Market Research Future (MRFR) in their report on the infrared spectroscopy devices market predicted a 7.2% CAGR during the forecast period (2018-2023). The infrared spectroscopy devices market size is expected to cross a valuation of USD 1821 million by the end of 2023. Infrared spectroscopy devices ensure interaction between infrared spectroscopy and matter. Mostly based on the absorption technology, the method can be used to study properties of chemicals, be it solid, liquid, or gaseous.
The spectroscopy creates a spectrum which can be read through a light absorbance graph. By matching the resonant frequency of the spectroscopy with the vibrational frequency of molecules, the method helps in identifying the nature of the molecule. The technology is quite popular in both organic and inorganic chemistry. MRFR while discussing the report included detailed segmental analysis, along with an in-depth study of the factors that can promote the market substantially in the coming years.
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Competitive Landscape:
Notable players as recorded by MRFR in this infrared spectroscopy devices market are Jasco, Shimadzu, PerkinElmer, Agilent Technologies, Bruker Corp., Princeton Instruments, Thermo Fisher Scientific Inc., Sartorius AG and others.
Segmentations:
MRFR segments the global infrared spectroscopy devices market by spectrum sensitivity, technology, product, and end-users.
By Spectrum Sensitivity
- Near-Infrared (NIR)
- Mid-Infrared (Mid IR)
- Far-Infrared (Far IR)
By Technology-wise
- Dispersive Infrared Spectroscopy
- Fourier Transform Infrared (FTIR) Spectroscopy
By Product-based
- Bench Top
- Portable
- Hyphenated
By End-user
- Hospitals and clinics
- Pharmaceutical Industry
- Research Laboratories
Regional Analysis:
Based on the region, MRFR segments the infrared spectroscopy devices market into regions like North America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA).
Towing to the technological superiority the Americas lead the global market with comparative ease. Their robust infrastructure in the research sector give them an edge over the rest. This is also leading to a rapid development and technological implementation in various fields that are helping the market in its growth. In addition, the presence of the U.S. is playing a substantial role in the regional market. Major manufacturers are also based out of this region.
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Europe can be considered the second largest infrared spectroscopy devices market in terms of valuation. The APAC region is set to become the fastest region of the market during the forecast period. The region is witnessing significant rise in research and development expenditure and the industrial economy is rapidly evolving. A lot of global influencers are now eyeing the region for a better expansion plan.
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