The global process spectroscopy market is estimated to reach USD 29.07
billion by 2025 according to a new report by Grand View Research, Inc. The
surging demand from the pharmaceutical industries, to undertake advanced
research and development, is leading to the implementation of various
spectroscopy methodologies across the sector, at a considerable rate over the
forecast period.
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Process spectroscopy market by application, 2015
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The technology is anticipated to witness high growth owing to rising
quality awareness among industries. The increasing importance of reducing
operational expenditure is anticipated to drive the demand of these instruments
during the forecast period. Furthermore, the significant R&D activities are
carried out which has led to the development of various drug discoveries. The drug
discoveries in the sector have resulted in the emergence of effective remedies
over a number of diseases and disabilities across the world.
The uninterrupted rising demand for spectroscopic techniques and related
equipment installations across the globe is expected to drive the significant
growth of overall market over the forecast period. The process spectroscopy
market is expected to witness tremendous growth over the projected years, owing
to the increasing awareness of quality spectroscopic devices among end-use
industries.
The technological advancements, demands matching international quality
standards, such as ISO or Six Sigma, and the cost & time-saving approaches
of companies have increased the adoption of process spectroscopic instruments.
The increasing availability of fake or non-standard products in the market has
mandated government globally to educate masses about quality products and
quality standards.
Molecular spectroscopy is a technology widely adopted across different
application sectors which include pharmaceuticals, food & agriculture.
Therefore, accounts for the maximum share in 2015 and is anticipated to
maintain the dominance, growing at a steady pace over the projected period.
Additionally, the Raman spectroscopy is gaining popularity across the
agricultural sector owing to its ability to allow non-destructive extraction of
chemicals and physical information about the samples, helping to the rapid
analysis. Hence, these advantages of spectroscopic techniques are attracting
the added application across the food & agricultural sector, eventually
fostering the global process spectroscopy market.
Although,the high capital investment required for implementing
spectroscopic equipment have forced industry players to pass the cost to
consumers, thereby increasing the prices of process spectroscopic instruments.
However, the emergence of cost-effective technologies over the forecast period
is expected to lead to the reduction of prices of process spectroscopic
products.
In depth research report on Process
Spectroscopy Market
Further key findings from the report suggest:
·
The growth of
the process spectroscopy market can be attributed to the significant adoption
of the molecular spectroscopy technology segment
·
Various law
enforcing authorities and government regulations imposed for the betterment of
product quality in the food & agriculture sector, has led to the
manufacturing & packaging industries to adopt measures to meet the imposed
specifications
·
The adoption
of various spectroscopic techniques is growing and expected to witness
significant growth over the forecast year in the pharmaceutical and food &
agriculture segments
·
The molecular
spectroscopy and pharmaceutical application segments are dominating the overall
process spectroscopy market, contributing for the maximum share in 2015
·
Asia Pacific
region is expected to witness a stringent growth, capturing the market over the
forecast period
·
The key
industry participants include ABB Group, Buchi Labortechnik AG, Danaher
Corporation, Shimadzu Corporation, and Sartorius AG
·
The prominent
strategies followed by the competent players include signing partnerships or
distribution agreements, mergers, and acquisitions along with enriching their
portfolios by involving in intense R&D practices
Grand View Research has segmented the global process spectroscopy market
based on technology, application, and region:
Process Spectroscopy Technology Outlook
(Revenue, USD Billion, 2014 - 2025)
·
Molecular
·
NIR
·
FT-IR
·
Raman
·
NMR
·
Others
·
Mass
·
Atomic
Process Spectroscopy Application Outlook
(Revenue, USD Billion, 2014 - 2025)
·
Polymer
·
Oil & Gas
·
Pharmaceutical
·
Food &
Agriculture
·
Chemical
·
Others
Process Spectroscopy Regional Outlook
(Revenue, USD Billion, 2014 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
China
o
Japan
o
India
·
South America
o
Brazil
·
The Middle
East & Africa (MEA)
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more market analysis reports, please
visit: http://www.grandviewresearch.com/
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