Product Code: GVR-4-68039-970-6
Near-infrared Spectroscopy Market Growth & Trends:
The global near-infrared spectroscopy market size is expected to reach USD 806.4 million by 2030, registering a CAGR of 6.08% over the forecast period, according to a new report by Grand View Research, Inc. The growing implementation of an analytical technique for raw materials in numerous sectors, such as oil & gas and agriculture, coupled with their increasing applications is anticipated to spur industry growth. For instance, various herbs and plants with therapeutic and medicinal properties are analyzed through near-infrared (NIR) spectroscopy to assess the bio-active components. The industry has witnessed considerable growth in 2021 and is expected to have similar developments during the forecasted period.
The demand for the products from the material science sector is a substantial contributor to the revenue. NIR spectrometry provides significant advantages as a process analytical technology over other techniques including wet chemical methods, resulting in increasing preference from manufacturers. Other determinants, such as rapid advancement in the workflows of material verification, as well as improving risk management in the supply chain by manufacturers to fulfill the GMP criteria, are also contributing to the growth. The major 20 pharmaceutical manufacturers employ portable NIR analyzers to authenticate either raw materials or finished products to comply with GMP guidelines. Similarly, regulatory bodies in Europe, North America, Africa, and Asia have purchased the product to strengthen their counterfeiting efforts.
The COVID-19 pandemic had a positive impact on the demand from pharmaceutical manufacturers. However, the disruptions in industries, such as electronics & semiconductors, food & beverages, and chemical, are projected to have an adverse impact on the growth rate. For instance, in February 2021, the U.S. government reviewed the supply chain of pharma and semiconductors to strengthen the domestic investment and process of manufacturing. The imposed lockdown norms across the globe created shortages in supplies and inflated the cost of raw materials, this affected the profitability of the players. Similarly, the capability of NIR spectroscopy to identify the polymers that are used in the packaging of pharmaceutical and nutraceutical products is anticipated to be another determinant of industry growth.
As per the Code of Federal Regulations (CFR) for the packaging of pharmaceutical products, components used to store drug products are required to be identified before the use by Quality Control. On the other hand, this industry has a considerable number of players with regional dominance. The development of rapid and cost-effective NIR spectrometry is anticipated to accelerate the level of competition in the industry. For instance, in November 2020, a group of researchers developed a handheld NIR spectroscopy for organic solvents testing. Hence, the low-cost NIR spectroscopy with high accuracy will assist players to expand their presence in low- and middle-income countries.
Near-infrared Spectroscopy Market Report Highlights:
- The Fourier Transform-based (FT-NIR) spectrometers product segment held the major revenue share owing to the high accuracy in the material testing and verification
- The particle measurement application segment had a substantial share in 2021 due to strict measures by emerging countries for dealing with counterfeited medicines
- The portable near-infrared spectroscopy type segment is anticipated to register the fastest CAGR during the forecasted period
- MicroPHAZIR RX analyzer by Thermo Fisher Scientific is one of the portable NIR spectrometry that can analyze various applications
- Europe dominated the global industry in 2021 due to the establishment of a large number of pharmaceutical manufacturers and strict regulations for quality-check as a part of GMP compliance
- Asia Pacific is estimated to grow at the fastest CAGR over the forecasted period owing to the expansion of the semiconductors industry in emerging regions, such as India
Table of Contents
Chapter 1 Research Methodology
- 1.1 Market Segmentation & Scope
- 1.1.1 Estimates And Forecast Timeline
- 1.2 Research Methodology
- 1.3 Information Procurement
- 1.3.1 Purchased Database
- 1.3.2 Gvr's Internal Database
- 1.3.3 Secondary Sources
- 1.3.4 Primary Research
- 1.3.5 Details Of Primary Research
- 1.4 Information Or Data Analysis
- 1.4.1 Data Analysis Models
- 1.5 Market Formulation & Validation
- 1.6 Model Details
- 1.6.1 Commodity Flow Analysis
- 1.6.1.1 Approach 1: Commodity Flow Approach
- 1.6.1.2 Approach 2: Country-Wise Market Estimation Using Bottom-Up Approach
- 1.7 Global Market: Cagr Calculation
- 1.8 Research Assumptions
- 1.9 List Of Secondary Sources
- 1.10 List Of Primary Sources
- 1.11 Objectives
- 1.11.1 Objective 1
- 1.11.2 Objective 2
- 1.12 List of Abbreviations
Chapter 2 Market Definitions
Chapter 3 Executive Summary
Chapter 4 Global Near-Infrared Spectroscopy Market Variables, Trends, & Scope
- 4.1 Near-Infrared Spectroscopy Market Lineage Outlook
- 4.1.1 Parent Market Outlook
- 4.2 Penetration And Growth Prospect Mapping
- 4.3 Regulatory Framework
- 4.4 Market Driver Analysis
- 4.4.1 Rising Quality Check Of Product In Pharmaceutical Industry
- 4.4.2 Implementation Of Analytical Technique For Raw Material
- 4.4.3 Expanding Applications Of Near-Infrared Spectroscopy
- 4.5 Market Restraint Analysis
- 4.5.1 Require Trained-Professional To Operate The Product
- 4.6 COVID-19 Impact Analysis
- 4.7 Market Analysis
- 4.7.1 Porter's Five Forces Analysis
- 4.7.2 Swot Analysis, By Factor (Political & Legal, Economic, And Technological)
- 4.8 Penetration and Growth Prospect Mapping for Application Type, 2021
- 4.9 Key Stakeholders in the Near-Infrared Spectroscopy Market
Chapter 5 Near-Infrared Spectroscopy Market - Segment Analysis, by Product, 2018 - 2030 (USD Million)
- 5.1 Global Near-Infrared Spectroscopy Market: Product Movement Analysis
- 5.2 Dispersive Infrared Spectroscopy
- 5.2.1 Dispersive Infrared Spectroscopy Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 5.3 Fourier Transform Based (Ft-Nir) Spectrometers
- 5.3.1 Fourier Transform Based (Ft-Nir) Spectrometers Market Estimates And Forecast, 2018 - 2030 (USD Million)
Chapter 6 Near-Infrared Spectroscopy Market - Segment Analysis, by Type, 2018 - 2030 (USD Million)
- 6.1 Global Near-Infrared Spectroscopy Market: Type Movement Analysis
- 6.2 Benchtop
- 6.2.1 Benchtop Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 6.3 Portable
- 6.3.1 Portable Market Estimates And Forecast, 2018 - 2030 (USD Million)
Chapter 7 Near-Infrared Spectroscopy Market - Segment Analysis, By Application, 2018 - 2030 (Usd Million)
- 7.1 Global Near-Infrared Spectroscopy Market: Application Movement Analysis
- 7.2 Medical Applications
- 7.2.1 Medical Applications Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 7.3 Astronomical Spectroscopy
- 7.3.1 Astronomical Spectroscopy Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 7.4 Remote Monitoring
- 7.4.1 Remote Monitoring Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 7.5 Agriculture
- 7.5.1 Agriculture Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 7.6 Particle Measurements
- 7.6.1 Particle Measurement Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 7.7 Material Science
- 7.7.1 Material Science Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 7.8 Industrial Use
- 7.8.1 Industrial Use Market Estimates And Forecast, 2018 - 2030 (USD Million)
Chapter 8 Near-Infrared Spectroscopy Market: - Segment Analysis, by Region, 2018 - 2030 (USD Million)
- 8.1 Near-Infrared Spectroscopy Market: Regional Movement Analysis
- 8.2 North America
- 8.2.1 North America Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 8.2.2 U.S.
- 8.2.2.1 U.S. Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 8.2.3 Canada
- 8.2.3.1 Canada Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 8.3 Europe
- 8.3.1 Europe Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 8.3.2 U.K.
- 8.3.2.1 U.K. Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 8.3.3. Germany
- 8.3.3.1 Germany Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 8.3.4 Spain
- 8.3.4.1 Spain Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 8.3.5 France
- 8.3.5.1 France Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 8.3.6 Italy
- 8.3.6.1 Italy Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 8.4 Asia Pacific
- 8.4.1 Asia Pacific Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 8.4.2 Japan
- 8.4.2.1 Japan Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 8.4.3 China
- 8.4.3.1 China Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 8.4.4 India
- 8.4.4.1 India Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 8.4.5 South Korea
- 8.4.5.1 South Korea Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 8.4.6 Australia
- 8.4.6.1 Australia Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 8.5 Latin America
- 8.5.1 Latin America Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 8.5.2 Brazil
- 8.5.2.1 Brazil Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 8.5.3 Mexico
- 8.5.3.1 Mexico Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 8.5.4 Argentina
- 8.5.4.1 Argentina Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 8.6 Middle East & Africa (MEA)
- 8.6.1 Middle East & Africa Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 8.6.2 South Africa
- 8.6.2.1 South Africa Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 8.6.2 Saudi Arabia
- 8.6.2.1 Saudi Arabia Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 8.6.3 UAE
- 8.6.3.1 UAE Market Estimates And Forecast, 2018 - 2030 (USD Million)
Chapter 9 Competitive Landscape
- 9.1 Public Companies
- 9.1.1 Company Market Position Analysis
- 9.1.2 Competitive Dashboard Analysis
- 9.1.3 Strategic Framework
- 9.2 Private Companies
- 9.2.1 List Of Key Emerging Companies/Technology Disruptors/Innovators
- 9.2.2 Regional Network Map
- 9.3 Company Profiles
- 9.3.1 PERKINELMER INC.
- 9.3.1.1 Company Overview
- 9.3.1.2 Financial Performance
- 9.3.1.3 Product Benchmarking
- 9.3.1.4 Strategic Initiatives
- 9.3.2 THERMO FISHER SCIENTIFIC INC.
- 9.3.2.1 Company Overview
- 9.3.2.2 Financial Performance
- 9.3.2.3 Product Benchmarking
- 9.3.2.4 Strategic Initiatives
- 9.3.3 BRUKER
- 9.3.3.1 Company Overview
- 9.3.3.2 Financial Performance
- 9.3.3.3 Product Benchmarking
- 9.3.3.4 Strategic Initiatives
- 9.3.4 BRAINBOX LTD.
- 9.3.4.1 Company Overview
- 9.3.4.2 Financial Performance
- 9.3.4.3 Product Benchmarking
- 9.3.4.4 Strategic Initiatives
- 9.3.5 OXFORD INSTRUMENTS
- 9.3.5.1 Company Overview
- 9.3.5.2 Financial Performance
- 9.3.5.3 Product Benchmarking
- 9.3.5.4 Strategic Initiatives
- 9.3.6 MALVERN PANALYTICAL LTD.
- 9.3.6.1 Company Overview
- 9.3.6.2 Financial Performance
- 9.3.6.3 Product Benchmarking
- 9.3.6.4 Strategic Initiatives
- 9.3.7 GALAXY-SCIENTIFIC
- 9.3.7.1 Company Overview
- 9.3.7.2 Financial Performance
- 9.3.7.3 Product Benchmarking
- 9.3.7.4 Strategic Initiatives
- 9.3.8 ABB
- 9.3.8.1 Company Overview
- 9.3.8.2 Financial Performance
- 9.3.8.3 Product Benchmarking
- 9.3.8.4 Strategic Initiatives
- 9.3.9 METROHM AG
- 9.3.9.1 Company Overview
- 9.3.9.2 Financial Performance
- 9.3.9.3 Product Benchmarking
- 9.3.9.4 Strategic Initiatives
- 9.3.10 KPM ANALYTICS
- 9.3.10.1 Company Overview
- 9.3.10.2 Financial Performance
- 9.3.10.3 Product Benchmarking
- 9.3.10.4 Strategic Initiatives