Global Market for Process Spectroscopy is Anticipated to grow at a Significant Pace i.e., USD 29.3 Billion during the Forecast Period 2021-2027

Published Date: Jan, 2022

During the forecast period 2021-2027, the global process spectroscopy market is expected to have an 8.8% CAGR. The method of utilizing a spectrometer to calculate or monitor things is known as process spectroscopy. It entails evaluating things that have previously been created. Process spectroscopy can be applied to a wide range of processes, including FT-IR (Fourier transform infrared spectroscopy), Raman spectroscopy, and NIR (near-infrared). These solutions reduce the amount of time and money spent on the whole monitoring process. The signal and spectrum, which is a graphical symbol of a spectrometer, are examined by software. Because of its advantages, process spectroscopy is regarded as one of the best approaches for predicting finished goods. It is widely used in the food and healthcare industry to monitor that the finished products meet the anticipated quality standards. Furthermore, the increased awareness about quality food & drugs, stringent rules and regulations implemented by the government to meet the international standards of quality like ISO or Six Sigma Certification across industries, and innovations and up-gradation by investing in research and development activities will fuel the growth of the process spectroscopy market. Nevertheless, the evolving cloud-based spectroscopy provides immense opportunities and its adoption in several end-use industries will accelerate the growth of the process spectroscopy market.

The ZenoTOF 7600 system, a new accurate mass LC-MS/MS instrument, was launched by SCIEX, a global leader in life science analytical technologies, in July 2021. By generating previously unobtainable data, the new method allows scientists to better identify, classify, and measure molecules than ever before. This breakthrough will help promote the development of new precision diagnostics and biotherapeutics by resolving real-world analytical problems.

The COVID-19 pandemic has a modest effect on the process spectroscopy market as it is widely adopted in the medical sector to identify the patient suffering from SARS-COV 2.

Browse 53 market data Tables and 35 Figures spread through 250 Pages and in-depth TOC on " Process Spectroscopy Market by Technology (Mass Spectroscopy, Molecular Spectroscopy (Near-Infrared (NIR), Fourier-Transform Infrared (FT-IR), Raman, Nuclear Magnetic Resonance (NMR), and Others), and Atomic Spectroscopy) by Component (Hardware and Software), by Application (Polymer, Oil & Gas, Pharmaceuticals, Food & Agriculture, Chemicals, Water and Wastewater Management, Pulp & Paper, Metal & Mining, and Others), and Region - Global Forecast to 2027"

By technology, molecular spectroscopy is projected to be the dominate the market during the forecast period.

Molecular spectroscopy dominates the market as it is a technique that is extensively used in diverse industry verticals like food, agriculture, pharmaceuticals, etc. and increased adoption in environmental screening will further accelerate the growth of the segment. The system is gaining popularity due to its ability to monitor, analyze, and regulate production processes, as well as recognize flaws in product materials by improving product quality. The spectrum response of molecules interacting with various frequencies and energies is measured by molecular spectroscopy analysis. The ultraviolet (UV), visible light (vis), and infrared (IR) radiation spectrums, as well as advanced instrumentation, are available in molecular spectroscopy facilities which are used to analyze molecules.

Global Process Spectroscopy Market Segmentation Analysis

Segment

Categorization

Leading Category

Technology

Mass Spectroscopy, Molecular Spectroscopy (Near-Infrared (NIR), Fourier-Transform Infrared (FT-IR), Raman, Nuclear Magnetic Resonance (NMR), and Others), and Atomic Spectroscopy

Molecular Spectroscopy (Largest)

Component

Hardware and Software

Hardware (Largest)

Application

Polymer, Oil & Gas, Pharmaceuticals, Food & Agriculture, Chemicals, Water and Wastewater Management, Pulp & Paper, Metal & Mining, and Others

Pharmaceuticals (Largest)

Food & Agriculture (High CAGR)

Water and Wastewater Management

(High CAGR)

Region

North America, Europe, Asia-Pacific, and Rest of the World

North America (Largest)

Asia-Pacific (Fastest)

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“Asia-Pacific is expected to have the fastest growth during 2021-2027 in process spectroscopy market.”

Asia-Pacific is anticipated to have the fastest growth in the process spectroscopy market owing to the rising R&D activities for product development, growing manufacturing sector, adoption of spectroscopic methods for producing, refining, and distributing oil & gas, and increased market penetration in the region.

Some of the major players in the global process spectroscopy market include Yokogawa Electric Corporation, Agilent Technologies, Inc., Danaher, Kett Electric Laboratory, Sartorius AG, Bruker, Foss A/S, Buchi Labortechnik AG, Shimadzu Corporation, and Thermo Fisher Scientific.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2027

Historical Period

2015-2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

Technology, Component, Application, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

Yokogawa Electric Corporation, Agilent Technologies, Inc., Danaher, Kett Electric Laboratory, Sartorius AG, Bruker, Foss A/S, Buchi Labortechnik AG, Shimadzu Corporation, and Thermo Fisher Scientific

Global Process Spectroscopy Market Coverage

Technology Insight and Forecast 2015-2027

  • Mass Spectroscopy
  • Molecular Spectroscopy
    • Near-Infrared (NIR)
    • Fourier-Transform Infrared (FT-IR)
    • Raman
    • Nuclear Magnetic Resonance (NMR)
    • Others
  • Atomic Spectroscopy

Component Insight and Forecast 2015-2027

  • Hardware
  • Software

Application Insight and Forecast 2015-2027

  • Polymer
  • Oil & Gas
  • Pharmaceuticals
  • Food & Agriculture
  • Chemicals
  • Water and Wastewater Management
  • Pulp & Paper
  • Metal & Mining
  • Others

Geographical Segmentation

Process Spectroscopy Market by Region

North America

  • By Technology
  • By Component
  • By Application
  • By Country – U.S., Canada, and Mexico

Europe

  • By Technology
  • By Component
  • By Application
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Technology
  • By Component
  • By Application
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Technology
  • By Component
  • By Application
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries