Selbyville, Delaware , Nov. 14, 2024 (GLOBE NEWSWIRE) -- IR Spectroscopy Market was valued at USD 1.3 billion in 2023 and is projected to be worth USD 2 billion by the end of 2032, as per a recent study by Global Market Insights Inc.
The growing miniaturization and portability of IR spectrometers have expanded their applications, making them more accessible for real-time, on-site analysis in sectors like environmental monitoring, food safety, and forensic science. Portable and handheld devices are becoming essential for rapid and accurate assessments in these areas.
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In the pharmaceutical industry, demand for IR spectroscopy is rising due to its critical role in drug development, quality assurance, and regulatory compliance. This technique provides a non-destructive and precise method to analyze chemical compositions, aiding in various stages of drug formulation. IR spectroscopy is especially useful in identifying molecular structures, analyzing chemical interactions, and verifying compound purity during the drug discovery phase.
In terms of technology, the IR spectroscopy market share from fourier transform infrared spectroscopy segment accounted for over 30% of the market share in 2023. FTIR spectroscopy, a sophisticated technique, offers detailed molecular analysis by measuring the absorbance of infrared light across different wavelengths. Unlike traditional methods that rely on a monochromator to select individual wavelengths, FTIR uses an interferometer to simultaneously capture a broad spectrum, making it a highly efficient and versatile tool.
On the product front, the portable IR spectroscopy segment is projected to experience significant growth, with a projected CAGR of over 9% beween 2024 and 2032. Portable IR spectrometers are compact, field-deployable devices designed for real-time sample analysis outside the lab. These devices, equipped with miniaturized optics and detectors, enable rapid, accurate results in diverse field applications, such as environmental assessments, food safety inspections, and security screenings.
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North America led the global IR spectroscopy market in 2023, contributing over 35% of the total market share. This dominance is largely due to the region's strong pharmaceutical sector, advanced healthcare infrastructure, and substantial investment in research and development. The U.S., in particular, plays a pivotal role in driving market growth with its thriving pharmaceutical companies, research institutions, and academic organizations, which heavily rely on IR spectroscopy for various scientific and industrial applications.
IR Spectroscopy Market Players
Companies including Thermo Fisher Scientific, PerkinElmer, Bruker, Shimadzu, Agilent Technologies, Jasco International, Horiba are some firms working in IR spectroscopy industry.
This IR spectroscopy market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Million) from 2021 to 2032, for the following segments:
Market, By Technology
- Dispersive IR spectroscopy
- Fourier Transform Infrared (FTIR) spectroscopy
- Attenuated Total Reflectance (ATR) spectroscopy
- Others
Market, By Type
- Near-Infrared (NIR) spectroscopy
- Mid-Infrared (MIR) spectroscopy
- Far-Infrared (FIR) spectroscopy
Market, By Product Type
- Benchtop IR spectroscopy
- Portable IR spectroscopy
- Microscopy IR spectroscopy
- Hyphenated IR spectroscopy
Market, By End-use Industry
- Healthcare & Pharmaceuticals
- Food And Beverage
- Chemical
- Environmental
- Biomedical Research & Biomaterials
- Others
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
