Analysis, 2023
- 4.4 Top Winning Strategies
- 4.4.1 Key Leading Strategies: Percentage Distribution (2021-2024)
- 4.4.2 Key Strategic Move: (Product Launches and Product Expansions : 2021, Oct – 2024, Mar) Leading Players
- 4.5 Porter’s Five Forces Analysis
- Chapter 5. North America IR Spectroscopy Market by Technology
- 5.1 North America Dispersive Market by Region
- 5.2 North America Fourier Transform Market by Region
- Chapter 6. North America IR Spectroscopy Market by Type
- 6.1 North America Near-infrared Spectroscopy Market by Country
- 6.2 North America Mid-infrared Spectroscopy Market by Country
- 6.3 North America Far-infrared Spectroscopy Market by Country
- Chapter 7. North America IR Spectroscopy Market by Product Type
- 7.1 North America Benchtop Spectroscopes Market by Country
- 7.2 North America Micro Spectroscopes Market by Country
- 7.3 North America Portable Spectroscopes Market by Country
- 7.4 North America Hyphenated Spectroscopes Market by Country
- Chapter 8. North America IR Spectroscopy Market by End-user
- 8.1 North America Healthcare & Pharmaceuticals Market by Country
- 8.2 North America Chemicals Market by Country
- 8.3 North America Food & Beverages Market by Country
- 8.4 North America Biological Research Market by Country
- 8.5 North America Environmental Market by Country
- 8.6 North America Consumer Electronics Market by Country
- Chapter 9. North America IR Spectroscopy Market by Country
- 9.1 US IR Spectroscopy Market
- 9.1.1 US IR Spectroscopy Market by Technology
- 9.1.2 US IR Spectroscopy Market by Type
- 9.1.3 US IR Spectroscopy Market by Product Type
- 9.1.4 US IR Spectroscopy Market by End-user
- 9.2 Canada IR Spectroscopy Market
- 9.2.1 Canada IR Spectroscopy Market by Technology
- 9.2.2 Canada IR Spectroscopy Market by Type
- 9.2.3 Canada IR Spectroscopy Market by Product Type
- 9.2.4 Canada IR Spectroscopy Market by End-user
- 9.3 Mexico IR Spectroscopy Market
- 9.3.1 Mexico IR Spectroscopy Market by Technology
- 9.3.2 Mexico IR Spectroscopy Market by Type
- 9.3.3 Mexico IR Spectroscopy Market by Product Type
- 9.3.4 Mexico IR Spectroscopy Market by End-user
- 9.4 Rest of North America IR Spectroscopy Market
- 9.4.1 Rest of North America IR Spectroscopy Market by Technology
- 9.4.2 Rest of North America IR Spectroscopy Market by Type
- 9.4.3 Rest of North America IR Spectroscopy Market by Product Type
- 9.4.4 Rest of North America IR Spectroscopy Market by End-user
- Chapter 10. Company Profiles
- 10.1 Shimadzu Corporation
- 10.1.1 Company Overview
- 10.1.2 Financial Analysis
- 10.1.3 Segmental and Regional Analysis
- 10.1.4 Recent strategies and developments:
- 10.1.4.1 Partnerships, Collaborations, and Agreements:
- 10.1.4.2 Product Launches and Product Expansions:
- 10.1.5 SWOT Analysis
- 10.2 Carl Zeiss AG
- 10.2.1 Company Overview
- 10.2.2 Financial Analysis
- 10.2.3 Segmental and Regional Analysis
- 10.2.4 Research & Development Expenses
- 10.2.5 SWOT Analysis
- 10.3 Revvity, Inc.
- 10.3.1 Company Overview
- 10.3.2 Financial Analysis
- 10.3.3 Segmental and Regional Analysis
- 10.3.4 Research & Development Expense
- 10.3.5 Recent strategies and developments:
- 10.3.5.1 Product Launches and Product Expansions:
- 10.3.5.2 Acquisition and Mergers:
- 10.4 Agilent Technologies, Inc.
- 10.4.1 Company Overview
- 10.4.2 Financial Analysis
- 10.4.3 Segmental and Regional Analysis
- 10.4.4 Research & Development Expense
- 10.4.5 Recent strategies and developments:
- 10.4.5.1 Partnerships, Collaborations, and Agreements:
- 10.4.5.2 Product Launches and Product Expansions:
- 10.4.6 SWOT Analysis
- 10.5 Bruker Corporation
- 10.5.1 Company Overview
- 10.5.2 Financial Analysis
- 10.5.3 Segmental and Regional Analysis
- 10.5.4 Research & Development Expense
- 10.5.5 Recent strategies and developments:
- 10.5.5.1 Product Launches and Product Expansions:
- 10.5.5.2 Acquisition and Mergers:
- 10.5.6 SWOT Analysis
- 10.6 Thermo Fisher Scientific, Inc.
- 10.6.1 Company Overview
- 10.6.2 Financial Analysis
- 10.6.3 Segmental and Regional Analysis
- 10.6.4 Research & Development Expenses
- 10.6.5 Recent strategies and developments:
- 10.6.5.1 Partnerships, Collaborations, and Agreements:
- 10.6.5.2 Product Launches and Product Expansions:
- 10.6.5.3 Acquisition and Mergers:
- 10.6.6 SWOT Analysis
- 10.7 Horiba Ltd.
- 10.7.1 Company Overview
- 10.7.2 Financial Analysis
- 10.7.3 Regional & Segmental Analysis
- 10.7.4 Research & Development Expenses
- 10.7.5 Recent strategies and developments:
- 10.7.5.1 Partnerships, Collaborations, and Agreements:
- 10.7.6 SWOT Analysis
- 10.8 Sartorius AG
- 10.8.1 Company Overview
- 10.8.2 Financial Analysis
- 10.8.3 Segmental and Regional Analysis
- 10.8.4 Research & Development Expenses
- 10.8.5 SWOT Analysis
- 10.9 Hitachi High-Tech Corporation (Hitachi, Ltd.)
- 10.9.1 Company Overview
- 10.9.2 Financial Analysis
- 10.9.3 Segmental and Regional Analysis
- 10.9.4 Research & Development Expenses
- 10.9.5 SWOT Analysis
- 10.10. ABB Group
- 10.10.1 Company Overview
- 10.10.2 Financial Analysis
- 10.10.3 Segmental and Regional Analysis
- 10.10.4 Research & Development Expense
- 10.10.5 Recent strategies and developments:
- 10.10.5.1 Product Launches and Product Expansions:
- 10.10.6 SWOT Analysis
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