IR spectroscopy is a process used to analyze different chemicals in varied forms such as liquids, solids, and gases. IR spectroscopy has a high scan speed, high resolution, and is highly sensitive. IR spectroscopy is utilized in various applications such as in biological research, and in chemicals, pharmaceuticals, healthcare, food & beverage, and consumer electronics industries. Growing demand of IR spectroscopy in these industries is expected to continue going ahead, thereby supporting market revenue growth of the global IR spectroscopy market over the forecast period.
The global IR spectroscopy market size reached USD 1.05 billion in 2020 and is expected to reach USD 1.63 billion in 2028 and register a CAGR of 5.9% during the forecast period. Rising adoption of mid-infrared spectroscopy in an expanding range of areas and applications is a key factor expected to drive market revenue growth going ahead.
Increasing implementation of IR spectroscopy in the biological field and increasing investments in R&D activities in pharmaceutical and healthcare industries and sector are significant factors driving revenue growth of the market. In addition, rapid adoption of IR spectroscopy in the healthcare sector for detection of kidney stones and blood vessel plaques is expected to augment growth of the IR spectroscopy market to a significant extent going ahead.
However, inability of the IR spectroscopy to analyze a few groups of chemical solvents and high cost of devices are some key factors expected to negatively impact revenue growth of the global IR spectroscopy market to a certain extent going ahead.
Some key highlights in the report:
For the purpose of this report, Emergen Research has segmented the global IR spectroscopy market on the basis of type, technology, end-use, and region
Type Outlook (Revenue, USD Billion; 2018–2028)
Technology Outlook (Revenue, USD Billion; 2018–2028)
End-use Outlook (Revenue, USD Billion; 2018–2028)
Regional Outlook (Revenue, USD Billion; 2018–2028)
Middle East & Africa
Read Full Report Description@ https://www.emergenresearch.com/industry-report/ir-spectroscopy-market
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