The IR spectroscopy market is expected to grow at a CAGR of 4.1% from USD 1.0 billion in 2020 to USD 1.3 billion. Increasing demand of spectroscopy products in the healthcare & pharmaceuticals industry and food & beverages industry will drive the market.

“IR spectroscopy market for far-infrared technology is expected to grow at highest CAGR during forecast period”
FIR radiation (? = 3–100 ?m) is a part of the electromagnetic spectrum that can be used for different healthcare applications. Technological inventions have provided new methods for delivering FIR energy to the human body. Specialty saunas and lamps, delivering pure FIR radiation, have become safe, effective, and widely used sources to produce healing effects. Fibers saturated with FIR can be woven and are being used as garments.
The molecules that make up a substance are all exposed to complex molecular motion, and when that motion increases, the matter heats up. If electromagnetic waves that link to the frequency of molecular sensations are irradiated onto the resonance absorption of those electromagnetic waves, temperature and vibration increase.

FIR technology improves clinical cardiac function and symptoms, and decreases cardiac size in heart failure patients. The technology is capable of new inventive treatments for heart failure. FIR is invisible and is present in sunrays. Recent researches show that light can arouse the body’s metabolism rate. This technology can also be used for detoxification, reducing pain, boosting immunity, and healing wounds. Such applications in the healthcare & pharmaceuticals industry are driving the market for FIR technology.

“IR spectroscopy market for benchtop spectroscopes accounted for largest share in 2020”
Benchtop spectrometers are systems that use nuclear magnetic resonance for the determination of the physical and chemical properties of atomic/molecular structures of samples. Nuclear magnetic resonance enables the determining of the entire structure of organic compounds with a single group of diagnostic tests. As soon as the basic structure of a sample is identified, its physical attributes and molecular conformation at the molecular level, including solubility, can also be determined. Many nuclei have a precise spin rate. They all are electrically charged. If a magnetic field is applied to a fixed nucleus, energy transfer can take place at a wavelength that matches a specific radio frequency. When the field is removed, the energy is released at the same frequency. The signal that links to this transfer is evaluated and processed to yield a nuclear magnetic resonance (NMR) spectrum. The seized resonant frequency is identified based on the magnetic field directed at the nucleus. This field is impacted by electrons, which, in turn, are dependent on their chemical surroundings. Subsequently, data on the tested chemical environments of the nucleus can be determined using a resonant frequency.

“IR spectroscopy market for healthcare & pharmaceuticals end-user industry to hold the largest share during forecast period”
IR spectroscopy is used in the healthcare & pharmaceuticals industry to improve the lighting efficiency of endoscopic instruments, which are used for the removal of artery plaque, kidney stones, etc. The most significant and prevalent applications of IR spectroscopy in the healthcare & pharmaceuticals industry are imaging and illumination components of endoscopes. Flexible and rigid multifiber cables, composed of step-index fibers and graded-index imaging rods, are extensively used to visualize internal organs and tissues, which are accessible through natural openings. It is also used for remote spectrophotometry, pressure and position sensing, or scintillation counting applications.

IR spectroscopy is also used in a number of diagnostic and therapeutic applications. It may contribute to certain therapeutic methods such as photodynamic therapy by providing them with the optical data related to the tissue response. Reliable IR spectroscopy is significant in diagnostics applications. It is an important tool in pharmaceutical analysis. IR spectroscopy is a non-destructive method that requires little or no sample groundwork. In addition, the formation of chemometrics, which retrieves information through data-driven methods, has amplified the tendency of IR spectroscopy to detect slight variation in intricate datasets. Recent breakthroughs in IR spectroscopy hold potential for label-free, non-invasive optical detection and evaluation of certain molecules in human tissues and cells, including hemoglobin protein.

“North America is expected to hold the largest market for IR spectroscopy during forecast period”
North America held a share of 34% of the overall IR spectroscopy market in 2019. The growth of the market in this region can be attributed to the increased investments in research and development activities being carried out in the healthcare & pharmaceuticals industry. IR spectroscopy products and solutions are used in these research and development activities. The food & beverages industry also uses IR spectroscopy products and solutions for detecting the presence of foreign particles in food items and beverages. The people in North America are highly concerned about the quality of food items and beverages. This is the prime reason contributing to the growth of the IR spectroscopy market in North America for food & beverages.

Breakdown of the profile of primary participants:

  • By Company Type: Tier 1 – 30 %, Tier 2 – 38%, and Tier 3 – 32%
  • By Designation: C-level Executives – 44%, Directors - 38%, and Others -18%
  • By Region: APAC – 30%, North America– 25%, Europe – 26%, and RoW – 19%

The major players profiled in this report include:

  • Shimadzu Corporation (Japan)
  • Agilent Technologies (US)
  • Bruker Corporation (US)
  • Horiba Ltd. (Japan)
  • Perkin-Elmer, Inc. (US)
  • Zeiss (Germany)
  • Hitachi High-Technologies Corporation (Japan)
  • Jasco Inc. (US)
  • Thermo Fisher Scientific (US)
  • Sartorius AG (Germany)
  • Teledyne Princeton Instruments (US)

Research Coverage
The study segments the IR spectroscopy market report into technology (near-infrared, mid-infrared, far-infrared), product type (benchtop spectroscopes, micro spectroscopes, portable spectroscopes, hyphenated spectroscopes) and end-user (healthcare & pharmaceuticals, chemicals, biological research, consumer electronics, environment, food & beverages) . The study also provides market size for various segments regarding four main regions?North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).

Reasons To Buy the report
The report would help the market leaders/new entrants in this market in the following ways:

  • This report segments the IR spectroscopy market comprehensively provides the closest approximations of the overall market size and those of the subsegments across different applications and regions.
  • The report provides a detailed analysis of the IR spectroscopy market with the help of competitive leadership mapping, including crucial companies in the market and their relations in the ecosystem.
  • The report helps stakeholders understand the pulse of the market and provide them information on the key market drivers, restraints, challenges, and opportunities.
  • This report would help stakeholders understand their competitors better and gain insights to enhance their position in the business.
  • The competitive landscape section includes the competitor ecosystem, product developments, partnerships, and mergers & acquisitions in the IR spectroscopy market.