Global IR spectroscopy market is expected to reach $ 1.3billion by 2027Global IR spectroscopy market is expected to reach $ 1.3billion by 2027.Global IR spectroscopy market is valued approximately at $1.0 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 4.1% over the forecast period 2021-2027. IR (infrared) spectroscopy deals with the measurement of the infrared radiation interaction with matter through emission, reflection or absorption which further assists in the study and identification of functional groups or chemical substances in solid, liquid or gas. Infrared refers to the electromagnetic radiation which has wavelengths longer than visible light. The global IR spectroscopy market is being driven by increase in research and development investments in healthcare as well as pharmaceuticals industry and technological advancements in IR spectroscopy. Furthermore, product development for biological research will provide new opportunities for the global IR spectroscopy industry. There have been some recent technological advancements and innovation in IR spectroscopy. For instance, as per the National Center for Biotechnology Information Paper 2019, the availability and adoption of new components in spectroscopy(quantum cascade lasers, synchrotrons, etc.) has led to instrumentation diversity and understanding of image formation has led to advanced designs. Its advantages include expansion in capability and possibilities for analytical measurements. Also, adoption of ultrafast laser sources has led to advancements in 2D IR spectroscopy such as in chemical structure and dynamics. Such technological advancements are expected to increase the demand for IR spectroscopy across end users which in turn is likely to drive the market. However, technical limitations of IR spectroscopy may impede market growth over the forecast period of 2021-2027.

The regional analysis of the global IR spectroscopy market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region across the world in terms of market share due to investments in research and development activities, adoption of IR spectroscopy products and solutions in the food & beverages industry in the region, etc. Whereas Asia Pacific is anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to growth of the food & beverage and pharmaceuticals industries in the region.
Major market player included in this report are:

Shimadzu Corporation
Agilent Technologies
Bruker Corporation
Horiba Ltd
PerkinElmer, Inc.
Zeiss
Hitachi High-Technologies Corporation
Jasco Inc.
Thermo Fisher Scientific
Sartorius AG

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Technology:
Near-infrared
Mid-infrared
Far-infrared
By Product Type:
Benchtop Spectroscopes
Micro Spectroscopes
Portable Spectroscopes
Hyphenated Spectroscopes
By End User:
Healthcare & pharmaceuticals
Chemicals
Biological Research
Environmental
Consumer Electronics
Food & Beverages
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.

Target Audience of the Global IR Spectroscopy Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors